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Can you please look at this.

Frequent Contributor

Can you please look at this.

I have a student loan that was getting garnished from my payroll but am no longer working.  Anyway, yesterday I pulled my credit report from Experian and on my student loan even though it is not paid off it is showing that it will stay on record until May 2017. So does that mean that after that date it will fall off and no longer affect my credit?

 

Account name
Account number
Recent balance
$1,322 as of 07/02/2016
Date opened
02/2004
Status
Collection account. $1,322 past due as of Jul 2016.

 

 
Type
Education
Terms
36 Months
 
On record until
May 2017
Credit limit or original amount
$2,025
High balance
$0
Monthly payment
$0
Recent payment amount
$0
Date of status
07/2012
First reported
06/2012
Responsibility
Individual
Comment
Student loan permanently assigned to government.
Message 1 of 3
2 REPLIES
Frequent Contributor

Re: Can you please look at this.

BUMP

Message 2 of 3
Highlighted
Senior Contributor

Re: Can you please look at this.

It's likely it could very well fall off in 2017 but I wouldn't be surprised if they then added a new TL with the collections acct on it . Have you thought about the Rehab program? It's really a wonderful 2nd chance to get the loan out of default and help your credit by removing all notes of default once the Rehab is complete .
Message 3 of 3