Over the last few years, I accumulated $45k in student debt via private student loans from a large national bank. My dad was a cosigner on the loan, and when he filed for chapter 13 bankruptcy the bank sold the loans to a debt collector. Is it possible for me to negotiate with them for a settlement in full where I pay less than the total amount but donâ??t get any charge-offs on my credit report? Are there any pitfalls that I need to be aware of with this approach? I can come up with some cash quickly to pay them if necessary, but I really donâ??t want any negative marks on my credit report. What is the best strategy for eliminating this debt while maintaining my good credit score/report? Thanks for any ideas!!
