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Another School Loan Consolidation Question

Valued Member

Another School Loan Consolidation Question

I just submitted my consolidation application with Wells Fargo a couple days ago. I currently have 10 open school loans with them (both unsub and sub loans). When the consolidation goes through, will I only have 2 accounts listed for CR purposes?

When I missed a couple payments over the years (none in over a year), each account reported a late. Essentially, 1 late payment = 10 late on my CR's. Will those late payments disappear when I consolidate? Since there would now be 2 accounts, would it only show 2 lates?
1 REPLY
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Regular Contributor

Re: Another School Loan Consolidation Question

My old loans are still on the report as $0 and the lates still show.   The new consolidated loans won't show any lates since they are completely seperate from the old loans.