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Paying off tuition bill


dixiebell
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I posted a while ago about tuition bill I had with a private college 7+ years ago. LINK. It dissappeared from my credit report but still within SOL. Anyway, I want to pay it off out of fear of being sued and so that I can get my official transcript. The amount I owe is about $3,000. Please note that this is not a student loan of any kind. I owe the school directly.

I hope you guys can help me out with some questions ;

1. When I contact the school about this, what's the best way to approach?

2. LynnInMN stated in my first thread that people from the 60's and 70's came back to her school and paid for their debt to get the transcript. Do the school usually add interest or fees?

3. Can it reappear on my credit report if I pay?

4. I believe the old CAs returned the account back to the school since I haven't heard from them for many years. If that's the case, do the school has to notify the old CAs if I pay?

5. Can the old CAs come after me for interest even if they no longer hold the account?

Sorry I have too many questions. My credit is all good now and I intend to keep it that way. Thanks you in advance for your help.

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1. If you plan to pay off in full just ask them how to go about it. They'll have to give you the lender info so you can contact them.

2. Student loans do compile interest. So expect it to be higher than the principal you last were aware of.

3. Not if you pay it off in full. If you enter into a workout agreement, it can reappear as a re-aged account.

4. Not likely. Student loans are one of those debts that never die. If it is still with the government, they can even grab your tax return monies if they want to. CA probably sold it to another CA. Schools don't do the financing themselves, it's almost always through lender that got a federal guarantee.

5. If the CA returned or resold the account (as the case may be) they are done with it. But I can pretty much guarantee someone does have it and they are entitled to the whole kit-and-caboodle. Federally backed student loans are something you just don't mess with.

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Thank you for your reply.

Actually this is not a student loan or a loan of any kind. I paid the school directly every semester. The amount I owe is for the last semester before graduated. The college I went to is a private school. Someone posted school don't charge off as they have transcript as collateral.

Anyone?

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So, I called the school and learned that the account is with a CA called ATG and I should deal with them. Pretty sure that ATG might add interest. What are the chances that they would take the principal amount of $3,000 to settle since this is very old debt. And to make things more complicated, the previous CA was NCO. I understand that it should not reappear after 7 years. If I settle with ATG in full, can the new CA reappear on my credit report even after 7 years.

What should I do? I don't want to make things worse by paying but want to settle since I might need transcript in the future and I can get it off my back once and for all. Please help me.

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