I have a little under $20k in (mostly subsidized) student loans. First they were Great Lakes. Then they sold to Nelnet. Then they were sold again to Edfinancial. Fine, whatever.
But despite transferring my accounts back in June 2023, Nelnet still hasn't updated my credit file to show that they were transferred. Great Lakes does show this.
So instead of $20k, it looks like I have $40k in loans.
I've messaged Nelnet asking them to update and also contacted Experian to dispute the error. But I've also heard that it can take awhile and often nothing gets resolved.
Am I just SOL until Nelnet gets off their ass and updates? I have good FICO scores (800+) but am worried about DTI ratio when applying for new credit lines...
@Thorin809 wrote:I have a little under $20k in (mostly subsidized) student loans. First they were Great Lakes. Then they sold to Nelnet. Then they were sold again to Edfinancial. Fine, whatever.
But despite transferring my accounts back in June 2023, Nelnet still hasn't updated my credit file to show that they were transferred. Great Lakes does show this.
So instead of $20k, it looks like I have $40k in loans.
I've messaged Nelnet asking them to update and also contacted Experian to dispute the error. But I've also heard that it can take awhile and often nothing gets resolved.
Am I just SOL until Nelnet gets off their ass and updates? I have good FICO scores (800+) but am worried about DTI ratio when applying for new credit lines...
I was able to get Nelnet to report an updated balance when I called them and just asked them to do so, they added dispute comments to all of the tradelines, but they fixed the balance and changed it to zero
I would call though, I assume they just ignore emails
@GZG wrote:I was able to get Nelnet to report an updated balance when I called them and just asked them to do so, they added dispute comments to all of the tradelines, but they fixed the balance and changed it to zero
I would call though, I assume they just ignore emails
Thanks! Their offices are closed right now (it's 10pm eastern, so expected), but I'll give them a call in the morning.
@pizzadude wrote:I wouldn't worry too much about the double reporting, hopefully as mentioned above it can be remedied via a phone call. Also I don't think it will be hurting your FICO much, many people have large student loans balances but still have good scores.
I have pretty good scores, I'm just worried about it looking like a far higher DTI ratio.
Edit:
I called them this morning and they said they will update it at the EOM, so we'll see in 7 days...