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    • minnemouse25
    • By minnemouse25 11th Jul 17, 3:50 PM
    • 1Posts
    • 0Thanks
    Student Loans 1995-1999
    • #1
    • 11th Jul 17, 3:50 PM
    Student Loans 1995-1999 11th Jul 17 at 3:50 PM
    I know this topic has been extensively discussed before and also elsewhere on line but I can't find any information relevant to my specific problem here!

    I have 4 students loans taken out when I was at university from 1995 to 1999. The loans were originally with the Student Loan Company but were transferred to a private organisation, Honours Student Loans at some point in the late 1990s. I have nothing to do with the newer scheme which is managed by the government and repayments made via PAYE

    I am required to repay my student loan when my monthly salary exceeds a set threshold and up until this year my salary has not met that threshold. However I am now living in Spain and my income is variable which means some months I don't meet the threshold, but other months I earn more than the threshold. In order to qualify for deferment I have to supply 3 months payslips (consecutive) and this I am unable to do to show salary below the threshold. I am over the threshold by about 100 each time. And yet other months I can earn nothing at all so my salary for one particular month may need to support me and my family for two months or more

    To cut a long story short we are a single income family who have to survive on only what I earn. Some months this is below the repayment threshold, others it is above but the hard fact is that after I have paid our mortgage, bills, and other loans outstanding from the UK there is simply no money left to pay off my old student loan at the 220 a month they are asking for. I have tried to explain this to them but they don't take into account my other financial commitments and simply say I have to make the repayments as I cannot prove that for 3 consecutive months I do not reach the threshold

    They are aware of my address in Spain as I told them (I was intending to continue deferring repayments) - so my question now is whether anyone has ever experienced anything similar? Can they take legal action against me to pursue the money given that I am not in the UK and am a permanent resident abroad? At the moment they are sending me letters to ask them to get in touch with them again before they "apply action" to my account. The money I earn by the way is from a UK company that I work for from home remotely and hence goes into a UK bank account. Can they "arrest" this bank account if I continue to not repay the loan? I believe that is the correct term!

    I just wondered what official advice on this would be, given that the loans are being administered with a private company and not the PAYE government based system that more recent graduates are on

    Thank you in advance!
Page 1
    • zippygeorgeandben
    • By zippygeorgeandben 11th Jul 17, 6:27 PM
    • 845 Posts
    • 1,099 Thanks
    • #2
    • 11th Jul 17, 6:27 PM
    • #2
    • 11th Jul 17, 6:27 PM
    Can you not get a letter from an employer which states your annual salary is not more than 21k? I might be wrong but I also thought there was a thing where a letter could be sent saying you wouldn't reach the threshold for the following three months? Is there a chance it would be over 21k over the year because if so, then I guess you have to pay it back.
    Actually, why should the SLC take into account your other financial commitments. You're a home owner, something many people are waiting to still declare.
    End Sep 2016 End May 2018
    8236.57 0
    (Tesco 4.8%) 0pcm
    6185.75 0 (Zopa 4.0%) 0pcm

    490.04 (Sainsburys 0% until 06/19) 140pcm
    2000.00 133.38 (Sister 0%) 133.33pcm

    Total debt
    19.766.82 623.42 Original DFD May 2019.
    • Lungboy
    • By Lungboy 12th Jul 17, 6:56 AM
    • 1,411 Posts
    • 1,363 Thanks
    • #3
    • 12th Jul 17, 6:56 AM
    • #3
    • 12th Jul 17, 6:56 AM
    Yes they can chase you in Spain for the debt. If your 3 payslips show an unrealistic amount for the year then just send your p60.
    • becoming an old git
    • By becoming an old git 12th Jul 17, 7:16 PM
    • 2 Posts
    • 0 Thanks
    becoming an old git
    • #4
    • 12th Jul 17, 7:16 PM
    • #4
    • 12th Jul 17, 7:16 PM
    I paid off my son's student loan in 2007. It was 16,000. He now lives permanently in Scandinavia and I understand he's now immune! Oh well it's what parents do
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