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Frequent Contributor
Posts: 263
Registered: ‎01-27-2013

income tax offset, what happens next

I am supposed to receive my tax retun on feb 06 2013 but I have found out that my tax return will be offset for my Student Loan and I am only 6 months into my rehab payments. since my return is way more then what is left on the loan I think they will take the remainder of the SL out of my returns. The question is what happens after?. Will it affect my score or report?. Or wil everything just sit there on my CR until it expires in 7 years?. Thanks in advance for any help.

Equifax Fico 584 Transunion Fico 619 Experian Fico 575 (2/2016)
Credit: $80K Total Credit Lines (75% UTIL Smiley Sad) Gardening until 12/2017
Established Member
Posts: 113
Registered: ‎12-04-2012

Re: income tax offset, what happens next

I am not very clear on this but since you are in rehab, after you are through with 9 consecutive timely payments, your SL would be reported as current by your lender.

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