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switcheroou

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Paid collections on time every month, but still charged off as bad debt/profit and loss write-off?
I defaulted on a private student loan, and the debt went to collections in November of 2007. I've been paying them for years, and have only $2,500 remaining, but they recently charged it off as bad debt. Why would they do this?

It says right there that my last payment was May 19th, 2015.

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The original account is charged off, that is why it says it is a charge off. It is typical to have a charge off and collection for the same derogatory account. Making payments to a collection agency does not undo the negative mark on the original account.

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