Will defaulted student loan reappear on my credit report after it disappeared?
Posted by DeskOne3535@reddit | studentloandefaulters | View on Reddit | 10 comments
My federal student loans have been in default over 20 years. I could never afford the repayments. They were on my credit report for a few years and then disappeared. I meticulously pay all my other debts on time. I have good/excellent credit (720-785 depending on the reporting agency). With this new crackdown on federal student loans that started in early May, will my default get re-reported to the credit agencies? I'm a nervous wreck over them possibly reporting it again and having my credit score decimated.
LisaInSF@reddit
No, they can only report defaulted loans for 7 years max. This limitation is in the Fair Credit Reporting Act. New administration won’t change that rule but might pursue collection of the debt.
Bubbly-Bowl-1679@reddit
This just happened to my defaulted student loan, too. Is there a way to get it off my credit report (again)?
LisaInSF@reddit
What exactly happened to you? Federal loan or private? If private loan, who is the creditor?
Bubbly-Bowl-1679@reddit
It is a federal loan. It was off my credit report for a few years, now it’s back. The status is closed. It dropped my score almost 100pts.
LisaInSF@reddit
Have you made a payment within the last 7 years? Apply for a deferment or do anything at all w/in the last 7 years?
spacetreefrog@reddit
No op, but im in a similar situation.
Fedloan, dropped off credit report, I haven't done a payment or anything in over 7 years, recently got emailed saying "collections on your defaulted loans are resuming ", tried to log in- "NO account found".
Now im not sure if i send them my ID to try and find the account/loan, or wait for the 30-day warning before garnishment letter/wait for something more substantial. Thoughts?
atarchived@reddit
Hard to say. My partner had defaulted loans that dropped off his credit report, we were even able to buy a house and nothing came up. Last year he applied for a different loan and they reappeared, presumably from Biden’s “Fresh Start” program.
Generation__Why@reddit
That plan screwed a lot of people and no one talked about it. He should fight to have it put back in default if he never approved.
justbeaunicorn@reddit
These are feeds
jonsonmac@reddit
Since there is no statute of limitations on student loans, this is always a possibility. But since you’ve fallen through the crack all these years, hopefully that means they forgot about you.