Re: 7-year rule

Posted by LadynRed (199.91.33.254) on November 18, 2003 at 17:52:31:

In Reply to: 7-year rule posted by SpookyPocket on November 18, 2003 at 17:16:22:

The 7 years is from the DOLA PLUS 180 days - or basically 7 years from charge-off. If the charge-off was before Dec 1997, then its 7 years from DOLA because prior to the 1996 change in the FCRA, creditors were not required to charge-off at 180 days of non or insufficient payment.

Unpaid student loans can and will haunt your reports for a lifetime if you don't do something about them. If it was a federally-backed loan, the Feds will punish you forever until you pay them.

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