Anyone know the impact student loans have on Fico scores?

If you ask me Fair Issac is not quite as Fair as he claims and should be eliminated all together..
but that is another topic.

My credit report has 4 count em' 4 student loan
listings per report on all 3 CRA's with no payments ever having been due and no payment history what-so-ever because the loans were cancelled and My obligation erased after the school filed bankruptcy and closed in 01.

These are not even supposed to be reported as I
understand it and get this the lender office reporting them is closed as far as the BBB is
concerned. My score is in the low sixes on
Equifax & Experian and mid to high sixes TU.

I'm wondering if I should sue if these are not
removed after this final dispute, at $1000.00
per violation and 12 notations over a span of
a year, that could add up to some serious bucks
now couldn't it?(Yeah right) but I really just want them removed.

I think they are hurting my score substantially.
Anyone have any thoughts they could share?

Is there a BALANCE reported?

No they were forgiven(July 2001) due to the school I was attending being closed. It took months to get Sallie Mae to reflect a zero balance even
though I had a letter in my hand stating that I
was no longer obligated to repay the loans.

The balance was only changed to zero In December 01 after many disputes and letters to Sallie Mae.

I recently found out that they should not be reporting at all even though Sallie Mae's
response to my BBB complaint and my PFB letter
says they are not allowed to delete I sent her
the relevant paragraphs of such after her letter
which clearly was meant to mis-inform.

I don't think those loans lower your scores, they could even help.

And I don't know why they can't report them. It seems like it's factual to me. You got the cash, they forgave the debt, the balance is zero.

Check your Beacon before and after the dispute and you'll know exactly what those loans do to your scores. I'm interested in the result.

Sorry I guess I forgot to mention that in spite of
the fact that No payment ever became due and no
negative account history, these loans were being
reported as negative items and that would have impacted my score although I had no idea how much when I posted as it turns out 36 points.

The point is that when the loan is forgiven due
to a closed school, all negative reporting is to be deleted from the credit report. If the information was reported correctly and not in
a way that looks like I defaulted(I did not)
then I would have no issue with them remaining
however notations such as "Contact Member for Status" and the like cause these items to be reported as negative. That is the only issue
I have with the reporting other than the manner
in which my disputes with Sallie Mae were handled.

"these loans were being reported as negative items"

If the disputes and the "non" results are well documented, I would seriously consider filing suit. Have you been following NH Higher Ed (NHHEAF) re-aging ALL defaulted PAID student loans as a matter of policy (http://forum.creditcourt.com/discus/messages/364/364.html)?

Actually I have it bookmarked. I have sent my Lawyer all the pertinent documents including
e-mail responses I received to my complaints.

I am sure I can prove damages and that Sallie
Mae attempted to give me false information
in response to my complaint because of either
ignorance or non-compliance.

I will post when I have more information.

All I have read here at Bayhouse has inspired
me to really pursue my rights! Thanks for everything!