Am I liable for my Wife's Student Loan arrears?

Lungboy

BoGoF wrote: »

And did Erudio provide the loan that will be wiped......

What's that got to do with whether the state is going to pick up the tab for the loans being wiped? Erudio purchased the loans from the government at a level the government was happy with it, after that the state has nothing to do with it.

To answer the OP's question, I think that while there are arrears on the account Erudio are within their rights to recall the entire loan, and i'm surprised they haven't as that seems to be their MO these days.

BoGoF

Any loan that gets wiped costs the Government (and therefore the taxpayer) money. When it was sold to Erudio they probably paid a fraction of what it was worth.

phillw

MrBowman wrote: »

We have contacted the CAB to make an appointment try and get some initial advice, but I am with you. I have nothing to do with the agreement or the loan, so quite why they can effectively threaten me via my Wife with sending round debt collectors to recover the arrears amount I don't know. But am I missing something here?

They can send debt collectors and collect any of her possessions. Jewelry for example.

When someone is obstinate and refuses to pay what they owe & forces them to take action, then they don't really have a choice.

Lungboy

BoGoF wrote: »

Any loan that gets wiped costs the Government (and therefore the taxpayer) money. When it was sold to Erudio they probably paid a fraction of what it was worth.

It was indeed sold for a fraction of the worth, but that's a sunk cost. Whether Erudio collect the remainder or write it off has no bearing on the state picking up the tab.

MEM62

MrBowman wrote: »

I could just pay it off, but that is not the point.

But it is the point.

Your wife is being hassled and you are having to deal with it also - all for the sake of £500 that you will have to pay eventually anyway in order to get the loan written off in due course. Pragmatism is often a friend. Is the current hassle with it just to delay the inevitable payment for a few more years? In my world the answer would be no.

Jonathan_Kelvin

Mojisola wrote: »

As your wife is already coping with health problems, why prolong the stress of being chased for the debt? You know you're going to pay it in five years time - why not do it now and put an end to the problem?

I agree with this, and think that it’s the right thing to do. Another option is that she could sell up, and release the equity that she has in our home.

If you, as a family, owe money which you borrowed then why are so set on not paying it back?

MrBowman

OK, so we have decided that we will pay back the arrears but given all the other outgoings I have at the moment, it will be bit by bit over the year. That should keep Erudio happy (ish) and we will feel better as we will know that it is being chipped away. Also it feels like they have not totally won the fight with us paying it all back now after them trying to frighten my Wife.