I have some private student debt through Wells Fargo, which I have been paying since my forbearance period ended (September 2020). Wells Fargo has let us (debtors) know that they are exiting the student debt business and selling our loans to Firstmark, a division of Nelnet.
I have heard stories about people who make a deal with their debt collector to pay a portion of their debt and that often the collector will take the deal since they are still profiting off of that smaller amount.
I am thinking about whether I should call WF and basically pay them some part of the debt which is more than they are selling it for, which would make a profit for them and I would end up paying less and not having to deal with the transition of my student loans.
I am wondering if anyone has tried this and if anyone has any ideas on how I can make it work in my favor. Like how to talk to someone who has the power to create a contract which says I paid my debt, what to say, etc.