Treatment Abuse, Behavior Modification, Thought Reform > The Ridge Creek School / Hidden Lake Academy

Federal Class-Action Lawsuit Filed Against HLA & Buccell

<< < (21/22) > >>

TheWho:

--- Quote from: ""happyday7"" ---What I meant by pre-pay the tuition is that when you get a bill due for 04-01-07, it is for May's tuition. The bill due 05-01-07 is for June's tuition and so on. If they were to close in May, they should tell people now and not make them pay on 05-01-07 for June 2007 tuition.
--- End quote ---


I see what you mean.
Even if they want to be upfront with everyone their lawyers/accountants will advise them not to tip their hand until the last minute.  Typically once the announcement is made all the banks and creditors rush in and start freezing assets.  You cant pay any bills unless they are in a certain order and approved by the creditors (if any).  So they will keep the date under their hat as long as possible and then refund the money to the parents, if they paid it after the school knew it was to close.
If they had plenty of funding then they could announce it  months in advance but people would bail out and parents would remove their kids early (not a good business move)

So if HLA knows it is going to close say June 1st then they would accept payments on 5/1/2007 for Junes tuition, but by law they will need to return this because they knew they were closing and the banks would distribute these funds (may take a few months, though) for them.

RobertBruce:
"By law" has never been a huge concern for them.

Troll Control:
indeed.  very astute observation.

and, yes, i'm sure, as the who stated, they WANT to tell the truth to the people they're ripping off, but those damned lawyers and accountants are to blame for crushing these families emotionally and financially, not HLA.  

they're a TBS, people.  they're here to help! :roll:  :roll:

RobertBruce:
themselves.

Anonymous:
well, the payment thing (not paying for the next month idea) would be all well and good except for the fact that the last monthly payment for the AUGUST grads was in APRIL...remember the money put in up front when the register is for the last 3 months...they are not collecting any funds for any students that are graduating in may OR in august...they are staying a float with only the funds they have for any student that didn't prepay the program or who is there past august...and there was a HUGE push last year for EVERY AND ANYONE coming in to pay in full and most of them did since they were offering 10% off the cost of the program if they did that...i think that discount has been dropped back to like 6% if they are even offering a discount...buch had to pay for the mosaleum (sp)...
so really...they have very very little actual liquid funds coming in...
and for the parents who read this...YOU WILL NOT SEE A PENNY OF ANY OF YOUR PREPAY MONEY WHEN THE SCHOOL CLOSES OR YOU PULL YOUR KID!!! but PLEASE don't let that be a deterrant to pulling your kid...it is just money and you can make more...but you can't replace your kid!!!

Navigation

[0] Message Index

[#] Next page

[*] Previous page