topic I have never been more confused.... in Rebuilding Your Credit

I have never been more confused....

Anonymous — Fri, 06 Mar 2020 16:37:03 GMT

I just got an alert saying that my credit score had jumped up 80 points. It is now showing that both of my Navient accounts are closed and the balance was paid and now shows a zero balance. The loan was in deferment. How in the world could this have happened? I am not getting my hopes up about this being accurate. I am honestly freaked out!

Re: I have never been more confused....

FireMedic1 — Fri, 06 Mar 2020 17:12:10 GMT

Where did this info come from? Was it a Vantage site?

Re: I have never been more confused....

donkort — Fri, 06 Mar 2020 17:29:50 GMT

How much do you still owe?

Here's hoping the "mistake" is semi-permanent, and will remain until you're off deferment. Especially when it's time to buy a house, get a credit card, or finance a car.

Re: I have never been more confused....

Anonymous — Fri, 06 Mar 2020 17:47:42 GMT

I had the same thing happen to me today. All three CA show them closed and paid and in deferment. Have you had any weird balance changes lately? I have had 3 of my accounts have a large chunk taken off, put back on, taken off, and then put back on over the last two months.

Re: I have never been more confused....

Anonymous — Fri, 06 Mar 2020 17:53:13 GMT

My vantage sites had them all still listed. It was FICO scores that had them all deferred. Last week they were still on my FICO Experian report.

Re: I have never been more confused....

FireMedic1 — Sat, 07 Mar 2020 00:01:45 GMT

I'll ping @Anonymous our in house SL expert and get a great explanation why or how.

Re: I have never been more confused....

Anonymous — Sat, 07 Mar 2020 01:11:04 GMT

My DP is that I have SLs as old as from 2001. I have had them in good, bad, and ugly statuses. I am just now getting them rehabbed, but every year they are in default they will re-age the accounts by bringing them current for a couple months, taking off all the interest and fees, and then boom! They blow your CRs up when they tack them back on. They then go from current to collection (or however they mark it), and with a higher amount owed than before. Mine just updated today too. I have seen this for many years as embarassing as it is to admit. Scores go up and reports look good like they are in good order and then tank and reflect badly again. If your accounts are in good order, but gaining interest charges during derrement or forbearance (depends on the terms if they gain interest or not during that time), those also may update at once. Depends on the status of your SLs.

Re: I have never been more confused....

Anonymous — Tue, 10 Mar 2020 21:17:39 GMT

Are these federal loans @Anonymous ?