A case of double jeopardy with STUDENT LOANS!!!!

Anonymous · ‎01-18-2018

Good Afternoon,

Here's my issue: I received 4 student loans, yet there are 9 items showing up on my credit report!!!!

4 loans from AES last reported in 2012 (transferred)

4 loans from FED loan last reported in 2013 (transferred)

and 1 loan from Great Lakes (which is all of the 4 inital loans consolidated into 1)

There were late payments made before the loans were transferred but since consolidation everything has been current.

Here's my question: How can I have the 8 negative "transferred" items removed from my credit report?

Anonymous · ‎01-21-2018

Hi,

You could try to write a goodwill letter to the lenders, but the last time I spoke with the Department of Education during my student loan rehabilitation process, their representative told me that even though the two accounts that had transferred from Nelnet to the DoE out of default, and it was those accounts on my credit report (DoE) that are scheduled to be deleted, the original lender (Nelnet accounts) would remain on record for a period up to seven years. As far as I am aware regarding my own lending situation, Nelnet is like an immovable rock.

Anonymous · ‎01-22-2018

if you regularly use your credit card or if you pay a small amount of credit and pay regularly, you can get rid of it.

Anonymous · ‎01-23-2018

@Anonymous wrote:
Good Afternoon,

Here's my issue: I received 4 student loans, yet there are 9 items showing up on my credit report!!!!
4 loans from AES last reported in 2012 (transferred)
4 loans from FED loan last reported in 2013 (transferred)
and 1 loan from Great Lakes (which is all of the 4 inital loans consolidated into 1)
There were late payments made before the loans were transferred but since consolidation everything has been current.
Here's my question: How can I have the 8 negative "transferred" items removed from my credit report?

Because when the loans are closed and transferred to a new lender those previous loans stay on for seven years. Perfectly legal. They will fall off when they are due to. Just because you refinance the loans doesn’t mean the old closed ones disappear right away for any loan. That is not double jeopardy or illegal. You can’t have these old accounts removed until the DOFD time has expired.