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Help with Sallie Mae?

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rggarrison
Established Member

Help with Sallie Mae?

I'm new here and I've been trying to read as much as I can about how my student loans are affecting my credit score.

 

So much of this is confusing to me!!

 

I've seen people say that late payments will be removed in approximately seven years, but seen a lot of stuff that says the student loans can stay on your report until paid.

 

I have one 90 Day Late on my Credit Report for Sallie Mae in December 2006.  This account was closed in June 2012 and all other months show as OK. The account was opened in November 2003 but the only months that showed on the report were from June 2005 until June 2012 (I assume this is the standard seven year window).

 

So my question is, will this eventually "fall off" my credit report?

 

Or is this something that can just sit there forever?  Or is it something I can try to get removed now?

 

Sorry, but I'm a total noob here.  Any and all advice is appreciated!  

 

Thanks in advance.


Starting Score: 690
Current Score: myFICO: EX 773, EQ 773, TU 788
Goal Score: 800


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laz98
Senior Contributor

Re: Help with Sallie Mae?


@rggarrison wrote:

 

I have one 90 Day Late on my Credit Report for Sallie Mae in December 2006.  This account was closed in June 2012 and all other months show as OK. The account was opened in November 2003 but the only months that showed on the report were from June 2005 until June 2012 (I assume this is the standard seven year window).


December 2006, it should be coming off this coming December.  I would wait until January before complaining to the CRAs though; they can be slow sometimes!

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SCF
Valued Contributor

Re: Help with Sallie Mae?

Negative information on student loans follows the same rules as other negative information, it comes off in about 7 to 7.5 years.  The catch with federal student loans is that there is no statute of limitations, so the government can legally continue to pass your debt to collection agencies, who can create new tradelines on your report as they try to collect the debt.  If you defaulted, your original tradeline might have disappeared a decade ago, but a collection account might periodically reappear on your report as a new agency attempts to collect on the debt.

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