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Posted in Student Loans
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elmarino12

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what happen if i do not pay my student loan from 2007?from keybank .can i just wait take off my rc?
i have a student loan that i start paying for but i was paying to a collector that only pay the bank $200 from $1800 that i pay them so i call the bank and they tell me that they can not find my account but now 6 years later the bank send me a letter to pay them do i need to pay them or i just wait for my 7 years i open the account on 2007 ?i have the money to pay for it is $10,000 but it is work it ?after 7years in my credit report

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Student loans DO NO DROP OFF!!

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This is one of the "perks" that the student loan industry got when the bankruptcy laws were re-written several years ago, that student loans had no statute of limitations and also cannot be discharged in general bankruptcy.  They remain collectable until they are paid off, even if your Social Security has to be garnished.

So, you'd best contact the bank about making payment arrangements.

Also, you should make it a habit to check all 3 credit reports every year to make sure all information is correct.  Go to annualcreditreport.com to get them.  Do file disputes on any errors (not the things you don't like, but true errors) with the credit bureau making the report.  They then have to investigate and either verify or delete the disputed item.

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