Legal Question in Credit and Debt Law in New York
Student Loan Co=Signer
A student loan that went to collection,was paid in the spring.Now I'm told that as the co-signer,I was the primary client,and although it's paid,it stays on my credit report for 10 years.Is there a way I can remove it sooner?I was told by a debt consolidation group,that I can have it removed,but they wouldn't tell me how until I used their service.Can you help me.Even the collection service said that I had an excellent debt paying record,except for this one.I wasn,t even involved in the loan except to give permission over the phone to use my name.I understand that it was my obligation,but I was told that it was being paid,and now I know it is paid.Thank you for your time ane effort.
1 Answer from Attorneys
Re: Student Loan Co=Signer
It could depend on whether the loan was repaid in full or the matter was settled by paying a lesser amount as full satisfaction, which could be noted as a charge-off on your credit report.
As a side note, be wary of any company that claims to guarantee the removal of accurate information from your credit report. Most credit "counseling" services do nothing more than send blanket form letters requesting removal of all negative items, whether legitimate or not.
If you require additional assistance, you may contact me by email.
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