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I am rehabbing my students loans with KHEAA & they are making monthly deductions from my checking account, yet I recieve alerts from myFICO saying "The balance on one of your accounts has increased..." & my FICO keeps going down. Just Friday I got an alert saying "The balance on one of your accounts has increased by $15" and my score dropped 18 points. Can someone help me understand this? This is just showing on Equifax.
Is this the only account on your report? You may be getting notices regarding balance changes on your credit cards or other accounts.
Usually, you don't see any improvement with rehab until you complete the process and your loan is transferred back to a servicer. At that point the collection account will come off and you'll get your new, clean, backdated tradeline to give you a boost.