The investigation follows a Washington Post report in May about duplicate loan balances showing up on the credit reports of some borrowers whose loans were transferred between servicing companies. Although the Education Department confirmed the existence of 1.4 million duplicate records, it never provided a breakdown of how many people have been affected.
Borrowers are mostly unaware of the problem, even as their credit score — a critical factor in determining how much you pay for car loans and mortgages — drops. And some of those who discover the error have complained of waiting months to have it resolved…
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