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Lore23

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How to repay charged off private student loan- settle or pay in full?
I defaulted on two private student loans a few years ago and they've been 'charged off'. The collection company has offered to settle them for about 30% of the amount owed. I cannot pay the full amount anytime soon but I would be able to pay the settlement amount next month. I don't know how badly settling the debt would affect my credit though- is it a lot worse than paying the debt in full? I've seen different answers on this and can't decide what to do. Any advice would be appreciated:)

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I have a similar question - is there any point to paying off a private student loan (My Rich Uncle / AES), if it's already listed as charged off and in collections? I'd hate to spend a lot of money and not have that removed from my credit report. 

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