Debt Collection Policy
(Tampa, FL, USA)
I had a student loan in 2005 for 30,000. In 2006-2007, I had to leave school. When I was able to come back, the loan company stated I needed to pay about $700 right away in order to not be sent to collections. I paid that in March 2007. The next month, they said I needed to pay another $700 in order to stay out of collections. I did that. The following month, they said I needed to pay $350 in order to not be sent to collections. I paid it and was sent to collections anyways in June of 2007. Last year, my credit report stated it would be off my credit report in 7 years, which would be in 2014. I was still a student and could not afford to start paying. I was also incredibly upset that I was told I would not be sent to collections when I was anyways. I basically wasted $1700 I could have used while still in school until I could afford to pay. I recently looked on my credit report, and I saw a new date for delinquency, which is June of 2010 (Which would mean that it will be on my record until 2017 now). Can they legally do this? I though thought it would not show negatively on my record after 7 years. I have read that if I start contacting them, they will start a new date on my credit report. I am not sure where to go from here.