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Posted in Student Loans
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Question By
OrionGal88

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Need help with student loan oddities
I have 2 student loans that I got in 2006. In 2014 I had my loans consolidated and two new ones opened under Nelnet.

Now, I never paid on these. First I was in school, then under the time of no payment. Then I didn't pay (had no finances to do so). So then they were late. Got them consolidated in 2014, and still haven't paid (I'm on a $0 monthly payment because I make too little). Under nelnet I'm considered paid on time, even though I haven't sent a penny.

First - I have FOUR accounts for my TWO loans. One from OSU (where I got it), three from department of education. Does anyone know why on earth I have double the accounts??

So, from the consolidation 3 of the 4 accounts closed, but 1 did not (though equifax). I didn't realize this for a few years. So I wrote to equifax and told them that the open and derogitory account they had for me was actually closed a few years ago and transfered to Nelnet (and open and ok account). The three that closed automatically? They show up as $0 in the list. The one that I asked to close? It shows as nearly $3k. This can't be good for my credit... right? because it shows I closed with a balance, even though the balance was transfered. Also, the account is closed, but there is no close date on it.

So the biggies. How do I get that corrected? Or, I guess, should I try, will it make a difference? Next, I have FOUR CLOSED accounts for 2 loans!! That can't look good either. Can I fix that?? Lastly, how long before I can drop these from my credit? I got them in 2006 while in Oregon, and now live in Hawaii. I never made a single payment, though I did go through the transfer in 2014.
All in all, my accounts show 6 students loans for the 2 I got.

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Top Contributor
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That is not unusual.  I had three loans and the end accounts showed 9.  Each time a loan is transferred to another loan servicer, an account is created and will show on your credit report.  The only time these loans will disappear is when they are paid off.  They are Federally subsidized.  It doesn't matter where you move.  Student loans have no statute of limitations nor are they dischargable in bankruptcy, but remain payable forever as it currently stands.   

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