Opting Out and Loans
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Posted by Suzanne
(63.185.112.213) on June 17, 2004 at 21:37:31:
I actually have a 2 part question: What exactly is meant by "opting out"? I've read a lot of posts that mention it, but can't quite grasp what it means. 2nd question - I've read a lot about credit card debts, but what about school loans? My roomie has something like a $10,000 school loan that shows up intermittently on her credit history. It is a Stafford Loan, so its a federal government loan, but its well past any SOL, if there are any. The loan is over 10 years old. Should she just ignore it or try and find out who now owns the account and pay it back? NONE of the CRA's list who now owns the account.
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