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Frequently asked questions - Page four

Credit Bureau Reporting

When is my student loan reported to a credit bureau?
Will I be notified before past due information is reported?
Which credit bureaus does Campus Partners report loans to?
How do I dispute an entry from Campus Partners to my credit bureau file?
How long will it take Campus Partners to update the credit file if incorrect information is reported?

When is my student loan reported to a credit bureau?
According to federal regulations, the reporting requirements are as follows:

  • Federal Perkins/NDSL: loans with a note date of 07/23/1992 or after must be reported at the time of disbursement.
  • Health Professions Student Loans (HPSL) and Nursing Student Loan (NSL): Schools have the option of reporting loans at the time of disbursement or at 120 days past due.
  • Institutional loans:Campus Partners reports the status of your loan to the credit bureau at the end of each month.

Will I be notified before past due information is reported?
Campus Partners sends past due letters to you, reminding you to make a payment and informing you that the loan can be reported negatively to the credit bureau. Your lender may also choose to notify you if your loan has been reported to the credit bureau. This contact is sent in addition to the past due letters we send.

Which credit bureaus does Campus Partners report loans to?
Campus Partners reports to the three major credit bureaus:

Trans Union Corporation
5600 77 Center Drive, Suite 350
Charlotte, NC 28217

Equifax Information Services
PO Box 74023
Atlanta, GA 30374-0243

Experian
295 Jimmy Doolittle Road
Salt Lake City, UT 84116

The above addresses are of corporate offices and are not the same as your local credit bureau. If you wish to file a dispute or have a complaint, you will need to contact your local credit bureau (look in your local phone book).

How do I dispute an entry from Campus Partners to my credit bureau file?
There are a few different ways you can dispute entries to your credit file. You can contact Campus Partners by phone at (800) 334-8609 or in writing:

Campus Partners
PO Box 2901
Winston-Salem, NC 27102-2901

You can also dispute entries to your credit file through your local credit bureau. Filing the dispute with the credit bureau is the most beneficial method for you because the dispute becomes a permanent entry to the credit bureau record.

Can Campus Partners remove negative entries from my credit bureau file?
Campus Partners cannot remove information from a borrower’s credit file unless it was reported in error. Below are some examples of errors for which Campus Partners would send an update to change your credit file.

Reported incorrectly within the loan’s original grace period
Misapplied payment(s), forms(s), and other adjustments
Bank errors, such as payment encoding error
Campus Partners processed instructions from lending institution incorrectly

Below are situations in which Campus Partners would not send an update to change your credit file.

You sent in your request for deferment, forbearance or cancellation late.
You made a late payment(s).
You claim not to have received a bill.
Your check was returned for non-payment (e.g. NSF check).
You neglected to submit payment before receiving confirmation that your form was processed.


How long will it take Campus Partners to update the credit file if negative information is reported to the credit bureau in error?

Campus Partners can send the updated information to the credit bureaus in as little as one day. However, it normally takes 60 days for the change to show on your credit report. We have no control over how long it takes for credit bureaus to update their records.

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