Should i pay back my loan?

[Anonymous]

hello. i have a Navient private loan that i defaulted on due to hardship back in 2008 i believe. its in the amount of $6567.00 its reporting as closed/charged off on my CR and is due to be removed from my CR in two years. but its doing damage to my score until then. what should i do? should i start paying it off or wait out the two years since the missed payments wont be removed from the report anyway. or is there another option i dont know about? thanks in advance.

[Anonymous]

Bump

[SCF]

You will need to determine if this loan is still within the statute of limitations for your state.  If it outside SOL, you have a valid defense if you are sued, and more leverage with the lender to neogotiate a lower settlement amount as a pay for delete (because they cannot use a lawsuit to compel you to pay).  Ultimately, you'll have to decide what you are able and willing to pay.