NSW Does Debt from Open Colleges Affect My Credit Rating?

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1 June 2015
I have an outstanding debt of $1500 (original price was over 5k) from Open Colleges for a course I wanted to do, but never started. I lost my job and was unable to pay the remainder

I have been getting letters and emails every 3/4 weeks for last 3 months saying that if I don't pay the full amount immediately I will be going to court and my credit rating will be affected.

Can a private debt like this really affect my credit rating?