Comments on: Sallie Mae Reporting Incorrectly to Equifax, Dropping FICO Scores http://www.consumerismcommentary.com/2008/05/13/sallie-mae-reporting-incorrectly-to-equifax-dropping-fico-scores/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 08 Nov 2009 07:50:42 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: XpressIng http://www.consumerismcommentary.com/2008/05/13/sallie-mae-reporting-incorrectly-to-equifax-dropping-fico-scores/#comment-149833 XpressIng Thu, 15 May 2008 00:58:03 +0000 http://www.consumerismcommentary.com/?p=3290#comment-149833 Greetings: I was alerted to a change in my score by my credit watch account. Upon accessing my account on the Internet I found that my credit score had dropped by exactly 114 points. After spending a great deal of time I was able to find someone at Sallie Mae and Equifax who gave me accurate information. I checked Experian and Trans Union. They were not affected. My score dropped Sunday night, May 11, 2008. I checked my score today and found they had corrected the problem and the score was back where it should be. I believe in situations like this there should be a better way for the creditor to communicate with the credit reporting agencies to corect such events. Some of you may have had your score and credit checked on Monday or Tuesday by your insurance company or similiar. Your insurance rates and other costs are associated very directly with your credit score. Check out your credit report and contact any creditor or service provider that may have accessed your credit while your score was lowered. Make sure they are aware of the error. You could find your insurance rates or similiar increase by a significant amount. That is all for now. :) Greetings:
I was alerted to a change in my score by my credit watch account. Upon accessing my account on the Internet I found that my credit score had dropped by exactly 114 points. After spending a great deal of time I was able to find someone at Sallie Mae and Equifax who gave me accurate information. I checked Experian and Trans Union. They were not affected. My score dropped Sunday night, May 11, 2008. I checked my score today and found they had corrected the problem and the score was back where it should be. I believe in situations like this there should be a better way for the creditor to communicate with the credit reporting agencies to corect such events. Some of you may have had your score and credit checked on Monday or Tuesday by your insurance company or similiar. Your insurance rates and other costs are associated very directly with your credit score. Check out your credit report and contact any creditor or service provider that may have accessed your credit while your score was lowered. Make sure they are aware of the error. You could find your insurance rates or similiar increase by a significant amount. That is all for now. :)

]]> By: R. http://www.consumerismcommentary.com/2008/05/13/sallie-mae-reporting-incorrectly-to-equifax-dropping-fico-scores/#comment-149762 R. Wed, 14 May 2008 17:36:24 +0000 http://www.consumerismcommentary.com/?p=3290#comment-149762 THANK YOU!!! I have Equifax credit monitoring so I was shocked by what happened to me on Monday when my score dropped an insane amount!! Sallie Mae was not very helpful, referred to the Graduated Payment plan, but I am not ok with waiting until July when my payment plan changes! I just called Sallie Mae again, and they are working with Equifax. If you have made all of your payments on time and have been making the correct amount, even on the Graduated Plan, then soon your credit score should go back to before. It sounds like this was a problem with Equifax, not so much Sallie Mae. THANK YOU!!! I have Equifax credit monitoring so I was shocked by what happened to me on Monday when my score dropped an insane amount!! Sallie Mae was not very helpful, referred to the Graduated Payment plan, but I am not ok with waiting until July when my payment plan changes!

I just called Sallie Mae again, and they are working with Equifax. If you have made all of your payments on time and have been making the correct amount, even on the Graduated Plan, then soon your credit score should go back to before.

It sounds like this was a problem with Equifax, not so much Sallie Mae.

]]> By: Lenny http://www.consumerismcommentary.com/2008/05/13/sallie-mae-reporting-incorrectly-to-equifax-dropping-fico-scores/#comment-149708 Lenny Wed, 14 May 2008 05:32:27 +0000 http://www.consumerismcommentary.com/?p=3290#comment-149708 Eeek - I just happened to be browsing some other blogs and came across here. My fiance has consolidated her loans through Sallie Mae and we were just talking about going through the steps of getting prequalified to buy a house. This gives me even more reason for her to pull her credit report now rather than later. Thanks! Eeek – I just happened to be browsing some other blogs and came across here. My fiance has consolidated her loans through Sallie Mae and we were just talking about going through the steps of getting prequalified to buy a house. This gives me even more reason for her to pull her credit report now rather than later. Thanks!

]]> By: Unbelievable http://www.consumerismcommentary.com/2008/05/13/sallie-mae-reporting-incorrectly-to-equifax-dropping-fico-scores/#comment-149695 Unbelievable Wed, 14 May 2008 02:27:11 +0000 http://www.consumerismcommentary.com/?p=3290#comment-149695 Thank you so much for alerting us all to this. It is completely irresponsible of Sallie Mae not to tell their customers about the error, I should not have to read about it on a blog. My FICO score dropped 120 points!! Thank you so much for alerting us all to this. It is completely irresponsible of Sallie Mae not to tell their customers about the error, I should not have to read about it on a blog. My FICO score dropped 120 points!!

]]> By: Victoria http://www.consumerismcommentary.com/2008/05/13/sallie-mae-reporting-incorrectly-to-equifax-dropping-fico-scores/#comment-149655 Victoria Tue, 13 May 2008 21:40:37 +0000 http://www.consumerismcommentary.com/?p=3290#comment-149655 Thank you for being one of the only people, as of May 13th, 2008, reporting on this egregious error. In these difficult times, building and protecting one's credit is so important to all of us. This has caused many of us so much stress. I hope the news catches on and others take interest in this article. Thank you for being one of the only people, as of May 13th, 2008, reporting on this egregious error. In these difficult times, building and protecting one’s credit is so important to all of us. This has caused many of us so much stress. I hope the news catches on and others take interest in this article.

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