Re: Collection Agencies
 

I got taken to a collection agency by my college. Long story short, I owed 14000. They sent a letter, I called them and worked out payments. They won't take any legal action as long as you work something out and make your payments on time.

Re: Collection Agencies
 

If YOU call THEM, you can usually work something out. It's when they call you that nothing gets done because you're put on the defensive.

What I did was I called the company and asked how much I owed exactly. I had the money at the time to pay, but I told them I couldn't pay the whole $800 and would they take $500 to clear the whole deal from both of our lives? They took the deal and ran. Another option is to work out a 3-or-4 part payment plan. Getting a loan to pay the CC off is also a great idea, but with this blemish on your credit I'm not sure your interest rate on the loan will be much better.

Good luck. If you're still not sure, go to your bank. Ask to speak with the financial officer who handles mutual funds and such. Explain the situation and it'll take him 5 seconds to help you fix it.