You couldn’t pay the $350 book rental fee for your two kids at the start of school.
You plan to set aside money and chip away at that big annual bill, which equals half your monthly rent or mortgage. Then you have a car accident, or you need to take your child to the emergency room. On top of those expenses, Christmas is right around the corner.
And in November or December, the calls and warning letters start. You never paid the school, and now they’ve sent your bill to a collection agency. On top of your credit taking a hit, you have to pay late fees.