I’ve been having a hard time finding a resource that can give me a good answer for my situation.  I came across this site and hope someone might be able to point me in the right direction or have some first-hand knowledge.

I defaulted on my private student loans in 2008.  I took a loan for each of the last three years of school for $20k each.  I misread the terms of the agreement and missed the date when I was supposed to start making payments.  We received no contact until after I had defaulted.

After contact, we made arrangements for an amount to be paid on each of the three loans monthly. I’ve continued to cut the checks every month for the past 8.5 years paying back about $45,000.  Credit reports indicate that the debt was charged off way back when and I’m curious whether I need to even continue paying this? 

I’ve continued paying Key Bank, but my credit report lists the following information:

Last Reported: May 1, 2008
Account Status: Transfer/Sold
Balance: $0
Highest Balance: $60,000
Payment Status: Current

Am I just giving Key Bank money for no reason now.