You could quite easily work it out from my last post, so I will just say >10k.
Student Loans Company Agressive Letter
- Thread starter FoxEye
- Start date
You could quite easily work it out from my last post, so I will just say >10k.
Permabanned
No wonder UK economy is in tatters, people like Fox make it that way.
He should have his bank accounts/assets seized and converted in order to pay off that loan...
They should also charge fees for doing all this, something like 200 pounds an hour. Maybe this will teach people.
He should have his bank accounts/assets seized and converted in order to pay off that loan...
They should also charge fees for doing all this, something like 200 pounds an hour. Maybe this will teach people.
Caporegime
- Joined
- 21 Jun 2006
- Posts
- 38,372
all your UK accounts show up on a simple credit check. as does all your loans (mortgages, credit cards, store cards), insurance applications, etc, etc.
the more advanced credit checks show them how much you have in those accounts.
Apparently they only show negative balances: ie, if you are overdrawn.
Info from Google, please correct if wrong.
Just send them the requested info.
Then sort your life out. Planning to earn £15k for the rest of your life so you don't have to pay something back (that you borrowed willingly) is just stupid.
You already failed Uni, at least do something decent with your life.
The amount you pay back is negligible.
The fact that you didn't even pass make this 10x worse. Borrowed money then squandered it.
I would have the repayment system done on results. Fail, pay it all back, sliding up to getting a 1st pay nothing back. Maybe weight it for certain subject to. Last thing you want is a generation of people taking sociology or photography because it's an easy 1st.
Current Uni generation and recent graduates are already pretty screwed.
Then sort your life out. Planning to earn £15k for the rest of your life so you don't have to pay something back (that you borrowed willingly) is just stupid.
You already failed Uni, at least do something decent with your life.
The amount you pay back is negligible.
The fact that you didn't even pass make this 10x worse. Borrowed money then squandered it.
I would have the repayment system done on results. Fail, pay it all back, sliding up to getting a 1st pay nothing back. Maybe weight it for certain subject to. Last thing you want is a generation of people taking sociology or photography because it's an easy 1st.
Current Uni generation and recent graduates are already pretty screwed.
I really don't see the issue - the rules are different for recent students, that has nothing to do with you
You've got a loan you need to make payments on when you earn X amount or receive interest above Y amount. You were making payments and suddenly stopped, it isn't unreasonable that the government then wants to check that you're not either earning undeclared income or earning significant amounts from savings/investments. If neither of those apply then you have nothing to worry about.
They don't necessarily know what income/support you have - not everyone who suddenly comes off PAYE in their 30s is able to do so because they're living with their parents. Some people do work outside the PAYE system, some people have got significant savings.
Caporegime
- Joined
- 21 Jun 2006
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- 38,372
Other institutions have a different level of access. I don't know if SLC do but SLC outsource some of their work to HMRC which has this higher level of access.
Man of Honour
Have a heart, you don't need to give him more bad news...
Although being pragmatic the answer seems fairly simple, it might seem like an unwarranted intrusion but giving your bank statements to show that your savings will not earn you >£2k in interest per year ought to put this matter to rest. Alternatively you can keep arguing about it but it's unlikely to change anything - £150 for every time they have to re-request information does sound a tad on the steep side though given it'll be a standard letter which will take a maximum of a few minutes to prepare.
This thread reminds me I need to contact student loans and see what interest I am paying. I'm going to look into borrowing the money off family, pay off the loan and pay family the interest if the rate is higher than expected.
It certainly was for the first year or two. I was told it would be around 0.5% however the rate in the first year (2007-2008) it was 4.8%
then the year after 3.8%
That added a cool ~£2000 to my loan when I wasn't earning enough to start paying any of it off!
It certainly was for the first year or two. I was told it would be around 0.5% however the rate in the first year (2007-2008) it was 4.8%
then the year after 3.8%That added a cool ~£2000 to my loan when I wasn't earning enough to start paying any of it off!
Soldato
- Joined
- 8 Mar 2007
- Posts
- 10,938
A private company, you mean like your bank is?
What exactly upset you in such a passionate manner?
He didn't read the paperwork that came with his student loan, I'm guessing.
Soldato
Unless OP has a rather serious amount of money in the bank he's not going to be paying anything, so why is he not willing to show his statements?
I love how people said they were "mis-sold" the loans.
Anyone starting uni is at the age of being able to read and understand terms and conditions.
If you didn't read them, tough ****, your own fault.
Anyone starting uni is at the age of being able to read and understand terms and conditions.
If you didn't read them, tough ****, your own fault.
Caporegime
My debt has surpassed £42k now.
edit: and I still have over 2 years to go.
What are you studying ? Just curious.
I like the judgemental nature of your post. I can guarantee that nobody wants to pay back money they owe, especially to the government. People would much rather they scrapped the debt and said "We'll let you off this time!".
