What does Status: Transferred mean?

Discussion in 'Credit Talk' started by Shirley, Jul 19, 2001.

  1. Shirley

    Shirley Well-Known Member

    I have a derog on all three reports that should come off in 12/01.

    On TU and Equifax it's listed as a Collection Account with but on the Experian report it's listed under Accounts in Good standing as:

    Gulf State

    Status: Transferred.

    What does that mean?
  2. NanaC

    NanaC Well-Known Member

    I have that on my student loans that were transferred to another lender. It wasn't bad..just meant someone else took over my student loan.
  3. KristyW

    KristyW Well-Known Member

    Pretty common in the mortgage world where your loan will change hands about 4 months after you get one. Should have no effect on your credit.
  4. supershawn

    supershawn Well-Known Member

    You know, I think it 'does' hurt your score a little. I have two accounts that have been transfered and show transfered status, and a 'new' account added to my CR for the 'new' lender. It looks like I have a new account, just opened, even though it's the same account I have had for years.

    This is bad because 1) It stops the reporting of a long term account and 2) looks like a new line of credit has been opened. It really hurts your average account age.

    Any thoughts on this?

  5. KristyW

    KristyW Well-Known Member

    If anything, I think it helps.

    I would think, in the case of mortgages, that having an additional mortgage on your record is a good thing. In addition, Fair Issac (according to their website) gives you points for opening new accounts.

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