Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Student Loans
Profile Image

Question By
Jemz2008

0 Contributions
0 People Helped
Need help trying to purchase a home but have a closed charge off student loan from feb 2008
In 2004 my brother made me co sign his student loan I was 20 and the last payment he made was in 2008 what can I do?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1136 People Helped

Charge offs are supposed to fall off your credit reports in 7 - 7 1/2 years. If these defaults are from 2008 then this is the year they fall off. If they do not fall off when they are supposed to, pull a report from each credit bureau and then dispute the listings due to the age or in other words due to the statute of limitations. Even if they are just shy of 7 years you may be able to get them removed by "early exclusion" from one or more of the bureaus. The 7 year start date starts with the last time you made a payment, it should list on your report "date of the last payment made".

Whatever you do, do not enter into any payment arrangements with who ever is holding the debt or it may restart the clock on the statute of limitations. Maybe someone can clarify this, but I am pretty sure that could happen.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.