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    Student Finance debts are to be sold. There are many, many students who are 10s of thousands of pounds in debt and already feel we didn`t get value from our uni courses. How will we feel when the heavy hand of venture capitalists start making life very difficult
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    (Original post by sweyn)
    Student Finance debts are to be sold. There are many, many students who are 10s of thousands of pounds in debt and already feel we didn`t get value from our uni courses. How will we feel when the heavy hand of venture capitalists start making life very difficult
    I don't think things will change for the students themselves, it is just the government exchanging long term money for short term money.
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    (Original post by sweyn)
    Student Finance debts are to be sold. There are many, many students who are 10s of thousands of pounds in debt and already feel we didn`t get value from our uni courses. How will we feel when the heavy hand of venture capitalists start making life very difficult
    So what? The companies aren't going to start telling students to repay hundreds of pounds a month, things will relatively stay the same for the students The government needs money, companies are willing to give it to them. The worst that will happen is that the monthly repayments slightly rise, which realistically isn't going to be an issue.
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    The last lot of student debt that was sold changed the ball game completely. Former students found their credit ratings trashed. they were unable to obtain finance or mortgages.
    These debts are not going to go away. Some airhead people are saying don`t bother ,you can always ignore these debts. Well you can`t Every year I receive a statement from Student Finance. I, along with many of my friends, are not covering the interest. Consequently, the debt is increasing.
    You also ignore the fact that many students feel that they did not receive value form their investment at Uni. How will anyone in the current system with potential debts of £60,000 ever repay their debts.
    Salaries are falling, a recent study states that anyone born after 1980 is highly unlikely to earn more than their father. Resentment is increasing and the fault is not the governments
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    (Original post by Glassapple)
    So what? The companies aren't going to start telling students to repay hundreds of pounds a month, things will relatively stay the same for the students The government needs money, companies are willing to give it to them. The worst that will happen is that the monthly repayments slightly rise, which realistically isn't going to be an issue.
    They can't change the terms of the loan lol


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    The terms of all student loans have been constantly changed over the years. Fact
    HMRC often make a dogs breakfast of repayments and there have been factual reports in the press by 2 medical students whose whole year`s repayments were not deducted from their debts. There are other examples and this is clearly the tip of the iceberg. What chance will the formers students have with "Vampire Squid" financial companies whose tactics include trashing their credit ratings.
    Students who are many 10s of thousands of pounds in debt and already resentful are going to be pushed over the edge.
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    I find this whole 'people feel they didn't get value from their course' point so ridiculous. If I took out a loan to buy a car and then said actually I don't think the car is as good as I thought no one would have sympathy for me that I have to pay back the loan plus interest


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    (Original post by sweyn)
    The terms of all student loans have been constantly changed over the years. Fact
    HMRC often make a dogs breakfast of repayments and there have been factual reports in the press by 2 medical students whose whole year`s repayments were not deducted from their debts. There are other examples and this is clearly the tip of the iceberg. What chance will the formers students have with "Vampire Squid" financial companies whose tactics include trashing their credit ratings.
    Students who are many 10s of thousands of pounds in debt and already resentful are going to be pushed over the edge.
    I'll say it again if you take a loan out on certain terms......

    Those terms can't change.

    They only change for new students.


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    (Original post by sweyn)
    You also ignore the fact that many students feel that they did not receive value form their investment at Uni.
    Nobody's ignoring it, they simply don't care.

    You chose to go there. If you don't like it it's your fault for not choosing correctly.
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    (Original post by sweyn)
    Student Finance debts are to be sold. There are many, many students who are 10s of thousands of pounds in debt and already feel we didn`t get value from our uni courses. How will we feel when the heavy hand of venture capitalists start making life very difficult
    It doesn't make any material difference who owns the debt - the terms of the loan aren't going to suddenly change or anything. The debt is owed and has to be repaid in line with the loan agreement - it's just going to a different creditor. Debts are factored all the time.
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    There are other threads on this site expressing similar concerns.
    If Unis wanted some meaningful feedback from their former clients then they should engage them 3 or 4 years after they have left. When undergraduates are at uni, they are under pressure to the point of intimidation. There is a growing realisation that many students were completely ripped-off by the system.
    This generation are trapped in debt and low salaries with little prospect of home ownership
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    Key question though, does this or does this not mean the terms of repayments etc. are changing? If it DOES, then that's illegal and there ought to be a court case in the works over this, if it DOESN'T then this is kind of an irrelevant point.
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    (Original post by limetang)
    Key question though, does this or does this not mean the terms of repayments etc. are changing? If it DOES, then that's illegal and there ought to be a court case in the works over this, if it DOESN'T then this is kind of an irrelevant point.
    It doesn't and therefore it's irrelevant


