We did that too, and I ended up getting to take Algebra I and English I Honors classes in eighth grade, even though I failed Algebra II Honors the next year. :D
Eh, I had good reasons. I had the last lunch, which was right after marching band, and I hadn't started taking my ADD meds yet. It was the last class of the day, which was like "Nap time!" under those conditions. XD Plus, I'm not behind or anything. I'm still ahead, actually, since I took two math classes this year. I'm one of only four sophomores in my entire twenty-something student Pre-Calc class. XD
I was in the sixteenth percentile Geometry grade at my school (I.E, only 16% of my grade was doing worse than I) and in the 100% percentile Algebra grade.
Needless to say, I was laughed at for a few weeks.