Student loans / NCO debt collectors

[salwin1978]

Hi

Could anyone advise me on my problems with student loans company please?

I took out 3 loans with them while at Uni, 1997, 98, 99. I thought I defered them in 2001 while not working, and when I moved , I lost contact with the student loans company, but I thought as I was earning much lower than the amount required to start paying them back, I didnt bother contacting them.

 

But, my loans were not defered, and I recently recieved a letter from NCO Europe demanding payment, and saying I had missed every payment simce 2001.

 

I started paying £50 a month, and have done so for about 18 months, but ive realised I simply cannot afford it, my outgoings are £400 more than my income per month, and thats just basic living, (supporting wife and 2 kids).

 

So I have written to them, asking to pay only £10 a month, which they have point blank refused, I have been told that the student laons CO will take me to court for it instead.

Am I right in thinking this would probably only result in the court agreeing I can only afford to make a token payment, and also freeze the interest?

 

I should be able to defer the payments, but I have been told that this is not possible because there is a large outstanding balance of missed payments, but I was not aware of this. Although I am aware it is my resposibilty to tell them of new addresses etc.

 

Any advice from anyone on what I should do?

 

thanks:-(

[breadline]

HI Salwin

Welcome to the site.

If you type student Loan into the search section just above your thread you will see many peoples experience with student loan companys.

 

We will give advice and help newbies as much as possible but there is also alot of information already around the board. If the information is browsed you will gain more information by reading them all.

 

BL:)

[Giveitback]

if you're still here, check out reclaiming any charges that they've leived on your account. Should be a wee help.

[noomill060]

Took SLC to Court, they caved in and made an offer of settlement today.

 

noomill v Student Loan Company