One of my best friends from high school had two student loans from Wells Fargo...totaling about $1500... go 120 past due and then given to a collection agency. Those loans are long paid now and the 120 past dues are 7 years old in November.
My question is do they hurt her FICO at all this long after? I say no....or minimally at worst. Am I correct?
You are correct. The lates are having a pretty minimal impact as long as there is other history on his credit report.
Were these federal student loans tha were rehabed so the collection status could be removed? Or were they just paid in collection and when was the payment made?