Hi,
My husband took a student loan in 2001 that went into default. Two more collection entries were then added to his report for the subsidized and unsubsidized portions of the loan.
Thus, now a total of 3 negative entries are on his report for this one student loan. The last payment he made on them before they went into default (after which they were paid off in full) was March 2002. We also have an account summary from the Federal Student Aid website showing this date as his last loan payment.
The other problem is that the two collection account entries seem to show that they'll fall off December 2010. The collection accounts were first reported 07/2003, but on Equifax it shows DOFD as 01/2005, so I guess that's what the 12/2012 date is being based on. But since these are just collections on the original student loan, shouldn't they fall off at the same time as the student loan?
Student loan reporting
Hi Deloris,
If the debt was paid off in 2002, then the negatives are supposed to fall off in 2009 itself. As for the collections, these are totally wrong informations as the loan was paid off in 2002. The collections are reporting much later date. You should go forward and dispute the collections on your credit report using the payment receipts as proof, and copy of account summary from Federal Student Aid website.
Thanks,
Aaron