Please Help

[unluckyclover]

I'm in a financial bind. I finished up school in the spring of 2008. I haven't been able to find full time work yet (which is a common problem with college grads nowadays... most of my graduating class can't get jobs). I owe an outstanding balance of 2500 to my school. It was directly to the school, not a student loan. It was sent to a collection agency, but it hasn't been reported on my credit report yet.

My husband and I are barely scraping by with our incomes. However, my husband starts a new job in two weeks. We'll be able to come up with the funds quick and easy then. I sent the collections agency a debt validation letter, and that stalled them for a little bit. But they sent me what I think is the proper validation as of yesterday. It's an invoice directly from my college of all charges, payments, etc.

I don't know what to do now. My main goal is to KEEP THIS OFF MY CREDIT REPORT. I just don't know how. Are there any other stall tactics I can use? My husband thinks I should just call the collections agency, explain to him that he will be starting a new job soon, they will be receiving payment in full at that time, as long as this is not reported on my credit report whatsoever. Basically, he thinks I should tell them that not having this on my credit report is my incentive to pay this off, and if it's already on my credit report, I will have no incentive to pay it off, and I probably won't.

I don't think that's a really good idea. I just don't have any other ideas to stall to keep this off my credit report until I have the funds to pay it. I know of a pay for delete, but it hasn't been reported yet. Maybe I should send a modified pay for delete letter? Basically ask in writing for written proof that if I pay this, it will not be reported on my credit report?

Thanks in advance for any responses. I was using another credit forum, but it was not very helpful.

[Trish]

Hi unluckyclover Welcome..

I think your husband has a good idea.... but I think yours is even better.
It sounds like the CA provided proper proof...which is rare.. If it is directly from the OC and lists the charges and comes to the amount you actually owe..... that is pretty much validating the debt.

I think the modified PFD is a better idea because it is all in writing and since it is going snail mail....it does buy a little bit of time.
There are a couple of PFD letters here in the beginner's section that can easily be modified to fit your situation.
This way they know that you are willing to make payment arrangements (starting a certain date for a certain amount) in exchange for not reporting it. Then have them sign the letter and send it back to you.. Since they haven't reported it yet, more than likely they will just be happy they are getting paid.

HTH
Good luck

p.s. If you feel like posting the letter for input/critiquing.. you can do that and maybe we can help you modify it if needed.