I have a private student loan that was taken out 05/98. All payments have been made electronically from my checking account- never refused; never dishonored.
I am fighting with the lender who states that the loan is in default. They state: pmt #1 was late; pmt #2 didn't include the late fee for pmt #1 and as such was late; pmt #3 didn't include the late fees for either pmt #1 or #2 and as such the loan defaulted.
I have never received any billing statements and have lived at my residence since 1997. They claim "our database says we mailed them."
Since I have paid all my bills electonically, I have never worried about whether or not I received any billing statements.
The only way I found out that they had put me in default was the record showed up on my credit reports while trying to get a security clearance. It is the ONLY bad thing on my reports.
I honestly don't know what my rights are in this matter. I am still paying them electronically and they are accepting the payments. I want the "default" gone off of my reports. Yesterday I received a letter from them stating not to send any more letters about this matter as they wish to do all business over the phone. This scares me...