Debt NOT showing on credit reports

iVillage Member
Registered: 10-10-2003
Debt NOT showing on credit reports
2
Wed, 07-13-2005 - 11:44am

Hey. I am new to this board. For years I have been struggling to pay my bills on time ect... Needless to say, I do have some credit problems, and recently have decided to look at my credit reports, get a second job, and pay off all my debt. (I want to have another child soon!). I have an idea of what I owe everyone, so I knew what to expect. A few years ago I took out a private school loan for a 2 year course in college. I owed $2000. I had stopped paying it probably almost a year and a half ago. (that's really embarrassing) but they weren't calling, and other bills needed my attention (like the ones that were threatening to sue) ANYWAY when I pulled all 3 of my reports.. that loan wasn't listed on there-- at all. I am not in any way going to ignore my debt, I want it all off my chest and paid off.. but if it's not hurting my credit, I am definately going to pay off the ones that are first.

Does anyone know or heard of Debtors NOT reporting to the credit agencies? Can anyone shed any light on this for me?

Any suggestions would be MUCH appreciated!
Thanks!!!!
Shannon

iVillage Member
Registered: 08-19-2003
Wed, 07-13-2005 - 11:49am

Hello Shannon,

I am sorry I do not have an answer for you, but did want to say Welcome to the board. I am sure someone will be along shortly that will have an answer for you.

Shannon

Shannon


Pregnancy%20ticker
iVillage Member
Registered: 02-19-2004
Wed, 07-13-2005 - 12:46pm

There is nothing that says a creditor *has* to report to the credit bureaus. Most do, but it might be companies that use credit bureaus to make lending decisions also report to them (they pay a fee to be able to pull credit reports). If the school does not look at credit reports, they might not care about signing up so they can report delinquent students.

It's fine to put them last since they aren't trying to collect and it's not on your report. It's a good idea to pay them at some point because they could decide at some point to report you (as long as it's within the time frame they are allowed to report it), and they could still seek a judgement, garnishment or lien to collect the debt (within the statute of limitations). Also, since they aren't trying really hard to collect, they might be very open to any kind of payment plan you can offer.

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