I just received a score watch alert that my credit score dropped 104 points to 653 (may 8th). The account that was updated was some consolidated Sallie Mae student loans that I have on automatic payment for more than 3 years. In fact, I make extra prinicipal payments on occassion!
The description changed from:
"Student Loan"
to
"Arrangements made with credit grantor to make partial payments Student loan"
Boy does that sound derogatory! I am on hold now waiting to talk to a supervisor as the first person said I was paying on time, but since I paid extra in February my status was paid ahead and that was the reason for them reporting it like that. How would paying extra almost 3 months ago (and 2 regular payments have gone through since) cause such a problem??
Any suggestions? I suppose I will have to dispute it if they cannot satisfy me on this call. (Still on hold by the way!) i have made extra payments several times in the last few years and never had this issue before...
