Late payments from 10 years ago!!!!

[Anonymous]

Late payments from 7 to 13 years ago are effecting my credit score. How can this be? I thought 7 was the magic number. These are the only negative things on my report and I cant get above 700. How do I fix this?

Thanks for your help,

Drew

[Anonymous]

Hi sharkbite,

Can you give us a little more information on how these appear on your CR?

[Anonymous]

This was from my student loan. I only have (1) student loan, but for some reason its broken up into 13 different accounts. When I wasn't making payments, all 13 accounts registred late and deliquent. Can I get the student loan company to turn all of the reported info from 13 different accounts into (1)?

Also, my student loan seems to get sold to a new company every year or two.

Thanks for the help

Drew

[RobertEG]

Following is the footnote attached to the 7-year limitation set forth in FCRA 605(a)(5):

"The reporting periods have been lengthened for certain adverse information pertaining to U.S. Government insured or guaranteed student loans, or pertaining to national direct student loans.  See sections 430A(f) and 463(c)(3) of the Higher Educaton Act of 1965, 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3), respectively."

[Lel]

With regard to having multiple individual account reporting late payments, student loans that are disbursed at different times (for example, at the beginning of each school year or term) might be each given an individual account number.  That's the way it is for me - I had a Stafford student loan that was issued by the same CU over 4 years.  When it came time to pay, I made a single monthly payment, but in reality my payments were being applied proportionally to 4 separate accounts.