cancel
Showing results for 
Search instead for 
Did you mean: 

Need help student Loan being reported by Fedloans but I am paying Allied Interstate

tag
Covenant
Established Member

Need help student Loan being reported by Fedloans but I am paying Allied Interstate

i disputed the reporting of Fedloans to all 3 credit bureau. I contacted Fedloans Services and they said they no longer service my loan. My loan was given to Allied Interstate and I making my payments. Why then can Fedloans Services continue to report my loan. I disputed it and Transunion says it's resolved and stays on. That's double reporting on same loan

Message 1 of 5
4 REPLIES 4
SCF
Valued Contributor

Re: Need help student Loan being reported by Fedloans but I am paying Allied Interstate

The historical information from when Fedloan did hold your loan will remain on your report until it ages off.  The entry from Fedloan should indicate that it has a $0 balance, is closed, and what happened to the loan (for instance, transferred or refinanced, depending on the exact circumstance).

Message 2 of 5
Covenant
Established Member

Re: Need help student Loan being reported by Fedloans but I am paying Allied Interstate

How can 2 agencies report the same loan?

Message 3 of 5
SCF
Valued Contributor

Re: Need help student Loan being reported by Fedloans but I am paying Allied Interstate

Because your loan was held by one agency in the past (so they can report the information that they know about the loan - when it was opened, when it was closed, what your payment history was while they held it, what happened when the loan was closed), and is now held by another agency (who can report all of the same things, but only for the time period they had the loan).

 

Fedloan should report that your loans with them have a $0 balance, and mark them as "paid/transferred/refinanced" or similar, depending on exactly why you have a new servicer.  Your credit report is not just a reflection of your currently open accounts, it also provides historical information for the past 7-10 years.

Message 4 of 5
Covenant
Established Member

Re: Need help student Loan being reported by Fedloans but I am paying Allied Interstate

Thank you very much

Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.