How long do unpaid student loans stay on your credit report…do they go away, like other debts do?
recently i noticed that a couple of old credit cards i had were gone from my credit report…and was told that after 7 years the companies can no longer report the debt…is it the same with student loans?
I’ve studied bankruptcy law and prepared some petitions so I have some background. Student loans almost never go away. I wish they would but the only cases of cancelling student loan debt involved people who were really distressed (read: broke AND crippled AND living in a shelter). Even if you are broke and crippled and living in a shelter, the court will probably NOT cancel the debt and will hope that you will the lottery in twenty years or your uncle will die and leave you some money.
You’re going to have to pay the student loans. You can work on a consolidation which might give you a much better interest rate. Do not ignore THIS debt. It will follow you to the grave.
