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I have a couple baddies on my report still and it looks like the majority is from student loans. I defaulted for 11 months starting April 2012 until March 2013.
My question is my 7 years will be up in a few months for the first default. Will all the negatives be removed at once or will just april? Then the next month one more so on and so forth for the full 11 months?
I had a mortgage default that was recently removed from one of my reports and it removed everything from the first date of default.
Thanks in advance.
For monthly delinquencies, the CRAs consider the date of your initial default as being the date that controls the exclusion of monthly delinquencies that were reported in the same chain of delinquencies, so all the monthly delinqencies in a common chain should normally become excluded when 7 years has passed since the date of initial delinquency.
However, if it is a federal student loan that remains unpaid, it may be exempted from the normal exclusion provisions under the FCRA, and thus none will be excluded.
Is it a federal student loan, and if so, has it been paid?
Yes everything has been paid. I think the loan got sold to a different company about a year ish later which shows good payment history until then plus the new loan company shows fully paid now as well with no deliquencies.
Thanks.