Can student loans still be reported if originated more than seven (7) years ago?
This comes directly from the Dept. of Education:
Q:My credit record is tarnished because of my defaulted student loan. Is there anything that I can do to improve my credit record?"
A: "Failure to repay your defaulted student loan can be damaging to your credit record. In fact, consumer reporting agencies may continue to report an account for 7 years from the opening date..."
source http://www.ed.gov/offices/OSFAP/DCS/repaying.html
so? does this mean if original date or opening date is more than 7 years old they cant report??? or does Dept Ed. have it wrong?
thjatty