I have a defaulted student loan that defaulted in 2004 (date of last activity) and is in collections. I checked my credit report and it shows the loan still reporting quarterly for the past 4 years. Can they continue to report indefinitely? All my other accounts are in good standing but this one account is killing my credit score.
According to My Fico's reporting system it shows a R/F (repossession/foreclosure) in the payment status. This status shows up for every month since 2004 and if this keeps reporting indefinitely I'll NEVER have a good credit score.
P.S. My Fico summary shows that I have a recent late payment 2 months ago, based on this account. So I got killed pt wise.
Message Edited by BooBee on 02-05-2009 06:14 AM
