Derogatory private student loan is reporting twice on credit report

[jmcmillan]

Is this normal? I have a charged-off private student loan that is reported twice on my credit reports; once under the servicer, and the other under the lender. So I’m basically being punished twice.

[Anonymous]

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@jmcmillan wrote:

Is this normal? I have a charged-off private student loan that is reported twice on my credit reports; once under the servicer, and the other under the lender. So I’m basically being punished twice.

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It can, the original servicer and the new one. This is quite common.

[calyx]

Yep - it's pretty standard for delinquent tradelines - the original holder and the collection agency/servicer who is trying to collect.

[refereeguy1390]

For my student loans in default, I have 14 TL that closed with 0 balance from the original servicer and 14 open ones in collection from the DoE.

[jmcmillan]

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@calyx wrote:

Yep - it's pretty standard for delinquent tradelines - the original holder and the collection agency/servicer who is trying to collect.

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It’s not with a collection agency. It’s the bank who provided the loan, and the servicer who I pay my monthly payments to (Firstmark). Both are reporting an installment loan, plus the delinquencies.

[calyx]

That still sounds right.  When I had FFELs, that's how it reported.   Being private wouldn't change the way it's processed.

[refereeguy1390]

Does one set have 0 balance and closed? Or do they both have balances? 

[jmcmillan]

Now that the loans are in default, the Firstmark tradelines are showing as $0, but the Keybank accounts are showing balances. Both are showing the late payments. Before I went into default, both Firstmark and Key were reporting balances.