Reporting of student loans over Seven years old.

[Andyt293]

Okay, here is the long and short of it.

Found an inquiry on my CR from a collection agency. Called them up to inquire why. Turns out they are looking for $1800 from SL from 1988. According to their file DOLA was 1994. Woman from CA was pleasant enough, explained there is no SOL on SL's and told me that if paid the balance due in 30 days there would be no reporting on my credit reports.

I know that there is no SOL on student loans. No problem with that. I will DV and go that route. My question is this. Can the CA report this on my CR's even though its been over 10 years since DOLA?

[LynnInMN]

Yup they can do it. They can report the placement date that it was placed with them. Is your account with the Department of Ed yet?? If not, it is getting to the age where it will be subrogated and reporting will start all over again as another paid claim.

[Andyt293]

I believe the CA said they were working for the DOE. Not sure what you mean by "reporting will start all over again as a paid claim".

[LynnInMN]

I believe the CA said they were working for the DOE. Not sure what you mean by "reporting will start all over again as a paid claim".

Students who had loans under the FFELP program are guarenteed by a state agency. After a certain length of time, the DOE will subrogate the loan, effectively paying the state agency off....at a major discount of course. In this case it would result in an additional "claim paid" appearing on the CB. Since your's is being handled by a agency working for the DOE, if do credit reporting, it will appear. However several of the DOE agencies do not report. It is luck of the draw.