Finally won fight against Nelnet for dinging my credit

Hello all.

I wanted to share this story because I know there are a lot of people in the same boat as I was. About 6 months ago when I had to start paying school loans again irresponsibly didn't pay the loan for 90 days. After the 90 day mark my credit went down about 150 points to below 600. The reason for this is because they dont just give one 90 day late payment; they give a 90 day late payment for every loan you have through them. I have 10. I never knew or was told that if I had a late payment it would hit me 10 times even though I am only paying one payment for all of my loans.

I tried disputing with the credit bureaus. I tried calling and pleading with Nelnet (My school loan company). Nobody helped me. I have been depressed about this and panicking for months thinking my life would be over until I turned 40.

The solution:

A few weeks ago, it occurred to me that there must be a federal agency that overlooks student loans and the credit bureaus. One of these agencies is the CFPB (Consumer Financial Protection Bureau). I went to their site and I sent in a complaint about Transunion, Equifax and Nelnet telling them about Nelnet's shady business practices and their refusal to assist. I showed that I had already disputed through the credit bureaus. I received automated responses saying the parties in question had 60 days to respond to their inquiry. On Saturday, I got an email saying a remark had been made to one or more accounts on credit karma. I took a look. Equifax shot up from 600 points to 710. Over Today Transunion went up over 50 points. There is a remark on all of my Nelnet accounts that now say "Dispute resolved reported by grantor". Clearly, the CFPB means business and it definitely had an effect.

I recommend that anyone going through the same issue as me go to the CFPB site and send in a dispute with all of the relevant information. Good luck.