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Sallie Mae first date of default 06/2006. Will it fall off?

The last post in this topic was posted 891 days ago. 

 

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A loan from SM was taken out in Sept of 05 and is listed as FDOD on my credit as June, 2006. I have no paid this and have been contacted several times by CA. Will this fall off after 7 years?

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Lynn is here sporadically now (this thread is 6 yrs old). However, it comes off your report even if it's unpaid. That does not mean they can't collect it though, and it can still interfere with your getting certain types of credit.

 

I'm not one of the resident SL experts, so I'm sure others will give more info, or correct me if I'm wrong. :)

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Typically for SL they fall off 7 years from DOFD IF they have been paid. Otherwise, it is from the date of default.

 

Keep in mind that even if they are not reporting, you will be committing fraud of you deny the debt on a credit application such as for a mortgage or auto loan for example, and potential creditors may discover this before you can get approved, especially for a mortgage.

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Keep in mind that even if they are not reporting, you will be committing fraud of you deny the debt on a credit application such as for a mortgage or auto loan for example, and potential creditors may discover this before you can get approved, especially for a mortgage.

 

To clarify: do you mean if it's not reporting within the 7 years, then it's fraud NOT to claim the debt? Or, after 7 year, it's fallen off my credit - it's still fraud for me to deny the debt?

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Keep in mind that even if they are not reporting, you will be committing fraud of you deny the debt on a credit application such as for a mortgage or auto loan for example, and potential creditors may discover this before you can get approved, especially for a mortgage.

To clarify: do you mean if it's not reporting within the 7 years, then it's fraud NOT to claim the debt? Or, after 7 year, it's fallen off my credit - it's still fraud for me to deny the debt?

Its fraud inside or outside the 7 year reporting window. Federal student loans dont go away.

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The last post in this topic was posted 891 days ago. 

 

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