Student Loan

welshie1973

Hi,

Not sure if this is the right place but here goes,

Have recently been inundated with calls from Link financial Services regarding student loan from 1996 -1998. Can anyone tell me if these are statue barred???

Many thanks

fermi

They can be, yes.

Depends whether there was a 6 years period where you didn't make a payment or acknowledge them in writing?

Returning the deferment forms counts as acknowledgement for that.

welshie1973

fermi

Many thanks, I did not return the forms due to moving house and various other issues going on my life at the time.

Any advice on my next course of action, having about 15 calls a day to both my mobile and landland at present!

fermi

If you think it is statute barred, then there is a letter at the end of this factsheet to send.

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

It also explains about student loans.

These are the old style ones, so this bit applies:

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.

Asking for the loan to be deferred could count as acknowledging the debt and start time running again.

If you are not sure where you stand, then I would give National Debtline a call free on 0808 808 4000 and they will go through it with you.

fermi

On a side note, some years back quite a large proportion of the older loans were sold off to a company called "Thesis Servicing".

They just happen to be a trading name of Link Financial.