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Forum Thread

Student loan mysteriously paid off?

637 146 December 20, 2011 at 05:49 PM in Chat
I recently went on my student loan website and realized that it's mysteriously paid off on 12/8/11. I'm the only one who knows my account information and very few people even know I have student loans. I researched the web extensively on student loan forgiveness and I definitely don't fit ANY of them by any stretch of the imagination. Has anyone else experienced this? The only thing I have come across is that my FIRST student loan disbursement was on 12/7/01, so 12/8/11 marks a 10 year anniversary. The website gives absolutely no information on how it was paid off, or why. Under "payer", it says "other", nothing else. I've also examined my portfolio to make sure I didn't pay it off myself under a drunken stupor, but nope, nothing there either. Maybe this is just a Christmas present from the government?

ETA: My loan was in good standing and on automatic payment. They automatically take out of my checking account every month on the 28th. I'm anxious to see if they will this month.

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Joined Sep 2003
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Original Poster
nocheesie
12-21-2011 at 08:35 PM.
12-21-2011 at 08:35 PM.
Quote from 420 :
Your loan has been sold off. Acs recently sold off many of its loans to FedLoan Servicing [myfedloan.org] with absolutely no notice provided to the borrower. Sign up for an account there and you will see all of your loan information (unless Acs sold it off to someone else). Sorry to ruin your Xmas. Frown
Really?? Oh no! I tried to create an account there but it said my ssn and DOB didn't match to records OR i already have an account. tried to recover user name and said my info didn't match to anything on file (SSN and email). so i'm still keeping my fingers crossed, but those fingers are getting weaker. Frown
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LC2
12-21-2011 at 10:00 PM.
12-21-2011 at 10:00 PM.
Quote from AngryPirate :
Sure...just PM me your bank account info and highest balance, and if you win, I transfer the funds right after the plane gets over international waters immediately.
I understand completely. Nigeria doesn't have flights leaving every day or even every month. nod
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Joined Jan 2006
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ManUpOrShutUp
12-21-2011 at 10:51 PM.
12-21-2011 at 10:51 PM.
Quote from nocheesie :
Really?? Oh no! I tried to create an account there but it said my ssn and DOB didn't match to records OR i already have an account. tried to recover user name and said my info didn't match to anything on file (SSN and email). so i'm still keeping my fingers crossed, but those fingers are getting weaker. Frown
You can call Acs and they will tell you for certain who the loan was sold to. I was taking an educated guess that it was FedLoan, as Acs sold off a chunk of loans to them recently, including mine. I am sure that the new owner will send you a bill soon enough, but I would recommend actively pursuing the matter just in case, before you end up with a loan in default.
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Joined Sep 2006
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iflabs
12-22-2011 at 02:11 AM.
12-22-2011 at 02:11 AM.
Booh! Saw my debt drop down by $15K on my credit report. Got all excited too.

Can you wipe off a student loan short of dying?
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Last edited by iflabs December 22, 2011 at 02:13 AM.
Joined Oct 2007
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damsel.
12-22-2011 at 09:23 AM.
12-22-2011 at 09:23 AM.
Quote from iflabs :
Booh! Saw my debt drop down by $15K on my credit report. Got all excited too.

Can you wipe off a student loan short of dying?
You could discharge a student loan in bankruptcy if paying it back causes undue hardship. It's almost impossible to prove, though.

I read a case in my business law class that a homeless veteran was trying to file for bankruptcy and discharge his student loans. He had mental disorders and couldn't hold a job and ultimately ended up homeless. The bank took him to court to fight it to force him to pay it off, but the court ended up siding with him and they discharged it.

