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@PSU, you are fortunate ACT in your region has not yet imposed their substantial power as it gets much worse if they go after you. The research says these collection contractors are more difficult to deal with than the IRS. I hope you'll take the suggestions already offered seriously. I suggest you keep a journal of calls, date, time and who you spoke to. Dog these people daily if necessary. It may be inconvenient but having them file a legal judgement against you has potential to ruin your credit for seven years! I hope you can negotiate a reduced rate on their fees and penalties and is only complete when you have it in writing. Don't pay a dime until you have a written agreement. Verbal agreements can change in a nano-second.
If you are making a one time, all in payment, I suggest sending it by bank draft - do not send it from your bank account. If you are making 3,6 or 9, payments, I suggest you open a dedicated Credit Union or Bank account at a different bank from what you use. You can transfer on-line between banks if you must and make payments from dedicated account as quickly as you can manage. Be careful, don't fall into late payment or worse yet - miss a payment. To keep track you may prefer to set up each payment two business days before due date rather than use an automatic system to avoid holiday or weekend delays.
If you are making a one time, all in payment, I suggest sending it by bank draft - do not send it from your bank account. If you are making 3,6 or 9, payments, I suggest you open a dedicated Credit Union or Bank account at a different bank from what you use. You can transfer on-line between banks if you must and make payments from dedicated account as quickly as you can manage. Be careful, don't fall into late payment or worse yet - miss a payment. To keep track you may prefer to set up each payment two business days before due date rather than use an automatic system to avoid holiday or weekend delays.
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