Deferring student loan payment
Discussion
9% of everything above 15k will be deducted via PAYE. Other than that you can only defer in extenuating circumstances, IIRC. If only it were possible, as right now they are at 0%.
Post-1998 loans are written off at age 65, death or unfitness to work. Post-2006 loans are also written off after 25 years from graduation.
Post-1998 loans are written off at age 65, death or unfitness to work. Post-2006 loans are also written off after 25 years from graduation.
Got my yearly payment schedule through today. Net rate of interest: -0.40% 
Graduated in 2001 but only started paying it off a few years ago after deferring for a while. Only got £1700 per year or so in those days and the payments are fixed, not linked to salary.
Sorry to hijack the thread by the way...
Graduated in 2001 but only started paying it off a few years ago after deferring for a while. Only got £1700 per year or so in those days and the payments are fixed, not linked to salary.
Sorry to hijack the thread by the way...
When I graduated I worked for a large company and the student loan came straight out my wage as it should. About 2 years later I got my first statement (for the 1st year of payments) and it said that I have not made any contributions! But it was an 'interim' statement and it said that it may not be correct and to wait for the final statement.
When this came about 6 months later it again showed that my 1st year of payments were missing. One of my friends was in the same position and she rang the student loan company and they said something alone the lines of their computer system is all over the place and not to worry as it will be sorted soon.
Anyway, I got another job and no payments have been taken out at all for over a year. I did get a statement a few weeks back with no repayments showing and £400 interest. Wonder if I can hold out until age 65?
When this came about 6 months later it again showed that my 1st year of payments were missing. One of my friends was in the same position and she rang the student loan company and they said something alone the lines of their computer system is all over the place and not to worry as it will be sorted soon.
Anyway, I got another job and no payments have been taken out at all for over a year. I did get a statement a few weeks back with no repayments showing and £400 interest. Wonder if I can hold out until age 65?
I myself am a bit peeved by the post-98 rate not going negative. For most of the last year base rate has been in freefall but the loan rate wasn't tracking it fully. Now when it comes to the annual rate update, the rules go out the window. Luckily the SLC and tax office can't decide between them about my tax position so I have the ability to stop making voluntary payments. While the rate is zero there's no way I'm hading it over.
Anyway, I wouldn't count on bankruptcy getting the SLC off your back. Can anyone who's done it say either way?
Anyway, I wouldn't count on bankruptcy getting the SLC off your back. Can anyone who's done it say either way?
getting out of it? easy...
ask them to see the original contract set out with them, signed by you. The original, not a copy..
usually they have lost it, or sold the debt onto someone else in which case no agreement exists between you and the new people..
after they cant provide, tell them to do one..
ask them to see the original contract set out with them, signed by you. The original, not a copy..
usually they have lost it, or sold the debt onto someone else in which case no agreement exists between you and the new people..
after they cant provide, tell them to do one..
koolchris99 said:
getting out of it? easy...
ask them to see the original contract set out with them, signed by you. The original, not a copy..
usually they have lost it, or sold the debt onto someone else in which case no agreement exists between you and the new people..
after they cant provide, tell them to do one..
Thats sounds like a good idea, do you know anyone who has done it with success?ask them to see the original contract set out with them, signed by you. The original, not a copy..
usually they have lost it, or sold the debt onto someone else in which case no agreement exists between you and the new people..
after they cant provide, tell them to do one..
koolchris99 said:
getting out of it? easy...
ask them to see the original contract set out with them, signed by you. The original, not a copy..
usually they have lost it, or sold the debt onto someone else in which case no agreement exists between you and the new people..
after they cant provide, tell them to do one..
Bit of a pipe dream. They really don't need you in the loop to be honest - after all it's all collected through PAYE. You're welcome to try to take it all the way in the courts of course, but even then I'd be willing to bet a fair wodge the HMRC system will still deduct it even after a ruling from the high court ask them to see the original contract set out with them, signed by you. The original, not a copy..
usually they have lost it, or sold the debt onto someone else in which case no agreement exists between you and the new people..
after they cant provide, tell them to do one..
Lol.
0.4%. I was doing teacher training a while ago and pretty skint. SLC decided my original letter from the College saying "Mr Gedon is on £f
kall" wasn't good enough. The first thing I knew about it was when my cash machine wouldn't give me any money as SLC decided to help themselves. I phoned them up and pleaded with them to defer. "Sorry, no can do". So, I closed the bank account when they pulled another payment out (my old student account). All hell broke loose and basically, the debt was going to be sold to a debt recovery company (after a further 2 missed payments).
Bank of The Folks bailed me out.
I would advise against dealing with SLC, assuming you can't quickly get your hands on money IF they decide that your reasons for deferrment are not good enough. Be warned.
0.4% lol.
I thought I was really in the st.
0.4%. I was doing teacher training a while ago and pretty skint. SLC decided my original letter from the College saying "Mr Gedon is on £f
kall" wasn't good enough. The first thing I knew about it was when my cash machine wouldn't give me any money as SLC decided to help themselves. I phoned them up and pleaded with them to defer. "Sorry, no can do". So, I closed the bank account when they pulled another payment out (my old student account). All hell broke loose and basically, the debt was going to be sold to a debt recovery company (after a further 2 missed payments). Bank of The Folks bailed me out.
I would advise against dealing with SLC, assuming you can't quickly get your hands on money IF they decide that your reasons for deferrment are not good enough. Be warned.
0.4% lol.
I thought I was really in the st. Gassing Station | Finance | Top of Page | What's New | My Stuff