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Private student loan defaulted in 2009, how to correct, if possible?
I defaulted on a Citibank private student loan in early 2009 after I was stretched thin starting a new business. Account is scheduled to be removed from my credit report in 2016, based on most recent credit reports.

Account has been sold to various collection agencies over last few years, I haven't negotiated with or contacted any of them. I am sure Citibank has already written off the loan. Most recent collector offered to settle for half the original sum. I know paying the collection will not affect the 7 years on the credit report and paying the loan is not high on my list of family financial priorities right now.

My goal is repairing my credit report, to probably buy a house early to mid 2014. (No other debt to speak of, my wife and I make enough money to afford the new house.)


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