Advice needed re triton demanding high payment

dellydaisy

My husband had a student loan with nat west and once he commenced employment they asked for it back- w couldnt make the full amount so for the past 3 years we,ve been paying off £50 a month (in agreement by ourselves and triton) however they,ve recently been in touch having asked my husbands income and outcome decided we have £300 a month free credit that we should pay more (my husbands wage has gone up in 3 years) but there demanding £150 a month We only have have £700 left to pay in total... But we cannot afford £150 some of the £300 goes on travel expenses to and from our jobs and food etc...


While we could afford to pay slightly more we couldnt afford £150 more....

Any advice were we stand as im really upset and stressed by this matter Im worried sick that we cant meet there demands and we,l end up further in debt.

Vomityspice

You currently have an agreement to pay the remaining sum (£700) back at £50 per month (i.e. 14 months).

Ignore there request to pay more and simply continue to pay the agreed rate. There is no chance the lender is going to take action against you!

dellydaisy

Im unsure without reading the letter but im sure the repayment agreements come up for "renewal" yearly - dont know if this helps or not.

Vomityspice

Doesn't really matter! All that matters is that you are continuing to pay the debt. Remember 'renewal' works both ways! Whatever the bank may believe is irrelevant. Simply tell them you will continue to repay at £50 per month (I'm assuming this is a Standing Order not a Direct Debit?. If it is a DD then change to a SO immediately.).

Simply ignore their pleas for you to increase your repayments. If they ask about your financial status tell them to sod off.

What can they actually do? Nothing! If you were not paying the money they could make a court application and chase the money but they would be laughed out of court if they tried to make a claim for the remainder with such a short time to go, and your not in default.

Tell them in writing that you will continue to pay at £50 per month. It is non of their business what your personal circumstances are.

If your still worried, make an appointment with CAB and they will reaffirm what I have said. The bank will not be taking you to court and they can do nothing to make you pay more.

dellydaisy

Will try that thanks x

dellydaisy

Triton have still phoned up saying they will start legal proceedings if we do not tell them our current income and outcomes... So my husband has told them that are we obligued to tell them-they,ve said no were not but will not set up a payment plan until we,ve sorted it.

Vomityspice

Legal proceedings? Rubbish! Nothing more than a silly threat!

As you have already been paying them (how ?) just continue. The simplest method would be a Standing Order to transfer into their account. If they cancel this, just send a cheque each month.

Don't fall into the trap of not paying, otherwise that will open up the potential of an action for default.

dellydaisy

Hi yes its standing order thru my internet banking monthly-we,ve never missed a payment in the few years we,ve been paying back.

Vomityspice

You have absolutely nothing to worry about. Just keep paying the £50 per month.

Even if Triton were stupid enough to enough to make an application (they won't), it would take almost 6 months to get into court, by which time you would only owe £350. Any judge would be less than impressed with the application as it would be wasting their time! Your NOT in default and will have paid off the capital in 14 months.

I realistically cannot see Triton even trying because they know they would be canned in court for such an application! Their only option is to try to scare you into paying more. Stay strong and tell them to sod off.