Need help in the credit department!

**Diary of a Mad-man** · 06-22-2009, 08:47 PM

I need help in the credit repair department. This is a first time thing for me.

I just got declined for a loan. Come to find out, something JUST showed up on my credit. It is $1500 from college, in the year 1999. Normally I would just pay it and get it over with, but this situation is bullshit.

I started college in 1999. I had a 75% scholarship from the state. I paid for all of my junk with a personal check (which was discounted 75%).

I ended up dropping two classes. Apparently, they wanted their 75% of that discount, back from me cash. Well,they never told me this. Matter of fact, I started community college four or five years later and wrote my old college for my transcripts because I did pass some classes. They didnt send me transcripts. I dropped out of community college (yes im a f4cking loser x 2) and forgot/didnt care about the transcripts.

Here it is, 2009. They are saying that since it was reported in 2009, it will be on my credit until 2016. This happened 10 years ago, and is therefore total bullshit and not honest.

I would pay it if I wasnt broke as a joke. Since they want to lie about shit though, I say, why dont I save 1500$?
I only owed $900. The rest is interest.

Any help guys? I have no clue where to even start?!?! Any help would be GREATLY appreciated.

**The Deuce** · 06-22-2009, 08:57 PM

File a Class Action Lawsuit against the lender... seriously...

**spywizard** · 06-22-2009, 09:15 PM

write a letter, demanding a copy of the original note..

then send them a copy of the credit report showing that they are reporting it illegally.. and tell them to send you a check for $2500 and remove the information immediately.. Inaccurate info reported has punitive cash penalties..

and a class action suit means there are many people suing together..

**The Deuce** · 06-22-2009, 09:39 PM

oh... it just sounded cool...

**higherdesire** · 06-22-2009, 09:48 PM

^^LMAO

Dude just file a dispute with the credit bureaus, they ahve to verifiy the debt as legal. If it is not substantiated within 30 days they have to remove it. Try that first. ALso research your options under the FCRA (fair credit reporting act). Damages are standardized as treble unless harm can be proven. if in fact you were denied for a loan (as you stated) and there were damages that arose form that, for example you needed a loan for an investment property and you can show the loss of revenue, then you can pursue punitive damages above the standardized allowance. It is VERY expensive to pursue. you would be far better served to negotiate teh payment and removal of the erroneous debt with the creditor. Good luck.

**Tigershark** · 06-22-2009, 10:19 PM

After 7 years it should be removed. Call or write the lender and threaten a suit.

**Diary of a Mad-man** · 06-23-2009, 07:31 AM

Thank you thank you thank you for ANY and all replies guys!@!@!

(LOL, class action did sound cool).

Spywizard, I did get "proof of debt" and lo and behold, it is a computer screen shot with the date 1999 on it!

You guys keep posting. I'm getting my rusty ass gears turning

Like I said, I would pay it and be done, but I dont have the money, they are telling half truths, and im not going to hand over $1500 every time someone tells me to for the rest of my life.