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Ignoring them for now if you cannot get them out of default can make sense from a pure monthly budget, and being light on cash flow perspective.But long term avoidance on government backed student loans is not a good idea.
I was wondering if it would be in my best interest to take this offer at this point?Having had windows live mail working satisfactorily for some time, I now find that I cannot open a new email or reply/forward to another.My financial troubles started in '06 at which point i could no longer pay my debts, including a personal loan and a couple cards.At this point I have over 30, 000 in debt, most of which is student loans.As i understand it, the statute of limitations on my credit cards and personal loan has come and gone, so I don't have to worry about being sued.I think much of this debt should come off my credit report in the next year or two if I just sit tight.
Please correct me if any of my assumptions are incorrect.
Citibank (and many other credit card issuers) regularly sell off debts that go unpaid more than 6 months.
Your Citibank credit card sounds like it has gone unpaid for 5 or more years.
If you do have immediate or near term future credit goals, and with as much debt you mentioned having that has not been paid for years, settling with Northland Group, even if LVNV is reporting a collection item on your credit report, will have little to no value to your credit report.
However, if you take a more broad approach to the outstanding debts, like settling other revolving consumer debts (credit cards and personal loans) with other collection agencies and debt buyers, than settling the old Citibank credit card with Northland Group would make sense.
—rande Northland Group regularly collects debt on behalf of LVNV.