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Student Loan & Link Financial Outsourcing

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Dear all


I've been happily paying off my 3 student loans for a number of years. I have 3 seperate standing orders which leave my bank account on the 1st of each month without fail . The SOs all have the loan account number as the reference.


I've today had a call from Link Financial Outsourcing (they've left several messages with a reference number but no company name so had been assuming they were a [problem]. Now kinda wished I'd continued ignoring them).


Apparently in 2008 one loan account was sold to Thesis who then passed it on to Link Financial. I wasn't aware of any of this. I'll admit to not being particularly good at updating the Student Loans Company as to my address but I have spoken to them on the phone.


The SLC has been receiving my 3 SOs but have allocated the extra payments to the 2 loans still with them & consequently I haven't made any payment to the third loan since 2008 (despite the agreed amount leaving my account every month). Anyway, Link have demanded repayment of the full amount (which is just over £1,000) which I cannot afford to do. I was quite happy to discuss monthly repayments bt this option was declined & they have given me 1 week to pay up or face court action.


At one point the lady suggested that as I was employed I access finance to pay off the loan - I don't think it's legal for them to suggest this?


Can I insist on monthly payments? Sorry if I appear naive, a little frightened by their threatening stance & worried about the consequences. More than happy to pay off the debt over a year.

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Ok, not your error. Take absolutely no notice of Links' 'lady' I do hesitate using that term:wink:.


As you probably know by now the general advice on the site is not to telephone these people, they lie, threaten and generally just behave badly. Keep everything in writing from now on..


First things first, send them the 'prove it' letter.


I would report this 'person' and her advice to OFT and Trading Standards here: http://www.consumerdirect.gov.uk/contact as you rightly say suggested you obtain more borrowing is a definite no no.


Link can 'demand' what they like, they have no legal rights over your income and the fact that you have been paying is a big plus should they threaten legal action.


I would stop paying the third payment to SLC but, ask for them to confirm in writing what has happened with regards to the 3 accounts you were paying. You need written confirmation to confirm as to where these payments were directed.


You can 'insist' that you make payments in any way that suits you.

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Thank you so much for your reply. I'm so cross - having paid regularly for 2 years then to be told it's all my fault & I'll be taken to court.


Was scared yesterday, now I'm furious. One thing - they don't currently have my address - as you advise, all correspondence must be in writing. Is there any harm / danger it letting them have the up to date address?

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