Student Loan

Puddylove

ahxcjb wrote: »

Why would I want to give away 500 GBP if I don't have to?



If you're 'skint', it probably means you're hardly paying back anything at all. Probably only just the interest?



And I have paid it back, when taking into consideration the fact that the interest being charged is 1% above the base rate. (ie, the SLC is making a, small, profit from this loan).



Ok, 96%. Happy?

1. It's not 'giving away', but repaying what you owe.
2. 'Skint' is a relative term. They're taking enough.
3. SLC is a company with staff to pay etc; if you objected to the terms and conditions you should not have accepted them.

ahxcjb

moxter wrote: »

Did the OP really come for advice? The advice seems to have been universal ("pay it off and stop complaining") but OP doesn't seem to like what they hear?

I'm not saying that - genuinely, I'm not. I wished for insight on the potential possibility for the debt to be put into default and the chances for enforcement of that debt to be attempted overseas where I am a permanent resident.

From what i've read so far, it seems like there is no risk to just leaving it. The state I live doesn't allow foreign debts to be enforced, and I doubt any company would buy a foreign debt for such a meagre amount of money (especially when they can't add 100 quid each time just for letters like they can in the UK - http://www.nolo.com/legal-encyclopedia/massachusetts-fair-debt-collection-laws.html. Why GB doesn't copy the States in this respect, ihni).

I'm going to write to the SLC and offer them half. They can take it or leave it.

CLAPTON

ahxcjb wrote: »

I'm not saying that - genuinely, I'm not. I wished for insight on the potential possibility for the debt to be put into default and the chances for enforcement of that debt to be attempted overseas where I am a permanent resident.

From what i've read so far, it seems like there is no risk to just leaving it. The state I live doesn't allow foreign debts to be enforced, and I doubt any company would buy a foreign debt for such a meagre amount of money (especially when they can't add 100 quid each time just for letters like they can in the UK - http://www.nolo.com/legal-encyclopedia/massachusetts-fair-debt-collection-laws.html. Why GB doesn't copy the States in this respect, ihni).

I'm going to write to the SLC and offer them half. They can take it or leave it.

that's very clear


You intend stealing the money because there is no way you think you can be caught.


I use the word 'stealing' in the sense that if e.g. some-one borrowed your car promising to return it but in the event refused, many people would consider that stealing.

Herzlos

ahxcjb wrote: »

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.

So you're in the US, but not gained a US citizenship, which means you're on some sort of work visa which has an expiry on it?

In that case, what are you going to do when it expires? Renew it, or hope you've gained citizen ship?

In either case, can you really be sure the debt won't affect either of those applications in the future, considering how strict they are now? Or that you won't have to return to the UK if the application falls through, then you're stuck with a defaulted debt that you can't get out of.

If you can easily pay it, then just pay it, and you don't need to worry about it.

moxter

In all seriousness, if you're in a position where £500 is affordable, then quite aside from any moral aspect then that might be a price worth paying to avoid any anxiety over future credit ratings, not to mention the potential stress (and hassle = time = money) of letters chasing you up wherever you are. If you're on a decent wage then you'll know the value of your time and I'm sure you've got better things to be doing than wasting time replying to legalese (or arguing with do-gooders on MSE!)

ahxcjb

moxter wrote: »

In all seriousness, if you're in a position where £500 is affordable, then quite aside from any moral aspect then that might be a price worth paying to avoid any anxiety over future credit ratings, not to mention the potential stress (and hassle = time = money) of letters chasing you up wherever you are. If you're on a decent wage then you'll know the value of your time and I'm sure you've got better things to be doing than wasting time replying to legalese (or arguing with do-gooders on MSE!)

Yep, fair play to this advice as well as Herzlos's. I've called up the SLC today and paid off the balance in full.

@Herzlos: To answer your question. I have permanent residency; I can stay indefinitely, unless I commit a CIMT and am deported. I intend to apply for naturalisation within a couple of years though.

CLAPTON

ahxcjb wrote: »

Yep, fair play to this advice as well as Herzlos's. I've called up the SLC today and paid off the balance in full.

@Herzlos: To answer your question. I have permanent residency; I can stay indefinitely, unless I commit a CIMT and am deported. I intend to apply for naturalisation within a couple of years though.

oh dear

I suppose one has to acknowledge that most are law abiding not because of their moral principles but the fear of retribution.

Herzlos

ahxcjb wrote: »

@Herzlos: To answer your question. I have permanent residency; I can stay indefinitely, unless I commit a CIMT and am deported. I intend to apply for naturalisation within a couple of years though.

Ah cool, I was unaware of permanent residency; I've only been there under student and work visas for <6 months.

Glad you sorted it though.

Simon11

I got my student loan in 2007 and a few weeks later I dedicated that I didn't require it.

I wrote a cheque and gave the full amount back to student loans.

A year later, they send me a letter requesting that I pay the £4.56 interest due for the duration of the time I had the loan!

I've just ignored it, but they still waste time and money writing a letter every year, asking for payment.

I don't get why they don't write that debt off! Its more the principle, than actually paying it.

Gaz83

Simon11 wrote: »

I got my student loan in 2007 and a few weeks later I dedicated that I didn't require it.

I wrote a cheque and gave the full amount back to student loans.

A year later, they send me a letter requesting that I pay the £4.56 interest due for the duration of the time I had the loan!

I've just ignored it, but they still waste time and money writing a letter every year, asking for payment.

I don't get why they don't write that debt off! Its more the principle, than actually paying it.

The 'principle' is firmly on the side of the SLC, not with you.