How can I tell if my student loan pause if negatively affecting my FICO 5,4,2 scores?

[pizzadude]

Can you provide any addtional information regarding your loans, i.e. are they paused due to hardship, forebearance, etc.. ?

Also If you pull a copy of your credit reports or FICO score you should see if these accounts are listed as derogatory or clean.

[ncreature]

Both loans are serviced by KHEAA and are paused under Biden's covid relief student loan pause (which is set to expire on 8/31/22).  When I review my reports from myFICO the loans aren't listed as part of collections. But they appear under the account section on myFICO. Under Experian it reports as charge off, other derog, acct. seriously past due, and assigned to collection agency. Transunion shows as NR and the loans don't show for Equifax. I hope this information helps... thank you

[pizzadude]

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@ncreature wrote:

Both loans are serviced by KHEAA and are paused under Biden's covid relief student loan pause (which is set to expire on 8/31/22).  When I review my reports from myFICO the loans aren't listed as part of collections. But they appear under the account section on myFICO. Under Experian it reports as charge off, other derog, acct. seriously past due, and assigned to collection agency. Transunion shows as NR and the loans don't show for Equifax. I hope this information helps... thank you

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I don't think the loans should be reporting as derogatory unless they were already late or charged off prior to the COVID student loan pause.   Put another way, there shouldn't be any additional negative impact for this other than what was already showing for your accounts. 

Were they late or charged off prior to the COVID student loan payment pause ?

[ncreature]

Yes, these loans were previously late and I even completed a rehab program. Since then for more than three years I had a legal agreement in writing on how much that I would pay per month. I also had KHEAA to draft these payments to ensure that they were not late. 

Thank You

[ncreature]

If these are reporting negatively can I send my student pause agreement in to Experian. Since the loans are paused how should they be showing on my credit report? Any advice would be greatly appreciated.

Thank You 

[mfinsmi1]

@ncreature Usuaully after a rehab program the student loans are closed and transffered to new accounts - the old accounts will appear closed and may show the derog marks but the new accounts should be generating positve payment history (as long as ur paying them when you should be) 

As for the pause from the federal govt - your accounts should all be reporting as paid each month the pause in effect so no its not negatibely impacting ur report right now 

[ncreature]

Experian has both of these pause student loans closed and marked in red. The comment reads seriously past due,assigned to attorney,collection agency or credit grantor's internal collection department. The paused payments are reporting monthly with the capital red C (Collection). Before the pause I had these payments directly drafted from my bank every month to ensure that the payments weren't missed. The servicer is Kentucky Higher Education. I have atleast two years  proof of all of the bank drafts prior to the pause. I'm concerned if I dispute what will happen since they have these accounts closed. Will disbuting help or hurt? Thank You

[Mookey67]

You many want to verify if those are private loans. If that is the case then the pause would not apply