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    abenain's Avatar
    abenain Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Sep 4, 2008, 01:52 PM
    Student loan bought by collection agency
    If the student loan was bought by a collection agency are you still liable to make payments?
    Trustee's Avatar
    Trustee Posts: 2, Reputation: 1
    New Member
    		  
    #2

    Sep 5, 2008, 01:37 PM
    Yes, debts are assignable.
    slowandeasy's Avatar
    slowandeasy Posts: 353, Reputation: 14
    Full Member
    		  
    #3

    Sep 7, 2008, 03:53 PM
    Yes, why wouldn't you be? Just because a collection agency has it does not mean you are
    Free from paying it.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #4

    Sep 7, 2008, 04:01 PM
    If they will accept payments, and not merely wish to go for a garnishment or attachment. But it is best to work out a payment plan with them if they still will.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #5

    Sep 7, 2008, 04:24 PM
    Basically you are liable for paying off a debt until it is paid off. Nothing but bankruptcy or settlement can change your obligation to pay in full. Debts can be sold, transferred or assigned for collection. None of that changes your obligation. Doesn't matter the type of debt as long as the debt is valid (you agreed to pay it) then you owe it.
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