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Student Loan 1999 and 2004-2007


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Hi, with the probability that my student loans will be sold on in the near future, I'm after a bit of advice on my position.

 

I'm self employed and have been since 2004, never earning 15000 which I believe is the threshold for repayment on my loans. I've had no statements or other correspondence from SLC since 2008 which is the year I declared bankruptcy. (I know my loan couldn't be included)

 

What I'm concerned about is the possibility that any private company can affect my credit file should they decide to pursue me for repayment. In November this year I'll once again have a 'clean' file and don't want anything to mess that up! Should I be concerned?

 

Is it true that the debt can never become statute barred? I suppose that's not really relevant as I'm not in the PAYE system. Would it be a bad idea to contact SLC to check everything's ok and they haven't been adding charges etc? Not sure what for..... maybe just to flag up that they haven't sent statements etc for 6 years. Or should I just leave well alone considering I don't earn enough to repay?

 

Thanks

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Hi Maggie, i assume that your student loans are the new style as the income threshold is 15k and your first loan was 1999.

 

New loans (Post98) cannot become statute barred i have been told. As for slc selling your loans to a DCA , i do not believe this will be the case as they have only been selling old style (pre98) loans.

 

Your loans are automatically paid from your income when you achieve the income threshold wether you want it or not, so im guessing slc are aware that you are below income levels and leaving you alone.

 

However, pre98 loans are where i have some understanding so please wait on someone like dx to better advise you on what steps you should take next. Dont worry though i don't think your now clean credit record will be damaged as you are below income threshold and any entry by them could be viewed as malicious ......i beleive .

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just about sums it up.

 

though the jungle drums have it that the remaining portfolio of new style ones will be sold off too.

 

as for the credit file etc

 

jury is out, but the new FCA guidelines comeout soon

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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