Thread: Educational Funding Company
10/04/2009 9:35pm, #1
- Join Date
- Oct 2009
- Jiu Jitsu / Muay Thai
Educational Funding Company
Anyone here have any experience dealing with this martial arts billing company? I've read online about them and i've seen many complaints about canceling a contract with them? They seem to auto renew your policy and only allow you to cancel if you move a certain distance or become disabled. I am looking to sign a 6-month contract with an MMA school, but I understand the contract language states 12-months, so I am concerned I may not be able to stop training in 6 months, as I have been offered. If anyone has good and/or bad comments about their dealings with this company, please post your experience. Thanks!
10/04/2009 10:17pm, #2
Try these, which I got from the search function (see link @ upper right): http://www.bullshido.net/forums/show...unding+Company
Automatic billing is something to be wary of. It can go wrong for a lot of reasons.What a disgrace it is for a man to grow old without ever seeing the beauty and strength of which his body is capable. -Xenophon's Socrates
10/04/2009 10:31pm, #3
- Join Date
- Jan 2008
- MCMAP, Judo, sex appeal
My school does it. Dude, its good for the school. Signing a contract for training is stupid, but having them electronically take it out saves YOU hassle and time, and guarantees your instructor gets PAID.
I've never had any problems with it, and I just gotta give my coach a heads up a week or two before I want it to be stopped.
Seriously dude, it makes things better all around. No awkward conversations for your coach about payments, no worrying about getting to the bank in time, it just comes out automatically.
just deal with it, make sure the cash is in your account.
PROOF that I'm not a completely useless poster:
Originally Posted by Cy Q. Faunce
10/05/2009 10:36am, #4
- Join Date
- Nov 2007
My school uses EFC for billing, I know Omega used to use them, too, not sure if he still does. The terms of the agreement are set by the school EFC collects for, including whether you auto-renew or not. EFC's job is to collect money from you.
If you don't like automatic payments, the school may offer a coupon book option, where they give you a little booklet and you send them a check. The school may not offer that: it's a big pain in the ass from the school's side of things, because people often are late or miss payments, which is what most schools go to EFC and automatic billing to avoid in the first place.
EFC can be used for good or evil. The school's the big factor. If it says twelve months on the contract, make them change it to say six. It's a big trend in EFC schools right now to do six instead of twelve, so they may just be changing over. Many start with six months and move you to twelve months if you stick around (easier for everybody, provided you're happy with the school).
Make sure you have EFC's number, and that if you don't want to renew, YOU call them and tell them you don't want your agreement renewed. Still tell the school that you're quitting, obviously, but it's best not to leave it in anyone else's hands.