Consolidation

[Shawndoe79]

I have 12 Navient loans that I am consolidating. Right now it shows as 12 different loans on my credit report. When consolidated it should show up as one right?  If so will that have a positive impact on my credit score?

[SCF]

When you consolidate, the 12 original tradelines will be marked as paid in full and consolidated/refinanced.  A new tradeline (or possibly two tradelines, if you have more than one type of loan in your consolidation) will appear on your report a month or two after the consolidation is finished.  Overall, this will have a very minimal impact on your credit.  You may lose a few points at first from having a new account, but you'll gain those back over time.

[Shawndoe79]

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@SCF wrote:

When you consolidate, the 12 original tradelines will be marked as paid in full and consolidated/refinanced.  A new tradeline (or possibly two tradelines, if you have more than one type of loan in your consolidation) will appear on your report a month or two after the consolidation is finished.  Overall, this will have a very minimal impact on your credit.  You may lose a few points at first from having a new account, but you'll gain those back over time.

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Thanks SCF