MOHILLA student Loans - MOHILLA Nails All Co Signers Rather Than Student on Default Loans

Review by halbert.heilostein on 2013-01-21
Rating: StarEmpty StarEmpty StarEmpty StarEmpty Star
CHESTERFIELD, MISSOURI -- MOHILLA --the entire company are scumbags. They made me get a co-signer so I went to my boss ( I was 16 at the time and just admitted to school) and he signed for me. I got the loan and two years into my education, my Mom and Dad were killed in a plane crash in Europe and I had to drop out of school and could not get a job -THIS WAS IN 1983 I could not make the MOHILLA loan payment and offered to make reduced payments based on my unemployment checks. MOHILLA ignored my offer and went straight after my boss for all back payments. His TRW, Experian and other credit went in the dumper as a result. I got a job, worked at paying off the loan but MOHILLA kept my boss in the bad credit group ( you can imagine what this did to the relationship we once had) and refused to take it off the record after we paid the entire loan in 1990. Today, the negative debit is still on his TRW adn Experian even though the loan has been paid off for more than 10 years. MOHILLA says it will be on his record up to 2015. These people are scumbags. Google the President's name and you will see that he has been investigated for being a child petaifile. Stay away from these people whatever you do.
Comments:4 Replies - Latest reply on 2013-01-22
Posted by Vinnie on 2013-01-21:
Your boss can file a dispute with the credit bureaus and ask them to remove the item because it is old. They will remove it with no argument. It is easy for him to do and it can all be accomplished online.
Posted by Johanna on 2013-01-21:
That's what I was going to suggest.

And you do know that's why loan companies may require a co-signer; in the event the borrorwer defaults, they have someone else from whom they could possibly recoup the money.
Posted by T on 2013-01-21:
I don't agree that they were "scumbags," and I have no idea what a "petaifile" is or how it relates to the complaint.

When you co-sign a loan, you are guaranteeing that debt. This is why they went after your boss - it was their money, and they had a right to try to get it back.

All this said, if the debt was paid off in 1990 it can be removed from his credit report.
Posted by At Your Service on 2013-01-22:
I am so sorry to hear that your parents passed away in such a tragic way. You hopefully appreciate what cosigning for a loan is. It's quite a commitment as it seems your previous boss has discovered. I don't believe it's lawful for any credit reporting agency to report credit inaccurately. He should contact the agency to confirm the information is accurate.

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