Direct Loans

[Anonymous]

It shouldn't affect your score.  It's no fault of yours.  Usually they include a note that the account was transferred.  This happened with several of my student loans too, and it was a nuisance trying to keep up with who had my account next.  That's why i transferred all loans to Direct Loan in hopes that dealing with the Fed gov directly might stop all the account transferring - but I see i must've been wrong - that's disheartening.   In any case, be sure to keep all statements or whatever paperwork you have.   I agree with whoever said contacting them to find out who has the account, account details, etc.  Make contact with the new loan holder for confirmation and payment schedule.   

[Maldanado]

I called and spoke with a customer service rep for Direct Loans. She said that they are consolidating loans, and instead of having accounts A-Z it will be just one account. Either way she said it will post as a new account after your next payment, but the account will be aged properly. So I'll have 44k owed on a 14 year old account rather than a 1 month old account. She also said it shouldn't hurt my score, but if it does to call them back.

[Anonymous]

I just checked my CR and EQ is now showing the new/old loans.

Both 'new' loans in my case are backdated from '98 along with my old 'closed' loan. So it tripled AAoA in my case

[Anonymous]

Same thing for me. Also, I found on my Experian that they closed the old account, opened each loan separately and then did not update any of my payments since nov 2011. I suggest checking all three of your reports to make sure that with the new accounts, they have reported all your payments since the move. I have put in a dispute for them to update the balance and payment history.