Post Number: 1
|Posted on Thursday, March 04, 2004 - 05:02 pm: ||
I went to a university 20 years ago. At the time I rec'd a guaranteed student loan and a National direct student loan, both of which I paid and have proof of payment. My parents also borrowed a loan under their name (I did not sign for this at all) and they say they repaid, but no longer have any proof of payment. About 17 years ago I attended a different university which requested and rec'd my transcripts from the first university. Recently, I decided to go back to college again. This time when I requested my transcripts from the first university, they said there was a "hold" put on my account by a collection agency for $5000! They said the hold was placed on my account 7 years after I attended the school. I have never been billed for this nor advised by any collection agency that I owe this money. Additionally, in the last 20 years I have purchased 2 homes, applied for and received numerous credit cards, have had my credit report checked for renting purposes, etc. and I have never had any denial of credit or notification of bad credit. On the contrary, my credit rating is excellent and I always qualify for the lowest rates. When I asked the registrar what the debt was supposed to be for, she said it was so old, it was written off as a bad debt and they would have to dig up microfiche which would take at least a week. I have decided to just retake the 5 credits of classes I need instead of trying to get my transcripts but I'm in turmoil thinking that I have been the victim of identity fraud or something. Since they say the debt is so old, can this come back to haunt me (ie. should I investigate and find out what it is) or should I just leave it alone and not worry about it. Can this still be reported to a credit bureau since it is so old a debt? I really don't remember owing this money to anyone and I definitely know I've never been billed for it.