Old Student Loan debt!!

ronson49

Watch out Ruky, the people on here will have you licking organic materials on the sidewalk for a meal "so long as you pay those debts".

You cannot escape SLC I am afraid. Tried it for a long time. But you can escape other debts to make up the payment.

Its funny a person on here started to pay back "debt free wannabe" in 2004 and they are still paying it, but I just ran from it and now I dont have to pay it

Its called being a mug and most of the folks here jumping in to give you a dig are exactly that.

Good luck.

CLAPTON

ruky_uk wrote: »

after the course ended i did contact them and was told my deductions would be taken automatically when i start to earn enough. I have details of when this call was made so will be referring them to this!

they will then have proof that you were aware of your responsibility to repay the debt.

LunaLady

ronson49 wrote: »

Watch out Ruky, the people on here will have you licking organic materials on the sidewalk for a meal "so long as you pay those debts".

You cannot escape SLC I am afraid. Tried it for a long time. But you can escape other debts to make up the payment.

Its funny a person on here started to pay back "debt free wannabe" in 2004 and they are still paying it, but I just ran from it and now I dont have to pay it

Its called being a mug and most of the folks here jumping in to give you a dig are exactly that.

Good luck.

Brilliant advice...not!

mynameistallulah

ronson49 wrote: »

Watch out Ruky, the people on here will have you licking organic materials on the sidewalk for a meal "so long as you pay those debts".

You cannot escape SLC I am afraid. Tried it for a long time. But you can escape other debts to make up the payment.

Its funny a person on here started to pay back "debt free wannabe" in 2004 and they are still paying it, but I just ran from it and now I dont have to pay it

Its called being a mug and most of the folks here jumping in to give you a dig are exactly that.

Good luck.

And you're still in debt now - wow, good going there ronson!

ronson49 wrote: »

I am in a similar position to clear my student overdraft plus various old bills etc. 2900 is what I need over 3 years.

I got hit 18 months ago with a DWP, HMRC and SLC bill and Santander gave me a loan of 2k. I currently owe 600 on that.

So you could try them.

I am 18k with 4k overtime for 3 years.

I need 3 grand for 3 years which would tally at about 110 a month for my entire debt payments. Without this, times are going to be tough for a while. I have tried even my own bank. No luck.

Is there any difference between applying for a loan and applying for a credit card?

PollyOnAMission

Am I right in thinking that the interest rate for these loans is the lower of a) the rate of inflation or b) Bank of England base rate + 1% ?

In that case, the interest you have incurred isn't actually costing you anything in real terms. The amount you owed at the start will still buy you roughly the same amount of "stuff" as the amount you owed right before you started to pay any back. So really, you're not losing out having not paid it for those years...

PollyOnAMission

The "no real cost of borrowing" thing is explained here
http://www.moneysavingexpert.com/students/student-loans-repay

ruky_uk

ronson49 wrote: »

Watch out Ruky, the people on here will have you licking organic materials on the sidewalk for a meal "so long as you pay those debts".

You cannot escape SLC I am afraid. Tried it for a long time. But you can escape other debts to make up the payment.

Its funny a person on here started to pay back "debt free wannabe" in 2004 and they are still paying it, but I just ran from it and now I dont have to pay it

Its called being a mug and most of the folks here jumping in to give you a dig are exactly that.

Good luck.

Thank you so much for your post. I honestly, really really appreciate it.

I did not actually realise just HOW judgemental some people really are....

i actually am from an advice background and help people with their finances on a daily basis!!! (how ironic!!!) Most my client's are very greatful for the free and impartial advice offered to them, but when it comes you myself i guess i just need a helping hand. Its much easier telling others what to do rather than doing things yourself!!

I have been in touch with them - i am going to pay back what i borrowed however i will be raising a complaint into their conduct. No, i did not contact them to tell them i am now earning over the threshold limit, however they also failed to inform me of the charges and did not take my money when they could have. Hopefully if i get the amount reduced i will post it on the forum.

Thanks for the support.:)

mynameistallulah

ruky_uk wrote: »

Thank you so much for your post. I honestly, really really appreciate it.

I did not actually realise just HOW judgemental some people really are....

i actually am from an advice background and help people with their finances on a daily basis!!! (how ironic!!!) Most my client's are very greatful for the free and impartial advice offered to them, but when it comes you myself i guess i just need a helping hand. Its much easier telling others what to do rather than doing things yourself!!

I have been in touch with them - i am going to pay back what i borrowed however i will be raising a complaint into their conduct. No, i did not contact them to tell them i am now earning over the threshold limit, however they also failed to inform me of the charges and did not take my money when they could have. Hopefully if i get the amount reduced i will post it on the forum.

Thanks for the support.:)

The chances of the SFE/ the SLC reducing what you owe are zero. It is very low in cases where the fault is wholly on their part, but as you admit you have been just as negligent as them, there is not a hope of any reduction. Focus your attentions on something constructive, not fighting a losing battle.

RDG

ruky_uk wrote: »

however they also failed to inform me of the charges and did not take my money when they could have. Hopefully if i get the amount reduced i will post it on the forum.

What charges? It isnt a normal laon where none payment gets charges added on. As already stated the interest rate is that of inflation or lower depending upon the BoE rate.

You say you contacted them after you finished your degree and they said it will be automatic. But then when you wnet over in 2007 you didnt think hold on why havent they taken anything. A year passes and still nothing but instead of thinking hold on Im not paying anything you just ignored it.

5 years later they have finally realised whats going on so just accept it, complaining about them not doing something is fair enough but you need to think about the fact that you did nothing yourself.

Im not being judgemental or telling you to buy organic whatever as some one stated but it just winds me up that you think they should give you something for nothing. If you had been contacting them every 6 months and they were still doing nothing then I would have said complain and ask for the interest which has been accrued from the amount you would have payed off refunded. It would probably only be a few quid mind.

tonkinator

ruky_uk wrote: »

Thank you so much for your post. I honestly, really really appreciate it.

I did not actually realise just HOW judgemental some people really are....

i actually am from an advice background and help people with their finances on a daily basis!!! (how ironic!!!) Most my client's are very greatful for the free and impartial advice offered to them, but when it comes you myself i guess i just need a helping hand. Its much easier telling others what to do rather than doing things yourself!!

I have been in touch with them - i am going to pay back what i borrowed however i will be raising a complaint into their conduct. No, i did not contact them to tell them i am now earning over the threshold limit, however they also failed to inform me of the charges and did not take my money when they could have. Hopefully if i get the amount reduced i will post it on the forum.

Thanks for the support.:)

Don't cling on to the one person telling you not to pay it back in this thread, as if it's the advice everyone's given.

Just be careful. Don't bow down to the naysayers either.

It can't hurt to ask that you pay less, just expect them to say No