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    I love how people talk about concerns being raised, while promoting these "concerns" themselves by distributing scaremongering rubbish. This makes absolutely no difference to the terms and conditions of the loan, and the loan repayment will continue entirely as before - administered by the Student Loans Company.
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    (Original post by Drewski)
    Nobody's ignoring it, they simply don't care.

    You chose to go there. If you don't like it it's your fault for not choosing correctly.
    You are absolutely 100% correct. THE UNIS SIMPLY DON`T CARE. The salaries of vice chancellors have once again been highlighted, £300,000 £400,00 largely funded by students fees. No wonder there is so much debt and resentment. Neil Gorman paid himself £623,000 in one year when I was attending this uni.
    Debts are spiralling ,as are self harm and suicide rates at unis!!!
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    (Original post by paul514)
    They can't change the terms of the loan lol


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    tell that to Natwest, lol.

    anyway they can and will and when debt collectors and bailifs come at your door you will have to pay legal fees to fight it. Legal fees which you will be unlikely to afford and if you could afford would have already been taken out your wages to repay the loan to the point where you did not owe that much anymore.

    Big companies work on the basis of legal power they have whole departments ready to fight you tooth and nail its their job and they are already on the payroll. if you want to fight them you have to pay your legal fees and will be liable for their legal fees should you lose.

    it will likely cost you tens of thousands on legal fees to fight. and should you lose you will owe all their legal fees. which will likely be accounted to £100s of thousands of pounds.

    losing will mean a court order will forcibly take any non essential money out of your salary. That means you will be allowed enough money from your income for food Housing and transport and the rest of your life everything else will be taken forcibly from your wages until that debt is paid.

    this is why very few people take on the big banks or loan companies, I have been screwed and had thousands of pounds stolen from me by Natwest I just have to take it their is nothing that can be done because if I fight it I may end up losing and been basically a debt slave for the rest of my life.

    people realize this pretty quickly.

    However if the Conservative government was to put students in this situation it would likely ruin their party and Theresa may is not stupid enough to let something like that happen.

    So the contract when and if they sell the debt will specifically stipulate limits on what changes can be done.

    Governments can take on the banks if banks tell you to pay them £5000 and suck their cocks you pretty much just have to say how hard do you want me to suck.

    Its the brutal reality of the world.

    Government has a bottomless pit fiat currency they wont fight the government.
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    You paint a very pretty picture of the world. If the BBC are chasing their debtors through a third agency , using pretty unsavoury tactics, then there is an outcry and something is done about it but not before ordinary citizens are hurt.
    Fee paying students entered into a contract with the Universities they attended. Unfortunately, many of the unis proved to be little more than con-artists. There is a growing number of former students who are realising that they were duped. Their debts are increasing and so the baliffs are going to come knocking. Who is going to stand up for the former students?
    Clearly some people seem to think this outcome is all very amusing. Perhaps these people have well paid jobs with lots of holidays and amazingly good pensions. Strange sense of humour!
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    (Original post by Luke7456)
    tell that to Natwest, lol.

    anyway they can and will and when debt collectors and bailifs come at your door you will have to pay legal fees to fight it. Legal fees which you will be unlikely to afford and if you could afford would have already been taken out your wages to repay the loan to the point where you did not owe that much anymore.

