Student loans listed as charge off - Do I still owe on this?

[Chrism]

I tried to search but couldn't find an answer.

 

Looking over old credit reports and on 2 of them my student loan is listed as a chargeoff from 1995. One of them was even verified and the note said it was correct- it was charged off. I think with regular debts a charge off doesn't stop them from trying to collect. I know student loans are another ballgame, doesn't a charge off mean they got some benefit tax-wise or whatever?

 

I knew even less in 1997 and there they are noted as included in bankruptcy - I had tried to do that but was told I was 6 weeks shy of being able to have it discharged (old BK law). But if they reported the loan as included in BK on all 3 reports doesn't that mean they did consider it included?

 

It gets even more complicated but first I need to know more about the above. SL are such a different ballgame...its hard to find out what the laws are concerning them.

[lgt525]

Student loans cannot be included in bankruptcy except in rare circumstances.

 

Federally backed student loans (stafford, perkins, sls, plus, etc...) have no SOL and can be collected on forever. They may report as charge offs on your cr but they are still collectible. They just get transferred to another lender who tries to collect.

[Chrism]

Thanks for the reply, I know that that is how it works under the current BK & student loan law. Do you know where I could find out more about the 1997 law? At that time if it was within a certain timeframe, it was dischargeable. The law changed a year or so after that. I'm just wondering since it was only within a few weeks, if it did actually get discharged by the court.

[lgt525]

I don't know anything about the older law, but I do know that the dept of ed is trying to collect on older student loans. I think you would have to look at the court papers to fully determine if the loans were included.

[Chrism]

Thanks lgt,

The problem is that neither the atty or the Trustee will tell me if this debt was discharged. They were on my creditors list, didn't write or appear to object. Yet afterward SL said it was not discharged, ok that's their opinion. I want to know what the court decided. Trustee's office keeps saying to contact atty, who won't give me an answer. I'm more informed now and after reading through the fine print it looks to me like it should have been. From what I understand they should have responded before the discharge and they never even submitted proof of the debt. This was in another state and I don't know how to find out. Any suggestions?

[snowpuppy]

The law regarding bankruptcy and student loans changed on Oct 22, 1994. The law prior to this stated that you can file bankruptcy on student loans generated before this date. Student loans generated on or after the 10/22/1994 date are no longer elgible for discharge.

 

You will have to do some research as to when your loans were generated. If they were prior to the 1994 date, they were 'eligible' for discharge. That does not mean a federal judge granted you the discharge.

 

Try this website to find your student loans:

 

www.NSLDS.ed.gov

[jane]

Student loans cannot be included in bankruptcy except in rare circumstances.  

 

Federally backed student loans (stafford, perkins, sls, plus, etc...) have no SOL and can be collected on forever.  They may report as charge offs on your cr but they are still collectible.  They just get transferred to another lender who tries to collect.

 

 

Hello,

 

Since you seem knowledgeable I'll pose my question to you if that's ok? I welcome all opinions however. That being said, here's my dilemma. I have old student loans that were showing as late. I think something got crossed in the mail when I sent in my deferment, who knows? All I know is that for awhile I was "late" on pmts. This was 1997. I still have letters from Sallie Mae from 1997 saying I am late with pmt. The loans were charged off in 1998. What I want to know is can I get those lates off the report? Even if the charged off loan has another year to go before it drops off, can I get lates attached to that loan deleted if those lates are more than 7 years old?

 

Thank you,

 

Jane

 

P.S. All these student loans were consolidated into one loan and that loan is reporting me in a positive light as of 4/2004

[fla-tan]

Student loans cannot be included in bankruptcy except in rare circumstances.

 

Federally backed student loans (stafford, perkins, sls, plus, etc...) have no SOL and can be collected on forever. They may report as charge offs on your cr but they are still collectible. They just get transferred to another lender who tries to collect.

 

 

Hello,

 

Since you seem knowledgeable I'll pose my question to you if that's ok? I welcome all opinions however. That being said, here's my dilemma. I have old student loans that were showing as late. I think something got crossed in the mail when I sent in my deferment, who knows? All I know is that for awhile I was "late" on pmts. This was 1997. I still have letters from Sallie Mae from 1997 saying I am late with pmt. The loans were charged off in 1998. What I want to know is can I get those lates off the report? Even if the charged off loan has another year to go before it drops off, can I get lates attached to that loan deleted if those lates are more than 7 years old?

 

Thank you,

 

Jane

 

P.S. All these student loans were consolidated into one loan and that loan is reporting me in a positive light as of 4/2004

 

Jane

 

Student loans follow some of the same rules in credit reporting that other types of debt does. Negatives should fall off your report at their 7 yr aniversery date. If you have lates showing older than 7 yrs old, you should be able to dispute them off your reports.

 

 

fla-tan