Can You Dispute a Student Loan Error on Your Credit Report?
Having incorrect information on your credit report may easily damage your credit score, but you’re not alone. If you’re worried about the adverse effects of false information related to your student loans on your credit report, you may be able to take steps to undo the damage.
If you’re wondering what information you might be able to remove, what evidence you may need to provide, or steps to take to correct your student loan, we’ve broken down everything you need to know.
What Information Can I Have Removed From My Credit Report?
If you’re wondering whether or not you may be able to get specific information related to your student loans removed, check the following list to see what might be possible.
- Student loans not belonging to you
- Incorrect late payments
- Incorrect default status
- Closed loan accounts listed as open
- Loans listed multiple times
- Loans falsely labeled as delinquent or default
- Incorrect balance
- Identity theft
- False information related to deferment or forbearance
If you’re looking to remove student loans from your credit report altogether, having loans on your report is not necessarily bad for your credit score if you’re paying on time. However, anyone who offers to remove valid student loan information from your credit report is likely a scam.
What Information Should I Collect to Correct My Credit Report?
If you’re planning on getting into contact with your student loan holder or student loan servicer, you may want to collect some of the following information to assist you in making your claims:
- Copy of credit report
- Recent loan statements
- Supporting documents, including
- Evidence of payments
- Evidence of forgiveness
- Forbearance requests
- Identification, including driver’s license
- Student loan reference number
- Student loan holder
- Student loan servicer
This evidence may make it easier for you to prove the information on your credit report is incorrect.
How to Correct Your Credit Report
To correct the information on your credit report related to your student loans, you may want to send a letter to your loan holder, or the person providing you with the loan. It’s essential the letter includes sufficient evidence and key explanations. While writing this letter, explain the issue and provide the evidence you have supporting the correction you want. For example, if you want to prove you haven’t made late payments, you’ll want to clearly state this is the issue, provide evidence of payments being made on time, and explicitly request that the false information be corrected.
Additionally, you’ll want to request written confirmation of receipt of the letter you send, as well as ask for written evidence they have corrected the status of your account. It’s also important to ask your loan holder to give notice of the correction to the three major credit bureaus, TransUnion, Equifax, and Experian.
When sending your letter, be sure to send it through certified mail and have a return receipt requested. After two weeks, if you haven’t heard back, follow up. Your student loan holder has up to 30 days to update their records after they’ve confirmed receipt of your letter, so check the records after this time has passed.
What to Do if Your Loan Holder Fails to Correct Your Report
If all of this fails, you may want to take legal action to correct the information on your credit report, but you might not want to do this alone. By enlisting the help of credit repair services through a consumer rights lawyer, you may be guided through the process clearly and effectively.
Your consumer rights lawyer may be able to help create a plan, remove inaccurate information, use the law to your advantage, and push the liable parties until your report is corrected. If you’re unable to receive your credit report alone, a consumer rights lawyer may also be able to assist you.
Protect Your Rights With The Law Offices of Jibrael S. Hindi in Florida
If you’re in Southern Florida and struggling to correct your credit report alone, we at The Law Offices of Jibrael S. Hindi may be able to help. We strongly believe in protecting the rights of our clients and guiding them through each step of the legal process. Jibrael S. Hindi and the rest of our legal team know how to work hard, answer tough questions, and provide tailored, actionable solutions.
Our firm takes cases on a contingency basis whereby the firm does not get paid unless a recovery is obtained on your behalf. If you think we may be able to help, please call (954) 907-1136 or complete our contact form.