Last year my return was taken to pay off my student loans. It says on my credit report that those accounts are closed now but it also says that there is a balance owed so are they going to vanish my r

Forum|Forum|6 years ago
May 1, 2020
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Best answer by Opus 17

You will have to contact the lender(s) to see if they have decided to write off the remaining amount or if they have put in for an offset until paid. You can also try calling the Bureau of Fiscal Services, which processes the offsets. https://www.irs.gov/taxtopics/tc203

Opus 17Answer

Employee

Carl11_2

Employee

While the account may be closed, that in no way means you don't still have to pay the money. The lender could have applied for repayment through the IRS offset program where they garnish your income tax refunds every year until the balance due is paid. The original lender could have also sold your debt to a collection agency who will start contacting you for payment, if they haven't started doing so already.