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I've Emigrated But Still Have Student Loan Repayments

I made this thread 5 years ago. I worked hard, gained experience, got better qualifications and managed to get a good paying Job. I got all of my medical bills paid off, reconciled my issues with my family members and have been paying off my student loan for the past two years.

Next month will be my final payment and the debt will be cleared.

I remembered making his thread and thought I would update it. I am looking forward to finally getting this monkey off my back. Ever since leaving university, you get that heavy weight of debt on your consciousness and you feel it. It is terrifying for a young man entering the adult world with a huge sum of debt and no decent paying Job. you feel like giving up.

to those in a similar situation, I wish you all good luck

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So, like, I'm living in Japan now and have no plans on going back to England ... EVER (seriously). Don't ask why, cuz it's a long story and real personal issues.

Anyway, my mum recently forwarded on a letter from the British student loans company saying I still owe them a lot of money and they are asking for my details in Japan.

I don't want to pay the loan by monthly repayments from Japan, because the transaction fees alone will increase the amount I would be sending ... coupled with the interest added on the loan ... I would be repaying much more than I borrowed in the first place. Seriously, I do not want to do that!

I know that the British system of student loans works like this, when you graduate university, if you don't earn over 15,000 GBP a year, you don't pay anything back. But, as soon as you start earning over 15,000 GBP, you start paying back a small % of your income. When I was living in England, I was either unemployed or earning measley 18,000 GBP a year ... so basically, I haven't been able to even make a dent in this loan. I have since emigrated to Japan and don't want to go back nor pay the loan back.

I read on the website, the loan gets written off completely when I turn 65. However, I do feel responsible for this loan and would like to negotiate like a one off payment to have the loan written off at a discount. Has anyone ever tried this??? I did it with a credit card debt one time, but don't know if I can do it with a student loan.

If not, I might just wait till I'm 65 years old .... seriously

Basically, I got two questions.

1. Are the British student loans company open to negotiating deals with one-off payments at a discount??

2. What happens if I just don't tell them where I am and don't pay them back, they are not going to go hunting my family??? Are they??

I ask cuz I know the American system are ruthless and don't stop till they get every last cent that you owe them. But, the British system is a little bit more flexible and understanding.

Thanks in advance

(edited 5 years ago)

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Are you serious?

What the hell? who cares if you're living in Japan, England, Kazakhstan or Antarctica? You borrowed money from the British government, and now if you are earning the right amount, you have to start paying it back. Why on earth would you think you are exempt?

Reply 3

jarasta

Ha goodluck getting away with that. The SLC isn't stupid, they have considered situations like this and many more, if they want their money back. They have their ways.

Reply 4

Draonen

What's with the people getting mad about how he "doesnt want to pay it back"? He clearly said he wants to repay it.

Posted from TSR Mobile

Reply 5

Tiger Rag

I think if you don't tell them where you are, they can find out. And hit you with a large repayment.

Reply 6

Just Josh

Original post by Draonen

What's with the people getting mad about how he "doesnt want to pay it back"? He clearly said he wants to repay it.

Posted from TSR Mobile

"I have since emigrated to Japan and don't want to go back nor pay the loan back"....

Reply 7

Strangey

Graduates moving abroad is a very common occurrence these days, student finance won't be fazed by it. They could always sue you in a civil suit in Japan, of course, or get an order to remove the money from a UK bank account. You can speak to them about making yearly payments, as opposed to monthly ones, but I don't think you'll get a discount for doing it. And of course they'll be "ruthless", you've taken tens of thousands of pounds of loan from them, of course they want it back!

PS, cheers for using such a brilliant colour for your text, OP. I had an incredible reading experience, and it didn't cause me any annoyance at all! :colone:

(edited 10 years ago)

Reply 8

PerArduaAdAstra

The Japanese criminal justice system is pretty hardcore, I wouldn't mess around if I were you. Just pay your loan back like everyone else. The amount you have to pay per month is absolutely tiny anyway.

Reply 9

rickfloss

join the yakuza op, and have no declarable income

Reply 10

Valentas

A proof that you did not read your loan agreement carefully. Once you are in red, you will stay there until some conditions are met(loan repaid or 30 years have passed)

Reply 11

paddyman4

Original post by shacle

So, like, I'm living in Japan now and have no plans on going back to England ... EVER (seriously). Don't ask why, cuz it's a long story and real personal issues.

Anyway, my mum recently forwarded on a letter from the British student loans company saying I still owe them a lot of money and they are asking for my details in Japan.

I don't want to pay the loan by monthly repayments from Japan, because the transaction fees alone will increase the amount I would be sending ... coupled with the interest added on the loan ... I would be repaying much more than I borrowed in the first place. Seriously, I do not want to do that!

I know that the British system of student loans works like this, when you graduate university, if you don't earn over 15,000 GBP a year, you don't pay anything back. But, as soon as you start earning over 15,000 GBP, you start paying back a small % of your income. When I was living in England, I was either unemployed or earning measley 18,000 GBP a year ... so basically, I haven't been able to even make a dent in this loan. I have since emigrated to Japan and don't want to go back nor pay the loan back.

I read on the website, the loan gets written off completely when I turn 65. However, I do feel responsible for this loan and would like to negotiate like a one off payment to have the loan written off at a discount. Has anyone ever tried this??? I did it with a credit card debt one time, but don't know if I can do it with a student loan.

If not, I might just wait till I'm 65 years old .... seriously

Basically, I got two questions.

