Question on Late Navient

[DollarB1ll]

My credit score took a massive 146pt hit  after a loan I co-signed (Navient) went 60 day late. I am so pissed that now I want to just pay off the loan and get both it and this person out of my life. Right now the loan is still showing past due.  A few questions..

1.  Will my score rebound if they get caught up on the loan and bring the loan current?

2. Any cons to me paying off the loan? Meaning should I bring it current first then pay it off or do I just go ahead and pay it. 
3. Could I possibly make the case to remove the late payments as a part of a debt settlement with Navient. 

4. Does Navient do negotiated debt settlements? 

thanks and appreciate all the help and insight 

[DollarB1ll]

My credit score took a massive 146pt hit  after a loan I co-signed (Navient) went 60 day late. I am so pissed that now I want to just pay off the loan and get both it and this person out of my life. Right now the loan is still showing past due.  A few questions..

1.  Will my score rebound if they get caught up on the loan and bring the loan current?

2. Any cons to me paying off the loan? Meaning should I bring it current first then pay it off or do I just go ahead and pay it. 
3. Could I possibly make the case to remove the late payments as a part of a debt settlement with Navient. 

4. Does Navient do negotiated debt settlements? 

thanks and appreciate all the help and insight 

[SouthJamaica]

---

@DollarB1ll wrote:

My credit score took a massive 146pt hit  after a loan I co-signed (Navient) went 60 day late. I am so pissed that now I want to just pay off the loan and get both it and this person out of my life. Right now the loan is still showing past due.  A few questions..

1.  Will my score rebound if they get caught up on the loan and bring the loan current?

2. Any cons to me paying off the loan? Meaning should I bring it current first then pay it off or do I just go ahead and pay it. 
3. Could I possibly make the case to remove the late payments as a part of a debt settlement with Navient. 

4. Does Navient do negotiated debt settlements? 

thanks and appreciate all the help and insight 

---

I think your best bet is to bring it up to current immediately, then pay it off. I don't see any other way to get the loan and the person out of your life.

Any settlement is going to show up as a long term negative, unless you can get a pay-for-delete. I have no experience with negotiating a pay-for-delete with Navient. 

[pizzadude]

Unfortunately you've learned the hard way that co-signing is risky because you're basically putting your credit profile / score in their hands.   Bad news is that the impact of the late payment won't go away when the account is paid or brought current, however over time you will regain the points back.   60 day lates are less impactful than 90, etc.. so eventually the impact will lessen. 

You can also try requesting GW from Navient if this was a one time mistake.  No idea if you'd have luck but it costs you nothing to ask them.   Is this a student loan account ?

[WildestDreams]

---

@DollarB1ll wrote:

My credit score took a massive 146pt hit  after a loan I co-signed (Navient) went 60 day late. I am so pissed that now I want to just pay off the loan and get both it and this person out of my life. Right now the loan is still showing past due.  A few questions..

1.  Will my score rebound if they get caught up on the loan and bring the loan current?

2. Any cons to me paying off the loan? Meaning should I bring it current first then pay it off or do I just go ahead and pay it. 
3. Could I possibly make the case to remove the late payments as a part of a debt settlement with Navient. 

4. Does Navient do negotiated debt settlements? 

thanks and appreciate all the help and insight 

---

did you ever get anywhere with this/Navient? I have heard they will not generally negoiate unless the loan is in default and past 180 days- as a cosigner it may be different?