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Hi ICANHASMUNY, hodap2001 and LynnInMNall, I was recommended by Student Loan board to post my thread here. I took out a student loan around $100K since 2009 from the CFI Foundation. I made monthly payment on time until November 2012, when we moved to a new address and didn't receive the bill on time. Details of the loan: Loan Name: North Carolina's EXTRA education loan OC: College Foundation Inc. (comment on my CR: Claim Filed with Government) NCSEAA purchased the loan from CFI and now assigned it to a CA. Guarantor: NCSEAA . The promissory note I signed can be found at http://cfnc.org/stat...pdf/EXTRArr.pdf Some articles online mentioned that the loan can be a private loan or state loan (similar to private?). I didn't pay much attention to the issue as I was not aware and monthly payment of $1000 was not an issue to us. Also I was busy with our new born baby, job change and relocation. Recently, we're looking at buying a house then I came to realize the student loan is in default and damaged my credit score pretty badly. Fortunately, I stumble upon this site and found a lot of valuable information. I called the original creditor CFI and NCSEAA then the CA. The CA told me that it was a state loan so it doesn't qualify a rehab or settlement. I can only set up a repayment plan or initiate a settlement on my own. If working on a repayment plan, I need to provide some personal info over phone, including SSN, Employer Name and contact info, and Monthly salary and living expense or any mortgage I'm taking, and current home address. If working on a settlement, I need to email or mail them to propose a settlement offer. My questions are as below: 1. Did I expose to the CA too much of myself? I confirmed last 4 digits of my SSN, provided a mailing address (mailbox) and acknowledged it's my loan. 2. How should I continue communicating with the CA? via email as they suggested?or phone call? or certified mail? 3. To minimize the negative impact on my credit score, should I choose to settle or work on a repayment? If not much difference, should I settle to permanently eliminate the issue. 4. If I want to settle, the CA asked me to propose a settlement plan in writing, is it OK for me to do so? If OK, do we have a template to use? My plan is to propose 40% of the total balance to settle and then they may negotiate it up to certain percentage we both can accept. The lady I talked to said it's very unlikely for the OC to accept 40% settlement but I would like to give a try. I believe the lady at CA just wants to see how much money they can get out of me now. 5. For the settlement, I'm planning to have the CA send me a settlement letter to delete the negative TL on my CR and a certified copy of your master promissory note with a paid-in-full stamp on the note with an authorized signature. Is it possible? Who should be the authorized signer on the settlement letter? Someone from OC? If they don't agree to provide any settlement letter, what should I do? 6. If working on a repayment plan, CA asked for 20% down payment. I said NO, but it seems that I don't have any leverage with them but accept whatever offer they throw on the table. Any other suggestion? Is it still possible to receive a mortgage from a bank by the end of this year 2015? My current score is 673. Thank you very much!!