2007-03-17 19:25:08 · 7 answers · asked by Antwan J 1 in Education & Reference ➔ Financial Aid
Collections will attempt to retreive the debt from you if they don't they will charge it off then it will go on your credit and ruin it. When you want to make a purchase on a car or a house or even apply for credit you can't because you've shown you're an irresponsible person so just pay it back. Don't be cheap.
2007-03-17 19:28:12 · answer #1 · answered by Your Mom 5 · 0⤊ 1⤋
Also realize that if you do not pay this debt the college will place your transcript on hold indefinitely. This will cause problems for you in the future if you used FAFSA aid at the community college as the government keeps records on where you attended when you took out the aid.
What this will do is prevent you from ever receiving financial aid again from another school since you cannot provide the transcripts for reported schools in your NSLDS records. It also may cause the University to revoke your acceptance if you applied as a first time student when you were not.
Take my advice. Pay the debt. Even if you have to make payments over the course of several months. It has far too great an effect on your future education to be worth it.
2007-03-18 21:59:15 · answer #2 · answered by TJ 1 · 0⤊ 0⤋
...first, you should try to make arr. to take care of your debt... You got the service and they didn't get paid... If you've been turned over to collections you can be sure you've been reported to the Credit reporting agency's... the National BIG BOYS who track your credit... that's not good cuz now when you go apply for a job, "they" run a credit ck on you and "poof" you don't get hired... you get higher rates on your credit...that's if anyone gives you credit... basically you become a "cash in your pocket" person... pay the bill, clear your credit... you'll be glad you did.
2007-03-18 02:32:22 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you don't pay, it will go on your credit report and it will lower your credit score. You definitely want to avoid this because credit is everything in this country.
Next time, talk to your financial aid's office and see if you can apply for a fee waiver.
2007-03-18 02:42:56 · answer #4 · answered by gradjimbo 4 · 0⤊ 0⤋
cant pay what you don't have man. they can take you to court, however, if u dont pay they will prolly jus put it on your credit report....and b.t.w. what good is 1 semester going to do for you? that dont get a degree in anything...lol
if you need financial aid, check out the site below...might be available in your state, might not. it is in mine.
2007-03-18 02:29:34 · answer #5 · answered by Rob 2 · 0⤊ 0⤋
it goes on your credit history and stays there for 10 years. when you go to borrow money from ANY lending institution (like a car loan, a credit card, a home loan, etc) you pay the "this guys a deadbeat bum" rate on your loan with is WAY higher than "this guy is responsible" rate.
WAY higher.
2007-03-18 02:29:07 · answer #6 · answered by Sarge1572 5 · 0⤊ 1⤋
You pay up or they take you to court and then you pay even more..
2007-03-18 02:26:46 · answer #7 · answered by lyllyan 6 · 0⤊ 0⤋