Is my VERY OLD student loan still active?

elvisisalive100

I finished university in june 1997 with a lot of loans from the student loan company. I contacted them in 1999 with my new address. I then moved and have never contacted them since. Is the loan still active? I have a very low income and would be unable to pay anything anyway. If I ever owned a property, would they be allowed to seize it. Thank you.

jayII

See here: http://www.moneysavingexpert.com/news/loans/2015/10/erudio-customer-heres-what-you-need-to-know-about-paying-off-your-loan

sourcrates

elvisisalive100 wrote: »

If I ever owned a property, would they be allowed to seize it. Thank you.

See the link provided above for you.

Student loan debts are not secured on anything.

A creditor would need to go through a whole legal process in order for the above to happen, first take you to court and win, obtain a charging order, then an order for sale.

None of this usually happens with student loan debt.

Please read the above link for more information.

Lungboy

If you've really had no contact at all since 1999 then it's still active but likely statute barred.

eskimo26

Lungboy wrote: »

If you've really had no contact at all since 1999 then it's still active but likely statute barred.

Can student loan debt be statute barred?!

Ed-1

eskimo26 wrote: »

Can student loan debt be statute barred?!

Pre-1998 mortgage-style student loan debt can (as it is covered under Consumer Credit legislation). Post-1998 income-contingent student loan debt can't.

elvisisalive100

It is difficult to understand the information in the link. These are my circumstances:
1- I am disabled and will never be able to work
2- I have not in contact with the student loan company since 1999 (my loans were taken out up to 1997)
3- My income is well below the average wage.
4- In the future I might have the opportunity to purchase my council home (it is in a very cheap area).


I need to know if the Student Loan Company could affix the debt to my potential future home.
Thank you in advance everyone.

elvisisalive100

Before I am became disabled, I earned what I believe is below the threshold for repayments. However I was never in contact with the Student Loan Company. I am also concerned if I purchase my council property and let out a room, the company could come after me for repayments.

Richey_

Nicetohaveyou wrote: »

I think it doesn't matter when you took the student loan. It is still active. Check articles from U.S. Department of Education Blog "Student Loan Forgiveness (and Other Ways the Government Can Help You Repay Your Loans)"

Ha ha ha somebody is on a windup !!!

:T. :T. :T

rtho782

elvisisalive100 wrote: »

It is difficult to understand the information in the link. These are my circumstances:
1- I am disabled and will never be able to work
2- I have not in contact with the student loan company since 1999 (my loans were taken out up to 1997)
3- My income is well below the average wage.
4- In the future I might have the opportunity to purchase my council home (it is in a very cheap area).


I need to know if the Student Loan Company could affix the debt to my potential future home.
Thank you in advance everyone.

The loan will now be owned by Erudio which is a private company, not the Student Loans Company.

As you haven't deferred the loan since 1999, or been in any contact with them, there are two possibilities:

1) They did nothing and the loan might be statute barred. You still owe the money but they can't do much to enforce it.

2) They took out a CCJ on you years ago, at your last known address as you refused to contact them. CCJs do not become statute barred, and as such they could find you later and the debt could potentially be attached to your house.

iolanthe07

Nicetohaveyou wrote: »

I think it doesn't matter when you took the student loan. It is still active. Check articles from U.S. Department of Education Blog "Student Loan Forgiveness (and Other Ways the Government Can Help You Repay Your Loans)"

I think you've accidentally wandered across The Pond. This is a UK site, but thanks for joining in.