Long time lurker here but I have a question that I can't find the answer too. I attended a for-profit (what a waste!) university in 1998 and my student loans didn't cover the cost of tuition (I didn't find this out until my classes were over). I never received a bill so I completely forget about it. I pull my EXP CR and the CO is on there as of 3/2003 (I check my CRs every quarter, this was the first time I've seen it). My EXP report states that the account is scheduled to continue on record until 10/2005 (7 years from date of last activity I'm assuming). Is there something out there governing the time frame that a CO can be placed on your CR? 4.5 years is a LONG time. Does that just sound completely odd or is that legal and somewhat normal? Any advice is greatly appreciated.
Not only does that sound right, but I would consider you lucky. I have a student loan that payed for my college in 1994 show up as opened in 2001. It is on my report until 2008. At least you only have 2 years to go.
Thanks for the quick responses! I do consider myself lucky as it has the correct reporting date on it. It only lowered my score about 5 points though...evidently the age of the debt helps. So with regards to the SOL I assume this would be a written contract?
Oh, It isn't a student loan. Its just 'tuition' and fees to the University. My student loans are all a-ok. You don't have to pay the tuition to the University if you fill out a financial aid application. The amount I owe them is the tuition minus the student loan.
I don't know 100% but on my privacy guard triple-bureau report it says "education loan". So my guess would be that it is a private loan from the University. I'm assuming I signed some paperwork that said I'd be responsible for any tuition amount not covered by the student loans, at least it would make sense that I did. My memory is shot.
Does that just sound completely odd or is that legal and somewhat normal? luscious1 ================= Legal Yes. Normal Yes Rite hardly The END ************************* LB 59
. I have a student loan that payed for my college in 1994 show up as opened in 2001. It is on my report until 2008. chipper ====================== This should have been off 2 years ago It's allready been reported for 9 years. Are you going to let them get by with reporting it fo 7 more when the reporting period expired 2 years ago? 16 Yrs. for a 7Yr. item- What Gives. The END ************************* LB 59
I guess I am not sure how this game is played on their end. When you take out student loans, do they become 'open' the minute the money is disbursed? If so, I am sweating the small stuff and should redirect my energies.
Slay 'em all, Slay 'em all, the long and the short and the tall! (LOL) That's an old song with the first word changed. Came from WWII. Point is that you give them all the same attention regardless. Don't make any distinctions because of their size.
