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Consolidating school loans through Greatlakes

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Contributor

Consolidating school loans through Greatlakes

Hello, I recently consolodated my school loans through greatlakes. Now on my credit report in collections it shows U S DEPT OF ED/GSL/ATL four times with no original creditor, No company sold and a one dollar balance. I was wondering if this was something that I dispute now that the loans are consolodated into one or do I just keep these on my credit until the consolodated loan is paid in full?

 

 
My current scores as of 02/22/19
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6 REPLIES 6
Established Contributor

Re: Consolidating school loans through Greatlakes

You said at consolidated... Is the process finished? If I'm not mistaken, the loan can be picked up by a new Servicer. Is Great Lakes your new servicer or your old one?
I'm not too familiar with the transition but there are a few other recent posts on the topic. Maybe you could ask one of the members who already consolidated.
Good luck.



Message 2 of 7
Contributor

Re: Consolidating school loans through Greatlakes

Yes consolidated all of my loans into one loan through greatlakes my new provider. With that being said my new loan is on my credit and all of the smaller ones that were consolidated are also still on there with a $1.00 Balance. I will definitely search for some consolidated posts/

My current scores as of 02/22/19
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Message 3 of 7
Established Contributor

Re: Consolidating school loans through Greatlakes

Hmm, something about that didn't sound right. I've read here from other members that consolidated loans have been showing up as paid for borrowers. I've never heard anything about $1 balances. I would call your original servicer, then your new one, and the Dept of Education until I got an answer. A dispute might also fix this if you send in the paperwork showing the previous loans paid off by the consolidated loans. There are a few avenues for complaints if you need to take it that far to get it resolved. I'm unsure of the impact to your credit. I can't imagine a balance due on closed loans would be good.



Message 4 of 7
Established Member

Re: Consolidating school loans through Greatlakes

I'm consolidated though great lakes. All of mine say paid zero balance. Some show the late payments and some dont. I'm trying to get those removed. Worst case they fall if 2 years. Although some lates will fall of this year.
Message 5 of 7
Established Member

Re: Consolidating school loans through Greatlake

I'm consolidated though great lakes. All of mine say paid zero balance. Some show the late payments and some dont. I'm trying to get those removed. Worst case they fall if 2 years. Although some lates will fall of this year.
Message 6 of 7
Established Contributor

Re: Consolidating school loans through Greatlake

You could always try to dispute them but they are accurately there, so that might not do anything. Those two years will go by like nothing though. Are the worst of them falling off this year or in two years?



Message 7 of 7