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Mark8555

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[Help] How to handle this: Change of loan servicer causes massive credit score drop
My federal student loans consists of 8 credit accounts and has a long positive repayment history. The loan servicer changed from the federal government to Granite State Management & Resources. This was a change that was mandated by the government and was not a choice of mine.

During this transition, my repayment history remained positive. However, just recently, the change of loan was automatically reflected as a closure of 8 accounts (from the federal government accounts) and subsequent opening of 8 accounts (to Granite State accounts). This closure and opening of accounts has caused a 30-point drop in my credit score (according to Credit Karma), even though there was no practical change to my loan or loan status, it was simply a change in the loan servicer.

I had a great credit score before this and I'm extremely responsible with my finances. What can I do to reverse this? How can I inform the credit reporting agencies that this is an impractical error? I am extremely appreciative of any help/advice that anyone can provide!!! Thank you.

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