Consolidated Student loans, took a score hit.

Anonymous · ‎06-09-2016

I would think this would help, but the exact opposite. Consolidated my student loans to one tradeline. Took my AAoA down to less than two years. Essentially closed tradelines back from 1996, all to new loans.

Is there anything I can do about this?

SCF · ‎06-10-2016

No - there is no way to reverse the consolidation. At this point the best plan is to mind your finances and obligations - pay your loan on-time every month, and pay extra if you can to reduce the amount of interest you pay over the life of the loan. If you do those things, time will take care of your credit score.

Anonymous · ‎06-11-2016

Thank you.

Anonymous · ‎06-11-2016

I just had to learn that the hard way too.. really stinks. I didnt see anyone mention it on here prior to doing it. Maybe your post will help someone think twice about consolidatig all loans. I wish i would have left one of the older tradelines out of the consolidation. 8-(

Jerry45 · ‎06-29-2016

@SCF wrote:
No - there is no way to reverse the consolidation. At this point the best plan is to mind your finances and obligations - pay your loan on-time every month, and pay extra if you can to reduce the amount of interest you pay over the life of the loan. If you do those things, time will take care of your credit score.

Great advice SCF. Will a newly rehabbed Fed Student loan from the 1990's cause the major banks to drastically CLD all your credit card lines? thanks