What does NELNET LOAN SERVICES mean on my credit report?
Learn about NELNET LOAN SERVICES, an provider offering loans for financial assistance. Check the impact to your credit report and financial status.
What is NELNET LOAN SERVICES?
NELNET LOAN SERVICES is shorthand for Nelnet, with the company name being Nelnet Inc
NELNET LOAN SERVICES is a Loan Provider. They could be on your report for a number of reasons, for example:
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⚫ You missed a repayment.
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⚫ You opened an account with Nelnet.
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⚫ You opened a credit card / loan / mortgage with this company.
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⚫ Someone fraudulently opened a credit line under your name.
About the account
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⚫ The average account balance is $1100.
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⚫ The average high credit balance is $3600.
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⚫ The average monthly repayment is $100.
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.
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.
What is a Loan Provider?
A loan provider is a bank or financial organization that can provide loans. In order to apply for a loan they will run a hard inquiry on your credit account which will negatively impact your credit report. They may make mistakes in their reporting, so if it says that you have missed a payment and you haven’t then if you take the correct action you will be able to remove the late repayment from your credit profile.
How do I remove NELNET LOAN SERVICES 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.