College Tuition has gone to collections ---- How should I proceed to pay it in full?

[cardboard llama]

Some of the guys in the 'credit forum' suggested I cross post here. While my tuition wasn't secured via a Student Loan, perhaps you guys can offer some advice.

 

I'll spare you guys the tales of pity and try to be breif.

 

For one reason or another I 'forgot' about paying the balance for a previous semster (long story) and now my mom apparently is recieving calls/letters from CAs. Good times.

 

I have more than enough cash to pay the amount owed in full, however I'm confused as to how to approach the situation.

 

- No collections are listed on all three of my reports pulled today on myfico.com

- No student loans were taken out

- Williams/Fudge is the name of the CA calling/writing (apparently for some time)

- I'd like to re-enroll soon, I'm scared of jeopardizing my future even more by paying to the wrong people

 

Should I just walk in and plop down a lot of cash to the Bursars office cashier? Should I bring some type of paper saying this won't go on my credit report and/or will be removed? If so what do I tell the collection agency?

 

And vice versa if I should go to the CA first?

[Cynic]

If it is not yet on your cb report, the intelligent thing to do would be pay it before it is.

 

You can wait until it is on your CB report, and then try to negociate a payoff that includes a stipulation that it will be updated to say paid in full, which may or MAY NOT be granted, or you can nip it in the bud before that's even an issue. The former would be the far more intelligent option.

Edited November 19, 2006 by Cynic