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Honour Student loan - Thought i didn't Have to repay till aged 55


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Topic moved to the appropriate forum ....Student loans/SLC 

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who's is that letter from please?

 

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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  • dx100uk changed the title to Honour Student loan - Thought i didn't Have to repay till aged 55

Thank-you for the move into the correct subforum - (couldn't find student loans). 

 

Hi DX. Thank-you for your reply.

 

This is a letter from Honours Student Loans - (Link Financial Outsourcing) 

 

 

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so to date you've successfully deferred every year missing one year only in 2017/18? using the same slc form till a lapse again this year?

full history please

and have you gained access to the SLC website yet?

 

how old are you please?

 

 

 

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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Share on other sites

Sounds about right. It's a bit blurry to be honest though. 

Haven't managed to access the website as I need to now phone them to register/access. Will try phoning them in the daytime tomorrow. 

I'm 43. 

Thanks for your help DX (radio amateur?)

 

 

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da-di-da hi-hi

get that portal working - will nail both your issues

just remember Link are a DCA...

see my red txt below

don't believe a word they say..

esp the bit about the form!

 

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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Share on other sites

Honours Student Loans is one of three companies which purchased mortgage-style or fixed term student loans from the Student Loans Company in 2014. It is a trading name of Link Financial Outsourcing Ltd. In this case they are not acting as debt collectors, they own the debt.

 

"Thought i didn't Have to repay till aged 55"

 

I think you are confusing the terms of the loan agreement where there is a possibility of the loan being written off when you reach the age of 50. Where you are behind with any payments, ie you did not defer properly and there is an outstanding amount owed, it won't be written off:

 

"12.  The lender will cancel the borrower’s liability to repay the loan if the borrower—

(a)dies,

(b)is not behind on any repayments under any agreement for a student loan and—

(i)was under the age of 40 when his last agreement for a student loan was made and he reaches the age of 50 or when the last agreement for a student loan has been outstanding for not less than 25 years, whichever is the sooner, or

(ii)was aged 40 or older when his last agreement for a student loan was made and he reaches the age of 60, or

(c)if the borrower can show the lender that he gets a disability related benefit and because of his disability is permanently unfit for work."

 

https://www.legislation.gov.uk/uksi/1998/211/schedule/2/made

Edited by Will Goodfellow
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ofcourse they are acting as debt collectors...!!

 

SLC debts are no different to any other debt Link or any other Debt Buyer Own which are covered by the same Consumer credit act.

 

they are not the creditor, they are a debt buyer and cannot change or dictate anything regarding payments or the T&C's of the agreements - which is why the SLC still manage these and erudio debts on the buyers behalf.

 

 

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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Share on other sites

The debts were all sold off by 2014, the SLC no longer manage them at all. There would have been no point in selling them if they had to still manage them after the date of the sale. The purchaser can enforce the original T&Cs as they now own the debt. What makes you think that SLC still manages loans which were sold off years ago?

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:crazy: so you didn't read the letter in post 1 carefully then.....

 

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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Share on other sites

It is a bit confusing though.  SLC still administer the running of the loans applying the terms/conditions, with honour/link holding the financial interest as debt buyer.

 

I suspect that in the agreement to sell the batch of loans, part of the deal was a service contract for SLC to service the loans for x amount of time. 

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group

 

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Link were sold the debts in 2 batches in1998 , not 2014 ....and under a totally sep and differing deal to that made with Arrows in 2014.

both created hidden dodgy shill companies to finance the purchase.

 

Immediately Link (hiding behind what the gov't though were 2 sep companies)Thesis and HSL) got them, they changed the T&C's and made everyone they could get a hold of sign new agreements, issuing defaults and getting 1000's of backdoor CCJ's,

 

eventually the Gov't/FOS caught wind of it all after 10'000 of complaints and a few years and told Mr paul burdell (who reputedly made £10m's out of it all) to cease and desist and undid the changes, placing SLC back in control of the overarching administration of the deferment process. which is why we always recommend to use the SLC deferment form not ones provided by the sharks.

 

they stupidly allowed the same thing to happen again some 5yrs later with arrows and erudio when they sold the remaining old style loans off. 

 

debtors need to be very very careful of these two sharks. . it's all here to read in many many past threads.

 

 

 

 

 

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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Share on other sites
17 hours ago, dx100uk said:

eventually the Gov't/FOS caught wind of it all after 10'000 of complaints and a few years and told Mr paul burdell (who reputedly made £10m's out of it all) to cease and desist and undid the changes, placing SLC back in control of the overarching administration of the deferment process. which is why we always recommend to use the SLC deferment form not ones provided by the sharks.

 

SLC has always processed deferments for Honours Student Loans and Thesis, it was never placed "back in control" as you claim, that was part of the sales and purchase agreement when the loans were sold.

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On 09/12/2020 at 23:28, Will Goodfellow said:

The debts were all sold off by 2014,

 

On 09/12/2020 at 22:08, Will Goodfellow said:

Honours Student Loans ....purchased mortgage-style or fixed term student loans from the Student Loans Company in 2014.

.

no these debts were not

they were sold off in 1998 under a differing agreement

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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Share on other sites

Yeah, by 2014 they were all sold. Honours Trustee Limited originally bought them in 1999 not 1998 and were then transferred to Honours Student Loans in 2004. Eventually administration being transferred to Link Financial Outsourcing in 2016.

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Yours is nothing to do with. Erudio.arrows dca

 

it 's with honours/wilmslows/link dca.

 

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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Share on other sites

According to the letter from HSL, you have an outstanding balance of £588.93 which is due as you didn't correctly defer. You can pay the arrears or dispute that you owe them for whatever reason. HSL could make a money claim against you in county court if you don't sort out the arrears.

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7 hours ago, Will Goodfellow said:

Eventually administration being transferred to Link Financial Outsourcing in 2016.

 

total BS, stop making things up !

go read the bottom of the letter is post 1

(0502 16) Honours Student Loans is a trading name of Link Financial Outsourcing Limited

 

On 09/12/2020 at 20:04, Crumpet3000 said:

This is a letter from Honours Student Loans - (Link Financial Outsourcing) 

...............

 

3 hours ago, Will Goodfellow said:

HSL could make a money claim against you in county court if you don't sort out the arrears.

 

or they actually can prove they exist through failure to defer.........

 

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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Share on other sites

Why would I make stuff up, or BS as you suggest? It takes a few seconds searching to confirm what I said is true:

 

"When Honours Trustee Limited purchased the loans in 1999 it entered into a contract with the Student Loans Company to continue to manage the loans. This contract terminated in October 2004 and HTL transferred the administration of the loans to a third party administrator who serviced the loans using the trading style of Honours Student Loans (HSL). In January 2016, the administrator was changed by HTL from Capita Customer Management to Link Financial Outsourcing with the Honours Student Loan style remaining in place."

 

https://www.hsloans.co.uk/about/

 

You're trying to tell me things I already know, see post #8 where I state:

 

"Honours Student Loans...is a trading name of Link Financial Outsourcing Ltd."

 

Obviously if a money claim is made, HSL would have to provide evidence that the loan was in arrears if the claim is defended.

 

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who did you send deferment forms to - direct to SLC always?

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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