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If your student loan is a federally subsidized loan, there is no statute of limitations. But, if it is a private student loan (no federal money), then the state of limitations is set by state statute. If this was a Sallie Mae loan, it is likely that you're dealing with a federally subsidized loan.....so waiting it out wouldn't be an option. But, you may want to check and see if that's the case.
As for the account history, you can demand an accounting from the lender. An accounting will show the beginning balance, all payments and all interest applied to the debt from the beginning of the loan to date.
If there is a statute of limitations that applies, they'll ramp up collection efforts before the time expires.....and they'll likely sue IF you don't work a deal out before the limitations period is up.
The charge off date is largely irrelevant....that doesn't represent the last payments to the account; instead, it just establishes the day that the original creditor stopped collection attempts.
But, you are entitled to an accounting that outlines when your last payment was so you can accurately determine the statute of limitations.
That said, it would be highly unlikely for the creditor to let the statute of limitations expire. So, you may want to endeavor to try and settle as the creditor will likely be less cooperative when/if it hires a lawyer to handle the case.
You're probably better off to start negotiations on your own...and if you're not getting anywhere, then consult a lawyer to assist with trying to resolve this debt.
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