1. Are the British student loans company open to negotiating deals with one-off payments at a discount??

2. What happens if I just don't tell them where I am and don't pay them back, they are not going to go hunting my family??? Are they??

I ask cuz I know the American system are ruthless and don't stop till they get every last cent that you owe them. But, the British system is a little bit more flexible and understanding.

Thanks in advance

http://www.telegraph.co.uk/finance/personalfinance/expat-money/9287346/Student-loan-could-land-you-in-court-if-you-move-overseas.html

You are not invisible, the SLC will be able to find you.

You are not going to get a discount! You've agreed to pay back the money, you have even agreed to terms which specify what will happen with regards to repayments if you move to Japan. Why would they let you off? Thousands of graduates move abroad, you're not in a special situation.

Her's an example about people who move to the EU:
http://www.bbc.co.uk/news/uk-22500989

So basically, your mum will receive some more letters, Then she'll receive a letter saying that you have defaulted and outlining the penalties associated with that. Then they will hire private investigators to find you and if they do find you you will be hit by the payments owed, the costs of tracking you down and probably some other big fines. At some point it probably becomes criminal. All the while your credit score is getting shredded because no one in the world will lend money to someone who has defaulted and run away from a massive loan.

I doubt it can be that hard to find you. If you've used your usual passport to go to Japan and then not leave, an investigator will presumably find that you are in Japan. Then presumably you have used your name for various things in Japan like opening a bank account, getting a job, etc.

(edited 10 years ago)

Reply 12

returnmigrant

Unpaid debts of this level will follow you overseas - try opening a bank account with no credit reference.

Reply 13

username1024541

I believe you can pay it back as a one off payment (at least from what I remember the woman saying who came in to explain about the system), but you'd have to pay it off all at once - I highly doubt they'd give you a 'discount', but it would mean interest wouldn't accumulate.

Reply 14

jamiep151

They will not be willing to cut a deal for a one off payment, also in your terms and conditions when you took the loan you agreed to pay it even if you emigrated.

Reply 15

balotelli12

You are nothing but a common thief.
Sadly more and more people with the same utter lack of any moral values as you are behaving like this. It is inevitable that the govt will have to make it a criminal offence. People like you make me sick. Children are dying in hospital wards because of the lack of money to fund the health service and scum like you steal from the tax payer.

Reply 16

Klix88

I had a friend who lived in Japan until recently. He was there as a university lecturerer on a work visa which was renewed every 1 or 3 years depending on his job and circumstances. He could only get a work visa renewed if he was in a job. If he'd lost his job, his visa would have been invalidated and he would've had to leave. Try getting a new job or renewing your existing work visa with a UK government body chasing you for a debt - it won't happen. Japan will turf you out of the country faster than you can blink.

You can only get a residency visa (not linked to being in employment) after you've lived in Japan on work visas for ten years, which you clearly haven't - and you won't get to, if SF start to make enquiries with the Japanese authorities. I think you need to consider whether your outstanding debt might somewhat curtail your "emigration" plans.

Reply 17

Klix88

BTW OP, props for posting the same question in the "Ask Student Finance England" section of TSR, which is actually managed by SFE staff.
http://www.thestudentroom.co.uk/showthread.php?p=44535558&highlight=

You might want to rethink that one. I doubt SFE are going to advise you on how best to defraud them.

Reply 18

youareallsquare

Original post by jarasta

Ha goodluck getting away with that. The SLC isn't stupid, they have considered situations like this and many more, if they want their money back. They have their ways.

Original post by Strangey

Original post by arson_fire

Some things to think about:

1) It`s only the outstanding amount that gets written off after 30 years. If you default then the whole amount plus interest will always be owed. When you die it will be taken from your estate. If your planning to leave your kids an inheritance then you might find the SLC take it instead to cover the loan plus legal fees plus 50 or 60 years of interest (which will be a massive amount - many times the original loan).

2) Conversly, if someone in the UK dies and leaves you an inheritance expect the SLC to move very quickly to take their cut.

3) Once you default the entire amount becomes due. If you decide/have to move back to the UK then you won`t be able to just start making payments again.

4) There is talk of selling off the student loan book. Depending on who buys the loan you could find it catches up with you wherever you are in the world.

5) Never underestimate the power of the government to change the rules to suit themselves. If enough people start emigrating to default on their loans then I would expect them to change the law to allow them to take more robust action. Hypothetically, they could make it a criminal offence to default. You then step foot in any EU country and face being extradited to the UK. Would you want to explain to an employer in 20 years time why you couldn`t fly to a business meeting in europe? Or go to your parents funeral? Extreme examples maybe, but look at the criminals who went to Spain in the 70s and 80s as there was no extradition treaty back then.

Original post by OU Student

I think if you don't tell them where you are, they can find out. And hit you with a large repayment.

Pls. a) SLC isn't the big juggernaut that you think they are. They don't have the finances to chase thousands of people around the globe. b) Even if they did chase people they would only do it if it was cost effective. No point in spending £30,000 to chase a £20,000 debt then even worse find out the guy they are chasing is totally bankrupt c) the only real way to chase people around the globe and handle the bureaucracy to stop people at airports is through Interpol and Interpol doesn't give a **** about chasing students over unsecured loans

SLC will probably make an effort seeing as OP stupidly told them he went to Japan but if OP just doggedly evades them for a couple years they are highly likely to just give up. That said if OP ever returns he is ****ed.

God speed OP. I am with OP because **** Cameron and his boyfriend Clegg with their £9,000 loans. £9,000 to sit in a room listening to some old man talk? Pure robbery.