What does AES/ EFR 1 mean on my credit report?
Learn about AES/ EFR 1, an student debt offering loans for financial assistance. Check the impact to your credit report and financial status.
What is AES/ EFR 1?
AES/ EFR 1 is shorthand for
American Education Services, with the company name being
American Education Services
AES/ EFR 1 is a
Student Loan Debt provider. They could be on your report for a number of reasons, for example:
- ⚫ You missed a repayment.
- ⚫ You opened an account with American Education Services.
- ⚫ American Education Services bought your debt and are now trying to collect on it.
- ⚫ You opened a credit card / loan / mortgage with this company.
- ⚫ Someone fraudulently opened a credit line under your name.
How do I contact them?
Here is the current contact details for American Education Services:
- 1200 N. 7th St., Harrisburg, PA
American Education Services (AES) provides various options for making loan payments, including online and via mobile app. There may be a fee associated with online payment. Personal information is secured. Customers can make payments using a wire transfer. AES does not offer a monthly payment plan or payment refunds. There are no penalties for late or missed payments. Prepaid debit cards cannot be used to make AES payments.
|Do they offer a monthly payment plan?||No|
|Can I make payments over the phone?||No|
|Can I make payments online?||Yes|
|Do they offer a discount for automatic payments?||No|
|Can I make a payment using a mobile app?||Yes|
|Can I make a payment using a prepaid debit card?||No|
|Can I make a payment using a wire transfer?||Yes|
Forgiveness and Cancellation
There are three primary ways to receive loan forgiveness through the Public Service Loan Forgiveness Program. You may qualify if you are employed by a government organization, a not-for-profit organization, or if you work in certain public service jobs. You must also make 120 qualifying monthly payments.
|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. In some cases, you may need a cosigner to apply for a loan.
|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 Student Loan Debt?
Student Loan Debt is taken on fund your your education, the amount taken on debt wise is usually high with long repayment times. Due to the fact that the repayment times are so long, it increases the chance of administrative errors being made: These will permanently be reflected on your credit report. If you believe that you have been affected by any administrative errors then you should take action to fix the issues.
How do I remove AES/ EFR 1 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.