Student Loans possibly reporting incorrectly?

[jesseewiak]

All right, back in October of '09, I consolidated all of my student loans after going through rehabilitation and all of that fun stuff. However, just recently, I began seriously looking into my credit and realized something odd. Instead of my old student loans being marked as refinanced or something to that effect, some still say sent to collections/charged off/etc. Now, I understand that the fact some of them say 120+ days late will stay on my account for 7 years is fine. However, don't the prior loan guarantors have to report correctly that these loans have been refinanced/consolidated? 

Just for reference, the guarantors listing the various possible incorrect statements are AES, PA Higher Education, and even the US Department of Education.

[Tazman81]

It depends.  Did you rehabilitate your loans and then consolidate them or did you just consolidate your loans?

If you rehabilitated your loans and then consolidated them, the status would have been changed.

Unfortunately, if you just consolidated your loans, they would need to update the loan to show a zero balance, but the status that the loan was in a collection would still be correct.    (they would need to report that the collection was paid)

You can try to GW them to see if they will remove it as a good faith jesture since you did consolidate the loan.

[jesseewiak]

OK, I directly reconsolidated, so I guess I'm out of luck. 

However, while EQ and TU are reporting $0 balances, EX is still reporting balances on the old loans. Is this something I contact the credit bureau about or something I contact the lenders about? Thanks again. 

[Tazman81]

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@jesseewiak wrote:

OK, I directly reconsolidated, so I guess I'm out of luck. 

However, while EQ and TU are reporting $0 balances, EX is still reporting balances on the old loans. Is this something I contact the credit bureau about or something I contact the lenders about? Thanks again. 

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Yes, I would go ahead and do a dispute with EX so that they can have that updated.  You may want to also see if a GW letter may help, but for the letter, you would need to contact the company directly.  Good luck.