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Direct Loan Servicing Transferred Loan

Started by iwantahouse2012 , Apr 22 2012 07:22 PM

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4 replies to this topic

#1 iwantahouse2012

Members
48 posts

Posted 22 April 2012 - 07:22 PM

Logged on to Direct Loan Servicing to set-up my payment for the end of month. I was a bit surprised to see my balance was zero. After a bit of research, it appears my loan was transferred to Ed Financial Services. Anyone else have this happen? Why would my loan be transferred?

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#2 Sandscrit

Forum Lead Pod
869 posts

Posted 22 April 2012 - 08:35 PM

Logged on to Direct Loan Servicing to set-up my payment for the end of month. I was a bit surprised to see my balance was zero. After a bit of research, it appears my loan was transferred to Ed Financial Services. Anyone else have this happen? Why would my loan be transferred?

It might have been sold to EFS. Do you have all the records of past payments?

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#3 iwantahouse2012

Members
48 posts

Posted 22 April 2012 - 09:31 PM

I pay online each month so I do have those records. I just wonder how it is going to affect my FICO. I am guessing it will close the two tradelines for the loans and open two more. Wanting to make an offer on a home soon so I am hoping it does not affect my FICO much. A bit irritated by it all!!

Logged on to Direct Loan Servicing to set-up my payment for the end of month. I was a bit surprised to see my balance was zero. After a bit of research, it appears my loan was transferred to Ed Financial Services. Anyone else have this happen? Why would my loan be transferred?
It might have been sold to EFS. Do you have all the records of past payments?

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#4 vol4life

Members
10 posts

Posted 27 April 2012 - 09:47 PM

They also sold mine to Sallie Mae, and after contacting them about it they told me to contact Sallie Mae for now on and no more contact with them

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#5 jolla

Members
571 posts

Posted 02 May 2012 - 10:47 AM

Mine were sold to CornerStone.

The CornerStone website looks like a phishing site; I didn't want to register on it at first. https://www.mycornerstoneloan.org/