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Last year was a rough year. I lost my husbands income due to him leaving to another state. I now have a new job making double what I was making previously. I fell behind on my Navient private student loans to the point where they sent it to a collection agency. They have been a pain. I received a letter the other day offering a settlement offer. The totalk for three offers is around $6400. I wish I had that money because I really want to get them off my back. They want one lump sum payments. Does anyone have any ideas on possible counteroffers?
What is the payment history profile on the loans (i.e., what monthly delinquencies have been reported, by date and severity, and has the debt been charged-off)?
Does the creditor still own the loans, or did they sell them to the debt collector?
What is the current status of the statute of limitations on the delinquent loans?
Have you considered offering a payment plan as a counter-offer to their PIF request?