what does it mean if your Canada student loans have been "transferred or sold" on your credit report? Help!
I have a credit report on hand and don’t know what some of this gibberish means, especially about the transferred or sold comments about my student loans. My loans are from 1999 and a last payment was made in 08/03. Would they have been written off?
In truth it doesn’t mean much to you, you still owe the money but now the debt may have been sold to someone else. Even written off doesn’t mean anything positive to you, as the debts would have then been sold to some third party collection company for pennies on the dollar, and they’ll continue trying to collect them.
Best to contact the original creditor directly and find out who you need to contact regarding the debt.
Good luck!
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This entry was posted on Monday, June 22nd, 2009 at 7:28 pm and is filed under canada student loans. Follow the comments through the RSS 2.0 feed. You can post a comment, or leave a trackback.
ALL loans are bought and sold all the time…….
Your lender sold your loan to another financial institution…….the last information was the last entry prior to it being sold.
References :
August 23rd, 2009 at 1:44 am
In truth it doesn’t mean much to you, you still owe the money but now the debt may have been sold to someone else. Even written off doesn’t mean anything positive to you, as the debts would have then been sold to some third party collection company for pennies on the dollar, and they’ll continue trying to collect them.
Best to contact the original creditor directly and find out who you need to contact regarding the debt.
Good luck!
References :
August 23rd, 2009 at 2:23 am