Comments on: My Student Loan Consolidation Adventure

By: Michael P. Lux, Esq.

Michael P. Lux, Esq. — Wed, 18 Oct 2023 01:12:43 +0000

In reply to Patricia. You certainly shouldn't have to make a double payment. As for the credit reporting, it should fall off quickly.

By: Patricia

Patricia — Mon, 16 Oct 2023 21:15:16 +0000

And here it is Oct 16, 2023 and it just happened to me. Hope it gets cleared up as I cannot make two payments next month!

By: Michael P. Lux, Esq.

Michael P. Lux, Esq. — Sat, 15 Jul 2023 15:37:23 +0000

In reply to Bri. That absolutely should not have happened, and it definitely can and should get corrected. How long ago did you consolidate? Have you called your servicer to discuss the issue? What did they say?

By: Bri

Bri — Sat, 15 Jul 2023 15:35:25 +0000

In reply to Marshall. It also happened to me, but it never decreased. So I am still paying both the original balance and the consolidation loan. One loan says "school unknown", the other has the university name attached to it. So glad for people who got this taken care of right away. But for those of us who didn't, with double debt that never self-corrected, the loan companies are just making extra money. I don't know what I can do about it at this point.

By: Bob Francis

Bob Francis — Fri, 23 Sep 2022 04:22:10 +0000

It just happened to me today too. I only owed around $8,600 and I log in and it says I owe $17,000+…I’m not too worried because I figure they must be in the process of transferring things still seeing it’s the first day of the consolidation. I just found this article because I was wondering if anyone else had this problem.

By: Marshall

Marshall — Mon, 05 Sep 2022 18:04:38 +0000

It happened to me as well and it’s Sept. 2022. It doubled and I was shocked especially knowing that I couldn’t reverse the consolidation. I’ll definitely be following-up this week. Your article surely brought my mind at ease, but just a little bit. Gotta wait to see the final results. Thank you Mr. Lux for sharing this info.

By: Danna

Danna — Tue, 25 Jan 2022 23:47:34 +0000

It happened to me just today! This article definitely calmed my nerves. Thanks for posting!

By: Amanda

Amanda — Sat, 20 Nov 2021 08:05:09 +0000

Thank you for the info! I just about had a coronary after checking on the next step of loan forgiveness (fingers crossed but not holding breath) only to see that the amount had doubled! I’m not sure how long it has been like this. I started the consolidation process about 3 weeks ago, but my credit score has since dropped, and I was denied a credit card when I was certain I would be approved. Now I know why.

By: Michael P. Lux, Esq.

Michael P. Lux, Esq. — Sat, 06 Nov 2021 23:52:32 +0000

In reply to Dutch Graybill. Thanks for sharing. Best of luck to you!

By: Dutch Graybill

Dutch Graybill — Sat, 06 Nov 2021 20:33:48 +0000

Thanks for writing this. I just about had a heart attack when I saw the principal balance. Hopefully I can take your advice and clear this up before payments resume.