I took out a private student loan from sallie Mae in 2007. Repayment was started in 2010 (at some point it switched to Navient) and I couldn't afford to make the payment. I never made one payment on this loan and my Cr shows it was closed in November 2011 as a charge off. Every month they report it as a charge off and increase the balance due by around $120 dollars. I think this is poisoning my CR. The debt is so old now, in 2 years it should come off my report, it is out of the SOL in California. About 6 months ago I got a letter from a collection agency regarding this debt, I sent a letter asking them to validate it and also asking if the debt was time barred. They stopped contacting me. Today I got a letter from a different collection agency offering a settlement. I have no intention of settling. I am just hoping there is something I can do about Navient reporting this every month and increasing the balance after it was charged off. What should my next step be? I'm a novice at this but working really hard to clean up my credit and this appears to be holding my score down. Thanks.