Each of us lives only now, in this brief instant. The rest has been lived already. So make the most thoughtful choices you can today that will lead to a better future.
Steve's Thought of the Day
Stop drifting and hoping a magic solution will appear. Instead, you can participate in rescuing yourself. Find peace by pursuing facts through trusted advisers and research rather than the blind trust of salespeople trying to sell you something by almost any means necessary.
Steve's Thought of the Day
Make decisions to deal with your debt with logic and facts, not assumptions, and worry about what other people will think. People who judge you will soon be forgotten. Nobody thinks about anyone that much.
Steve's Thought of the Day
The world is nothing but constant change. Your life is only a perception. Choose a way out of debt based on facts, not assumptions. Do what is best for your future because those that judge you will not feed you.
Steve's Thought of the Day
Do you have a greater responsibility to repair your financial past or your financial present and future? Make good choices that allow you to tackle your debt and immediately start building your emergency fund and saving for retirement. Tomorrow will be here before you know it. Lost time is a sin.
Steve's Thought of the Day
There is no sense in wasting a perfectly good financial mistake. Instead, learn from it and do better moving forward. The past is gone. Turn and face the future now.
Steve's Thought of the Day
Those who judge you for past financial mistakes are not your friends. So don't make choices about your future out of fear of what they may think. Instead, make choices based on truth, fact, and what is best for you moving forward from today.
Steve's Thought of the Day
Don't believe everything you think. Challenge your assumptions about getting out of debt. Do what is best for you, not others.
Steve's Thought of the Day
Is it less moral to file bankruptcy or to not take action that leaves you old, broke, hungry, and dependent on others?
Steve's Thought of the Day
If bankruptcy is so bad, why did our Founding Fathers specifically include it in the U.S. Constitution as protection for financial difficulties?
Stop listening to people that say bankruptcy is a last resort. It is neither first nor last. It is a tool like credit counseling, debt settlement, and others. For the best result, you need to use the right tool for the job.
Steve's Thought of the Day
People that tell you to avoid bankruptcy want to sell you something else are repeating something they heard or do not know what they are talking about. Get the facts and then make your own decision. Don't let an unskilled script-reading commissioned salesperson make life decisions for you.
Steve's Thought of the Day
Debt problems are like fingerprints. No two are alike. A one-size-fits-all solution will give you a one-size-fits-all result. You deserve better.
Steve's Thought of the Day
You are not your debt. Your value, self-esteem, and existence should not be defined by the money troubles you may be facing right now. Debt problems are solved with proper action, not guilt, self-hatred, and disgust.
Steve's Thought of the Day
Debt is nothing more than math wrapped in emotion. The math is easy, the emotional part leads us to do impulsive things. Not the right thing.
Steve's Thought of the Day
What type of money personality do you have? It is important to know. Take my online test now and discover how you unconsciously deal with money, credit, and debt.
Steve's Thought of the Day
How much retirement savings are you willing to throw away by dealing with your old debt instead of preparing for your financial future? Find how much you will lose by making the wrong choice. Use my online debt repayment calculator now.
Steve's Thought of the Day
Does it make more sense to ask for life-altering debt advice from an unskilled and untrained commissioned salesperson in a call center or an experienced debt coach like Damon Day that provides a customized solution for money troubles?
Steve's Thought of the Day
I Walked Out of Community College and They Want Me to Pay
So I signed up for a semester at a community college, after about 1 month in I realized it wasn’t for me and stopped attending. I did take out a student loan and currently owe about 3000. They used to call me all the time and I never answered, they also currently send me mail about my balance every month. I checked my credit score months ago and hit my score about 120 points, from them and I am recovering my score and haven’t got hit again. My question is if I don’t pay, will this eventually come off my record and not hit my credit score again, or is this for life?
Will this continue hurting my credit for life or stop?
Johnny
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Answer:
Dear Johnny,
If you had withdrawn before the last day to withdraw you would have not owed any balance or a partial one. If you just decided to stop going, that your choice but you are then obligated to pay for the semester if you did not withdraw from.
I would imagine it will hurt your credit score since it will be reported for up to 7.5 years after you defaulted.
This can be mitigated a bit if you focus on building good credit. If your credit history basically ends with the default it will hurt you more. Credit is easy to build. Read this.
If you can update me in the comments I’d like to know if this is a debt owed to the community college or is a federal or private student loan. It makes a difference.
Sincerely,
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
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4 thoughts on “I Walked Out of Community College and They Want Me to Pay”
Moving forward in life it is important to remember that there are procedures which must be adhered to when interacting with others in a contractural capacity. It will never work to a. assume your intent not to proceed or to proceed is obvious based on your actions b. assume that because you determined something wasn’t fair, it is a given and you are absolved from responsibility, and c. believe ignoring a problem will make it cease to exist.
There is a date by which you must withdraw from a class in order to avoid a financial obligation and also an incomplete which will impact your g.p.a.
Also, if you received funds from a loan intended for school, where is that money? Did you give it back? Why would you think that was suddenly a gift? It is important as an adult to keep good records, to adhere to dates and deadlines and to fulfill obligations. Protect your name and credit score, these are a tool by which those who do not know you can assess whether or not you are a person of integrity and therefore someone they want to risk doing business with, taking a chance on or lending money to. Your credit score is used to determine rates for loans, to determine the cost of your auto insurance, sometimes to determine whether or not you will get the job. Pay attention. Fix this.
Thanks for offering up your advice. I’m always surprised by the number of times I hear from people who didn’t go back to class and surprised they owe the tuition. Knowing and researching the process is great advice.
Moving forward in life it is important to remember that there are procedures which must be adhered to when interacting with others in a contractural capacity. It will never work to a. assume your intent not to proceed or to proceed is obvious based on your actions b. assume that because you determined something wasn’t fair, it is a given and you are absolved from responsibility, and c. believe ignoring a problem will make it cease to exist.
There is a date by which you must withdraw from a class in order to avoid a financial obligation and also an incomplete which will impact your g.p.a.
Also, if you received funds from a loan intended for school, where is that money? Did you give it back? Why would you think that was suddenly a gift? It is important as an adult to keep good records, to adhere to dates and deadlines and to fulfill obligations. Protect your name and credit score, these are a tool by which those who do not know you can assess whether or not you are a person of integrity and therefore someone they want to risk doing business with, taking a chance on or lending money to. Your credit score is used to determine rates for loans, to determine the cost of your auto insurance, sometimes to determine whether or not you will get the job. Pay attention. Fix this.
Thanks for offering up your advice. I’m always surprised by the number of times I hear from people who didn’t go back to class and surprised they owe the tuition. Knowing and researching the process is great advice.
Do I have to pay it back?
Answered.