cancel
Showing results for 
Search instead for 
Did you mean: 

nel net student loan question, need advice!

New Contributor

nel net student loan question, need advice!

So I attempted college back in 2004 and after 2 semester I quit. I had gotten 2 loans through nel net and when I stopped going to school they came out of defferment. I was young, stupid and never made a payment. How ever 4 years ago I returned to school to finish my degree. Those old loans from 2004 were added onto my current loans. When I pulled my report for the first time ever I seen these bad marks for non payment... I thought being that old that they would have fallen off but they stated it didn't get reported CA until 2008, 4 years later... does that sound right? 8 not sure if there's anything I can do but if anyone has any advice that would be great. Thank for taking the time to read this

Seedling:


Starting Score: 595
Current Score: 595
Goal Score: 650


Take the myFICO Fitness Challenge



2 REPLIES
Valued Contributor

Re: nel net student loan question, need advice!

Federal student loans can be reported indefinitely because there is no SOL on the debt.  Although the original lates/tradelines should fall off your report after 7 years, any CA that is assigned the debt can report as part of their collection efforts.

 

Do you currently see the original tradelines for the loans on your report?  What do the collection accounts show in terms of a balance and status?  When you say the old loans were added to your new ones, it makes me think you consolidated your loans to get them out of default, which would make you eligible for additional financial aid.  Are you current on the consolidation loan?

New Contributor

Re: nel net student loan question, need advice!


SCF wrote:

Federal student loans can be reported indefinitely because there is no SOL on the debt.  Although the original lates/tradelines should fall off your report after 7 years, any CA that is assigned the debt can report as part of their collection efforts.

 

Do you currently see the original tradelines for the loans on your report?  What do the collection accounts show in terms of a balance and status?  When you say the old loans were added to your new ones, it makes me think you consolidated your loans to get them out of default, which would make you eligible for additional financial aid.  Are you current on the consolidation loan?


Yes I can see the original tradeline for the loans along with the collection agency they sent them too. The collections show dates dates of delinquency, shows a 0 balance from the OC and the CA and stated as paid. In 2010 I returned to school to finish degree, yes I am in good standing with with my current loans.

Seedling:


Starting Score: 595
Current Score: 595
Goal Score: 650


Take the myFICO Fitness Challenge