    Big companies work on the basis of legal power they have whole departments ready to fight you tooth and nail its their job and they are already on the payroll. if you want to fight them you have to pay your legal fees and will be liable for their legal fees should you lose.

    it will likely cost you tens of thousands on legal fees to fight. and should you lose you will owe all their legal fees. which will likely be accounted to £100s of thousands of pounds.

    losing will mean a court order will forcibly take any non essential money out of your salary. That means you will be allowed enough money from your income for food Housing and transport and the rest of your life everything else will be taken forcibly from your wages until that debt is paid.

    this is why very few people take on the big banks or loan companies, I have been screwed and had thousands of pounds stolen from me by Natwest I just have to take it their is nothing that can be done because if I fight it I may end up losing and been basically a debt slave for the rest of my life.

    people realize this pretty quickly.

    However if the Conservative government was to put students in this situation it would likely ruin their party and Theresa may is not stupid enough to let something like that happen.

    So the contract when and if they sell the debt will specifically stipulate limits on what changes can be done.

    Governments can take on the banks if banks tell you to pay them £5000 and suck their cocks you pretty much just have to say how hard do you want me to suck.

    Its the brutal reality of the world.

    Government has a bottomless pit fiat currency they wont fight the government.
    What a remarkably depressing and misleading story you tell. I'll clear up a few things for you and anyone else reading this.

    1. Entering into a legal battle with a bank over unpaid debt is very unlikely to cost someone 'tens of thousands' unless you're retaining a legal team from a magic circle firm (who rarely represent private individuals anyway).

    2. A bank's legal fees in the aforementioned legal battle will not cost hundreds of thousands of pounds. If an average joe sues a bank they'll use a high street solicitor who the magic circle solicitors representing the bank would eat alive very quickly. Courts also limit the amount of fees that can be placed on the losing party, there's no way they'd allow a big bank to demand fees of hundreds of thousands of pounds to an average person.

    3. A bank cannot change the terms of a loan without you agreeing that they can change the terms of the loan beforehand.

    4. The government don't have a bottomless bit of currency. Just because we have fiat currency that doesn't make it bottomless. Printing more bank notes doesn't make the government richer


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    (Original post by paul514)
    They can't change the terms of the loan lol


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    Huh... They already have once.

    http://www.moneysavingexpert.com/new...presenting-you
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    (Original post by Underscore__)
    What a remarkably depressing and misleading story you tell. I'll clear up a few things for you and anyone else reading this.

    1. Entering into a legal battle with a bank over unpaid debt is very unlikely to cost someone 'tens of thousands' unless you're retaining a legal team from a magic circle firm (who rarely represent private individuals anyway).

    2. A bank's legal fees in the aforementioned legal battle will not cost hundreds of thousands of pounds. If an average joe sues a bank they'll use a high street solicitor who the magic circle solicitors representing the bank would eat alive very quickly. Courts also limit the amount of fees that can be placed on the losing party, there's no way they'd allow a big bank to demand fees of hundreds of thousands of pounds to an average person.

    3. A bank cannot change the terms of a loan without you agreeing that they can change the terms of the loan beforehand.

    4. The government don't have a bottomless bit of currency. Just because we have fiat currency that doesn't make it bottomless. Printing more bank notes doesn't make the government richer


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    1. I am guessing at the figures but I highly doubt it would be less then a grand probably a few grand.
    2. Exactly the average man does not stand a chance against these guys. Maybe not for hundreds of thousands in legal fees but at best the average joe would spend hundreds in legal fees.

    Note though A rapist got something like 3 months because his family were rich and could afford magic circle Lawyers as you put. Where as some people get five years for smoking pot or petty vandalism. Heck if I got in a fight with that rich Rapist, lets say I go to defend the next girl when he is in the process of attempting a rape I punch him and knock him out he falls and breaks his arm. His magic Circle Lawyers would have me doing 15 years to life and you know it.

    in fact they wouldn't even need a reason they could invent one eg the guy could decide He doesn't like me and have some Magic Circle lawyers come up with BS and I could be doing life before I know it.

    They can say if you continue to bank with us here are the change of terms if your over drawn or owe them money the only way out is to find someone else to transfer the debt to not something that can always be assured.

    point 4, well yeah the currency gets devalued etc but so does everyone else's we are something like £1.8 trillion in debt and it is increasing all the time not only do we have very little hope of ever paying that off, we have very little hope of ever getting to a point where we are not running at a deficit for any significant period of time.

    You really think adding another 30-40 Billion to our debt is a story it isn't its effectively nonsense magic numbers at this point.
 
 
 
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