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Posted in Student Loans
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cutiemills

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What does in mean by having a "charge off" on student loans?
Do i still have to pay back this debt if it says charge off and bad debt? What happens if i'm not able to pay back my student loans and can't pay it back?

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Charge off= creditor gives up on getting paid from you

Charge off does not mean that you do not have to pay the debt

The Statute Of Limitations to be sued for debt in your state will dictate how long you are legally on the hook for the debt. If the debt is a federal loan, you will always be on the hook for the debt, there is no time expiration to collect federal loan debt.

I suggest that you do some thorough research on your situation, there is a wealth of information across the internet on credit topics. For any more detailed questions, please feel free to ask and I will try to help you.

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