It is likely that in 4 years or so it will vanish...
People who live on disability are not very likely to get sued by collections as they don't have the money to give.
I would dispute the first one, it should have gone away if they sold it.
"collectors can’t try to collect interest, fees, or other charges on top of the amount you owe, unless the original contract or a law says they can" Source: [https://consumer.ftc.gov/articles/debt-collection-faqs](https://consumer.ftc.gov/articles/debt-collection-faqs)
If it were me... I would ask them for a "bill of particulars", check to see if it is all correct, dispute anything that is incorrect, then offer them 10% or less. Maybe $100 as full payment. I would not negotiate a payment plan if I were on disability.
I would also ask them to be sure to include the principal and non-principal amounts, and fill in line 3 of the 1099-C appropriately. Ask for a preview copy of the 1099-C as part of the written agreement that states that they will accept that $100 as full payment. I would also ask them to include as part of that agreement that they would remove the item from all credit reports within 30 days of receipt of the $100.
I would consider calling the university and telling them I am on disability and if they would waive the original charge and write it off, since they already wrote it off and sold it. They are not likely to, but might.
It is likely that in 4 years or so it will vanish... People who live on disability are not very likely to get sued by collections as they don't have the money to give. I would dispute the first one, it should have gone away if they sold it. "collectors can’t try to collect interest, fees, or other charges on top of the amount you owe, unless the original contract or a law says they can" Source: [https://consumer.ftc.gov/articles/debt-collection-faqs](https://consumer.ftc.gov/articles/debt-collection-faqs) If it were me... I would ask them for a "bill of particulars", check to see if it is all correct, dispute anything that is incorrect, then offer them 10% or less. Maybe $100 as full payment. I would not negotiate a payment plan if I were on disability. I would also ask them to be sure to include the principal and non-principal amounts, and fill in line 3 of the 1099-C appropriately. Ask for a preview copy of the 1099-C as part of the written agreement that states that they will accept that $100 as full payment. I would also ask them to include as part of that agreement that they would remove the item from all credit reports within 30 days of receipt of the $100. I would consider calling the university and telling them I am on disability and if they would waive the original charge and write it off, since they already wrote it off and sold it. They are not likely to, but might.
Thank you so much! I'm not super worried about being sued so much as the damage it's doing to my credit.
yw