Hi everyone, Iâ??m still working on my student loan troubles. Just for some background, I was an idiot and paid my student loan without even checking my credit report. Then I found out that they had already charged my loan off and now they had my money, so I screwed myself. Anyway, I asked for validation, and they sent the validation. Then I found out the real reason for the default/charge off. It was not for non payment, but for not turning in an ICR form. Can they actually do that? Charge you off as a bad debt for not sending in a stupid form. Seems a bit unfair, the payments were current. I think they made a mistake and are now trying to come up with a valid reason to cover their butts. I tried working with the Ombudsmen but, that wasnâ??t much of a success. Sheâ??s was on their side. She did get me my original promissory note marked paid that I should of gotten 7 years ago though. Iâ??ve paid this loan of almost 7 years ago and it still shows as charge off. I would like it to go away. I thought charge-offs involved not paying your debts, not turning in a form. Does anyone know if it is legal to charge-off a student loan for not turning in a form even if the account is current?
It can report 7 years from the paid off date, not the initial default like other accounts. How long ago did you pay this account off? I am not sure about the form not being sent in, sounds harsh but they may be in their rights, all in the fine print. You can try to dispute, but student loans are hard to remove, since they use your social security number as the account number.
The loan was paid off 8/02. Default 2/02 and charged off 3/02. At the time of default, payments were current so what's being reported is incorrect. I though charge-offs were monetary related. Right? This situation clearly was not due to late payments but a form not being turned in. Ive tried disputeing this buy, they only verify it as correct.
That is strange, I would think they would have 180 days to charge off. Good news is that this item should expire off of the credit report next year. If you can't get it removed, you might consider adding a consumer statement, try to explain your side in the matter. Just remember to write in and take statement off when the tradeline expires.
