I am in the process of starting to establish/rebuild credit after defaulting on my federal student loans roughly 8 years ago. I was under the impression my credit would still be very poor because of the loans, but after checking my score, I found otherwise. My scores are actually good. I dont have any active credit except for a joint account with a relative.
Im still very confused about how my scores can be high with that type of history. i was told by a few people that because it was over 7 years ago that it may have stopped affecting my credit score. It seems that my credit started to climb around the begining of last year, which would have been about 7 years.
i was under the impression that federal loans never stop affecting credit. Am I incorrect?
Does anyone have any experience with this?
