New Contributor
Posts: 96
Registered: ‎09-04-2012
Re: Consolidate loans to reduce number of installment accounts on credit report?

Yeah deciding whether to consolidate or not can be confusing.  For the majority of time since I left school, my loans were in forbarane or deferment. There were a few months where they were not and I just paid.  Sallie Mae had my loans listed probably 15 times at least on my report. Many of those were listed under the negative accounts portion of my reports with 90 days lates and maybe a 120. They were not in default though.  Some of those months were listed when I should have been in deferment or forbance. I think for one I was acutally taking a year of extra classes after the usual post-graduation grace period ended. I contacted Sallie Mae and sent my informaton to the CRAs, but they would not correct my reports to reflect periods of time I was supposed to be in deferrment that were showing late. That's the only reason I was looking at consolidation, but from what I've been reading there is no real benefit if you're not getting a lower rate.