You have to be able to have a minimum standard of living, but sometimes the courts aren't very sympathetic to people.
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Joined Sep 2003
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Original Poster
nocheesie
01-01-2012 at 07:49 PM.
01-01-2012 at 07:49 PM.
Well. I got a letter in the mail after returning home from Christmas vacation (visiting family). Basically a letter explaining who my loan was sold to. They deducted from my account no problems on 12/28. I guess it's good that everything's working just like it was before... Just wish I hadn't had my hopes up. LOL.
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AggieMom
01-02-2012 at 07:24 AM.
01-02-2012 at 07:24 AM.
Weird... If only someone could have let you know that was probably what happened. laugh out loud
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Felistorm
01-04-2012 at 07:30 AM.
01-04-2012 at 07:30 AM.
I found this forum when I was searching to see if I could find anything about student loans being mysteriously paid off. Mine was too and on the same date. I went in to pay it today and I had made a payment last month on the 1st but it said it was paid off on the 8th. I am stumped. I know I didn't do it. I know that direct loans had recently been taken over but not sure if it is related to that or not. I am curious...very grateful but curious Smilie
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Felistorm
01-04-2012 at 07:35 AM.
01-04-2012 at 07:35 AM.
Quote from 420 :
Your loan has been sold off. Acs recently sold off many of its loans to FedLoan Servicing [myfedloan.org] with absolutely no notice provided to the borrower. Sign up for an account there and you will see all of your loan information (unless Acs sold it off to someone else). Sorry to ruin your Xmas. Frown
Ack! That sounds like it fits my situation. Frown I wonder how I find out who mine may have been sold to if that is the case? I went to the Fed loan site that redirected me to the ACS site (I had gotten a letter in the mail) and the ACS site said paid off.
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Get over it
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AngryPirate
01-04-2012 at 08:11 AM.
01-04-2012 at 08:11 AM.
Quote from nocheesie :
Well. I got a letter in the mail after returning home from Christmas vacation (visiting family). Basically a letter explaining who my loan was sold to. They deducted from my account no problems on 12/28. I guess it's good that everything's working just like it was before... Just wish I hadn't had my hopes up. LOL.
Should of moved (with no forwarding address).
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daniel32
01-04-2012 at 08:52 AM.
01-04-2012 at 08:52 AM.
Quote from Felistorm :
I found this forum when I was searching to see if I could find anything about student loans being mysteriously paid off. Mine was too and on the same date. I went in to pay it today and I had made a payment last month on the 1st but it said it was paid off on the 8th. I am stumped. I know I didn't do it. I know that direct loans had recently been taken over but not sure if it is related to that or not. I am curious...very grateful but curious Smilie
read this if you ever decide to come back
https://slickdeals.net/forums/showpost.php?p=46536732&postcount=96
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stomach
01-04-2012 at 09:02 AM.
01-04-2012 at 09:02 AM.
stomach doesnt understand the entire
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ManUpOrShutUp
01-04-2012 at 03:44 PM.
01-04-2012 at 03:44 PM.
Quote from Felistorm :
Ack! That sounds like it fits my situation. Frown I wonder how I find out who mine may have been sold to if that is the case? I went to the Fed loan site that redirected me to the ACS site (I had gotten a letter in the mail) and the ACS site said paid off.
Call Acs and they will be able to tell you.
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halo0
01-26-2012 at 09:24 AM.
01-26-2012 at 09:24 AM.
Quote from Neclym45 :
The exact same thing is going on with my account. I just found this by searching for "student loan mysteriously paid off". My account also has perfect payment history and it's also with myedaccount.com. I did not get any notice of any kind about a transfer etc. It shows paid off on 12/8/2011 (the amount is around 12k).
Wow, I got here with the exact same google search. Big Grin

Mine was paid off on 1/12/12 though, also with a description of "other". Another round of transfers perhaps? I have not gotten any letter yet.
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shhaggy
01-26-2012 at 01:11 PM.
01-26-2012 at 01:11 PM.
Quote from Iaaaiws :
A few months ago I paid off one of my ex-wife's student loans.
Did your ex-wife have multiple student loans or do you have multiple ex-wives?
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