Weird question...hoping someone can help me Forum

[thom111]

Apologies for not solely posting this on the financial board, but there doesn't seem to be a lot of traffic over there. Hoping someone can give some advice.

I am waiting for acceptances to schools and getting everything in order. I finished my pre-financial aid stuff today and checked my credit history. Everything is fine.

Then I remembered that a couple of years ago I was still receiving notices from a private doctor about 200 bucks or something they said I owed. It was from all the way back in 2005 and we had been going back and forth cordially that I felt the insurance owed it. I never heard anything again about it, but I have moved several times and they don't have my address. The bill is seven years old and they haven't reported it to collections because it has never showed up on my credit report. I don't even know if they think I still owe it.

So now I am a little freaked. I am afraid this will all of the sudden pop up on my credit in the next few months (even thought it hasnt ever) and I will most likely be applying for a Grad Plus loan.

The bill is in a another city and I could ask a family member to swing by and just pay it and I will send them the money, but the problem is if I pay this bill will it THEN show up on my credit report after all this time as a super late payment? I don't know what to do. I am probably just overreacting that it may magically show up on my credit right as I am about to do law school loans. If I owe it, I will definitely pay it but should I wait and see what happens and then pay it after my loans are secured or should I call them and just pay it now. If I pay it now and it dings my credit will I still be able to get the grad plus?

Thanks and sorry for the long post.

[kalvano]

Stuff goes away after 7 years anyway. I wouldn't worry about it.

[thom111]

Thanks. I thought the 7 years just applied to things dropping off of your credit report. This was never reported (doesnt show up on equifax). I didnt know if it suddenly may appear or what to do. I am probably over worrying but I don't want to run into an issue with it.

[kalvano]

Thanks. I thought the 7 years just applied to things dropping off of your credit report. This was never reported (doesnt show up on equifax). I didnt know if it suddenly may appear or what to do. I am probably over worrying but I don't want to run into an issue with it.

It does apply to things dropping off, but I also believe that they can't simply report a 7-year-old debt and have it put on. But, by this time, no good can come from reminding anyone about it.

Did you check Experian and TU? It might be on there.

[Jaeger]

Thanks. I thought the 7 years just applied to things dropping off of your credit report. This was never reported (doesnt show up on equifax). I didnt know if it suddenly may appear or what to do. I am probably over worrying but I don't want to run into an issue with it.

If it was ever on your credit report, it would fall off after seven years. That doesn't mean you don't still owe it. They can still call you and try to collect but they won't have any leverage/consequences of non-payment. But I doubt they can report it to your credit report now if they never did in the past. There is usually some form of limitation on that. Even if they did, it wouldn't stop you from getting loans. In most circumstances, the only defaulted item on a credit report that will disqualify you for Title IV is a defaulted student loan.

[thom111]

I never checked experian or TU because my FICO score is over 800, so I assumed it would not be on those. I only checked Equifax because that's what the gov uses.

If I owe it (which I don't know if I do) I will gladly pay it. I just didn't want it to show up on my credit now even if I paid it now. Both of you make sense.

I've just read horror stories about people not getting the Grad Plus because of credit issues. My credit is excellent as is.

[Jaeger]

I never checked experian or TU because my FICO score is over 800, so I assumed it would not be on those. I only checked Equifax because that's what the gov uses.

If I owe it (which I don't know if I do) I will gladly pay it. I just didn't want it to show up on my credit now even if I paid it now. Both of you make sense.

I've just read horror stories about people not getting the Grad Plus because of credit issues. My credit is excellent as is.

This is rare because for Plus loans they care about the Parent's credit moreso. Bad credit may affect your interest rate but I doubt it would stop you from getting aid in all but extreme situations.

[thom111]

I never checked experian or TU because my FICO score is over 800, so I assumed it would not be on those. I only checked Equifax because that's what the gov uses.

If I owe it (which I don't know if I do) I will gladly pay it. I just didn't want it to show up on my credit now even if I paid it now. Both of you make sense.

I've just read horror stories about people not getting the Grad Plus because of credit issues. My credit is excellent as is.

This is rare because for Plus loans they care about the Parent's credit moreso. Bad credit may affect your interest rate but I doubt it would stop you from getting aid in all but extreme situations.

Well I am past the age of having to supply my parents' info, but I see what you are saying. My situation doesn't appear extreme. right now it isn't anything.