student loan repayment help please

addman100

I should have started paying my student loan back in April 2005. I presumed that the money would be taken from my wages automatically how ever to this day I have not paid a penny back. I have decided to call them as I would like to start paying it back however I am concerned that they will want back payments from April 2006. Does anyone know if this is the case?
Many thanks
adam

sunflower_rainbow

I think they will contact you when you have to start repayments. I think they only start taking money off you when you are earning over a specific amount... I don't think they would want back payments however.

If they do, i would just complain that they did not send out the appropriate literature regarding your loan and therefore it's their mistake! then maybe i would stamp my feet, slam the phone down, for effect, and march off! ... but that proabably wont help you much...

dexters_mum_2

Hi Adam
Are you earning over £15k per annum, if not, you won't be paying anything back until you do.
DM x

addman100

I do earn over 15K, the problem is they may have sent me paper work in the past I simply cant remember. I am worried that they will ask me to pay the back payments because they may well of contacted me in the past.
adam

dexters_mum_2

Best thing in your case would be to ring up, say you can't remember if you received paper work and they money isn't leaving your wages.
State that you probably won't be able to make backpayments and they will probably be quite prepared to just start your repayments now.
As student loans are pretty much over an indefinite term I am sure they'd be happy you are starting to repay your loan.
Always best to be honest with them, so they can help you best.

Good luck

Metallicjin

Be very careful...... they will want all you owe them! and may not take reasons like not revieving paperwork.

Please post information about how you are dealt with.

One thing I do know about the SLC is keep all paperwork, especially when you pay them and keep your P60 showing repayments. I have been told it takes up to 18 months to show when you repay!!

Idiophreak

I started paying mine back just over a year ago. I didn't have to do anything, I started earning money and they started taking it.

Know that doesn't help much tho

Imelda

Have you spoken to your payroll dept? When I first started work it took well over a year for payments to be taken from my pay, I kept quiet too. Then I changed jobs and I let my new payroll dept know and they sorted it out for me, I didn't speak to the SLC at all. It does all depend on who you get when you phone the SLC, some are good, some are bad and some are just plain incompetent.

Also, other advice- keep track of how much you owe, keep all your payslips and P60s so you can check that they are deducting the right amount. You will get a statement each Sept/ Oct which shows your balance as at the end of the tax year (April 5th/6th). The Inland Revenue only informs the SLC what you have paid off once per year and so if you complete your repayments in May as I did they will continue to deduct the payments until the following April. I sent off copies of my P60 and all payslips to show that I had finished but it still took a good 5/6 months plus endless phone calls, letters and faxes to get them to stop deducting their 9% and to refund what they owed. As far as I am concerned it is their job to know when to start taking the money as they seem to give so little regard to when they should stop.....
Sorry, turned into a bit of a rant! Basically, just keep on top of them, it is very easy to forget about your student loan because you don't hear much from them.

addman100

thanks for all your replies, I shall call them when I get chance and keep you posted.
adam

I'm_With_Stupid

When I started uni, I think the threshold was £10k. Will that figure still apply, or is it £15k for everyone regardless of when they took it out?

freelancemermaid

i would suggest you get an advice agency involved ASAP (this can be the one at your uni, even tho you've left or someone like the citizens advice bureau)

my personal experience is that companies and organisations treat me much better when i've got this kind of help.