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Old student loan advice please

(4 Posts)
chocolatespiders Tue 11-Oct-16 20:57:14

A company who have bought the debt just rang me about a student loan I took out in 1994 the total is around 3 to 4000 and they're asking for repayments. I'm currently a single parent working 36 hours a week and earn approximately 19000 year I told them that at the moment I wasn't in position to make any repayments due to a low income and 2 children to support. I told her that I thought I was below the threshold to make the repayments and I was told that I have to defer every year. This loan was taken out over 20 years ago and I've never applied for it to be deferred in the past.
Please has anyone got any advice

biscuitkumquat Tue 11-Oct-16 21:04:36

A student loan is a debt under statute. Which essentially means that if there has been no contact (letters, payments made etc) in 6 years, then the debt becomes Statute Barred, and cannot be enforced through the courts.

However, you need to bear in mind that if it's a new style student loan, HMRC can simply deduct the money from your PAYE without having to go to court.

biscuitkumquat Tue 11-Oct-16 21:05:46

I would give the National Debtline a call in the morning: 0808 808 4000

BusStopBetty Tue 11-Oct-16 21:15:45

You do have to defer every year if it's one of the old mortgage style loans. They possibly didn't have any contact or bank details for you and left it until the debt was sold on?

They don't get written off, even if you get made bankrupt, I don't think. (However they do get written off if they're not repaid within so many years.)

Get a deferment form and fill it in and send it back to them ASAP, either by recorded delivery or email. You'll need to send evidence of your last three months of payslips or a letter from your employer with those details.

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