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if youre in collections with a credit card company

can they take away your school grants? trust me i would rather ask anyone but cafemom this question but i could not find anything on google! bash away but can i please get one answer from a person who knows or even knows a little? :)


Asked by Anonymous at 1:41 AM on Oct. 2, 2009 in

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Answers (6)
  • Honestly I dont know for sure. I do know that i a friend of mine who has serious money issues has no problem getting student loans, scholorships, etc.

    They have a foreclosure and many other things on their credit history and she and her husband have both been able to get financial aid for school.

    Answer by 3_ring_circus_ at 1:49 AM on Oct. 2, 2009

  • thanks, i'm only $400 in debt with this one credit card company when i was younger and i had no clue what i was doing, i didnt realize there was a $175 start up fee that they added onto the credit card, i only spent $45 on it.... they have just been calling a lot now that i got accepted for student grants i thought they were related

    Answer by Anonymous at 1:54 AM on Oct. 2, 2009

  • how long ago? if it was more than 7 years then it shouldnt even be on your credit report unless you have been talking to them. normally after 7 years it will drop off your report, but the catch is if you talk to them then the clock restarts. Normally they will start calling again everytime they sell your account to a new company.

    Answer by 3_ring_circus_ at 1:58 AM on Oct. 2, 2009

  • oh no it's only been one year!

    Answer by Anonymous at 2:08 AM on Oct. 2, 2009

  • in this economy, collections are frequent. People who could pay, no longer can. No one should bash you for that! I dont think you should have a problem. if it were on a student loan, then it probally would

    Answer by Anonymous at 2:58 AM on Oct. 2, 2009

  • I don't think your credit is a factor in getting a grant for school....

    Answer by PaceMyself at 9:02 AM on Oct. 2, 2009

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