It says my past due account(s) have been placed with their agency for collection. Of note, it says:
The law limits how long you can be sued for a debt. Because of the age of your debt, NAVIENT with not sue you for it, and NAVIENT will not report it to any credit reporting agency.
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Then the next paragraph informs me of the debt validation procedure and what info I can have validated. I think this pertains to the federal student loans I defaulted on a long time ago. They aged off my CRs years back. NAVIENT was straight up lying to me in mail they sent saying "thank you for speaking with us about ....." and all I did was log into the Dept of Ed website to look up my defaulted student loan info.
Last month I applied for a graduated consolidation loan from Great Lakes and was approved, which would have brought my defaulted federal student loans out of default. I cancelled the application because they put me on a REPAYE plan with $350 monthly payments for 3 months. I couldn't do it financially while I'm PIF all my credit cards.
The consolidation loan I walked away from totaled significantly less than I owe the Dept of Education. I have nothing against this collection agency, but I don't know what to do about this. Can I just go ahead and have Great Lakes consolidate the defaulted loans for the ACTUAL amount I owe the Dept of Education? I'd prefer to work out a payment plan with the Dept of Ed directly, but I'd prefer to let this go until the fall when I'm debt free altogether.
Where ya at, SCF? (=
Debt validation letter sent off today. Thank you for the advice.