Defaulted Student Loan

[cjane1]

Hello,

    I was looking on credit karma and myfico and neither one is showing a student  loan that I defaulted on.. I would be really nice if it dropped off permanently  but probably wishful thinking.  I still owe about 400.00 which is  getting taken out of my payroll checks.  Should I pull my credit report and once the loan is paid off am I suppose to call them and tell them it is paid off so they don't continue to take money out I no longer owe?

[SCF]

What type of loan is this?  Federal or private?

Are you making voluntary automatic payments, or are you being garnished?  Who are you making the payments to?

[cjane1]

It is a federal loan, I assumed it is the DOE that is garnishing my wages.. Can the collection agency do the garnishing?

[SCF]

Yes, it's possible that your loan was assigned to a collection agency and they are handling your garnishment.  You can check the National Student Loan Data System to see who holds the loan.

[SCF]

Yes, it's possible that your loan was assigned to a collection agency and they are handling your garnishment.  You can check the National Student Loan Data System to see who holds the loan.

[cjane1]

Thanks for the help, I will look into it. One other question. Do I call them or do they report to my employer when the loan is paid in full?

[SCF]

They should report to your employer when it's paid in full, but it can't hurt to call and try to speed up that notification process.  Depending on how helpful/accessible your payroll folks are, they might even be willing to do some legwork in order to minimize any overpayment.