@Anonymous wrote:
<p>Hello all,</p>
<p>Few months ago, I didn't know that I had to start making payments towards my student loans debt. As a result, my credit score went down by over 200 points, and my on-time payment percentage went down as well. I reached out to Navient to try to fix the issue. We were able to come up with a payment plan, and my credit went up by about 100 points. A couple of weeks ago, I made my 1st payment (I didn't pay off the loan), and told myself that things were getting better...</p>
<p>My credit score updated a few hours ago. My credit score went down by 116 points (116!!!). My credit utilization is at 9% and I have 0 item in collections. I don't know what's happening nor if it will go away. All I know is that it's putting me in a terrible mood, and this whole situation is depressing. I can't see myself having a future with that type of credit. Please, help. </p>
First things first breath 
Are you sure nothing else has changed on your account?
Also, does your score matter at this time?
Are you trying to apply for anything or obtain more cards?
First things first breath
Are you sure nothing else has changed on your account?
Also, does your score matter at this time?
Are you trying to apply for anything or obtain more cards?
Thanks for replying. A couple of things has changed, but it's hard to see how they are causing me 116 points:
1) My Navient balance has increased by $145 because of interest (I plan on increasing my monthly payments to rid myself of this burden)
2) The following remarks were removed from my credit report: Student loan - payment deferred
Is it possible that I lost the points because my loan is no longer deferred?
Here's how my report looks as of now:
-Credit card utilization: 9%
-Derogatory marks: 0
-Total accounts: 27 (20 of them are from Navient and I have 7 credit cards)
-Payment history: 89% (The missed payments that I mentioned in my post brought my payment history down)
-Age of credit History: 2 years 11 months
-Hard inquiries: 9
Allow me to answer your other questions now:
My score matters. I am currently engaged to my wonderful lady. We plan on getting married by November, and our first step is to buy a house. A good score would assist us in receiving the lowest interest rate available.
@Anonymous wrote:First things first breath
Are you sure nothing else has changed on your account?
Also, does your score matter at this time?
Are you trying to apply for anything or obtain more cards?
Thanks for replying. A couple of things has changed, but it's hard to see how they are causing me 116 points:
1) My Navient balance has increased by $145 because of interest (I plan on increasing my monthly payments to rid myself of this burden)
2) The following remarks were removed from my credit report: Student loan - payment deferred
Is it possible that I lost the points because my loan is no longer deferred?
Here's how my report looks as of now:
-Credit card utilization: 9%
-Derogatory marks: 0
-Total accounts: 27 (20 of them are from Navient and I have 7 credit cards)
-Payment history: 89% (The missed payments that I mentioned in my post brought my payment history down)
-Age of credit History: 2 years 11 months
-Hard inquiries: 9
Allow me to answer your other questions now:
My score matters. I am currently engaged to my wonderful lady. We plan on getting married by November, and our first step is to buy a house. A good score would assist us in receiving the lowest interest rate available.
Good reason to what to fix your score.
You might want to have a mod move this to Rebuilding credit or ask the question again in that sub. Not sure how much they like asking the same questions in two separate sections.
Someone there should be able to help you better.
