Statute Barred Student Loan

billybraggtastic

talana wrote: »

I don't understand why you want to go the statute-barred (statute please rather than statue) route if you intend to do what you say.
As soon as you then make an arrangement to pay it's not statute-barred any more, so it doesn't achieve anything.

Beat me to it!!!

DarkConvict

As soon as you then make an arrangement to pay it's not statute-barred any more, so it doesn't achieve anything.

Wrong, once statute barred it is always statute barred. It cannot be revived by any action by the debtor, creditor or the courts.
You could agree to pay £50 a month, then 12 months later just say im not paying anymore, as the debt is statute barred and always statute barred they cannot presue it or use court action. Simply put if the creditor wanted the money they must have got a CCJ against the debtor at the last known address within 6 years of last payment. If they don't it is the creditors own fault for putting there investment in the hands of the debtor.

hazeyb

talana wrote: »

I don't understand why you want to go the statute-barred (statute please rather than statue) route if you intend to do what you say.
As soon as you then make an arrangement to pay it's not statute-barred any more, so it doesn't achieve anything.

Thats probably the thing I have failed to understand. I had thought that if it was statute barred then they were permanently barred from chasing me through legal avenues, but that I would still be open to negotiate a payment plan. However I take it that I can only use the statute barred route if I'm refusing to pay at all.

Whats the best method to use to make a offer to start paying the debt back?

fatbelly

talana wrote: »

As soon as you then make an arrangement to pay it's not statute-barred any more, so it doesn't achieve anything.

Not true - once statute barred, always statute barred.

DVardysShadow

DarkConvict wrote: »

If the debt is statute barred, no payments or written communication from you for 6 years, the debt is statute barred. Yes 1998 debts can go statute barred.

Careful.

Written communication -> Written acknowledgement

Sometimes people do need to write - to stop harassing phone calls for example - but there seems to be an idea out there that you cannot write to the lender or DCA. The only thing to be sure of is not to admit the debt if you do write.

immoral_angeluk

You need to check carefully as to whether this IS statute barred. The consumer credit act only covers consumer credit. Do you have a credit agreement for the loan, what does it say? Does it mention anything about the consumer credit act?

DarkConvict

DVardysShadow wrote: »

Careful.

Written communication -> Written acknowledgement

Sometimes people do need to write - to stop harassing phone calls for example - but there seems to be an idea out there that you cannot write to the lender or DCA. The only thing to be sure of is not to admit the debt if you do write.

True, that is why templates contain the wording i do not acknowledge any debt to your company.

My mistake.

Broken_hearted

Student loans have a different legal standing to other loans. I would check very carefully to see if they can run out as I am pretty sure they don't.

nottoolate

if the are the old mortgage type student loans then they can definitely be statute barred.

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act

Old style student loans

Old style or 'mortgage' student loans are consumer credit agreements. Payments cannot automatically be deducted from your wages. The SLC has to go to court before they can enforce the debt against you. This means that the Limitation Act can apply if you have not paid or acknowledged the debt for over six years.

nottoolate

if they are the old mortgage type student loans then they can definitely be statute barred.

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=25_liability_for_debts_and_the_limitation_act

Old style student loans

Old style or 'mortgage' student loans are consumer credit agreements. Payments cannot automatically be deducted from your wages. The SLC has to go to court before they can enforce the debt against you. This means that the Limitation Act can apply if you have not paid or acknowledged the debt for over six years.

immoral_angeluk wrote: »

You need to check carefully as to whether this IS statute barred. The consumer credit act only covers consumer credit. Do you have a credit agreement for the loan, what does it say? Does it mention anything about the consumer credit act?

all the loans sold to honours student loans are the old mortgage style ones

http://www.honoursstudentloans.co.uk/Application/AboutHonours/Default.aspx

"All the loans which HSL purchased were mortgage style loans granted by the Student Loans Company prior to March 1999"

so they can definitely be statute barred.