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Thread: Walter Mitty?
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Old 17th Apr 2012, 14:54
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ShyTorque

Avoid imitations
 
Join Date: Nov 2000
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To any Fish that are reading this Thread.....Always pay as you go....in Arrears....certainly not in advance by Lump Sum!
Seconded!

if they want your money in advance, it's an interest free loan - for them.

I booked some training, at a "northern" UK flying training school (one of the oldest established here), for a professional fixed wing licence. I was to be there for three weeks, living on site.

They wanted me to pay everything up front on the first day. I declined their kind offer. I immediately suspected they a cash flow problem.

Each subsequent Friday morning I got a phone call from the head of their accounts dept, asking me to clear my account. I did so, the same day, quite happily. This made me suspect even more that they had a cash flow problem.

Not long after I completed my training, they went under. I don't know if anyone got caught by paying up front and not receiving the training, but it wouldn't have been unusual if they had.
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