Just ignoring student loans repayment requests? Watch

thisistheend
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#1
Report Thread starter 5 years ago
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OK, so I've graduated for a couple of years now and so far I have paid back the last time I checked of for a debt of £30000, just £15. I'm unlikely to exceed the repayment limit of £15000 in the next 5 years, if ever.

SLC do have my details, but for some reason, they say that it's no longer recognised by HMRC. It could be that I switched to PAYE from umbrella company, but I did that 6+months ago.

If you're wondering why if I'm so poor and wont repay anyway why I don't want to give them my details, it's because my weekly pay varies wildly from 0 to exceeding the weekly threshhold that you're supposed to pay back at. I don't want to have to wait until the end of the financial year to claim it back.

Does anything bad happen, I mean other than SLC slapping a penalty charge on £30k worth of debt I'm unlikely to ever pay back? I don't think it's criminal to just ignore them right and it doesn't affect my credit file
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balotelli12
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Yes it does and as they know where you are they can take legal action. If you graduated a couple of years ago you should be paying it back through your employer. If there is an issue with HMRC you need to sort that out too.
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thisistheend
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(Original post by balotelli12)
Yes it does and as they know where you are they can take legal action. If you graduated a couple of years ago you should be paying it back through your employer. If there is an issue with HMRC you need to sort that out too.
What legal actions specificically?

Because even if they took legal action and investigated me etc., they will find I have never earnt enough in a single year to be eligible for repayment.
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balotelli12
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You were required to comply with the terms and conditions to get the loan.
You agreed to this when you signed up.
One of these is that you let them know where you are.
Breaking the contract could end up with you being required to pay it all back now. There is also a myth that student loan debt does not affect your credit rating.
It does. If you default it definitely will and you won't get a mortgage in future for starters.
You wrongly think that your repayment is based on weekly wages.
It isn't. It is based on your annual salary.
If it is under the threshold you won't pay. If it is over you will.
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Creativehand
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Hello! I am an overseas loan borrower. I live in Spain and im paying an overpayment back to them and have been for the past 5 years now. Its almost over thank god! However theres the total loan i owe which is something like 23K GBP which im assessed on via post every year and so far I've not paid anything due to declaring either surviving on savings or through third party support being unemployed at the time. Im only ever asked to show the past three months of bank statement to them so they can see whats been coming in. Here wages are bad and im scared that if i have income in those months i must show them, that they will just take whatever they want and not take anthing else into account like how much i need to survive. If say im saving money by staying with my mum to be able to pay for lets say studies in the future and they dont see rent and basics going out, will they just gather
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doodle_333
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They will take a % of whatever you earn over the threshold. Idk what that is in Spain as it's not a direct currency conversion but based on cost of living... you don't get to decide you want to save the money for something else. Call and ask them.
(Original post by Creativehand)
Hello! I am an overseas loan borrower. I live in Spain and im paying an overpayment back to them and have been for the past 5 years now. Its almost over thank god! However theres the total loan i owe which is something like 23K GBP which im assessed on via post every year and so far I've not paid anything due to declaring either surviving on savings or through third party support being unemployed at the time. Im only ever asked to show the past three months of bank statement to them so they can see whats been coming in. Here wages are bad and im scared that if i have income in those months i must show them, that they will just take whatever they want and not take anthing else into account like how much i need to survive. If say im saving money by staying with my mum to be able to pay for lets say studies in the future and they dont see rent and basics going out, will they just gather
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Simonthegreat
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You are obliged to pay it and it will catch up with. Pentalies can be imposed and worst still you could get a record /
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Unexpectedly
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You don't want to star in Can't Pay We'll Take It Away, do you?
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Bang Outta Order
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(Original post by Unexpectedly)
You don't want to star in Can't Pay We'll Take It Away, do you?
LOL yo i love that show and shows like that. like nightmare tenants and that.
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