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16-Year Old Student Loan
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WhySoHard_2
Posts: 300 Forumite
in Loans
I took out student loans in 1992 an 1993, totalling around £1700. I led a very chaotic lifestyle after that and never repaid the loans. I moved around quite a bit and I never ever even received letters requesting repayments. I've not heard from the Student Loans Company at all since 1993. What is that about? Don't they have ways of tracing you?
I don't even know what the amount I owe is now, so how do I pay it back? Who would I contact? Or does the fact I've not heard from them in 15 years mean they've written the loan off? Wouldn't/shouldn't they trace me through the Inland Revenue (who do have my up to date contact info)?
Are student loans repayable forever or can they get statute-barred? Do you eventually get CCJ'd if you don't pay?
I don't even know what the amount I owe is now, so how do I pay it back? Who would I contact? Or does the fact I've not heard from them in 15 years mean they've written the loan off? Wouldn't/shouldn't they trace me through the Inland Revenue (who do have my up to date contact info)?
Are student loans repayable forever or can they get statute-barred? Do you eventually get CCJ'd if you don't pay?
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I took out student loans in 1992 an 1993, totalling around £1700. I led a very chaotic lifestyle after that and never repaid the loans. I moved around quite a bit and I never ever even received letters requesting repayments. I've not heard from the Student Loans Company at all since 1993. What is that about? Don't they have ways of tracing you?
I don't even know what the amount I owe is now, so how do I pay it back? Who would I contact? Or does the fact I've not heard from them in 15 years mean they've written the loan off? Wouldn't/shouldn't they trace me through the Inland Revenue (who do have my up to date contact info)?
Are student loans repayable forever or can they get statute-barred? Do you eventually get CCJ'd if you don't pay?
Someone asked the national debt line this and this is their reply
A student loan is a debt under statute, this means that the Limitations Act (LA)1980 does apply. The limitations period on this debt is 6 years and not 12 years. However, as this is a new style student loan, HMRC can deduct repayments directly from your PAYE even if the debt is statute barred, which only allows you to defend the matter if it is taken through the courts.
It will be up to you whether you want to contact SLC or wait for them to contact you. If they did find you, they could start to recover the debt through your PAYE. If they were unable to find you, there is a possibility that they may treat this as a bad debt and sell it onto a debt collection agency (DCA). If this was to happen, the DCA would then try to recover the debt from you. If 6 years have passed with no written acknowledgment and no part payment you can then use the statute barred argument. If the DCA were to start court action, this can be used as a defence, however we would recommend that you get legal advice and take into account the additional costs that may be involved if your defence is unsuccessful.0 -
marshallka wrote: »Someone asked the national debt line this and this is their reply
A student loan is a debt under statute, this means that the Limitations Act (LA)1980 does apply. The limitations period on this debt is 6 years and not 12 years. However, as this is a new style student loan, HMRC can deduct repayments directly from your PAYE even if the debt is statute barred, which only allows you to defend the matter if it is taken through the courts.
The one being talked about is an old-style loan, not new-style. The new-style came into force for 1998. The old-style are set up so that it is not taken out 'at source' as part of the PAYE.
Other than that, sorry can't offer much help.0 -
Hi WhysohardThe SLC do have ways of tracing you - I took out my loans around the same time as you and I seem to remember providing the names and addresses of people I knew around that time - well, those people got contacted by SLC years ago, after they refused to defer payments (I was earning under the threshhold).I found out about a couple of years ago that they had got a CCJ against me, four and a half years previously, so if I were you I would check with the registry trust to see if the same thing has happened to you - like you, I moved around a lot after I graduated and I didn't keep them up to date with my new addresses after a certain point - basically, when they started getting difficult about deferring payments.While I'm on here, does anyone know what the likelihood is about this CCJ coming back to bite me? It's been six years now so it has dropped off my credit record, but what are the chances of someone else buying it up? Don't they have to apply to the court? Would the court grant them permission to pursue it after such a long time? Any advice welcome.0
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I just received a phone call at work from Scotland re a student loan from 1993. I have only been here since June and have moved 11 times since 1993. Two UK moves and 4 State moves. they find us in the end - I had completely forgotten about it.0
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