I have three charged off Navient private student loans from about 2005. They were charged off in 2015, but they remain on my credit report. All of my other accounts are being paid on time. My credit score is about 700. I recently sold my house and planned to purchase land and have a new home constructed. I based all of these plans on a pre-approval with a local lender. I was placing more than 20% down payment. I moved forward and signed contracts with a builder, sellers of the land, and also a pool company. Subsequently at the underwriting point, the bank withdrew the approval based on the student loans from 2005.
At this point, I tried to contact Navient to reestablish payment plans for these loans, as my local bank was still willing to move forward what the mortgage as long as I could provide documentation reestablishing payments on the student loans. After many phone calls to Navient, I was referred to Track America, while understanding that they place the loans with a collection agency or legal firm that would negotiate with me. Initially, they placed one loan with a legal firm with which I was able to establish a payment agreement for one loan. For the remaining two loans, I made many phone calls to Track America asking them to send the remaining two loans to the same legal firm. After weeks of phone calls, this did occur. I thought everything would move forward, but shortly the legal firm said they were not interested in the two additional loans as they were past the statute of limitations in my state of residence, Pennsylvania. Shortly after that the legal firm discontinued allowing me to make payments on the remaining loan and said that Navient had pulled that loan back.
After dozens of calls to Track America, I learned they had repeatedly tried to place the loans with collection firms and attorneys, but no one wanted the loans past the statute of limitations. Eventually I was able to establish contact with the escalation department at Navient, but their policy is to place the loans via Track America before I would be able to settle for a lesser amount or reestablish a payment agreement. The total amount is about 250k. Navient would be willing to accept payment in full, but any agreement for payments or settlement for less is completely impossible. Must be done through a collection agency. I'm stuck in this loop of insanity and have no idea how to move forward. How can I reestablish payments with documentation that the bank providing my mortgage finance would accept? Otherwise how can I get these loans off my credit report? I'm willing to make monthly payments to the end of getting final approval on this mortgage. What can I do? I've been working on this for nearly 6 months.