9d • Gems
🚨 5 Reasons You Can Delete Student Loans from Your Credit Report 🚨
Most people don’t realize student loans can appear incorrectly on their reports, and if the lender or servicer can’t fully verify the debt, it must be removed under FCRA laws. Here’s why:
1️⃣ Reporting late payments while you are in deferment or forbearance
Your account shouldn’t show late payments if you were legally allowed to pause payments. Reporting them is a violation.
2️⃣ Listing loans as “in default” when they are not
Incorrect default status can ruin your credit. If they can’t prove the loan is in default, it must be corrected or deleted.
3️⃣ Reporting the wrong loan balances or showing duplicate loans after a transfer
Errors happen when loans are transferred. Duplicates or incorrect balances are not valid and can be removed.
4️⃣ Failing to provide your original signed promissory note when you dispute
If you dispute a loan and they can’t provide the original agreement you signed, they cannot legally report it.
5️⃣ Doing hard inquiries without your permission
Lenders or the Department of Education must have your permission for hard credit pulls. Unauthorized inquiries can be disputed and removed.
⚠️ If they cannot fully verify your student loan, it must be removed according to federal credit laws.
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🚨 5 Reasons You Can Delete Student Loans from Your Credit Report 🚨
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