Hi everyone. I have just recently found this board and have gleaned so much wonderful info. Thanks. I do need some clarification though. When I went to college, I had received grants that were never paid to the school. (they kept losing the paperwork) Anyhow long story short, the tuition was never paid in full and a loan was never taken out. I received a judgement. I arranged a payment plan with the school a couple of years ago and it is near to paid off. Does that mean that it will stay on my credit 7 years from the date I pay it off? I have read many posts about this but It seems that I have found conflicting information. I am really worried that I screwed up terribly so any information you could provide would be greatly appreciated. Thanks.
RE: Clarification on restartin http://www.ftc.gov/os/statutes/fcra.htm § 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c] (2) Civil suits, civil judgments, and records of arrest that from date of entry, antedate the report by more than seven years or until the governing statute of limitations has expired, whichever is the longer period.
RE: Clarification on restartin I would think that it would depend on the laws of your state. However I was advised not to pay off a 5 year old judgement because the 7 year period it would be reported would start on the last date of activity as a PAID judgement. So in essence, it is better not to pay it period. I live In CA. I hope this info helps. Good luck!
