Link chasing balance on my Thesis Servicing 98' loan: They Say I owe £2500

[cumblechook]

Today Saturday 4th December

 

Link Financial Just Called To ask about the balance on my 98' loan.

The Loan was definately applied for after July 98'.

I must have applied for it when I got into second year.

 

They Say I owe £2500.

I have heard nothing from SLC since 2004 at least.

The lady at link said that there was a £4.90 payment made within the last 6 years

when I said that I will status Bar the account.

 

 

I have never made such payment.

Have i made a mistake by even talking to them??

She confirmed my parents address where I have been looking after my late brother.

 

This is how they have traced me... here is the background.

 

My younger brother died 1 month ago and I was in charge of his affairs.

His Student loan has been waived.

I had completely forgot that I had a balance on my loan.

 

 

The SLC contacted me last week to confirm my address.

They must have seen the address from the letter I sent them with his Death Certificate.

They have not previously been in contact with me since at least 2004

and my address has changed a number of times since.

 

 

The have made attempts to contact my parents home while I have been away,

but the address the have for me now I left in 2005.

 

My question is what can I do?

 

This is a difficult time for me and my family and I don't need Link calling every 2 minutes.

The loan in question was a 1998 loan.

 

What status Barred letter can I send on Monday?

or do I wait for something to come in the post?

I have no written correspondence from them or the SLC.

 

What do I do now?

 

 

I really don't have 2.5k and I don't really earn that much.

Edited December 4, 2010 by cumblechook
Extra info

[postggj]

If this is a 1998 student loan and you have made no payments in the last six years then it will be statute barred

 

link have just bought aload of these worthless christmas crackers

 

send the statute barred template by recorded delivery and make theire christmas:-)

[cumblechook]

If this is a 1998 student loan and you have made no payments in the last six years then it will be statute barred

 

link have just bought aload of these worthless christmas crackers

 

send the statute barred template by recorded delivery and make theire christmas:-)

 

Thanks Postggj....

 

 

What do i do now?

[postggj]

ill dig out the template

 

give me 5 minutes

[postggj]

Letter sent when debt is statute barred (send recorded)

 

1 High Street,

Newtown,

Kent

R21 4RH

 

 

June 28, 2006

 

 

The Loan Company

Company House,

Church Street,

Newtown,

Kent,

R1 7HG

 

 

Dear Sir/Madam

 

Acc/Ref No 4563210025897412

 

You have contacted us regarding the account with the above reference number, which you claim is owed by ourselves.

 

We would point out that under the Limitation Act 1980 Section 5 “an action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.”

 

We would also point out that the OFT say under their Debt Collection Guidance on statute barred debt that “it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period”.

 

The last payment of this alleged debt was made over six years ago and no further acknowledgement or payment has been made since that time. Unless you can provide evidence of payment or written contact from us in the relevant period under Section 5 of the Limitation Act, we suggest that you are no longer able to take any court action against us to recover the alleged amount claimed.

 

The OFT Debt Collection Guidance states further that “continuing to press for payment after a debtor has stated that they will not be paying a debt because it is statute barred could amount to harassment contrary to CPUTR2008

 

We await your written confirmation that this matter is now closed and that no further contact will be made concerning the above account after that last letter.

 

We look forward to your reply.

 

Yours faithfully

 

 

SEND TO LINK

[Tingy]

I'm not 100% sure on this, but I think you need to check when in 1998 the loan was taken out, as I think that was the year the original act was repealled and things changed. This means that loans taken out in that year could fall under two different sets of regulations. As I say, I'm not sure, but definitely worth checking before you launch into action.

[postggj]

To true and i am aware of that but ive done seven of these so far and link have written back on each saying its closed its files

 

i believe its july 1998

[Tingy]

Hi,

 

I'm just trying to get my head round these as they're a bit different to normal loans (especially after 1998). My understanding is that before July 1998 they are the same as any other CCA agreement, but thereafter never become statue barred, but payments can start and stop depending on your salary and employment status. You've obviously dealt with quite a few of these, so just want to check whether I'm right or not?

 

Thanks!

 

By the way, tried to pm you with this, but it wouldn't let me as it says your mailbox is full - just so you know!

