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What does this mean on my Credit Report?!

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felicia_dee View Drop Down

Joined: 10/June/2019
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote felicia_dee Quote  Post ReplyReply Direct Link To This Post Topic: What does this mean on my Credit Report?!
    Posted: 10/June/2019 at 10:26pm
I had a SL started in 2008 and was terrible about making payments. We moved around a bunch and they lost track of me and I was okay with that since I couldn't really afford to pay it - with any kind of consistency anyway. Eventually I stopped getting letters, then stopped getting calls, then stopped getting emails. That was almost 5 years ago now.

Fast forward to today I'm trying to get my crap together and in reading my credit report, there is a line that I have no idea what it means... 

CDA Student Loans PR
status: paid as agreed and up to date
comments: transferred or sold, account paid
balance: 0
past due: 0

Obviously this is in regards to the loan I had in 2008. The last activity on it was in 2015. What does it mean that it was transferred/paid and all the balances are 0? I know I didn't pay it off. I have not had any contact from a collection agency, nor is it showing on my report that this loan has been transferred to one and they are trying to reach me. Has it been forgiven? Is it in limbo waiting for me to file taxes and the government will just garnish that? 

I'm really confused here but don't necessarily want to reach out to them and mess with it if it is forgiven and will just disappear off my report in the next two years - but if that's not the case then I would want to get this rehabilitated and work towards paying it off sooner than later...
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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
Location: Canada
Points: 5983
Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 17/June/2019 at 1:27pm
That report simply means the loan became due and payable and was transferred out. It is a federal student loan and it was transferred to the recovery unit, that being Canada Revenue Agency's non-tax collection center. 

You wont ever hear from a private collection agency on this. The federal government stopped using them in 2009.

If you need help with a strategy and approach that will benefit you, let me know. It's what we do. 
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.
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