PREVENTING LOSS OF BIG DOSH
 

AS WE ARE ALL AWARE, MANY OF THE SCHOOLS AT THE MOMENT WILL BE FACING FINANCIAL HARDSHIP AT THE MOMENT, AND THE CHANCES OF LOSING A BIG HEAP OF MONEY TO A SCHOOL THAT GOES UNDER , HAVE NEVER BEEN HIGHER.
I WILL BE DOING A FROZEN/ATPL VIA THE MODULAR ROUTE AND I'M THINKING OF WAYS TO SAFE GUARD MY MONEY ( AS BEST I CAN).....
THE ONLY TWO WAYS I'VE COME UP WITH ARE...
1/ GET A GUARANTEE FROM THE SCHOOL, THAT MY MONEY WILL BE HELD SEPERATELY FROM THE OTHER COMPANY ACCOUNTS SHOULD IT GO BELLY UP, ENABLING ME TO WALK AWAY FROM THE SCHOOL IF THE WORST SHOULD HAPPEN...
2/OFFER TO PAY THE SCHOOL, AT SAY.. 1000 POUNDS A TIME, THROUGHOUT THE TRAINING, AS AND WHEN REQUIRED.
ARE THESE FEASABLE OR AS ANYONE GOT A BETTER METHOD....
ANY SUGGESTIONS WOULD BE WELCOME.

THANKS :confused:

Jim,

Pay be credit card. Your credit card company will re-imburse you if the vendor is unable to supply the goods.

(Oh, and don't shout please!)

Any other advice welcome, because I'll be in a similar position myself soon!

FFF
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If you book in with SFT Aviation in Bournemouth (my employer, and ATPL school) I understand that the prepaid money is always held in a separate, secure account until it is required to continue training. If you feel this is not secure enough then they are happy to set up a joint account with you to hold the money you are paying. It is then only transferred to SFT's accounts as you use the money, needing your signature.

All the best with your course, wherever you go. I think this is a good time to start - you should finish as recruitment is ramping up.

[ 16 October 2001: Message edited by: Send Clowns ]

Bristol Flying Centre(where I work) would be glad to accept payments as you go AND by credit card.