Posts Tagged "loan"

Charged off student loans still in credit report after being paid in full

Dear Experian,

I have three student loans from about 12 years ago that where charged off. I paid them off in full two years ago, yet they are still reporting on my credit report. They are being reported as paid in full; however, next to that it lists a loan amount and still shows a balance. The loan amount would be the original amount borrowed, but there must be a mistake since it shows a balance even though it states paid in full. Is this affecting my credit score? Should I get a letter stating paid in full from the lender and send it in to you?


Voluntary repossession would have seriously damaged credit scores

Dear Experian,

I am trying to trade-in my car; however, I am upside down on my current car loan. If I trade it, my payments will be really high. The salesperson is trying to convince me to do a voluntary repossession on my current vehicle. She said that it would not be a big hit on my credit and my new car payment will then be lower. I told her that was something that I really had to think about and research. I don’t know much about what she was talking about, and I did not want to make an impulse decision.


Student loans may appear in credit report while in deferment

Dear Experian,

How long does it take after student loans are out of deferment for them to show up on a credit report?


Student loan will appear on cosigner’s credit report as well as the student’s

Dear Experian,

If I cosigned for a student loan, will the loan balance show on my credit report, or it will only show on the student’s credit report?


Loan modification could hurt your credit scores depending on how it is modified

Dear Experian,

I am interested in a modification on my mortgage loan. I would like to modify my repayment When I asked the bank if a modification would negatively impact my credit scores, I was told that it may be reported to the three credit reporting companies, but that the impact to my credit scores would be up to you. Would a modification, lower monthly payments or deferred payments lower my credit scores?


Experian does not extend credit or provide credit cards

Dear Experian,

How can I get a credit card with Experian?


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