Account Transferred and Origination Date

[Queen_Majyk]

I have a student loan through Sallie Mae. The original date is March of 2001. They closed the office I was working with and transferred me to another office. The new office created a different loan number and says that the loan starts in February of 2003. Not to mention the fact that "both" loans were reporting...

 

I was thinking that this made my average age of accounts lower so I wrote to Sallie Mae and asked them to update the new loan with the old loans date of origination. There response was that they can only report the date that their office took over the loan???

 

Two things - is their response valid and does the date on an installment account affect your average age of accounts or is it just revolving accounts?

 

BTW, the loan is current and never late if that makes a difference.

[Queen_Majyk]

mountainmommy said I should...bump!

[JoeDirtPharmD]

I have a student loan through Sallie Mae. The original date is March of 2001. They closed the office I was working with and transferred me to another office. The new office created a different loan number and says that the loan starts in February of 2003. Not to mention the fact that "both" loans were reporting...

 

I was thinking that this made my average age of accounts lower so I wrote to Sallie Mae and asked them to update the new loan with the old loans date of origination. There response was that they can only report the date that their office took over the loan???

 

Two things - is their response valid and does the date on an installment account affect your average age of accounts or is it just revolving accounts?

 

BTW, the loan is current and never late if that makes a difference.

 

I have 24 student loan accounts listed - all via Sallie Mae. Some they have cosed/transferred, and never have the old dates appeared on the new accounts. Yeah - it prob affects age of account a little bit, more so if you have 24 student loan tradelines reporting like me, but not significantly, I don't believe. Whether it's legit for them to do so, I say who cares, simply because I'm busy tackling other tradelines.

[Queen_Majyk]

24!!! That would make me crazy- even if it did not hurt my score! I have relatively young history and I don't need the added penalty of this one if it will affect my age as well.

 

To each his own I guess. Joe - you are a better man than me - of course, I am a woman - details...off to rant unintelligibly in a corner...

[Queen_Majyk]

Anyone else have experience with this?

[lgt525]

I have many student loans, now they are all consolidated, but the loans before consolidation post as separate trade lines with separate dola, balance, etc, even if they are just a transfer of the paper work of the original loan. Some loans are posted 4 or 5 times on each credit report, once for each time they were transferred to another office, etc.

 

Since each loan is it's own trade line, even if it is the same loan that has been tranferred elsewhere, each has it's own age, etc.

[Queen_Majyk]

I am noticing that is a common occurrence - so I guess my question is if this all figures in to average age or not. It seems like this is a legal form of re-aging and if these accounts are factored in to your FICO - wouldn't the adverse reaction be against all people with student loans...

 

*sigh* not that I think FICO should be fair or anything...

[lgt525]

It is a legal form of re-aging. But since student loans have no SOL and are due forever, it's just reaging in terms of length of credit history, etc. Believe me, having the same loan show up negative 15 times (5 on each credit report, five different transfers,all showing negative history) has totalled my fico!

 

I can totally relate to any student loan complaints or issues you are having!

[Queen_Majyk]

Its good to know that I am not alone in my misery but I am still PO'd.

 

One of my credit card companies transferred to another completely different company - new account number - new everything - and they reported the original date!

 

Why Sallie Mae can't do the same - and its just another office - is simply beyond my comprehension...

 

But then - most of this stuff is - off to mutter to myself in a corner again.

[jeepgirl20]

Are student loans supposed to show right away, or are they supressed? How did yours show up queen?

Hubby just got his first student loan for grad school. It shows up on EQ. But TU reports it to us as "supressed".

I dunno about Experian. They are probably looking at his report and trying to figure out which one will screw us the most!

[Queen_Majyk]

None of mine were deferred at all so they showed up immediately - but I had to start paying immediately as well.

[jeepgirl20]

he doesn't have to pay for his until after he gets out of school... i wonder if that makes a difference.

[Queen_Majyk]

I bet it does. I had another installment loan that did not show up until the payment became due. The company reported the month after I paid the first "due" installment on it.

[Queen_Majyk]

Since there seems to be several of us in the same boat - does anyone else know if we have any recourse to get the loan to show as one loan one orginal date?

 

If not - does anyone know how much this affects the score since they are installment loans...