Statute Barred Limitation Act 1980 & Default advice?

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  • bery_451
    bery_451 Posts: 1,781
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    So should i:

    - reply to the lender?
    - complain to FOS?
    - complain to OFT?

    Which order should I do first?
  • chanz4
    chanz4 Posts: 10,859
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    op do you have a ccj?
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • bery_451
    bery_451 Posts: 1,781
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    chanz4 wrote: »
    op do you have a ccj?

    No a default
  • rizla_king
    rizla_king Posts: 2,895 Forumite
    bery_451 wrote: »
    So should i:

    - reply to the lender?
    - complain to FOS?
    - complain to OFT?

    Which order should I do first?

    Lender. Then the OFT if you feel like it. Then the FOS if the lender is still trying to hoodwink you after 8 weeks.
    Still rolling rolling rolling...... :) <
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  • bery_451
    bery_451 Posts: 1,781
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    rizla_king wrote: »
    Lender. Then the OFT if you feel like it. Then the FOS if the lender is still trying to hoodwink you after 8 weeks.

    what about trading standards? where do they rank when it comes to complaint bodies?
  • bery_451
    bery_451 Posts: 1,781
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    Can the Statute Barred Limitation Act 1980 be used against the Student Loans Company or is the SLC excused from this act cause they are a unique lender making them different to all lenders out there?
  • fermi
    fermi Posts: 40,546
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    http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act
    Student loans

    There are ‘old style’ and ‘new style’ student loans. Old-style student loans are for students who started their university course before September 1998. New-style student loans apply to students starting their course from September 1998 onwards.

    The Limitation Act says that the limitation period for student loans is six years.

    The cause of action (when the limitation period starts running) for old–style student loans, is usually when the loan became due for repayment in the April following the conclusion of your course. However, if you asked for it to be deferred within the six year limitation period, this would have restarted the limitation period.

    For new-style student loans, the cause of action is likely to be when your earnings reach the set level at which deductions from your wages can begin. Because the Student Loan Company can take money directly from your wages, it might be more difficult to use the Limitation Act.
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  • bery_451
    bery_451 Posts: 1,781
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    fermi wrote: »

    Yeah its the new style loan. So you saying its difficult but not impossible to use statute barred limitation act against SLC. What factors make it difficult?
  • bery_451
    bery_451 Posts: 1,781
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    Update:


    Student loans company said Income Contingent Repayment (ICR) Loans are not governed by the Limitations Act 1980.


    Is this true?
  • fermi
    fermi Posts: 40,546
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    That is a lie. They are covered by the Limitations Act.

    The things is though, the Limitation Act just bars legal action to recover a statute barred debt. It doesn't bar anything else.

    On the new style post 1998 student loans, while legal action can be barred, they don't need it as those loans are deducted from source on your salary. The Limitations Act doesn't bar them collecting them that way.
    Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB

    IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
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