Thanks again to everyone for all the help! It's great to know that I'm not alone. Here's an update ... Just yesterday the company settled with me on payment arrangements. We will pay them a first payment of $1500 ( which is most of what we have) and monthly payments of $150 with no further interest, late or collection charges. At least we can move forward with a plan of payment in place instead of being non-paying deadbeats. It can only go up from here! THANKS!!
I hate to admit that we (my family) were turned over to a collection agency once. We disputed the charges. We were told to write to that agency and explain- we did so and never heard from them again. Try writing to the agency, they may be more willing to help. Do you have a non-profit status?
I commend you for stepping up and taking charge. You fellow members should be proud of you also. Heres a thought- bank loan? at least you can make payments on those and maybe a home town bank would have a heart and call aany interest a donation?
Our PTO treasurer who took 16,000. We did insist on charges being brought against her and she was convicted and repaid this money. But we now have it in our by-laws that each treasurer must be bonded. The bonding cost 90.00 a years but it's the best thing we ever ever did. That way if money is taken we can get it back.
Not sure if this is even close to helping, but I just thought of Consumer Credit Counselors that help a private individual negotiate a payment plan or something of that nature with the companies that are involved. They have the knowledge and strategies that may just work in this case. If possible they could come up with a plan to pay the balance in a reasonable amount of time. It might be that your current school year would not get much funding, but the debt would eventually be paid without a bad credit history in your organizations name. I checked in our local phone book and there is a listing for "Consumer Credit Counseling of .....(your town or city)" Check it out, it may be of some help and may not involve any fee either. Good luck.
Not sure what state you are in but almost all have a Lawyer Referral Service and Legal Aid which can be found in the phone book. These are a group of honest, hard working lawyers who will take on your case for a very small or sometimes NO fee at all (in the legal field that is called Pro Bono). Please give either organization above a call and maybe they can help advise you what would be the best course of action to take. I am very sorry for the position the past presidents left you in. What a disgrace on their part. Good Luck
