How Does My Daughter Get Her Time-Barred Student Loan Debt Off Her Credit Report?

Question:

Dear Steve,

My daughter was unable to pay her private student loan and the statute of limitations will soon run out on her loan.

So after the statute of limitations runs out can she get the debt wiped off her credit rating and how does she go about doing that?

Eloise

Answer:

Dear Eloise,

She doesn’t. When a debt is outside of the Statute of Limitations it means it can be raised as a defense if she is sued over the debt.

Debts can be listed on credit reports for up to 7 years and 180 days from the time it last went delinquent. So if your state’s Statute of Limitations is shorter than seven years it will remain on the credit report.

Also keep in mind, just because a debt is past the Statute of Limitations end date it does mean she can’t be sued or have a collector attempt to get money on the debt.

Sincerly,


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

Steve Rhode
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