Hi everybody! It's been a long time since I have posted here (very busy with school) and I have a question for ya'll. Every-time I get a new student loan, the bank opens an account for the amount the loan was for and then transfers it to another account. What this has done is left me with about 15 TL's that say "transfered or sold" all from the same bank. Are these bad? Are they hurting my score? Is it better to have all these accounts with no balance? And, if they're bad. How do I get rid of them. Thanks a lot.
These shouldn't be bad Now if they were COed, then Account transferred or sold, then that would be a problem, the problem is with the CO, and not the transfer or sale notation. Especially with student loans, banks typically may grant them, then sell the student loan account to either a state government associated agency, or another bank to free up the money for other uses (which aren't payment deferred for at least four years). I always was perplexed as to why the student loan apps asked the student which bank they wanted to get the loan from, when almost immediately the state student loan agency would be purchasing the account, seemed to be less efficient then to just have the state student loan agency be the originating grantor... But, governments aren't known for efficiency are they...
If you get a denial which lists that as a specific reason, *THEN* you can ask the bank to provide the company with a written explaination of the accounts, or ask that they delete the transferred accounts. I don't think anyone would deny based on that alone, but then there is a first time for everything. As long as its listed as an educational loan though, most companys realize that there is a mininum of one loan per semester, and each one is a separate account, so when educational loans come in to play, there will be a large number of accounts.
