Old late payments on still-open account

Question

hi, i'm new here, but a longtime lurker and i finally have a question i thought i'd post about. i have a open account for a studnet loan from grad school. there was dark stretch during the great recession where i stopped making payment, because i had very little money and most of what money i had i sent home to my mom and sis who were out of work due to the economy. not sure why i didn't try to make a better arrangment than jut not paying. i guess i was really stressed and scared facing all the new realities. until that point i'd never been out in the real world, so to speak...just school. anyway, the first of those missed payments will be seven years old in july. since the account is open (and current!), i understand that they will stay on my report despite their age since it's an active account. is that right? is there anything i can try to get them removed before i finish paying off the account? the good news is that other than those payments, all of my reports are spotless. thanks in advance for the advice!

Answer 1

interesting. i called experian and the person i spoke with said that since the account is still active, the old late payments wouldn't fall after 7 years because i'm still paying off the account. i just got off the phone with a credit specialist and he said even though the account is still open, the late payments will in fact drop off once they are seven years old. i'm a little confused, bit i'm hoping the credit spec. is right!