I bet you never heard of Credit Alert Interactive Verification Reporting System (CAIVRS) before.
CAIVRS was established by the Housing and Urban Development (HUD) agency in June of 1987. It is a database of Social Security Numbers that are in default regarding federal loans such as Student Loans, Small Business Loans, VA Loans, etc.
The following agencies report to CAIVRS:
- Department of Agriculture
- Department of Education
- Department of Veterans Affairs
- Small Business Administration
- Department of Justice
If you default on a loan or credit card it goes to your credit report which is accessible to you. However, if you default on a Federal Student Loan it is not reported to your credit file. It is only reported to CAIVRS.
YOU WILL NEVER KNOW YOU WERE A VICTIM OF IDENTITY THEFT UNLESS YOU APPLY FOR FEDERAL MONEY.
I just applied for a VA loan for a new home and was notified by my lender that I was delinquent on a Federal Student Loan and that I could not get my VA loan until this issue was cleared up. I immediately knew this was inaccurate because I HAVE NEVER HAD A STUDENT LOAN.
I called the Department of Education Student Loan Debt Resolution ……………… let that sink in a moment. This problem is so huge apparently that they have their own departmental offices.
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