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hi Forums just a quick question I have 4 old loans from dept of ed "issued my loan while in school", then marked it as bad debt. long story short navient is on my credit report as "collection" "account transferred or sold; fixed rate". I cant even start to understand the process, what should I do anyone is willing to help please and thank you
Sam
I am not sure if the National Student Loan Data System lists collection agencies, but that is where I would start.
Go to the National Student Loan Data System and click on "Financial Aid Review." Once you create an account or login it will list a recent summary of each of your loans like what type of loan it is, the loan amount, balance, and interest. Click on the individual number of each loan to see more information, including contact info for the servicer for that loan.
You can then contact the listed servicer(s) to get full information on the current status of each loan. Navient is one servicer, so since their name is on your credit report you could skip the step above and just call Navient, but I'm more of a fan of getting the full picture up front.
Some Options: 1) student loan consolidation, 2) student loan rehab, 3) stay tuned to news regarding Navient as they are currently in hot water: https://www.cnbc.com/2017/10/05/pennsylvania-attorney-general-files-suit-against-student-loan-provid...
UGH I have my student loans with them; every time I ask for them to make my loans a single item, they refuse. They come up on my credit as 11 different items and was told because it was a new loan each semester. I just got a notification on here that one of my loans went up $900 something and I have no idea why.
Any suggestions on how to get out of their grip?
@Anonymous wrote:UGH I have my student loans with them; every time I ask for them to make my loans a single item, they refuse. They come up on my credit as 11 different items and was told because it was a new loan each semester. I just got a notification on here that one of my loans went up $900 something and I have no idea why.
Any suggestions on how to get out of their grip?
Having the loans report as separate accounts is not a bad thing - in fact, I can tell your from personal experience that it can be a very good thing. With a higher number of accounts reporting it will make your AAoA calculation more robust to the effects of new accounts and thus, make the acquisition of new accounts much easier. This is what they call a "thick" file.
Now, as to why your account went up $900 - I'm not sure. Are your currently a student? If you aren't a student are any of your student loans on an IBR repayment plan?