When I moved back to the United States in May, I applied for a Graduate PLUS loan to live off of while I was in school. My application came back denied, because it said that I had bad credit. I was a little shocked and called PNC Bank to find out what had happened. My old car insurance agency, Safeco, had billed me $92.57 on my last month of insurance. I never received that bill while I was out of the country and thus it went unpaid. This eventually made its way to a collection agency called IC Systems Inc., who put a big old spot on my credit report.
I do not even think I owed Safeco any additional money, but to file a dispute with Safeco would take a lot of time and in May I did not even have enough money to buy books so I was in need of my student loan. I paid $92.57 to IC Systems, plus an additional $25.00 for them to fax PNC Bank to let them know I paid.
They did and my loan went through.
Now it is November. I am running a little short on cash due to my move in August so applied for an extra $1000 to help me out until January. Guess what? I get denied because of a $92.57 Safeco problem on my credit report. AES can’t find the letter, nor can PNC Bank.
I called TransUnion credit reporting agency where they say they will investigate the $92.57 IC Systems Inc credit is equal to that of the $92.57 Safeco problem.
What is the status of my loan? Denied until further notice.