Nelnet Credit Reporting Errors

Is Nelnet Reporting Inaccurate Information on Your Credit Report?

Your student loan information should accurately reflect your loan balances, payment history, and account status. When Nelnet reports incorrect information to the credit bureaus, the consequences can extend far beyond your student loans.

An inaccurate balance, a payment incorrectly marked late, or a loan reported as delinquent when it is current can damage your credit and make it harder to qualify for a mortgage, car loan, apartment, or other financing.

If Nelnet is reporting inaccurate student loan information that has caused you financial harm, you may have a case.

Francis Mailman Soumilas, P.C. represents consumers nationwide in cases involving inaccurate credit reporting and violations of the Fair Credit Reporting Act (FCRA).

Your case review is free, and if you do have a case, there is no out-of-pocket cost to you. GET A FREE CASE REVIEW

What Can Go Wrong with Nelnet Student Loan Credit Reporting?

Like other student loan servicers, Nelnet furnishes account information to credit reporting agencies such as Equifax, Experian, and TransUnion. This information should accurately reflect your loan balances, payment history, and account status.

Inaccuracies in student loan credit reporting can take several forms, including:

• Incorrect late payments: Payments reported as late even though they were made on time or were not required at the time.
• Student loans reported twice: Duplicate accounts that make it appear you owe more than you actually do.
• Incorrect loan balances: Outstanding balances that do not reflect payments, adjustments, or other account changes.
• Paid-off loans still showing balances: Loans that have been fully repaid but continue to appear as outstanding debts.
• Incorrect delinquency or default status: Accounts reported as past due or in default when that status is inaccurate.
• Loan transfer errors: Inaccurate balances, payment histories, or account statuses following a transfer between student loan servicers.
• Discharged student loans still reporting as owed: Loans discharged through bankruptcy or another qualifying program that continue to appear with an inaccurate outstanding balance.

Not every negative entry is a reporting error. However, when the information Nelnet provides is inaccurate, consumers may have grounds for legal action.

Nelnet Student Loan Errors After a Servicing Transfer

Student loan servicing transfers can create confusion, particularly when an account moves from one servicer to another.

When Nelnet begins servicing a loan or transfers servicing responsibilities elsewhere, the information reported to the credit bureaus should accurately reflect the loan’s status.

Problems may arise when:

• Both the previous and new servicer report an outstanding balance in a way that inaccurately inflates the borrower’s debt.
• Payment history is transferred incorrectly.
• A loan is reported as delinquent despite payments being made as required.
• A transferred account continues to show an inaccurate balance or status.

A loan appearing under two different servicers is not automatically an error. The issue is whether the information being reported accurately represents the borrower’s obligations.

If inaccurate reporting following a servicing transfer has affected your ability to obtain credit or financing, it may be worth having an attorney evaluate your situation.

What If Nelnet’s Credit Reporting Error Has Hurt You Financially?

Credit reporting errors can have consequences that are difficult to undo.

An inaccurate student loan delinquency or inflated balance could contribute to:

• Being denied a mortgage, auto loan, or other financing.
• Receiving a higher interest rate.
• Being denied an apartment or rental application.
• Losing access to favorable credit terms.
• Experiencing other financial losses resulting from inaccurate reporting.

If you have discovered inaccurate Nelnet reporting and experienced financial harm, our attorneys can evaluate the circumstances and determine whether legal action may be appropriate.

Francis Mailman Soumilas, P.C. Handles Student Loan Credit Reporting Cases

For decades, Francis Mailman Soumilas, P.C. has represented consumers in litigation involving inaccurate credit reports and violations of federal consumer protection laws.

We understand how student loan reporting errors can affect important financial decisions, particularly when a borrower has made payments, resolved an account, or taken steps to address an error but continues to face inaccurate reporting.

Our attorneys evaluate potential FCRA claims involving student loan servicers, credit bureaus, and other companies responsible for furnishing inaccurate information.

If Nelnet has reported incorrect information about your student loans, especially if the error has resulted in a loan denial, higher interest rate, or other financial harm, you may have a case.

Call 1-877-735-8600 or complete our Free Case Review form.