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I had two student loans with edfinancial. Im currently in school and am not paying on them asper the terms of the loans.
A week ago, I got a letter from the government syaing they had purchased my loans from edfinancial. The edfinancial letter came a few days later confirming such.
2 days ago I got a scorealert from myfico saying my credit score had dropped by 12 points. When I investigated, the change was in these two loans saying 'Account transferred or sold Student loan - payment deferred' and the balance now showed 0. The new loans from the government have not showed up yet.
Why would this make my score go down. None of this was my doing.
Hmmmm.... I'm going to wager a guess, and hope that someone more knowledgable will confirm or correct me if I'm way off base. By chance, are your student loans your only installment loans? If so, the drop might be because your balance went to zero.
If you have other open installment account(s), I'd be more suspicious, and would recommend that you pull your reports directly from the CRAs and go over them with a magnifying lens. But, having no installment accounts (or all zero balances on them) have been know to drop a score slightly.
It may have also been something completely unrelated. I got a ScoreWatch alert the other day saying MyFico had increased by +12. It said the reason was because " A balance increased on two revolving accounts". I am almost certain that an increase in balance did not raise my score.
In your case i could have been something unrelated to the student loans. ScoreWatch is weird like that.