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Posted in Student Loans
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Question By
nlowndes

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Consolidated Student Loans Still Appear
I consolidated my student loans about a year ago. Now I have 13 accounts, 12 of which say they are closed and transferred, and then the consolidated one that has my current information in it.

Is it possible to get the transferred ones to remove from my credit? It's counting my student loans twice and massively inflates my DTI (which is already inflated from the student loans). Plus, when I consolidated, many of the 12 accounts were 60 or 90 days past due. I've kept up with my payments for the last year now, but the one good line doesn't outweigh the 12 bad ones.

Is there a way to get this off my credit report?

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Unfortunately, there isn't a way to get the transferred ones removed. It is a part of your credit history and will remain on your report for 7 more years. Lenders want to see your true credit history and not just the good payment history of the last year. Although, your FICO score will factor in how long it has been since you made a late payment.

You said that it is counting your student loans twice. You credit report should show a $0 balance on the closed accounts since the balances have been transferred to a new lender and you no longer owe the previous lender. If it is showing a balance on closed accounts, it is an error and you should dispute it.

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