Stude Loans pre 98 - what the age write off rule please

[Guest]

hi

 

quick q re the 25 yr write off re such loans.

 

does it run from the last loan taken, or from the date of the first loan a/c number that all have been amalgamated into one re sale?

 

thanks

[dx100uk]

I certainly believe that the class of SLC loan stays the same even if you had the later type of loan

but started on the earlier mortgage type

 

 

I think windysock explains your question recently

 

 

i'll see if I can find it.

[Guest]

cheers

been told that they are all pre 98 loans sold off as one, under the earliest a/c number. if that makes sense

[WindySock]

Regs are the last set from those old style loans. http://www.legislation.gov.uk/uksi/1998/211/made Previous ones were repealed and those set as a replacement to apply to all the old loans. They still stand and are in force.

 

Consolidating them for admin purposes does not actually change the fact that they are still legally separate loans. Nor would it matter if it did, as it would not change the fact of when your last loan was made. That is a fact at that point in time, and cannot change.

 

BIS have stated to someone else in writing that the "was made" date is when the first instalment of your last loan was paid to you. https://www.dropbox.com/s/g4hy0besp1jh12o/BIS%20Response%20Loan%20Cancellation%20200115.rtf?dl=0

[Guest]

thanks for that windy

 

another q- if a cca request were to be done, who wld that go to (slc who still do the deferment), and wld one need to be done for each loan?

[WindySock]

Would go to the loan company that currently own the account. i.e. Erudio, Thesis Servicing or Honours Student Loans.

 

In theory as legally they are separate CCA regulated loans with a separate agreement each, you would need one per loan you took out. Could be done with one letter, but needs £1 fee for each. I've heard people being fine just sending £1 for the lot, but if it was me to cover belt and braces legally I would go for £1 each. Your call.

 

Remember though that.

 

- SLC did keep a majority of agreements. I've seen shed loads.

 

- There were only 2 agreement formats ever used, the templates for which are even available online. So as long as they know the initial address, rates from the time etc (again public record), even if originals are not available it's trivial to reconstitute an agreement good enough to satisfy a s77 CCA request

 

http://www.slc.co.uk/media/758483/pre_98_ms_credit_agreement.pdf

 

http://www.slc.co.uk/media/758487/post_98_ms_credit_agreement.pdf

 

- Even in the absence of the above, it would be a hard sell in court to claim that you were given the loan where an agreement was not signed. This is not some dodgy credit card or loan application from the 90's where they could not be bothered to get you to sign a proper agreement. These were in the very largest part done properly.

 

Despite all the above, nothing ventured nothing gained as they say.

[Guest]

cheers

 

cca request was just a side thought. the para 12 is looking good

 

just to be sure, are there any 'side/interpretative' issues re para 12 that can negate a write off. ie 12 (b) is exactly what it states?

[WindySock]

The law is as the law says.

 

The lender 'WILL' write off the loans if those conditions are met. No wriggle room.

[Guest]

cheers

 

para 12 it shall be

 

(yeah, as you posted, seems as if they wld be able to satisfy an accurate cca request)