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Student Load Default Garnishment

MsArnold76

By MsArnold76
in Student Loans

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MsArnold76

MsArnold76

Posted
Posted

Good evening and happy holidays to all -

 

My federal student loan went into default and I started getting garnished in Feb. 2014. The loans report as 4-6 separate line items on my credit that are bad debts.

 

Since I am essentially paying the loan monthly, shouldn't the collector (DOF sold the account) be reporting the payments to the collection agency?

 

Right now, it's still listed as simply bad debt.

 

Thanks for any help or guidance you can provide.


LynnInMN

LynnInMN

Posted
Posted

You loans ARE bad debt....until the default is resolved either by paying in full, rehabbing or consolidating, they will continue to report as bad debt. FYI....student loans are assigned to CA's, not sold.

hodap2001

hodap2001

Posted
Posted

They are being reported correctly - this would be true if you were under Rehabilitation for the next 9 months. Is there any way you can enter Rehab on your student loans to get them out of default or do you just want them paid-in-full through Garnishment?

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