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Posted in Student Loans
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Christinamg32

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19000 loan dismissed w/o predjudice, Balance on CK now 0, can I remove this?
National Collegiate Student Loan took my father (cosigner) and I to court for a 19000+ loan. The loan was taken out with an another company and had changed hands twice being bought in a loan "pool". We hired a lawyer and demanded them to prove ownership of the loan, however they could not come up with anything proving this and asked the judge to dismiss their lawsuit without prejudice, which she agreed to, mainly because we weren't there and not properly informed of the change in court date, otherwise we would have asked "with prejudice". It's been two months and I just checked my report and they have now changed my balance from 19000 to 0. Technically, since they have 3 more years before the SOL runs out, they wouldn't have had to do that. My question is, since we did ask for proof in court, none was provided and now they have removed the entire balance, would there be a good chance that I will be successful in having this removed from my report by disputing this on the grounds that they have not proved I owe the debt?

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You mentioned the SOL regarding the student loans, but student loans do not have an SOL.  They remain collectable forever unless some other procedure is followed that may get the loan cancelled.  Student loans have quite a pool of loan servicers and the loans do get transferred alot.  I know, because I had some.

The history of the loan cannot be removed but may fall off after 7 years if it, indeed, has been cancelled through the court or the loan servicer who was present.  You will just have to wait and see what happens. 

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