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Loan Payoff Reporting

Valued Member

Loan Payoff Reporting

Hello Forum Folks!


I recently refinanced my private student loan. As a part of this I received the letter from the original bank that the loan was paid off, the new lender started reporting, etc in mid-December. Despite this,  all three bureaus still report the original loan as open and active. I called the bank today and they said they reported to all 3 bureaus on 12/31 that the loans was paid and closed. Typically when this loan updates for a payment it happens within the first few days of the month, but this month nothing. Do the bureaus take longer to report something as closed? Is this something I need to dispute?


Thanks in advance! 

Message 1 of 3
Valued Contributor

Re: Loan Payoff Reporting

Don't dispute it


some times it takes 30-90 days for all items to be fully updated, i would just be patient and let it get sorted out



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Message 2 of 3
Valued Member

Re: Loan Payoff Reporting

Thanks RSX. I'll hold tight. 

Message 3 of 3
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