foolmoon Posted March 26, 2021 Share Posted March 26, 2021 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. Quote Link to comment Share on other sites More sharing options...
Admin MarvBear Posted March 26, 2021 Admin Share Posted March 26, 2021 Welcome to CreditBoards. Quote Link to comment Share on other sites More sharing options...
morehelp Posted March 29, 2021 Share Posted March 29, 2021 Are these private or federal student loans through Navient? Quote Link to comment Share on other sites More sharing options...
foolmoon Posted April 11, 2021 Author Share Posted April 11, 2021 I apologize for my delayed reply. They are private student loans through Navient. I really appreciate any thoughts or insight you have on this. Quote Link to comment Share on other sites More sharing options...
morehelp Posted April 12, 2021 Share Posted April 12, 2021 To be fair--your title does say Navient Private Loans ... I'm not sure why these loan weren't removed from your credit reports 7-7.6 years after DOFD and never brought current. Also, it's my understanding that the same SOL applies to these loans as any other installment loan. You mention that the law firm refused to take two of the loans as they are past SOL and then the other loan was pulled back to Navient. It doesn't sound like they are actually collectible nor should they be on your credit reports....unless your communication and payment arrangement (on one loan) reset the clock. Quote Link to comment Share on other sites More sharing options...
dredee0 Posted March 26, 2022 Share Posted March 26, 2022 Did you dispute them as too old? MarvBear 1 Quote Link to comment Share on other sites More sharing options...
hdporter Posted March 28, 2022 Share Posted March 28, 2022 On 3/26/2022 at 10:09 AM, dredee0 said: Did you dispute them as too old? @dredee0, I'm kinda curious about this as well. But in responding to an old post, it's helpful to check their profile to see when they last poked they're nose in. @foolmoon's last login was 11 months ago. It's a safe bet he/she isn't going to reply anytime soon. (Not trying to muzzle you; just passing along some advice.) dredee0 1 Quote Link to comment Share on other sites More sharing options...
miloh17 Posted April 2, 2022 Share Posted April 2, 2022 the accounts are very old, and them being passed the SOL is a good thing for you. Id dispute them... Quote Link to comment Share on other sites More sharing options...
dredee0 Posted April 25, 2022 Share Posted April 25, 2022 On 3/28/2022 at 3:52 AM, hdporter said: @dredee0, I'm kinda curious about this as well. But in responding to an old post, it's helpful to check their profile to see when they last poked they're nose in. @foolmoon's last login was 11 months ago. It's a safe bet he/she isn't going to reply anytime soon. (Not trying to muzzle you; just passing along some advice.) Thanks. I figured someone else might think the same. The down side of these forums. People come and go so quickly. Quote Link to comment Share on other sites More sharing options...
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