Is this a bad idea?

I owe a realty where I used to rent an apartment about $1,700. Over time, with interest, it has risen to almost $4,000. The realty has long since turned me over to an outside agency, a law office that also does collections (I guess?? Is this normal?) Anyway, they had my current address wrong, so I didn't hear from them ever until recently, when they sent me a certified letter. (SCARY). They want me to pay something like $200 a month. I'm a college student (my parents are really the ones that owe them, for not paying my room/board like they were supposed to at one point). Anyway, I'm a college student who works part-time for $8 an hour. I don't get parental support anymore, so I pay my own cable/net bill and my own rent and everything else. When I told the collections/lawyer people I could only pay like $20 a month until I complete school, they said that if I wanted that deal made, I needed to photocopy a pay stub of mine and also all my bills, so I can show the head honchos..

...that I really don't make much money, really am in school, and really do spend all my money on other bills. I need to do this, because I fear whatever the next step is (they already sent a certified letter). HOWEVER, I'm afraid somehow sending them my pay stub and my bills might be a bad move. I've heard that people's wages can be garnered, etc. What if they law office/collection people use what I send them to do something like that? I really want to make this right and start paying my balance down, but in order to pay $20 a month like I asked and be on good terms with them, they say they want a copy of my pay stub and bills. I need to know if it would be OK for me to give them that, or would that hurt me? I'm so stressed out, please help! :(

Yes, they may garnish your wages. But that is probably the worst that will happen if you send them your information. It is typical for collections agencies to request your bills and check in order to set up what they determine to be "reasonable payments." If you don't start paying them back, the amount will continue to grow exponentially and will soon be higher than your students loans. It is typical for businesses (like apartment complexes) to "sell" their debts to collections agencies, who then make their money by charging you more and more, and all they have to do is continue to call you and send letters until you pay them. There is very little you can do at this point except to set up the payment plan. Once you have paid it all back, you will want to run a credit report and be sure to get the smear taken off.

Your only other "out" would be to offer to send them post-dated checks for $20 a month until it is paid off.

Welcome to adulthood! Hang in there!

take cold water shower. don`t worry hehe its very gud idea

My x was in the same situation basically, yes i would send them a check for $20 then a day or 2 later mail them all your info. show them that you want responsiblity for your debt, be nice and curdious, that will help a lot. Im pretty sure they cant garnish your wages unless they took you to court and got a court order but as long as you keep paying your $20 a month as agreed you are not doing anything wrong. Also my cousin went through the same thing with penn state and it worked okay. hope this helps sorry if it dont. Also keep in touch with them and let them know you mailed a check today and that your gonna copy your info for them tomorrow. if you act like you are hiding that will just make them think you are running from the debt.

I think its better to give them those copies of your bills at least you give it a try.

Do you have a written budget, where every dollar you make next month is spent on paper this month?

Have you considered switching, from full-time college & part-time work, to part-time college & full-time work?

Why do you still have a cable bill, if you're broke?

Can you save money on food, like cutting back to beans & rice instead of restaurants?