Paying back an over payment..incomings & outgoings advice please.

the_devil_made_me_do_it

I have an overpayment of my student loan as I had to drop out due to ill health.

Since 2012, student loans were happy to accept a minimum re-payment. Now they are saying that I need to clear the debt quicker than I anticipated even though my circumstances since leaving uni hasn't changed in terms of finances.

They have asked me to give them my details of my incomings & outgoings so they can work out a new payment plan.

I know what my incomings are, however, does anyone know what they would class as outgoings?

If anyone could offer advice, it would be much appreciated.

fishybusiness

Are they really allowed to request that information?

I owed them £1600 a few years ago, and went through the same process.

Initially offered them £30 a month, I agreed to review it, and every six months afterwards I received a nasty letter from them, demanding the full amount.

Each nasty letter was followed with a phone call to their office, which started with them demanding the full amount owed. I always said I had no extra money (was true) and would continue to pay them their £30 a month. Carried on that way until I had about £400 left and I paid it off.

I wonder what happens if you stick to your plan and refuse to give any more information?

the_devil_made_me_do_it

I did actually give them a piece of my mind. I said it was rather intrusive asking for such personal information.

The person I spoke to on the phone was adamant that I had to give this information so they could make a decision on what I could afford to pay.

I only have £800 left of the over payment. So, I really don't know what the urgency is.

the_devil_made_me_do_it

Just bumping this up

Voyager2002

the_devil_made_me_do_it wrote: »

I did actually give them a piece of my mind. I said it was rather intrusive asking for such personal information.

The person I spoke to on the phone was adamant that I had to give this information so they could make a decision on what I could afford to pay.

I only have £800 left of the over payment. So, I really don't know what the urgency is.

I don't think it intrusive: you owe them money; everyone agrees that you should pay it off bit by bit, paying what you can afford each month; they just need a picture of your financial situation so that you can agree what you can afford.

For listing your outgoings, start off with the things that you have to pay: rent; bills; cost of travel to work; clothes for work; food. With a little creativity you should be able to ensure that all that is left from your income after covering necessities is that amount that you are paying them. Obviously don't include a budget for holidays, alcohol nor for "going out".

Taiko

Well, considering that, as per the contract you signed, they can demand the repayment in full straight away, I'd say they're being quite kind.

As above, give them some information, and come to a reasonable middle ground. You're better off complying with the request in all honesty.

the_devil_made_me_do_it

They have asked for the re-payment of the full amount. However, the letter also says that if you are not able to pay the full amount, then they will accept a proposal of what you can afford.

I was paying them x amount of pounds a month, which they agreed to accept. Now they are saying I need to up the payments even though I am still in the same financial position.

There are many cases where people owe money. For example council tax, utility bills. The usual circumstance is as long as you offer to pay so much a week/month, then they have to accept it.

I have never defaulted on any of my payments to Student Loans Company, yet their attitude would say otherwise.

In fact, they said they would email me a form to fill in detailing my incomings/outgoings. I have still to receive the email.

jacques_chirac

No, they do not have to accept whatever you offer. They will have difficulty enforcing a debt through the courts if they do not accept a reasonable offer. Without the SoA they do not know what is reasonable.

You are not in a position to give them a piece of your mind. It is you that owes them money, it is you that is in breach of your agreement.

Rather than waiting for them to send you a form, you can download one from the Debtfree board on here.

the_devil_made_me_do_it

I am not in breach of any agreement. I have never defaulted on any of the payments I have been asked to make.

Anyway, I think this thread has drifted off topic. I basically asked what is classed as outgoings.

Had to telephone them again today as I still hadn't received the email. They managed to send it whilst I was on the telephone.

Also, I couldn't just send them details of my income & outgoings. The form has to be filled in their way & digitally signed.

Taiko

It's not drifted off topic, it's just you being a moron and trying to shirk your responsibilities.

http://www.sfengland.slc.co.uk/media/559131/sfe_pn1_1314_d.pdf

Pages 21 & 22 of that are the loan agreement. That loan agreement has not had it's wording changed significantly for over 10 years now. I'd obviously like to draw your attention to the general declaration, and also sections k and l of the loan contract:

I agree that in the event of receiving an
overpayment of financial support, I am
obligated to repay this in full.

k I agree to take all future action requested by
the lender and provide the lender with all
information required to ensure repayment,
in accordance with the regulations referred
to in paragraph b.
l If I breach any of the terms under which
any loan(s) will be made I agree that I
will be obliged to pay any charges and
penalties which may apply under the
Teaching and Higher Education Act 1998
and the regulations made under that Act,
as amended from time to time or successor
legislation and/or regulations

Provide them with what they're asking for, or you'll only find yourself in more bother, because when, not if, it goes to court, ignorance is not a defence.

the_devil_made_me_do_it

I'm not a moron & I am certainly not trying to shirk out of my responsibilities at all. I am well aware that I have to repay the overpayment thank you.

Also if I was trying to shirk my responsibilites, I wouldn't have responded to their letter. I would've just ignored it & waited until I was sent final demands ect.

If you bothered to read my initial post, I was basically asking what were classed as outgoings.