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Govt sells old style SLC loans to Erudio [Arrow global DCA]


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Just seen an announcement that the Government is to sell off £900 million of Student Loans to the private sector

for COLLECTION, it will be to the London Stock Market.

 

Worth watching where this leads I think.

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Yes some will be, if there has been no repayment for the relevant period or the student has not provided some form of deferral agreement.

 

This is going to be extremely messy.

We could do with some help from you.

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Was there not some talk that these debts could not be SB.

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old ones could be

news ones 'could' be

 

god I hope its not LINK.

 

but I sadly bet it is THESIS.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I possibly imagine a new DCA coming to light on this one... lol

 

Anyway my money is on either Lowell Group or Hoist Portfolio... Messy.... This is an understatement!

 

We could do with some help from you.

 

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**Fko-Filee**

Receptaculum Ignis

 

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After the last sell off I was harrassed for months by Link despite the fact that my loans had been deferred for 3 years as I was disabled AND written off a year before when I hit 50.

 

I'm anticipating more of the same this time around.

RMW

"If you want my parking space, please take my disability" Common car park sign in France.

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£900 Million possibly otld and 'new' but personally I can't envisage one company or group taking it all on.

 

May be a consortium of the well known dregs of the business might be a possibility.

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Good morning all,

Well brace yourself for an influx of new student /ex student caggers ! .

 

One of many questions what DCA is big enough to handle this ?

Or will it be multiple DCAs ?

Why sell this debt off at all ?

Why the govt who willingly spy on its citizens and probably know what you had for breakfast who could easily track the errant students down , cannot handle this themselves .

 

Methinks pockets have been filled and palms greased .

 

Interesting times .

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My guess is a consortium set up the value is far to high for a single entity to take on.

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£160million 'mortgage' style loans already sold to unnamed buyer.

 

Govt, drawing up plans to sell ALL SL debts.

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We could do with some help from you.

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Mass fishing exercise imminent

CAG has helped me so much since I joined. Based on what I have learnt from others on here and my own experiences, I try to chip in and help others from time to time. I am not an expert and give my opinion only. Always check with the more experienced CAG members before making important decisions.

:-)

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Arrow are 29.1% owned by RBS.

 

I suspect when you work out where the money has come from to buy these debts, that it is come from the same old sources.

 

Murky world out there.

 

Perhaps CAG in preparation for the likely increase in threads about this, should research the exact position on these student loans. Then set up a new folder for student loan debts, with a sticky which details the legal position on these debts, what people should do if they receive a letter etc.

We could do with some help from you.

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I had a loan for the years 1998 to 2001 when I returned to university. Unfortunately due to my disability I had to stop work in 2009 and go onto Pension Credit. I think the balance is about £8000? I am 65 next year so no idea if they try and harass me.

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That means Fredrikson & Lowell too would think and Carter as the ''bully boy''.

 

Happy Christmas !!:mad2:

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Couple of questions as I have a student loan dating to the mid noughties and have never been in receipt of enough earned income to pay anything back yet. I have a disability that limits me to part-time work, minimum wage, and other health conditions:

 

1. Can the DCA change the 'terms & agreement' of your loan?

2. Can they make you repay said loan even though your income, benefits excluded, is below the repayment threshold?

3. Will said loan be written off when you reach fifty, I think, correct me if I am wrong?

4. Can they make you provide proof of income even when at present you do not have to as it is done via HMRC?

 

I wouldn't think that they could do any of the above as it would breach what the student agreed to in order to take out the loan.

 

Any ideas?

 

Sorry all, getting in a panic, this news at present only applies to nineties loans doesn't it :oops:

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Will those of us who have not paid them off start getting letters from Bryan and Fred.

 

Also when these loans where owned by the government they could not be got rid of by going BR or with a DRO. Now they are owned by a DCA it should be possible to get rid.

 

I always defer mine, under the old rules I think they would be written off if not paid by the time I was 65 (would have been 50 had I finished Uni by age 40). As the terms are supposed to remain the same I guess they still will be.

 

I'm so glad they no longer have my DD details or phone number.

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1990 -1998. Plans are being made to sell off the whole student loan portfolio in the future, it is yet to be seen what strategy the 'consortium' applies to collections.

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