Legal Question in Education Law in Pennsylvania

In PA, what is the length of time that a Private Student loan stays on your credit report?

My private student loan defaulted and than there was a court judgement. Now it appears as "Closed" on my credit report. What is the legal length of time it can remain on my credit report?

-Thank You

Asked on 10/16/13, 11:27 am

1 Answer from Attorneys

Credit reports have nothing to do with validity of judgments. Negative information, like a judgment, can stay on your credit file for 7 years from the date of entry of the judgment.

However, that does not mean that the judgment cannot be enforced or that its invalid or that you do not owe the money. Judgments can be enforced against personal property for 20 years and against real property for 5 years unless the judgment is revived.

While there is no wage garnishment for private student loan debts, there are other ways to collect any judgment, such as levying on your bank account or seizing any assets that are owned free and clear. There is no exemption for a homestead or cars in PA for state court judgments. My advice would be to look to resolving this debt at some point and not just hoping it will go away because it is no longer on your credit report.

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Answered on 10/17/13, 5:43 pm

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