can being having my tuition payment given to a collection agency effect my credit rating?

Question

THis is specifically in toronto canada

I have not graduated but they are sending my file to a collection agency

I dropped those classes but they are still charging me like 75% of the class fees

if i have to go to court with this, will i lose the case???

ps. I WILL go to court with this. IWILL not pay this "fee" . I do not feel i owe them for courses i have NOT taken.

ps. I intend on going to court with this. I WILL NOT pay this "fee" . I do not feel i owe them for courses i have NOT taken.

Answer 1

Any time your bills are sent to a collection agency it will effect your credit rating. Even if the college did not report to the credit agencies, the collection agency will make sure the debt is put on there.

See if the school is still willing to work it out because when they sell it to the collection agency they only get pennies on the dollar. If they can get the full amount from you even in payments they might be willing to work it out. At least it would be worth inquiring about.

Answer 2

Generally whether you are in the US or Canada prior to signing up for the coursework at a school, there are some documents you sign stating what the fees you are liable for if you drop the course. These will definitely affect your credit rating and most likely the outcome looks bleak for you winning in this case. However, perhaps you can speak with the University and negotiate lower fees and get the court case dropped? Sorry you are having a bad time, and things get better for you!

Answer 3

Yes it will probably affect your credit rating -

If you signed up to take a course and did not cancel before the session started then chances are you will still have to pay the class fees. You will likely lose the case.

Best to take any documentation to an attorney and let him review it.

Answer 4

You can "feel" yourself right into a bad FICO score and a sustained period of compromised "creditworthiness".

You should've read and understood the school policy regarding TUITION on WITHDRAWN courses.

This is NOT about your flawed logic. It is about the school policy and the documents you signed when you enrolled in these courses at the beginning of the year.

Other than what you "feel", you have not mentioned any type of competent evidential matter than can be presented before a court of law to substantiate your position.

Just remember when and if lawyers get involved and you lose, which you probably will, you are going to owe even more.

You have been warned.

Answer 5

Yes, you will probably lose the case. I signed up for school 6 years ago, and did not go to school...and I still have to pay it back. Even when you drop the class after a certain point, you still have to pay it back unfortunately. Yes it will affect your credit.

Answer 6

Yes all around. Your credit will be wrecked, and you will lose the case. Take-out a student or a personal loan while you still have a decent credit rating and pay them off.

Answer 7

You will pay, you will lose. You signed a contract. You can't even file bankruptcy because those loans are excluded. The sooner you pay them and get it behind you, the better off your credit will be. Sorry.

Answer 8

read the contract you signed very carefully and the fine print for a clause that says you still have to pay for classes even if you notify them in a reasonable amount of time because if it states that when you apply for money for classes you are responsible for it you will lose in court.

Answer 9

Definitely talk to your school directly to work out a payment plan. Once it is paid, request that the school update the collection agency to remove your name.

Answer 10

Most colleges have a date by which you have to drop the courses. You agreed to it when you registered. Sorry, pay up buddy!