I have written before about the problems that The College Network has gotten into. The College Network arranged for its students to finance their contracts through various credit unions. The primary Credit Union appears to have been Southeast Financial Credit Union, but others include We Florida Financial Credit Union and City County Credit Union, Lifeway Credit Union and maybe others.
Despite repeated efforts to shut down this company by government agencies, The College Network is still doing business, still signing up new customers (victims), and still saddling these students with piles and piles of debt. What these students are not being told is that they don’t necessarily have to blindly keep paying on these long term contracts to avoid ruining their credit for years. If the contracts are illegal as the New York and Indiana attorneys general have asserted, then claims and defenses that could be raised against The College Network can also be raised against the companies financing the contract. Moreover, the illegalities can be used. Please call my office at 317-662-4529 or find a NACA attorney in your area at www.consumeradvocates.org.