Student Loan

ahxcjb

People,

Interested in your experiences / thoughts on my Student Loan that is currently outstanding. It currently stands at a negligible amount of around £500.

I have emigrated from the UK, and have no intention of ever coming back (at least not until I am retired).

The SLC keep sending me these income assessment forms, which I continue to ignore.

So I have a couple of questions, as I have no intention of ever repaying the full amount.

1. Would the SLC accept a potential offer of, say, 100 quid to write off the debt?

2. What's the worst that could happen? I get referred to a debt collector (and get sent a fake legal letter, heh) who then attempts to chase me in another continent? That would be fun.

Thoughts?

(Yes, I realise some will probably morally object to this, and it's really not the amount of money that's the issue, but rather the fact I feel ripped off having been one of the first students with these horrid loans)

CLAPTON

ahxcjb wrote: »

People,

Interested in your experiences / thoughts on my Student Loan that is currently outstanding. It currently stands at a negligible amount of around £500.

I have emigrated from the UK, and have no intention of ever coming back (at least not until I am retired).

The SLC keep sending me these income assessment forms, which I continue to ignore.

So I have a couple of questions, as I have no intention of ever repaying the full amount.

1. Would the SLC accept a potential offer of, say, 100 quid to write off the debt?

2. What's the worst that could happen? I get referred to a debt collector (and get sent a fake legal letter, heh) who then attempts to chase me in another continent? That would be fun.

Thoughts?

(Yes, I realise some will probably morally object to this, and it's really not the amount of money that's the issue, but rather the fact I feel ripped off having been one of the first students with these horrid loans)

always find it fun when people get refused a mortgage because of a dispute over a £20 mobile phone bill (always a matter of principle of course)

however, in your case, with 20-20 vision of the future you should be OK to ignore the matter

ahxcjb

CLAPTON wrote: »

always find it fun when people get refused a mortgage because of a dispute over a £20 mobile phone bill (always a matter of principle of course)

Yes, indeed. My credit in the UK is exemplary and I wouldn't want it ruined over a matter of 500 quid. I do wonder if the SLC even bothers referring such low amounts to debt collection? Surely they're more interested in going after those who owe thousands?

CLAPTON

ahxcjb wrote: »

Yes, indeed. My credit in the UK is exemplary and I wouldn't want it ruined over a matter of 500 quid. I do wonder if the SLC even bothers referring such low amounts to debt collection? Surely they're more interested in going after those who owe thousands?

it's not the money, it's the principle

BrassicWoman

remember they can default it, which also may affect employment in certain careers, as well as credit

ahxcjb

BrassicWoman wrote: »

remember they can default it, which also may affect employment in certain careers, as well as credit

True, but that wouldn't affect me as an expat would it, not unless I took a government position (which I can't do, as i'm not a US citizen).

I think my question really is, what's the chances they would actually bother to do all that for 500 notes? I would imagine they have millions more ahead of me in the queue; least I paid 99% of it back, unlike most who pay hardly anything.

dealer_wins

Karma will catch up with you when you least want it to!!

tomtontom

Debts can be (and in the case of SFE are) sold on to overseas collection agencies. As the collectors are paid on a 'pennies in the pound' basis, I see no reason why they would not chase £500.

ahxcjb

tomtontom wrote: »

Debts can be (and in the case of SFE are) sold on to overseas collection agencies. As the collectors are paid on a 'pennies in the pound' basis, I see no reason why they would not chase £500.

A couple of points.

1. Foreign debts can't be enforced in the US state I live - indeed I can't think of one major state that allows such practice.

2. £500 is nothing debt wise, why would a foreign collection agency purchase a debt that they have no chance of ever enforcing?

tomtontom

ahxcjb wrote: »

A couple of points.

1. Foreign debts can't be enforced in the US state I live - indeed I can't think of one major state that allows such practice.

2. £500 is nothing debt wise, why would a foreign collection agency purchase a debt that they have no chance of ever enforcing?

Because they want repeat business for larger debts? In my old NHS Trust we recouped the cost of single prescriptions from US citizens, and quite rightly so!

ahxcjb

tomtontom wrote: »

Because they want repeat business for larger debts? In my old NHS Trust we recouped the cost of single prescriptions from US citizens, and quite rightly so!

How did that work? The US citizen (should) would have had insurance which would have covered the fees as part of their annual out of network deductible.