PRIVATE STUDENT LOANS IN COLLECTIONS, PAYOFF ADVICE PLEASE ;)

[Onmygo]

WE JUST CANCELLED ESCROW OVER MY PRIVATE STUDENT LOANS IN COLLECTIONS. THE BALANCE ON MY CREDIT REPORT IS 5086.00 BUT THE BALANCE WITH THE COLLECTION AGENCY IS 7123.00 BECAUSE OF INTEREST. I'M CURRENTLY MAKING DISMAL PAYMENTS OF 102.00 A MONTH, THAT WITH TAKE TOO LONG. I WOULD LIKE TO OFFER A PAYOFF AMOUNT. DOES ANYONE THINK 50% OF THE PRINCIPAL WILL BE A GOOD OFFER SINCE THATS WHAT ON MY CREDIT REPORT?

[Anonymous]

In my opinion, i would go in at $5k...they might come back at $6k...sorry this is stopping you from buying your home.

Good luck!

[Anonymous]

I thought if you had an arrangement you'd be ok to close. Can you elaborate?  Which CA?

[Anonymous]

How is this coming along? any new updates?