What does ACS/NELNET mean on my credit report?

Is ACS/NELNET making an impact on your credit score?

Updated January 1, 2023
Header image

What is ACS/NELNET?

ACS/NELNET is shorthand for Nelnet, with the company name being Nelnet

ACS/NELNET is a Creditor provider. They could be on your report for a number of reasons, for example:

  • ⚫ You missed a repayment.

  • ⚫ You opened an account with Nelnet.

  • ⚫ You opened a credit card / loan / mortgage with this company.

  • ⚫ Someone fraudulently opened a credit line under your name.

About the account

The account is classified under the following METRO2 categories:

  • ⚫ Education

How do I contact them?

Here is the current contact details for Nelnet:

Address:

  • P.O. Box 82561
    Lincoln, NE 68501-2561
    Fax: 877.402.5816

Website:

Email:

Phone:

Payments

To make a payment, you can do it online, through the mobile app, over the phone, or by using a prepaid debit card. You can also make payments using a check or money order. If you want to make a wire transfer, you can do so as well. If you’re late on a payment or miss one, there is a penalty fee.

Question Answer
Do they offer a monthly payment plan? Yes
Can I make payments over the phone? Yes
Can I make payments online? Yes
Do they offer a discount for automatic payments? Yes
Can I make a payment using a mobile app? Yes
Can I make a payment using a prepaid debit card? Yes
Can I make a payment using a wire transfer? Yes

Forgiveness and Cancellation

Sallie Mae offers loan forgiveness and consolidation. You may qualify for loan forgiveness if you are employed full-time by a public service organization, are a member of the military, or meet other requirements.

Question Answer
Do they offer loan forgiveness? No
Do they offer loan consolidation? No

How to Apply

You can apply for a loan online, over the phone, or in person. You may also be able to apply for a loan using a mobile app. You may be able to apply for a loan with a cosigner.

Question Answer
Can I apply for a loan online? Yes
Can I apply for a loan over a phone call? No
Can I apply for a loan in person? No
Can I apply for a loan using a mobile app? No
Can I apply for a loan with a cosigner? Yes

IdentityIQ Report Example

  • This is an example of what this creditor will look like on your IdentityIQ report.

ACS/NELNET IdentityIQ Report

Will this affect my credit score?

Whether this account affects your credit score depends on a variety of factors, such as:

  • Account Open Date: If you opened this account recently it will impact your credit, the only way to prevent this from impacting your credit score is to remove the account from your report.
  • Derogatory Markings: If this account has any derogatory markings such as: Lates, Charge Offs, Collections and others.

However, there are could be some potential positive aspects to this account which could lead to improving your credit score, such as:

  • Account Age: If your account is quite old, then the age of it will positively impact your credit score
  • Repayment History: If the account has no Late Payments, Charge off Payments, then it may reflect a positive impact onto your credit score.

Can it be removed from my credit report?

Yes, with the right strategy, you will be able to remove any account from your report. But you have to be careful to ensure that the account is negative to begin with, or it will negatively impact your credit score.

However, removing a negative account will positively impact your credit score, allowing you to open new credit lines and potentially removing bad debt.

How do I remove ACS/NELNET from my credit report?

You can send a dispute letter to the credit bureaus to remove this account from your report. You must send a dispute letter to all three credit bureaus, as they are legally required to remove the account from your report if it is found to be inaccurate. For best results you should send a dispute letter to the credit bureaus via certified mail, this will ensure that you have a legal record of the communication.