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Mohela taking their sweet time to update CRA's

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pizza1
Community Leader
Super Contributor

Mohela taking their sweet time to update CRA's

Mohela hasn't updated the CRA's since June.  I was one of the lucky ones that got their SL forgiven, and my Mohela account online shows $0 balance/good standing.  It still shows my full balance though on all the credit reports. Im a fairly patient person (have learned to be over the past 10 years rebuilding from a BK), but this is getting ridiculous. Hopefully they update the zero balance by end of year.  I'll give them that long before I take action. (sighs)

Message 1 of 9
8 REPLIES 8
GatoradeZeroGuy
Valued Contributor

Re: Mohela taking their sweet time to update CRA's


@pizza1 wrote:

Mohela hasn't updated the CRA's since June.  I was one of the lucky ones that got their SL forgiven, and my Mohela account online shows $0 balance/good standing.  It still shows my full balance though on all the credit reports. Im a fairly patient person (have learned to be over the past 10 years rebuilding from a BK), but this is getting rediculous. Hopefully they update the zero balance by end of year.  I'll give them that long before I take action. (sighs)


when I asked nelnet to update balances, they pushed through a dispute on their end, added FCRA comments to all of my tradelines but they did update the balances to $0

 

from what I've read, Mohela is 3x the crapshow Nelnet is, but hopefully that's a button a CSR can push for you if you call 

 

ofc great lakes was actually a good servicer and they got dissolved into nelnet 

Starting FICO 8:

Current FICO 8:

3/6, 5/12, 14/24

Message 2 of 9
JoeRockhead
Senior Contributor

Re: Mohela taking their sweet time to update CRA's

This is the second post in the last few days talking about the very same issues with them, and subsequently wreaking havoc with some people's credit.

 

Maybe if enough people start filing complaints with the CFPB they'll get their act together.

Message 3 of 9
Benny2019
Member

Re: Mohela taking their sweet time to update CRA's

Mine has not been updated either.  They used to update monthly, but stopped once my student loans were forgiven. 

Message 4 of 9
hoosier64
Valued Member

Re: Mohela taking their sweet time to update CRA's

Since this is happening with multiple lenders, I'm wondering if these issues might be related to the student loan on ramp. I could see how the on ramp might require significant updates to lender IT systems or cause them to stop reporting any new information to the CRA's.

BK13 Filed: 4/19
BK Discharged: 10/22

Starting FICO 8 (10/22): 623 / 612 / 613
Current FICO 8: 691 / 675 / 685
Message 5 of 9
pizza1
Community Leader
Super Contributor

Re: Mohela taking their sweet time to update CRA's

Im nervous how the SL reporting to the CRA will show, and what comments are used. Sometimes comments under an account reflect negatively. Ive heard that it will will say "discharged", but Im hoping not. The word "discharged" is also used loosely to refer to Bankrutpcy. I guess we will find out soon.
Message 6 of 9
pizza1
Community Leader
Super Contributor

Re: Mohela taking their sweet time to update CRA's

Update: 2/18/24
Started getting alerts that "an account has been closed", so logged into a few of my accounts that give reports/fako scores, and Mohela was showing closed. BUT....the close date was 12/28/21. Naturally, I dont really believe that due to it being fako reports, so Ill wait till next month and pull a true credit report to see hows it reporting, and report back here.
Message 7 of 9
grant
New Visitor

Re: Mohela taking their sweet time to update CRA's

I am like you. My forgiven email was dated 8-21-2023. Looking forward to them notifying the Credit agencies. Called in Jan and they said call back in Feb. On hold now. 50 min so far.

Message 8 of 9
grant
New Visitor

Re: Mohela taking their sweet time to update CRA's

Hi Thank you so much,  for the idea to report to  CFPB. I did it and just got this back.

We write to inform you that there was a delay in Credit Reporting regarding your recently forgiven federal student loan(s). As of January 31, 2024, we have reported your loan(s) to the Consumer Reporting Agencies (CRAs) as forgiven with a $0.00 balance effective as of the forgiveness date. Please allow the CRAs time to update this information on your credit report. It’s important to note that this correspondence does not apply to your loan(s) with an active balance. You would have received a separate communication identifying which of your student loan(s) have reached a $0.00 balance. We sincerely apologize for the delay in reporting. 

As an assigned federal servicer for the U.S. Department of Education, Office of Federal Student Aid (FSA), MOHELA furnishes information regarding student loan borrowers to CRAs. In this capacity, MOHELA acts as an information furnisher, on behalf of FSA. As an information furnisher, MOHELA has an obligation to ensure the integrity and accuracy of information reported to CRAs. While information furnishers have an obligation to investigate and correct or remove errors, MOHELA cannot remove information that has been correctly reported.

If you have questions or concerns, please contact us using the information below.

Sincerely,

MOHELA

Message 9 of 9
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