Wells Fargo Student Loans No Longer Showing On all 3 CR

[Anonymous]

I have a $15k Wells Fargo loan that I am still paying on but it is not reporting on any of my credit reports. It was originally on there last year but it is no longer there (for past 5 months). It has not been sold as I still pay Wells Fargo directly every month. I am in the process of rebuilding my credit and Wells Fargo is one of my positive accounts. Has this happened to anyone else? Is it worth going through the process of trying to get this added back or will it reappear eventually?

[medicgrrl]

I would call Wells Fargo and ask them why they are not reporting and if they say that it should be, request that they update all the CRA's because it has stopped reporting.  If it's no longer on your report then you need to go directly to Wells Fargo.  If it's on your report, but not updated, you can try a dispute, but that may not necessarily fix the problem long term.

[RobertEG]

Some loans are sold to another creditor, and yet the original creditor still handles payments.

There is a business practice called factoring, where a creditor sells their account receivable assets in good standing to another creditor in order to instantly convert the receivable (future) asset to instant cash.

Some factoring agreements include provisions that the original creditor continue to process the account with the consumer.

Thus, the fact that you are still paying the OC does not mean that they still own the debt.

Having factored the debt, they might wish to then delete any prior credit reporting in order to remove any update obligations or need to process any consumer disputes.