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 SUSSEX

madmoney_2

hi there, the debt only becomes statute barred if you have not been paying it or had any contact with the dca for the complete 6 year time period, so unfortunately this means you will have to keep on paying it! how much is the apr on the debt? just a thought but if youve got a good credit history u could apply for a 0% credit card and pay it off with that, hope this helps xxx

dazzler1

hi thanks for that,

on the same loan i was sold insurance on it and i didnt need it because i was going to be self emplyed after the course can i put a claim in for that even though the loan is with a dca

thanks

nathan

jonesMUFCforever

Are you sure it was a Career development loan?

IMO you get those for being a dentist doctor or solicitor not acting.

What would you claim for?
You could try for misselling but it would be 7 years too late in my opinion.
Anything you would get back would go towards your debt - try it but don't spend any money on it as personally I don't think you will get far with your claim.

123oleary

just because you chose to be a struggling actor doesn't give you the right to ignore your debts. have you tried getting a proper job

RAS

o leary

That was unhelpful and unnecessary. Please hit the edit button and remove your post.

jonesMUFCforever

RAS wrote: »

o leary

That was unhelpful and unnecessary. Please hit the edit button and remove your post.

Why I think that point is totally relevant

LandyAndy

ejones999 wrote: »

Why I think that point is totally relevant

Totally agree. OP says 'obviously I faced unemployment'. No, obviously he faced having to earn a living like everyone else while pursuing his acting career.