Posted on: 06th Apr, 2012 02:40 pm
Ok I have a question. I just checked my credit reports and I have 12 negatives but 5 of them are student loans with the same company. I was late paying them one month in 2009 and it shows up as 5 separate late payments instead of one but since then I have been paying all my bills on time. My credit score is 685 but because it looks like I have so many loans, I am being denied credit. Also I was in forebearance so my loan amount is higher than the original amount so my student loan provider won't consolidate. If I consolidate those loans will the information for the 5 separate loans go away?
Any Legitimate derogatory will stay on your credit report up to 7 years. You can contact the creditor and see if you can make arrangements with them to get your account to report as current.
Welcome candee,
If it's a single account, then 5 different entries on your credit report for the same debt will be considered illegal. You should contact the credit bureaus and try to dispute it with them so that they remove them from your credit report. As far as I know, the account should be mentioned only once in your credit report.
If it's a single account, then 5 different entries on your credit report for the same debt will be considered illegal. You should contact the credit bureaus and try to dispute it with them so that they remove them from your credit report. As far as I know, the account should be mentioned only once in your credit report.
