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Mohela and Direct Loans

New Member

Re: Mohela and Direct Loans

Due to issues surrounding the transfer/conversion process, MOHELA will report to the credit bureau within 45-60 days of the loan account loading to our servicing platform.  After this point, MOHELA then reports to the bureau every month.

Message 11 of 31
Frequent Contributor

Re: Mohela and Direct Loans

Mine just hit the bureaus today. I was discussing the drama in this thread.

Looks good so far. On a side note, the original loans were consolidated on my CR. Mohela broke it back up into 3 loans, all with a start date of 9/2001. My AAoA shot up like a rocket and my score went up 20 points!


Starting Score: 690
Current Score: EQ 780 EX 814 TU 783
Goal Score: 800

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Message 12 of 31
Established Contributor

Re: Mohela and Direct Loans

What was the date that your loans were taken on by Mohela? Just trying to see how long it actually took them to report.
EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Message 13 of 31
New Member

Re: Mohela and Direct Loans

It should be from the day your loan was "loaded to our servicing platform for servicing".  Technical, but very important.  We can't report on the account until it appears on our servicing platform.

Message 14 of 31
Established Contributor

Re: Mohela and Direct Loans

Mohela told me that my loan would be reported on 2/29 to experian...still no update.
EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Message 15 of 31
Established Contributor

Re: Mohela and Direct Loans

Still checking to see if anyone has had their loan reported by Mohela yet. Just checked and all 6 of my DOE loans are now transferred/closed. HURRY UP MOHELA!
EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Message 16 of 31
Frequent Contributor

Re: Mohela and Direct Loans

I wish  AES, Citi bank, PHEAA, USA Funds were as ethical as MOHELA


Starting Score: 656
Current Score: 678 TU 08, 665 EQ MyFico, 698 EX PSECU
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Message 17 of 31
New Member

Re: Mohela and Direct Loans

He is saying that it is now a new loan, but it is only one line of credit since you did a consolidation program.  This means that it will reflect as a new account, but only one new loan.  The other six will report as being closed and paid.  This is all good for you and your credit.  Congratulations.  If you want to know any other information about student loan consolidation programs, you can go to this site.  They have some amazing articles that could answer a lot of your questions. Mod Cut!

 

 

Spamming is not allowed in the forums. I have removed the link in all of your posts.

 

--fused, myfico moderator

Message 18 of 31
Established Contributor

Re: Mohela and Direct Loans

Yeah, thanks for nothing, I never said anything about consolidating my loans... They aren't consolidated...does anyone have any relevant news on Mohela reporting?
EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Message 19 of 31
Highlighted
New Visitor

Re: Mohela and Direct Loans

Thanks so much for this answer.  My loan was just transferred to Mohela.  Though last October for some reason my loan started reporting as closed to the credit bureaus (totally messing up my credit).  I had just mailed them a letter to fix it and was waiting for the bureaus to update....but now I have to wait longer to be sure it's updated with Mohela.  As someone who made some horrible mistakes and has rebuilt their credit, that payment history is incredibly important to my credit right now.

Message 20 of 31