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Posted in Student Loans
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Bunjjii

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What does it mean when the account status says closed-transferred
My student loans account has an open date and a closed date, the status on the acct. Says closed- transferred what does that mean? It still shows on my acct. Am I needing to make any payments on this....

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Closed means that you have defaulted on the loan to the point where you will not be allowed to borrow any more money towards this account. Transfered means that someone else (another creditor, a collection agency) has purchased the rights to collect the debt from you. This is still your debt and still have to pay it back if you want your credit to look more appealing.........  Call your original creditor and see if they still have the account if you haven't already been contacted by the new collection agency by now.....

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