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What is the best way to reach a settlement on a 15k 3 year old debt that is in collections?
I surrendered a travel trailer to the bank in May of 2010. They auctioned it for pennies and I attempted to negotiate a settlement on the balance but they wouldn't budge and I never heard from them again or anyone for that matter. Now I am trying to get approved for a VA Home Loan and this debt is preventing it. The account status is Charged Off with a debt of $15,470. I can not afford to pay that much, couldn't then and can't now. What is the best way to reach a low settlement with the collection agency so that I can get this removed or cleared? Also, this all happened in 2010 but it shows as a recent debt on the reports, as recent as June 2013, why is that?

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