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tysonbodavis

student loan consolidation causes score to drop???

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hello,

I have recently consolidated (within the last 60 days)my husbands studen loans from nel net to sallie mae. there is a new trade line showing on all 3 cr for sallie mae for $26k which has caused his credit score to drop by about 45 points. the nelnet accounts are still showing open with balances. once the nelnet loans are showing pad how long does it normally take for the score to go back up?

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You might want to take a good look at the whole credit report. That looks more like a drop for something derogatory being added. Even when they added all my loans back on when I was in a state of transfer, my score never dropped that much.

If the loan is really the case. It will go back up after a couple of months but you would have lost age with the other accounts so it won't go back up so much since you're starting new.

Seriously, I would check the CR very carefully in all the fields. Better if you used the current one and an old one before the drop for comparison.

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