topic Re: AES/Pheaa reporting duplicates in Student Loans

AES/Pheaa reporting duplicates

Anonymous — Tue, 16 Feb 2010 20:46:11 GMT

Okay, here's the deal, I had 4 seperate student loans, which are reporting to all 3 credit bureaus. Transunion and Experian are both reporting accurately but Equifax is reporting it twice. You'll see the account names begin with AES and Aes/Pheaa. For Transunion, they only report as account name AES.

For example, accounts ending with 0002, both have the same date opened and both are zero balance. If I click Details, both report the same exact information. I wouldn't mind so much that these accounts are being reporting twice if I didn't miss any payments but unfortunately I did when I was laid off and didn't know I could defer payments and I'm trying to get some of these lates of my CR.

I wrote a dispute letter to Equifax and finally heard back a reply today. Their response, "Student loans are not considered duplicate accounts. They are reported according to disbursement of funds under the same or similiar account numbers, usually the SSN."

What do you think? Thanks.

Re: AES/Pheaa reporting duplicates

Anonymous — Tue, 16 Feb 2010 21:30:10 GMT

Student loans can report multiple times. You may consider something one loan, but if there is a subsidized and unsubsidized portion of that loan then it can report twice. I haven't had experience with this scenario, but my understanding is that if one loan pays out at multiple times then it is also allowed to be reported seperately. And if you default on a student loan they can report the collection as an additional entry on your report. If the "pays account as agreed" part of your information is true, then I would guess that these multiple aged and paid as agreed accouts are probably helping your Equifax score rather than hurting it.

Re: AES/Pheaa reporting duplicates

Anonymous — Tue, 16 Feb 2010 23:06:53 GMT

Hmmm...the entries you are seeing are seperate for the unsubsidized part and the subsidized part. For example, entry ending in 0001 and entry ending in 0002, one is unsubsized and the other isn't.

Status is Pays account as agreed but I consolidated the loans 3 years ago, I don't think it's doing my credit score any good. The late payments are multiplied because of the duplicate entries. Transunion and Experian aren't reporting it twice, so my late payment total amount is significantly lower.

Err...

Re: AES/Pheaa reporting duplicates

Anonymous — Tue, 16 Feb 2010 23:38:27 GMT

Have you tried purchasing your FICO score for Equifax and Transunion? If you've never signed up for ScoreWatch here at MyFico, you could even get your Equifax score free and just have to buy Transunion. Experian no longer sells the true FICO score, so don't bother with that one, but if you get the FICO scores for Equifax and Transuion then you can compare them and see how much this is hurting you.

I'm in the same boat, except my loan completely defaulted and was sent to collections before I paid it off. It's really frustrating that one defaulted loan reports as 3 negative collections on my report - once for the original loan, and two more times for the subsidized and unsubsidized part once they went to collections. One of the student loan experts here told me I was lucky it wasn't reporting 4 times!

Re: AES/Pheaa reporting duplicates

Anonymous — Tue, 16 Feb 2010 23:48:51 GMT

Yes I have Score Watch purchased on Equifax and have purchased my fico score with Transunion, both scores are close but there's quite a few differences between the both of them. Transunion is completely cooperative thus far, Equifax is so so and I won't even get into Experian.

Agree, frustrating it is. Especially when you are doing everything in your power to correct your mistakes but they insist on not wanting to remove any negative information.