Student Loan Enquiry - Statute Barred ?
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?
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?
0
Comments
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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.Best Regards
zppp0 -
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)"We want the finest wines available to humanity, we want them here, and we want them now!"0 -
Mine was definetly pre 1998 loans0
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I got into money troubles after graduating from university in 1999.Mine was definetly pre 1998 loans
If you graduated in 1999 then it is highly unlikely that your final year started before September 1998.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.My posts are my own opinions based on my experiences and info gathered from sites such as this.
They are not a substitute for professional financial advice - but you knew that already didn't you?VSP 2011 - Member #25 - Started 6th December 2010 - Total As Of 4th May 2011 (21 weeks in!) - £323.67/£500 - So far so good!0
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