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Transferred Accounts

Your credit report will show the details of financial accounts you currently have under your name. It will also note accounts that have been transferred. Transferred accounts do not necessarily indicate a negative mark on your credit.

What is a Neutral Transfer?

When lenders sell and transfer an up-to-date account to a new company, a transferred account notation can appear on your credit report. This is not uncommon; for example, student loans get consolidated or a mortgage loan can be sold and therefore transferred to a new lender. There is no negative impact from these types of transfers. Your score simply reflects if all payments were made as agreed to before and after the transfer.

Can Transfers Be Negative?

Accounts that are “charged off” or “written off” indicate delinquent debt and can negatively impact your credit.