How do I handle/settle paying a collection from Altran Higher-Education?
I attended a 4 year uni, but I flunked my way out because I wasn t prepared at all. I was left with $3.8k in tuition debt owed, but I didn t have a job at the time. Eventually, the school sent my debt to a collection agency called Altran Education. The owed amount to the school was the principle amount $3.88k, but since the transfer to a collection agency I now owe $4.88k. I now this because I got a letter from my school through the mail stating this account transfer. The letter arrived on Dec. 18 2018. I recently called them on the 8th of July 2019 (blindly) and I was told to either pay the full amount or pay $1000 with a monthly payment plan of $120. I gave him my checking account information (Routing num/ Account num) to make the payments.
I know I made a big mistake calling them without any knowledge about how these collection agencies operate and worst of all giving them my bank information. Given my situation, and I know it s not enough info for the people of Yahoo Answers to work with, what can I do to handle this situation. Should I pay the $1k and go through with it or should I stop everything and close my bank account or [Your opinion goes here]. What should I do now?
- StephenWeinsteinLv 710 months ago
Pay the full amount and be done with it.
- MaxiLv 710 months ago
You know you owe the debt so leaving it and doing nothing means the debt has risen and will continue to rise until you pay it off.......... so work out what you can afford to pay and pay that amount each and every month, they will accept less but they need to see you are starting to pay it off....... and if you can afford more one month, then pay it as you are reducing the principle amount which is gaining interest each month...and as they have sent it to collections they add their collecting charges as well