Funding for updating house
But long term avoidance on government backed student loans is not a good idea.
You could end up having tax refunds held back and other surprises later on.
If you would like to talk over your situation on the phone you can reach me at 800-939-8357, choose option 2, or submit my consult request form.
About Michael Bovee Michael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education.
You shared that much of the 30k in total debt outstanding is from student loans.
If you do have other credit goals, and are interested in what it would take to start to improve your credit report, and get your debt to income ratio on your credit report in line with what lenders look for, post your other debts, balances owed, and who is collecting on them, in the comment section below (this goes for anyone reading this page too). The settlement offer letter you received is not all that normal. The amounts you shared mean Northland Group is offering to settle with you for about 15% of what they say is now owed to LVNV. With someone in your situation who has many debts outstanding, and in the hands of debt collectors, settling one account may breathe new life in to the collection efforts on your other old debts.My financial troubles started in '06 at which point i could no longer pay my debts, including a personal loan and a couple cards.I won't bore you with details but I still haven't made any headway towards paying off this debt.If you’re going to potentially call attention to yourself by settling one debt, it is best to have a plan in place to resolve other debts that are not yet past the SOL to sue you.Based on the little information I have to go on, if I were in your shoes, unless I had some specific credit goals I wanted or needed to accomplish in the next 2 years, I would not take Northland Group up on the offer.
No payments have been made and no contact has been made between myself and these creditors.