Credit Cards Center Credit cards from our partners
Reply
Frequent Contributor
Posts: 436
Registered: ‎06-15-2007
0

Student Loans Please Help

Hi guys! I have a student loan from 1994 - originally $3500.00 balance, now a $628 dollar balance showing $450.00 past due. My question is when should this fall off my credit report. It is over 13 years old already. I was thinking about disputing as too old to report or should I let sleeping dogs lie as it is only on one CRA. I will be paying this in full soon.
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Student Loans Please Help

There is no SOL on federally insured student loans. Like the Energizer bunny they keep going and going.

There is a reporting SOL for 7 years. However these loans can and are transfered from lender, to servicer, to guaranty agency, and possibly to the US Dept of Ed. Each can report for 7 years. If you still owe on the loan interest and penalties are accruing.
Valued Contributor
Posts: 2,010
Registered: ‎07-01-2007
0

Re: Student Loans Please Help

There is no SOL on Federal Student Loans.
 
Try a PFD when you are ready to pay, though it's sorta a combo with a GW letter in this instance. 
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
Valued Member
Posts: 33
Registered: ‎05-01-2007
0

Re: Student Loans Please Help

Does not seem to change even when they are paid.  Mine are 15 years old and still showing even though they were pd (after collections) years ago.  My only positive element is that without the student loans my length of history would be relatively shorter.  Good luck!
Moderator Emeritus
Posts: 16,385
Registered: ‎03-12-2007
0

Re: Student Loans Please Help



SmartCookie wrote:
There is no SOL on Federal Student Loans.
 
Try a PFD when you are ready to pay, though it's sorta a combo with a GW letter in this instance. 


In theory these are the right actions. Unfortunately, I have never heard of a GW letter working for SL lates. It stinks!Smiley Sad
Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
0

Re: Student Loans Please Help

I tell young people (tongue mostly in cheek) that it's better to borrow from the Mob than to get a student loan. At least with the Mob you know where you stand if you can't repay...
- - - -
in a credit-scoring postnuclear Stone Age...
Valued Contributor
Posts: 2,010
Registered: ‎07-01-2007
0

Re: Student Loans Please Help


fused111 wrote:


SmartCookie wrote:
There is no SOL on Federal Student Loans.
 
Try a PFD when you are ready to pay, though it's sorta a combo with a GW letter in this instance. 


In theory these are the right actions. Unfortunately, I have never heard of a GW letter working for SL lates. It stinks!Smiley Sad


Yeah  Smiley Sad   Sorta like, it can't hurt but don't expect it.  Not even sure if they are allowed to change it if accurate.   
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
New Contributor
Posts: 72
Registered: ‎06-15-2007
0

Re: Student Loans Please Help

Pay it off.  You owe it, now pay it.
Valued Contributor
Posts: 2,010
Registered: ‎07-01-2007
0

Re: Student Loans Please Help



hopeful wrote:
Pay it off.  You owe it, now pay it.


Hi, please re-read the original post.  You seemed to have missed the part where he said he was going to pay it.
EQ 787 EX 781 TU 737 11/17/07 *** I am not an attorney. If I was, I might not clip coupons. If you want legal advice, consult an attorney. If you want my personal opinion, feel free to consider my posts***
New Contributor
Posts: 72
Registered: ‎06-15-2007
0

Re: Student Loans Please Help

Yeah, he was also considering disputing it.

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.