REPOST- Tuition debt – I received a letter from university’s attorney?
I’ve been unable to resolve outstanding tuition debt with my university in NY.
I and my family are struggling to afford decent living, and we simply don’t have extra money to pay off the debt. Believe me, I want to pay off the debt more than the school wants me to pay. I have not finished my college education, and I want to be able to go back someday.
I had been receiving letters and phone calls from collections agency. I once talked with the agency and tried to set up a payment plan. But the agency wanted an initial payment of several thousand dollers, which I didn’t and still don’t have. I also asked if I could work out direcly with my school, which the agency denied.
I just received a letter from the school’s attorney! What happens next? Please Help!
Favorite Answer
I suggest you call a credit union or a bank and ask if they can give you either a student loan or a personal loan. Since I assume you have left school you may not qualify for a student loan but ask them any way.
Don’t bother trying to work out anything with the collection agency—-they are scum. Get a loan to pay them off ASAP because they are charging you huge interest on your debt!
If you can’t get a loan to pay off the collection agency then call your local consumer protection agency or the district attorney’s office to find out what your rights are regarding repayment of this debt. If there is no consumer protection or D.A. to help you, call a bankruptcy lawyer to ask if he can negotiate a deal for you but DON’T let him talk you into filing for bankruptcy unless you explore all your options! If you do a bankruptcy it will ruin your credit for a long time.
Also, there are many good books out there that can help you figure out how to handle a credit and debt crisis like this. Go to the library and look for books under credit, debt collectors, and bankruptcy.
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