Honours Student Loans

ollyshaw

Interesting rjt.

I am really interested in this as I think I will have to start paying next year (after many many years as a student!).

Keep me informed guys!

Olly

steveimp

exil wrote:

Technically you are in breach of contract. However they should really negotiate with you (you will still owe them SOME money for lost interest, ie by paying early you pay them less interest than what they are entitled to receive by the terms of the contract) rather than acting like loan sharks.

Not true. The SLC terms are quite specific that I can repay at any time without any redemption fees. Honours Student Loans are deliberately trying to move the goalposts - they have no right to do this. I did not choose this company to manage my loans, they were forced on me.

jonnyb1978

Op you are well within your rights here if you have done this properly.

Did you obtain a final settlement figure before you paid it all off. If not your account remains open and you will carry on paying as per contract. The only difference is your account will be in credit. However by refunding you the money back this does not seem the case. I would set up a dispute with the financial ombusman as any dispute with the ombudsman will cancel the bailiffs and the debt collection company. Inform the debt company yourself saying it is being investigated by the Ombudsman. The dept company will then cancel their agreement with the Student loan company in attempting to get the funds off you.

At least this will give you a good few months to sort this mess out whilst the ombudsmen investigate it. In the mean time, get all the info you need. i.e T&C from the loan company etc etc, go the CAB and any info you do recieve in your favour which should be the T&C send this to the ombudsmen when they send you their second letter asking you for any additional information which will help your cause.

s100_2

Hi,

I tried clearing balance on my SL a year back. I was told that honours had bought my loan. So i couldn't be bothered and have just continued to pay the monthly payment as usual. But my statements etc have come form the SLC and not from honours. Is this right? Or do those of you with loans at Honours get a statement from them?

skint_in_need_of_help

Hi, sorry for stupid question but what are T&C? And how do you set up a dispute with financial mbudsman? does it cost a lot? Thanks in anticipation, have had lots of problems with SLC! AAAAAAAAARRRRGGGGGGGGHHHH They are gangsters!

never-in-doubt

FOS is free (the loan company get charged not you!) and you complain here - #8 as directed by Impy78.

Good Luck