[postggj]

After july 1998, any student loan does not become statute barred as you just defer the loan

 

before july 1998, it was just a standard cca agreement

[Tingy]

Thanks - that's as I thought!

[cumblechook]

After july 1998, any student loan does not become statute barred as you just defer the loan

 

before july 1998, it was just a standard cca agreement

 

Oh no!!!

 

This loan must be after July 98'.

 

I have a letter from SLC reminding me that I can apply in October 98'

 

 

Should I contact the SLC on monday? to find out?

 

The lady at link never gave any references to the Loan details.

[cumblechook]

Thanks for the advice: unfortunately I have a 98/99 loan taken when my second year started in 98'

[Tingy]

Oh no!!!

 

This loan must be after July 98'.

 

I have a letter from SLC reminding me that I can apply in October 98'

 

 

Should I contact the SLC on monday? to find out?

 

The lady at link never gave any references to the Loan details.

 

Right,

Firstly I'm very sorry to hear about your family issues recently, it must have been an horrendous time for you all.

 

As regards the student loan, if it was taken out after July 1998 then it never becomes Statute Barred (though it may well be worth sending the letter suggested above in the hope that Link don't realise this). Make sure you put somewhere in the letter that you do not acknowledge the debt.

 

If it was after July as you seem to think, then it is paid back as follows:

 

http://www.student-support-saas.gov.uk/student_support/repay_loan.htm

 

In terms of any arrears owing, were you earning above these thresholds during all that time? If not, then you were not due to be repaying anyway. If so, work out what you think you owe and see if it agrees with them. If it does fine. If it doesn't and I bet it won't then they need to prove to you that you owe that much money. Leave it there for the moment and work out what you think you owe, then come back and we'll advise the next step.

[cumblechook]

Thank you for getting back to me. I was starting to panick. The grief has not yet really hit us yet, but this issue is one I don't need.

 

I will owe some arrears: For at least 2years of the last 12 I was earning over 15k and I can prove this.

 

I will send this letter to Link and I will not acknowledge the debt and hope they dont realise. Though While I was on the phone I told her that I will be sending a Status Barred letter.

 

The loan has been passed over to Link now hence them calling the family home..... Can it be passed back to the SLC? Will it be passed back to SLC?

 

I am mostly worried for my Credit rating and defaults...... I cannot afford this and I certainly cant afford 2.5k. I have checked Credit File and it has not been touched by link yet.

[Tingy]

Send the letter on Monday and see what comes back. If you're lucky they won't realise and will assume it actually is Statute Barred.

[cumblechook]

Send the letter on Monday and see what comes back. If you're lucky they won't realise and will assume it actually is Statute Barred.

 

Thank you Tingy.

 

Will need to find the references for this account and Links address. They have only called and not sent a letter yet.

Shall I await a letter? Can they access my credit file?

 

Anyways...Here is a draught of my letter for Monday. I should be greatful for any tips or ideas:

 

 

*******

*****

***

December 4, 2010

 

Link Financial

***************

*******

****

 

 

Dear Sir/Madam

 

Acc/Ref No: ***************

 

I have been contacted regarding the Student Loan account with the above reference number, which you claim is owed by me.

 

I would point out that under the Limitation Act 1980 Section 5 “an action founded on simple contract shall not be brought after the expiration of six years from the date on which the cause of action accrued.”

 

I would also point out that the OFT say under their Debt Collection Guidance on statute barred debt that “it is unfair to pursue the debt if the debtor has heard nothing from the creditor during the relevant limitation period”.

 

I do not acknowledge this debt.

 

Unless you can provide evidence of payment or written contact from me in the relevant period under Section 5 of the Limitation Act, I suggest that you are no longer able to take any court action against me to recover the alleged amount claimed. Indeed I suggest that you cease calling my parents house with regards to this affair.

 

The OFT Debt Collection Guidance states further that “continuing to press for payment after the statute barred position is acknowledged could amount to harassment contrary to CPUTR2008

 

I await your written confirmation that this matter is now closed and that no further contact will be made concerning the above account after that last telephone call and letter.

 

We look forward to your reply.

 

Yours faithfully

[Tingy]

Just re-read the entire thread. Firstly it looks a good letter to me, but I wouldn't send it yet despite my previous advice.

