Avoid ever having to pay back your student loan

Blacksheep1979

or the last time you make a payment

stebiz

Blacksheep1979 wrote:

or the last time you make a payment

Yes that is true also.Stebiz

Crispy_Ambulance

stebiz wrote:

Sorry to be pedantic but it is actually the last time the alleged debtor communicates in writing (and admits liability). Not the last time the debt collector contacts you.Stebiz

Yes, senior moment there, I'm afraid. That'll teach me to post before sufficient caffeine intake for the day! :rolleyes:

But it is important for people to remember that while they are merrily ignoring letters about debts, creditors can and often will be taking you to court. And once a student loan has been defaulted on, the SLC will not usually take the debt back, so it is the debt collector you will be dealing with.

stebiz

Crispy_Ambulance wrote:

Yes, senior moment there, I'm afraid. That'll teach me to post before sufficient caffeine intake for the day! :rolleyes:

But it is important for people to remember that while they are merrily ignoring letters about debts, creditors can and often will be taking you to court. And once a student loan has been defaulted on, the SLC will not usually take the debt back, so it is the debt collector you will be dealing with.

Yes agree entirely. And if you do ignore a summons to do with any debt and it is taken to court, you are likely to get a county court summons, which will stay with you for ever. This would mean that anybody who had a CCJ could be chased indefinately, although your credit record would be clear after 6 years.Stebiz

floyd

I seriously doubt you can avoid paying it back after six years seeing as I graduated in 2000 and started paying back this year after exceeding the payment earnings threshold by 50p!

Blacksheep1979

but you will have been in touch with them no doubt defering it each year?

johncolin78

Yes.

I think many of you here have got the wrong idea. I am not trying to wriggle out of paying my student loan, and I am not "low" or any of the other things I have been called on here.

Simply my friend put forth the idea and I wanted to see if it held any water.

poppy_f1

well i've veen deferring mine since i graduated in 00 and im assuming since each year im signing and sending back the deferment forms its classed as acknowledging the debt is mine down to the communication

Karnam

its worth noting that if you began your degree before 2005 then you are liable for your student loan until you are 65years old. however in the new rules, if you started after 2005 then the student loan debt will expire 25 years after graduation. a v unfair system i thought but i agreed to the t&c of my student loan in 2003 so what else can ya do?

johncolin78

I was always led to believe that the debt expired when yo reached forty. I took my first on in 1998