Honours Student Loans—Link Financial Outsourcing Ltd

neverthesamedaytwice

Hi All

Currently still have some outstanding student loans (old style pre-1998).

While all my loans were originally with the the Student Loans Company, two were sold some time ago to Honours Student Loans.

I've also since had by other two loans sold to Erudio—but that's another (very long) story.

All in all, I feel I've been pushed from pillar to post by these companies and have received pretty appalling service.

I have an arrangement in place to clear my debts, and from my point of view I'm meeting my commitments

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In February I was contacted by Honours Student Loans to say that my account will now be serviced by Link Financial Outsourcing Ltd —no reason was given so I did a bit of research.

I came across the following stock-exchange RNS (Regulatory News Service) bulletin…

http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/BM19/12697756.html

This memo must provide the reasoning, and this part jumped out:

NOTICE IS HEREBY GIVEN to the Noteholders that, prior to the Issuer entering into the Link Administration Agreement, Capita informed the Issuer that particular arrears notices sent to borrowers may not have been in compliance with the consumer credit legislation. A review of this matter is still underway and it is deemed probable that an amount will ultimately be repayable to certain of the affected borrowers as a result of such non-compliance.

Does anyone with more financial nous have a better handle on what this means / what the full story is?

Thanks in advance

Luke