 

As Link have only contacted you by phone so far, they may not even know where you live. Have you told them the phone number is your parents? If not, I wouldn't. Just say it is not your phone number, so please stop calling and put everything in writing from now on should they need to contact you again. It may be they haven't even got your address.

 

I always take the approach don't talk to them on the phone full stop. If the DCA writes to you ignore their first letter totally and file it away. Respond when / if they send the second letter. This to my mind is when you would send the Statute Barred letter. Wait to see what comes back and hope they take no further action. If they do, post on here again for further advice.

[Bazooka Boo]

I see what you mean Tingy! SLC are quite prolific....

If you started your course in or after 1998, your student loan repayments will be based on your income.

If you earn less than a certain level of income - the 'repayment threshold' - you will not be required to repay anything. If you earn above the threshold, you will repay a percentage of the amount you earn over the threshold.

If you started your course before 1998, you will have a different type of student loan.

The repayment threshold for student loans, before deductions, is currently:

 

• £15,000 a year
  

 

 

This is equivalent to:

 

• £1,250 per month or
  
• £288 per week
  

 

 

If your income exceeds these amounts, you will be required to make repayments. In most cases, these repayments are collected automatically through the tax system.

Any disability-related benefits you receive will not be counted towards the £15,000 threshold, even if they are taxable. If you receive a disability-related benefit and are permanently unfit for work, you may be able to have your loan cancelled. Contact the Student Loans Company to see if this is possible.

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/RepayingStudentLoansCoursesStartingFrom1998/DG_10034866

[cumblechook]

Just re-read the entire thread. Firstly it looks a good letter to me, but I wouldn't send it yet despite my previous advice.

 

As Link have only contacted you by phone so far, they may not even know where you live. Have you told them the phone number is your parents? If not, I wouldn't. Just say it is not your phone number, so please stop calling and put everything in writing from now on should they need to contact you again. It may be they haven't even got your address.

 

I always take the approach don't talk to them on the phone full stop. If the DCA writes to you ignore their first letter totally and file it away. Respond when / if they send the second letter. This to my mind is when you would send the Statute Barred letter. Wait to see what comes back and hope they take no further action. If they do, post on here again for further advice.

 

Thanks Tingy. So I'll Wait till letters start to come then....

 

I am worried that this - in the event that I am liable for the debt - cannot be bounced back to the SLC

[cumblechook]

I live at my parents for now. But I do have a flat elsewhere. I waas here for the last 2 years looking after my brother.

 

I confirmed with the lady from Link that this is my address. The same call came from the SLC 3 days ago when they trced me from my brothers waived Loans

[Tingy]

Thanks Tingy. So I'll Wait till letters start to come then....

 

I am worried that this - in the event that I am liable for the debt - cannot be bounced back to the SLC

 

I wish I could reassure you over this, but I don't know so I'm not going to guess. Hopefully it can go back to SLC, but I honestly don't know - sorry!

[cumblechook]

I wish I could reassure you over this, but I don't know so I'm not going to guess. Hopefully it can go back to SLC, but I honestly don't know - sorry!

 

Thank you anyway......

 

I will wait till they send me written correspondence. Then I will start to reply to them with SAR

[Bazooka Boo]

Wherever Link Farcical are concerned there is never anything to be worried about, they are merely the gophers doing the dirty work for the SLC, I am pretty confident that this can be put to bed without too much trouble...

[cumblechook]

Wherever Link Farcical are concerned there is never anything to be worried about, they are merely the gophers doing the dirty work for the SLC, I am pretty confident that this can be put to bed without too much trouble...

Thanks for the confidence boost Bazooka...

 

I hope that this can be dispatched pretty quickly: I really dont need this right now...

[Undercover-Elsa]

I would have thought that if this loan was subject to the post 1998 rules it would be linked to your NI number and if so would be automatically deducted from any earnings over £15000, regardless of any change of address. This happens with my son's 1999 loan - they still send the statements to me, being the address where he originally applied from, he's changed address many times without letting them know, and is now working and at some stage the deductions automatically kicked in directly from his wage.

 

I therefore think that you may be lucky here in that it sounds more like the old style loan, if arrears have accrued..which they can't do on the later type of loan.

 

So yep, it's probably Statute Barred, but as above hang fire until they learn to do joined up writing and send you a letter...

 

Elsa x