Career Development Loan

dazzler1

i WANTED TO ASK YOU ABOUT CAREER DEVELOPMENT LOANS. I AM A PROFF ACTOR AND I TOOK ONE OUT IN 1998 TO FUND A PLACE AT DRAMA SCHOOL IN LONDON. IT WAS FOR A TOTAL OF £8000 WHICH I STARTED PAYING AFTER MY TRAINING. i HAD TO PAY 200 POUNDS A MONTH AFTER I COMLETED MY TRAINING. OBVIOULSY BEING A FRESH OUT OF DRAMA SCHOOL ACTOR I FACED UNEMPLOYMENT SO STRUGGLED WITH THE LOAN AND EVENTUALLY IT WENT TO A COLLECTION AGENCY IN 2000 IT HAS BEEN WITH TA COLLECTION AGENCY SINCE THEN AND I AM STILL PAYING IT OFF. CAN YOU TELL MEW WHERE I STAND LEGALLY AFTER 7 YEARS IS THERE ANY WAY I CAN WIPE THE LOAN?
ANY HELP WOULD BE APPRECIATED
REGARDS
NATHAN

Butlers1982

CAN YOU TELL MEW WHERE I STAND LEGALLY AFTER 7 YEARS IS THERE ANY WAY I CAN WIPE THE LOAN?

Think your a little confussed with the "7 year rule". You have to keep paying for this loan, there is no way it can be wiped off.

You could only have a case for having it wiped, if they had failed to contact you within 7 years.

The fact that you are paying it off, doesnt mean just because you have been doing so for 7 years, it will just disapear.