How Can I Stop My Private Student Lenders?
Posted June 16, 2014
WRAL Reader Question
Defaulted on a private citibank loan/discovery loan. I have already sued them for DTPA collections and now they are back to calling me for payments. I do not have the 50% they want me to fork over to settle the $7500 debt.
What can I do to get this to stop negatively effecting my credit score?
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If you are delinquent in your payments under your original contractual amount you promised to pay each month then it seems they can continue to report your negative payment history for seven years and 180 days from when you first went delinquent.
To stop them you have several options. You could discharge the debt in bankruptcy, pay the debt, settle the debt, enter into a mutually agreeable repayment plan, or have the debt forgiven through some legal action against the noteholder.
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