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TGIF13

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Unpaid Collections account was removed
I was looking to see how much I owed on a student loan from about 4 years ago. When I went to go check, it said that the collection account had been removed. I have not paid anything on this debt and owed about $1,500.00. Does this mean I do not have to pay anything and it is removed from my credit report?

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Don't get too excited yet. It may have been sold to another debt collector. But if you are lucky, maybe it is gone from your reports, that doesn't mean you are off the hook of paying it though. The "statute of limitations" determines how long it is "legally" collectable. If it was a Federal loan, you will always be on the hook "legally" for it.

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