My employer is causing my credit score to drop..

Submitted by terozv2 t3_11ek8wp in personalfinance

Just about a year ago, I got a new job at a trucking company. I signed a contract that said they will pay for my CDL school costs as long as I stay for a year. I've just finished my year at this company and should have had my school payed off which recently they said they would..

But, I recently got a message from my one of my credit score tracking apps (experian) that said that my school loan hasn't been payed in 90 days now and that it was flagged as delinquent, and that my credit score has dropped 121 points because of nonpayment!

I caught on to this a month ago actually and when I called my company they told me that they will fix it and to check again in a week, turns out the whole time, nothing has been done, and now 90 days have passed with no payment. My manager mentioned that 2 other drivers have had the same problem.

Is there anything that can be done or is my credit screwed for awhile?

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Comments

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plowt-kirn t1_jael1ak wrote

In hindsight I would have suggested that you pay for the CDL training and get reimbursed by your employer. At least that way you're not dragging a third party into this.

It also sounds like your employer is unreliable. Might be time to start passing your resume around.

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imakenosensetopeople t1_jaepef7 wrote

On the one hand, if the employer offers to pay directly to the school, even by being delinquent then OP’s credit score takes a hit.

On the other hand, if the employer offers to reimburse, and is delinquent (or doesn’t pay), then OP is left holding the bag.

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plowt-kirn t1_jaeuh0d wrote

Here's how I look at it: there's a risk that OP is going to have to pay the school anyway, either to avoid collections or maybe even if they end up suing.

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Reap1108 t1_jaet867 wrote

So you signed a contract and they are violating the contract? Did you remind them of this?

I would simultaneously find a new job and a lawyer.

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krugle_ t1_jaem8rr wrote

You'll most likely need to talk to the school after it's paid and see if you can get them to remove the marks. It's weird to me that they would go after you and not your employer. Typically the school would require a PO or credit card to enroll you to begin with.

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[deleted] t1_jaejkwx wrote

[removed]

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Dornith t1_jaelmpi wrote

Did you read the post?

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[deleted] t1_jaeof2e wrote

[deleted]

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krustymeathead t1_jaeypqb wrote

it also sounds like OP's employer may be contractually obligated to payoff their CDL loan directly thru the servicer, but is dropping the ball, which is unfortunate.

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