Is it possible for me to settle with a collection agency on a debt from a state university?

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Is it possible for me to settle with a collection agency on a debt from a state university?

I went one semester and owed around $11,000 at that time but now the collection agency is asking for $20,000 after having my account for 17 months.

Asked on January 7, 2013 under Bankruptcy Law, New Mexico

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

It is entirely possible for you to settle a debt that you may owe by way of a written agreement dated and signed by you and the debt collection company's representative. The ultimate issue is agreeing to amount and terms of repayment. I suggest that you may want to meet with a consumer law attorney to assist in the negotiation of the matter.


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