Help with Student Loans arrears.

ChristopherM_2

Although I graduated in 1997, it wasn't until about 3 years later that I was earning enough to start making repayments, after several months and being made redundant, I got into arrears and stupidly brushed everything under the carpet. The arrears crept up and I began making repayments again in 2003, although due to a change in circumstances some months later, I fell behind again, and the arrears once again built up, again I swpet things under the carpet and the Student Loans Company sold my debt on to another company who were very threatening and would not accept monthly repayments, demanding the whole amount, which I could not afford, they were threatening and not open to any negotiations. As it happened, at around this time (in 2007) I moved cities with work, but since then I have been too terrified to contact them as cannot afford to repay the debt in full and am so worried about bailiffs coming knocking that I have not been on the Electoral Role since 2007.

I'd like to get this sorted as am in a position to offer a monthly repayment, but am worried that they will not accept this and will demand the full amount.

I know I have been reckless and irresponsible in the past, but enough is enough and I want to sort this out once and for all.

Any advice will be much appreciated.

And advice from me is don't ignore your debts as they will always come back and bite you on the !!!!!

nekosuki

I would say, contact them and have a full and realistic statement of affairs ready when you do. It should show all your incomings, outgoings and other commitments. If you can show that your offer is only what you can afford, you should certainly be able to negotiate.

Do you have any other debts which you're currently paying?

ChristopherM_2

I had a CCJ from around the same time which came off my Credit File yesterday (although I have 3 months left and £300 to pay this off at £100 pcm as an Attachment of Earnings). I have no other debts to repay apart from slight Council Tax Arrears for which I make a slight increased monthly payment. My total debt with the Student Loans Company is approximately £4300.