Loans taken over by other lenders?
- FrankN
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- Breakinger
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- Wanderer
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Replied by Wanderer on topic Re: Loans taken over by other lenders?
Hello,
I just had a question I was hoping someone could help me with. I just pulled my 3 credit scores and reports and noticed that my previous school loan though Direct Loans(Which was taken over by mohera or something like that) is still showing up as an open account even though I had nothing to do with the transfer. Also, the new company that is handing the loans is on the report as an open account as well.. Should I dispute this and what difference would it have or impact could it be having now? Any insight to this would be greatly appreciated.
Thanks,
Gabe
My guess is that your loan documents allow the lendor to assign or sell the loan anytime they find the need. Since the loan ownership changed they would be a reporting to the credit bureaus the name of the new loan holder (this would be correct). Also, it makes no difference who's name is on the bureaus as long as the reporting is accurate.
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- Gabriel0702
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was created by Gabriel0702
I just had a question I was hoping someone could help me with. I just pulled my 3 credit scores and reports and noticed that my previous school loan though Direct Loans(Which was taken over by mohera or something like that) is still showing up as an open account even though I had nothing to do with the transfer. Also, the new company that is handing the loans is on the report as an open account as well.. Should I dispute this and what difference would it have or impact could it be having now? Any insight to this would be greatly appreciated.
Thanks,
Gabe
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