Can you charge SLC interest?

Sillychuckie

Hi there.

At the beginning of the year, I still owed the student loan company £120 (£20 over the £100 threshold where they start to take money from your employer).
I have been trying very hard since then to stop them taking payments, but they have continued to do so. I think they have stopped now (need to wait for another month).

Anyway, to cut a long story short, my account is in credit (by a fairly hefty sum).

When they finally repay me the money owed, can I charge them any interest?
I had to pay interest when I owed them money, so surely its fair they pay me some when they owe me?

Thanks.
SC.

telboyo

If you had informed the tax office they would have told your employer to stop taking SL from you.
Common sense tells you to speak to the tax office and not the SLC

CLAPTON

telboyo wrote: »

If you had informed the tax office they would have told your employer to stop taking SL from you.
Common sense tells you to speak to the tax office and not the SLC

common sense may well tell you that
however HMRC will only act on instructions from SLC

Ronaldo_Mconaldo

When you're about a year away from paying off your student loan you are supposed to come to some arrangement where you pay them by direct debit cutting out the employer altogether thereby stopping exactly when you've paid it off. Doesn't help your situation, sorry.

Sillychuckie

Thanks to all 3 replies - but it doesn't really answer my question.

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Off Topic

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I tried the 'Direct Debit' scheme with the loan company twice. It is a joke. They only send a letter to your company to stop payments, once they have seen the direct debit has been taken successfully.

This meant that each time I tried to do it, I ended up paying twice in the same month. I wasn't happy with this, so got a refund on the d.debit payment, and then they started off the other process again.

Its a nightmare, but needless to say, I tried this.
I also contacted them a number of times to stop, but they wouldn't do it until they got my P60.

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Anyway - the question was whether I can charge them any interest? Martin doesn't cover this in any of his articles that I can see. Lets stick to the topic please. I'm curious to know what is 'reasonable' that I can request (if anything).

Thanks. SC.

opinions4u

One thing I have learned in life is that government run or government appointed operations are invariably inefficient. Additionally, they almost never reimburse for their errors or inefficientcies and are highly likely to repeat them again. We have no choice but to continue to deal with these agencies though.

Businesses with customers are usually efficient, but things occasionally go wrong. Many of these will compensate for errors because either (a) the law says they have to or (b) it is good practice to do so and helps to retain a customer who has a choice.

I don't know the answer to your question. But I would assume that the answer is "no".

Lets stick to the topic please

Most appear to have given up on the topic a week ago.

Sillychuckie

OK, fair point...
I'll take it as 'No' also then. Just wanted to rule out any statutary laws or anything like that in the favour of people who take out loans and somehow end up overpaying.

Thank you for your contribution, and the point about 'given up a week ago' made me smile.
cheers.