My husband is in a student loan rehab for 9 months with collectcorp. He currently has 3 loans reporting as in collection with US Department of education on his CR. These are being updated every month report a balance, and look to be accruing interest. On the bill form the US department of edu that shows the monthly ACH payment there are 3 loans listed with the same account numbers that is listed on the CR. This seems to be reporting correctly.
There is a second loan being reported as Direct Loan Svc System or US Dept of Education.that is about the same amount that is owed on all 3 of the loans listed above in total. The status is "Payment after charge off/Collection" on TU and "Collection" on EX and EQ. The account # is his SSN. Also, we checked online, and spoke with the US Dept of EDU and they had nothing in their system showing a 4th loan.
Am I correct in saying that the second loan listed above is the OC and will report until it falls off? The 3 separate loans I mentioned first that are reporting correclty are the tradelines that will be deleted once out of rehab is about 6 months? Then a new TL will report with another bank with the new balances?
I just want to make sure I am understading how it is reporting and what will update after coming out of rehab because I got a little confused when the dept of edu said they did not show a 4th loan.
