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First time poster. Looking for some advice before I make any further mistakes.
Quick summary: I was an international student in the United States and my tuition to a state college here was paid for privately in my home country. During my last semester, a change of circumstances basically left me high and dry and with a $15,000 tab for semester tuition. I had essentially no chance of paying this off, as I was not able to legally work, between visas that allowed me to work. I was able to get odd jobs here and there that were able to pay my rent, food, utilities, but it left literally nothing to pay off any of that debt.
I didn’t think I had a chance to do anything positive about it, so I just never responded to the University, and then any collection agencies. Not by mail or phone. This has been going on since 2015. I have been uncertain until 2018 that I could stay in the United States, so I also did not want to contribute any money to a debt that might be essentially irrelevant to me if I had to move back home to the other side of the world forever.
In 2018 my situation has changed, and I am now able to legally work and remain in the US. I probably will be here for the rest of my life. Right now I will make between $75-100k this year before taxes. I want to clean any debt off my record, as it has plagued my credit score (though this does not seem to have been a hindrance at all in my life), and I fear that one day I will be taken to court over it. Also I want to no longer fear unknown numbers on my phone. A peace of mind.
Recently the current company that has the debt contacted me by mail saying they have reviewed my case and are asking if I will do a payment plan of $100 a month. This sounds like a pretty good offer to me, and I would probably make substantial payments above that, and it would also stop collection activity according to the letter. Again the debt is about $15,000.
Bear in mind I have not ever had a single contact with a debt collector over this debt in the three years I have had it. I know there's like a 7 year limit or something right, but it’s an education debt from a public university so it wont go away right? Should I take the $100 per month offer? Or is there a better way? Is it realistic I could get sued for this one day? Could I negotiate terms?
I tried to keep this short and to the point so if there are more details needed please ask. I am a complete novice at this game and any help or guidance will be appreciated. I want to do the right thing, but I want to do it at least somewhat informed.
Quick summary: I was an international student in the United States and my tuition to a state college here was paid for privately in my home country. During my last semester, a change of circumstances basically left me high and dry and with a $15,000 tab for semester tuition. I had essentially no chance of paying this off, as I was not able to legally work, between visas that allowed me to work. I was able to get odd jobs here and there that were able to pay my rent, food, utilities, but it left literally nothing to pay off any of that debt.
I didn’t think I had a chance to do anything positive about it, so I just never responded to the University, and then any collection agencies. Not by mail or phone. This has been going on since 2015. I have been uncertain until 2018 that I could stay in the United States, so I also did not want to contribute any money to a debt that might be essentially irrelevant to me if I had to move back home to the other side of the world forever.
In 2018 my situation has changed, and I am now able to legally work and remain in the US. I probably will be here for the rest of my life. Right now I will make between $75-100k this year before taxes. I want to clean any debt off my record, as it has plagued my credit score (though this does not seem to have been a hindrance at all in my life), and I fear that one day I will be taken to court over it. Also I want to no longer fear unknown numbers on my phone. A peace of mind.
Recently the current company that has the debt contacted me by mail saying they have reviewed my case and are asking if I will do a payment plan of $100 a month. This sounds like a pretty good offer to me, and I would probably make substantial payments above that, and it would also stop collection activity according to the letter. Again the debt is about $15,000.
Bear in mind I have not ever had a single contact with a debt collector over this debt in the three years I have had it. I know there's like a 7 year limit or something right, but it’s an education debt from a public university so it wont go away right? Should I take the $100 per month offer? Or is there a better way? Is it realistic I could get sued for this one day? Could I negotiate terms?
I tried to keep this short and to the point so if there are more details needed please ask. I am a complete novice at this game and any help or guidance will be appreciated. I want to do the right thing, but I want to do it at least somewhat informed.
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