chargeoff
Date: Thu, 01/01/2009 - 19:29
chargeoff
I looked on my credit report and found I had a student loan that was charged off about two years ago. When I called up the bank to ask them who they sold it to they said they still owned the bad debt. They never sold it to anyone. I have never heard of this. Why would a company write something off as bad debt and not sell it to a collection company. Does this change anything? Is the statue of limitations still work the same?
Sounds like a private student loan....they will charge the debt
Sounds like a private student loan....they will charge the debt off their books and transfer it to the collection division. Student loans are not like other debts as they are not sold to collection agencies, only placed. And private loans do regularly sue for judgement.
