Experian updating Charge Off?

[Anonymous]

I have a student loan that was charged off in March. Equifax shows it charged off and hasn't updated the payment history since then. They have updated the balance every month because it was still accruing interest. Experian on the other hand updates the payment history every month as failed to pay. Can they do this even though it's a charge off? I thought once something was charged off that if they continued to update the payment history it would push out the SOL. So until they stop doing this am I going to have 7 years from the time they stop updating the payment history??

[medicgrrl]

It's going to continue to update monthly as derogatory until you pay it off or some how bring it current. This does not affect the DOFD. But if this is a Federal loan, they won't remove it after 7 years unless it's paid. Federal student loans fall under a separate category for reporting purposes.

[Anonymous]

It's a private loan but it's with Navient. I have set up a payment plan with them but they said they won't give me the agreement in writing until I make 3 monthly payments and that they are only going to send the new balance to the credit bureaus and it will remain reporting as a charge off. But if they keep updating the payment history does that change the original DOFD?  

[medicgrrl]

It won't change the DOFD, but is there no way to rehab the loan or do something else to end the charge off status? I would go to the student loan forum and see what you can find out.