Direct Loans

[Maldanado]

For some reason I'm just noticing that this month my Federal Direct Loans are showing a $0 balance and saying transferred/sold on my reports. The account is in good standing for 13+ years, and the actual balance is roughly $40,000. I know eventually the balance will show back up, but will it kill my scores?

[GoodCredBen]

This would probably be best suited for the student loan forum, but all it means is that they sold it to someone else.

you cal call them and see who the person you wil now be paying is. 

[Anonymous]

My Direct Loans say the SAME exact thing .. the first time i saw it i was like **bleep** !!!! the only thing I can think of is that they migrated their website within the last month and maybe they are changing names or something .. I have NO real decent reason ... but seeing transfer/sold definitely FREAKED me out ... mine is even under CLOSED ACCOUNTS with a $0 balance PAYS/AGREED... lol Oh how I wish that were so very true !!

[MattieNumNums]

Direct loans transfered all of there loans. Its showing up the same on my credit report but I was told that this would change once the loan information is all updated.

[wednesdayaddamsd]

Did anyone who had this loan show up with a zero balance have a score change at all? Up, down, or no change?

[Anonymous]

I had no score change when they changed my balance

[Anonymous]

Mine dropped and my AAOA when down 4 years as my student loan with Direct Loan is my oldest account....

[Booner72]

No change

[thebanjoman]

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@Anonymous wrote:

Mine dropped and my AAOA when down 4 years as my student loan with Direct Loan is my oldest account....

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It shouldn't affect your AAoA until it drops off your report entirely, some sites like creditkarma will show an open AAoA which is contrived.

[Jazzzy]

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@thebanjoman wrote:

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@Anonymous wrote:

Mine dropped and my AAOA when down 4 years as my student loan with Direct Loan is my oldest account....

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It shouldn't affect your AAoA until it drops off your report entirely, some sites like creditkarma will show an open AAoA which is contrived.

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I agree. This account will still show and be counted in AAoA for your FICO scores. Doesn't matter whether it is open or closed. I'm going through this as well, and I don't think the account closing affected my score...if it did, then only a tiny bit. I'm curious to see if it is counted as a new account when they open it back up. That will make me angry because it will lower AAoA.