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sisterrhonda

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if my student loans were charged off why is it still in collection under another name?

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Yes, you need to be careful with these because they can garnish your wages and/or tax refund.  Log on to studentloans dot gov and file an "Income Based Repayment Program" or a "Direct Consolidationon Loan Application" with them.  It may get you into a zero dollar monthly payment and will get your loans out of default.  Don't delay, it costs you nothing but time to do this.  Best of luck!

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Charged off doesn't mean the loans are erased, it just means that the previous loan servicer gave up trying to collect from you, charged them off (which means they get a "bad debt" deduction from the IRS) and sold them to another collection agency.  And federally guaranteed student loans do not go away, nor can they usually be eliminated by bankruptcty, nor do they have a statute of limitations like other financial instruments.  They remain collectable until paid. Check with your loan servicer and find out if there are any payment programs that will help you get back on track w ith these loans.

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