Student Loan Enquiry - Statute Barred ?

jamiep_uk

Hi All

Slightly unusual one ..

I got into money troubles after graduating from university in 1999.
I wrote to all my creditors and managed to negotiate settlements.
I made a large payment to student loans company in 2002 under hte impreession it was a settlement.

Since then I am now debt free etc.
This year a Student Loan Annual statement arrievd at my address with an outstanding balance along with interest.
Since 2002 I have made no payment and no awknowledgement of the debt.
Is this Statute Barred? Although they have sent me this statement there is no demand for payment?

any advice please?

zppp

jamiep_uk wrote: »

Hi All

Slightly unusual one ..

I got into money troubles after graduating from university in 1999.
I wrote to all my creditors and managed to negotiate settlements.
I made a large payment to student loans company in 2002 under hte impreession it was a settlement.

Since then I am now debt free etc.
This year a Student Loan Annual statement arrievd at my address with an outstanding balance along with interest.
Since 2002 I have made no payment and no awknowledgement of the debt.
Is this Statute Barred? Although they have sent me this statement there is no demand for payment?

any advice please?

Here is information on write offs:
http://www.slc.co.uk/about%20student%20finance/products%20and%20services/write_off_terms.html

I also suggest you have a look at the fact sheet here:
http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=30_student_debt

My understanding is that when the new income contingent loans were introduced in 1998, these any future loans are not covered by the Consumer Credit Act and are therefore exempt from the statute of limitations.

KingElvis

I think I'm right that student loans taken before September 1998 can become SB like any other loan as along as the standard six year rule has been taken into account.

The new style ones after that date cannot be escaped as far as I know.

(I may be wrong so please do wait for others)

jamiep_uk

Mine was definetly pre 1998 loans

Hax

jamiep_uk wrote: »

I got into money troubles after graduating from university in 1999.

jamiep_uk wrote: »

Mine was definetly pre 1998 loans

If you graduated in 1999 then it is highly unlikely that your final year started before September 1998.

KingElvis wrote: »

I think I'm right that student loans taken before September 1998 can become SB like any other loan as along as the standard six year rule has been taken into account.

The new style ones after that date cannot be escaped as far as I know.

Therefore, if you took a loan for your final year, that will have been one of the "new" ones.