I have been feverishly working on repairing my husbands credit with the notion that when I am done, I will begin working on mine. Well in 2007 I was attending Capella Univ, for 1 session, needless to say the program wasnt for me. The university automatically enrolled me in the following session, but I never attended. Long story short, I ended up with a bill for Capella for $1600. Capella tried to collect the debt for awhile and then they passed to a CA some time last year I received a few letters and calls but nothing else came of it.
Today I received a phone call from a CA, a new CA regarding this debt. They stated to me that they needed to contact me before they sent my acct for "further review" on 5/17. I asked them if I could start a payment plan and they stated they needed my financial info, and my hubbys and some references to see if I would be eligible for a payment plan. I gave them this info... I KNOW .... SO STUPID!!!! but I was on the spot and under pressure. The payment plans they offered were ridiculous... I told them I would be unable to afford any of the plans they offered. The agent then stated that she had no other options, and that I should borrow money from someone and call her back before 5/17 and the acct went to "further collection efforts" I asked what they would be and she stated that she would let me know when I called her back. (she was rude)
Anyways, my question is ... what are my options? what should I do? What could further collection efforts be? If they would actually try to get a judgement I would have time to pay the debt before it was on my report.... right? Please advise!!!!!
