Student Loan Balance Erroneously Adjusted after latest update.

Union79

There is a new Balance adjustment showing in my loan payment schedule. It claims to be the amount "as reported by the financial institution" but I do not have this account connected. Is this a bug in the latest update? I would love to reduce the balance by $34,000, but that's not happening in one day!

Quicken_Tyka

Hello @Union79

Thank you for taking the time to visit the Community to post your issue, although I apologize that you haven't received a follow-up response

As this issue occurred after installing an update,  I would start by restoring a backup from prior to the update being installed.

https://www.quicken.com/support/how-backup-or-restore-your-quicken-data

Does the loan now look correct in the backup or does the same issue occur? Please let us know the result.

Thank you,
-Quicken Tyka

Union79

I restored a backup from Feb 2 and the balance is correct. I do not want to use that version since I updated all my investment accounts yesterday before I noticed the mistake in the loan account.

mdarcy248

I am having the same problem with two different student loan service providers: Nelnet and Great Lakes. This happened after the update prior to 2/4/2021. I've tried re-adding the loan and I am able to associate the loan to an existing loan in Quicken but I get a circle with a line drawn through it next to the account name with the help text 'Quicken in unable to update your account. Click here to add your account again'. When I click it, it gives the 'connecting' status box, but no data is updated. The loan amount remains zero.

sparkerc

I am experiencing a problem after a recent update from R30.21 to R31.12. After the update after performing a one-step update, all of my outstanding loan balances are being adjusted to have a zero balance. This is across multiple financial institutions (Chase, US Bank, and Carmax) which are linked to the financial institution via Express Web Connect (which also means I am not able to get to the register directly).

I have restore a backup dated 1/28/2021 and I see the correct balances. On that last backup, I was running version R30.21. After running the one-step update, all loan balances are again adjusted to zero.

I am currently running Version R31.12 Build 27.1.31.12. (I don't know how to downgrade the Quicken version.)

Quicken_Tyka

Hello @Union79

Thank you for the response and the additional details.

If you are unable to restore a back up you may try running the validate tool and see if this repairs the issue.

This located in the File menu > File Operations > Validate & Repair option.

In the Validate File window that opens, click the top box to "validate file" and then click OK.

When the validation completes, a data log will open in Notepad, please let us know if any errors or issues are found/repaired, and when ready close and re-open Quicken.

Please let us know how it goes!

-Quicken Tyka

mdarcy248

I've ran the Validate & Repair on my file and the accounts still say zero. In looking at the logs, I also see that my Mortgage With Quicken Loans has been set to zero as well. It looks like all loans are being set to zero.

mdarcy248

I have the same thing happening to me for my mortgage and student loans. This happened the same time as stated above. I've searched this community forum and noticed a lot of other folks having the same problem.

sparkerc

Just to clarify my previous post. I was able to restore from a backup and saw the correct balances. However, after running the One Step Update on that restored file, all balances were updated to zero again.

I can recreate this very easily. Just a restore from a previous backup and then run one step update.

Union79

I ran the Validate and Repair function and that seems to have fixed the problem. Thank you!

Union79

Sorry, I spoke too fast. I was looking at the old file, before the update. I ran the Validate and Repair on the current version and it is still incorrect.

Union79

Now my mortgage balance is also wrong.

Quicken_Tyka

Hello @Union79

Thank you for taking the time to visit the Community to post your issue, although I apologize that you haven't received a response.

At this time I would recommend contacting support directly for advanced troubleshooting steps.

https://www.quicken.com/support#contact-support

Quicken Care has the tools to review and research this issue further.

Thank you,

-Quicken Tyka

MikeS 18

I was just on with tech support and we tried a number of things. But by deactivating the student loan account and then adding the account and linking it to the existing account it did indeed correct itself and now seems to be okay. Worked for me.