VA Chapter 13 - Unclear information regarding student loans on credit reports
I have been on a payment plan for two years now on my Chapter 13 filed in VA. Student loans are part of my plan. I had two student loans one is $9,800 and the other $68K and were AES loans. I recently checked my credit report and there are a few things that are very strange. First, it looks as if they were transferred back to Sallie Mae.
The $9,800 loan shows under my credit report as Sallie Mae for all three credit agencies. The balance is $9,050 and "Debt included in or discharged through Bankruptcy Chapter 13" and "Chap. 13 wage earner plan account - paid or paying as agreed" This account I suspect I will still owe the $9K after the bankruptcy is discharged. The issue is the other account.
It shows AES with the comments of "ACCOUNT INVOLVED IN CHAPTER 13 DEBT ADJ
ACCOUNT TRANSFERRED OR SOLD"
Then under Sallie Mae it says the balance is $0, high balance of $58,372.00 (which is less the ~9K I will pay over the 5 years) and the following comments for each credit agency:
- "Claim filed with government for insured portion of balance on loan"
- "DEFAULTED LOAN - CLAIM FILED AGAINST GUARANTOR BALANCE PAID OR BEING PAID BY INSURANCE COMPANY"
- "Debt being paid through insurance"
My question is did Sallie Mae make a decision to throw my larger loan to insurance and not collect after my Chapter 13 is discharged?
The $9,800 loan shows under my credit report as Sallie Mae for all three credit agencies. The balance is $9,050 and "Debt included in or discharged through Bankruptcy Chapter 13" and "Chap. 13 wage earner plan account - paid or paying as agreed" This account I suspect I will still owe the $9K after the bankruptcy is discharged. The issue is the other account.
It shows AES with the comments of "ACCOUNT INVOLVED IN CHAPTER 13 DEBT ADJ
ACCOUNT TRANSFERRED OR SOLD"
Then under Sallie Mae it says the balance is $0, high balance of $58,372.00 (which is less the ~9K I will pay over the 5 years) and the following comments for each credit agency:
- "Claim filed with government for insured portion of balance on loan"
- "DEFAULTED LOAN - CLAIM FILED AGAINST GUARANTOR BALANCE PAID OR BEING PAID BY INSURANCE COMPANY"
- "Debt being paid through insurance"
My question is did Sallie Mae make a decision to throw my larger loan to insurance and not collect after my Chapter 13 is discharged?
Comment