08-12-2011 10:08 AM
My question is a bit different most the ones here.
I had three loans with GA Student Finance. When I applied for a Disability Conditional Discharge, the loans were given to the federal government. So, even though all three accounts were in good standing, they appear as negative accounts because GSFA reported them as "claim filed with the government". What can I do to fix that?
Now the US Department of Education has the three loans. Every time they moved them from one department to another, it created another listing on my credit report. The same happened when they changed management companies, ACS to Nelnet. It appears I have nine loans. It also appears I take out new student loans every two years or so. All, except the newest one, are listed as deferred or closed, paid as agreed. Which status is listed depends on the credit reporting agency. One "listing" has three late payments, but I have proof I wasn't required to pay them. Another says I paid below the required monthly amount. All the others are in good standing with no late payments.
The question is do I leave these loans alone or try to have them consolidated into three US Dept of Ed. loans (ie the original loans GA sent them)? Or would it benefit me more to have 8 closed loans in good standing/never late? Should I try to get the ones listed as deferred switched to closed?
08-16-2011 06:59 PM
It seems that you had a few questions going on. I would contact the loan company and try to find out what the status should report as. As you stated, normally when there is "claim filed with the government" it means that the loans are negative and probably not going to get paid so the government (who guaranteed the loan) paid it. Now, it may be the same thing if they paid the claim because of a disability clause. You may want to check on that as I don't see who they could penalize you for a legitimate cancellation of your loan.
When it comes to all of the other loans on your report showing as closed, I would not worry too much about those. If you are still in school, then I would wait until you finish school and then do a consolidation of all of your loans. Each time you go into a new semester(or term) then normally it is a new loan placed on your credit. But again, I wouldn't worry about this too much while you are in school. Then once you get out of school, just have everything consolidated if that is smart for your situation and move forward.