deferred student loan

[paturner]

I'm confused about how student loans affect the credit score. I recently filed a hardship deferrment my loans. I made a small monthly pymt but apparrently the interest was added to the loans. I recently noticed a loss of 30 points in my score and when checked it was because of the interest added to my student loans. I called fico customer service to find out if this was a mistake and was told  that the loans changed and somehow reported as new credit. This has never happened before and I've had student loans forever and the balances have changed in the past based on other deferrments that I filed. I'm very confused and upset. It's taken me a long time to build my score up from 593 to 700. Any ideas what happend and how I can fix. Oh I called student loan folks and they stated nothing had changed in the way they report the loans. I consolidated two large loans about 5 yrs ago and for some reason they're now reporting on my credit file as two seperate loans. I have filed a dispute with equifax but have not heard back yet.  

[laz98]

Did you get your credit score here?  (Sounds like you did, but I want to make sure)

Deferment shouldn't have any effect on your scores at all.  Your scores could have dropped because of the increase in balances, but 30 points sounds like a lot for installment accounts.  Are you sure nothing else changed on your reports?

[paturner]

I wasn't sure exactly what had happened so I called myFICO customer service and that's what they said.

[laz98]

Lots of people's student loans are reporting that way now; I doubt that disputing your accounts will change that.

I doubt that balances increasing would drop your scores that much, since installment debt is such a small part of your overall score.  But I think I said that already

Anyway, have you looked closely at yoru reports to see if anything else has changed?  No new accounts, late payments, increased revolving balances, etc.?

[paturner]

I was surprised that it dropped it as well. That's the reason for my call to customer service. They directed me to the history on my account and where it showed what happened with the student loans. It only showed increases in balances.  I got a copy of one bureau report. I guess I should try to get all three.

[laz98]

Definitely get all three.  So nothing changed with any of your other accounts, either?  Credit cards, mortgage, etc.?

[paturner]

I may have have purchased on few things on my credit cards but never enough to cause a Loss of 30 points. I can't figure out what happened. My accounts are all in good standing and have been for some time. I couldn't figure out how this happened so I filed a dispute so they could check out my student loan balances and possibly figure out what's going on.