What Happens if My Student Loan Is Charged Off? | Sapling
What Happens if My Student Loan Is Charged Off? | Sapling
Jul 25, 2011
sapling.com
Ever had a collection deleted… then it shows back up like it never left? You are not crazy. And it does not automatically mean your credit company failed you. Here is what is really happening. The account was removed, but the debt got sold. Debt buyers purchase old charged off accounts for pennies, then report the same debt again under a new company name and a new account number. So it looks like the same item came back. In reality, it is often a new furnisher. That is why we audit every 35 days
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