2 Loans Transfered - Killing My Score...

[shane82388]

So i guess my two student loans were transferred to another lender and according to credit karma they were "closed"...

Credit Karma also says that my AAoA has dropped to 1 year 6 months...this is KILLING my score...it went from a 726 Credit Karma to a 695...not that that score matters, but is that normal that the account is just not counting towards my AAoA now?

I wonder if it was just totally removed? I had some lates on it from over 2 years ago so i dono if thats really a good thing or bad thing if thats the case...

these are direct loans transfered to "EdFinancial" servicer...

[Chris123nTx]

I know little about student loans but you may get hit again when the transferred loans show up as new accounts. All depends i guess on just what all they transfer. I think you will have to wait and see how they report them, then figure out what if anything you can do. Folks in the know here say accounts being closed do not negatively impact your aaoa for fico scores, but i know credit karma says they do. Since they dont use the fico scoring model it is hard to know just how they apply it.

[MarineVietVet]

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@shane82388 wrote:

So i guess my two student loans were transferred to another lender and according to credit karma they were "closed"...

Credit Karma also says that my AAoA has dropped to 1 year 6 months...this is KILLING my score...it went from a 726 Credit Karma to a 695...not that that score matters, but is that normal that the account is just not counting towards my AAoA now?

I wonder if it was just totally removed? I had some lates on it from over 2 years ago so i dono if thats really a good thing or bad thing if thats the case...

these are direct loans transfered to "EdFinancial" servicer...

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CK only counts open accounts in their calculation of AAoA so you can't rely on their figure. FICO figures both open and closed accounts in AAoA.

[AndySoCal]

When the loans were transferred did the date open remain the same at the lender where they were transferred to? From you post it does not sound like it.