First let me introduce myself since I am new to these forums - and I am beginning to try and rebuild my credit responsibly. I took the first steps earlier this year by paying off all of my credit card debt (not very much), all of which had the accounts closed. Now I am trying to refine my credit reports by disputing any data I may feel is not completely accurate. One of these issues is related to my student loans. I had quite a few loans and lenders over the course of my time in school, and I recently consolidated all of them into one loan through the Dept of Education. These loans are shown to have $0 balance as reflected by the fact that the Dept of Ed paid them off through the consolidation, but I have 12 loans that, instead of saying "consolidated" or "paid in full" or something of that nature, say "closed, account transferred/sold". I understand that this occurs when lenders sell the accounts to one another, but is this going to reflect negatively on my report?? The only thing I can find in relation to "account transferred/sold" is for charge-offs, which I assume are bad and definitely do not apply to my loans.
Grateful if someone can clarify whether I should dispute these items, and if so, what it should be saying instead. Thanks!!
Edited by mpc578, 15 November 2011 - 11:24 AM.
removed personal info