CO-signed on an apartment... now in collections
I co-signed on an apartment for a friend and now tehre is a balance due for $ 6793.32 because she ended the lease early.
The bill was sent to Associated Credit and Collection Bureau, Inc. An oral agreement was made for my friend to pay $2000 by 11/25/11 and then she would continue paying monthly until 01/2012 in exchange for this debt NOT to be reported to the credit reporting agencies.
We asked them to put this in writing. When they responded with the written agreement they had a date of 11/18 for the $2000.
She responded back to them to change the date to 11/25 they never responded back.
On 11/18 they called me asking me for the $2000 payment & i told them that the origianal agreement was supposed to start on 11/25
They were very rude, they told me "youre nothing, i dont have to speak to you" and then they said they would send it to the credit agencies if a payment wasnt made within 5 minutes.
Can they do this? Is there a time limit before they can send this to the credit agencies?
I worked really hard to obtain a 700 credit score and I cant afford to have it ruined because I helped someone out with a roof over their head.