Lionel_in_Ontario

Hey all

Ok, so my bank account in the UK runs dry next week, and i'm going to close it down. So no more student loan repayments.

I called them and asked what happens, and now I have to call the SLC (and the company they sold half my debt to) up and make credit card payments every month.

I've not got much left to go, I paid off the principal a long time ago, and i'm all for not bothering and letting them chase me in a country I no longer live in. One in the eye for Blair/Brown and all that.

Anyone here chose to default? Did they come after you? What happened?

If you want to remain anon, you can PM me

Thanks

Andy

Cookie

I wouldn't default on any payment anywhere in the world You can run but you can't hide. I would also not close your UK bank account. You should leave in a minimum amount to keep it open just in case you ever go back.

We had a problem with BT before we left (ie they cut us off 1 month early and we had to be reinstated under a different account number). We only found out a few weeks ago that they did not take a final payment within 6 weeks of us leaving and we had cancelled our DD with the bank. It turns out that despite me emailing them to find out any outstanding balance (and not getting any reply), they instructed a debt collecting agency to get the money - total sum of 56 GBP.

The debt collecting agency send a letter to us ground mail which took 6 weeks to arrive. The letter stated that if we do reply within 10 days they will take action.

I immediately called BT (who don't give out a non-08** number which is premium rate from here) and paid the bill over the telephone.

I emailed a letter of complaint to BT which they replied to. I have never defaulted on any payment in my life and to say I feel furious is an understatement. We now have a black mark under our name

Cookie

PS it's not "One in the eye for Blair/Brown and all that"

It's sticking your fingers up to every decent tax payer who enabled you get your student loan in the first place :curse:

Lionel_in_Ontario

I can understand your woes with BT - I worked for them!

I was always of the understanding that Student Loans aren't treated the same way as any regular civil debt - they don't get the heavies involved, they send a load of threatening letters (and charge for them), legally they don't do much - just let the balance build and then write them off after X years.

Morally i'm not usually this kind of person - but i've paid what I was borrowed, the rest is just interest. I also think the whole student debt issue stinks - so whereas i'll stress until the cows come home if I owe the bank, I couldn't care less about SLC.

I might keep my account open, but my bank (Lloyds) like to keep sending me letters banging on about me not paying anything in. And if bank accounts back in the UK go the same way as here (which i've heard they are), then there may be a monthly fee on the horizon. Which sod's law dictates I will not have caught in time to close my account!

Andy

Lionel_in_Ontario

PS - How are you assuming i'm not a decent tax payer?

I've paid enough in taxes and NI (which I never saw the benefits from) in my life to justify an action like this, even if it did affect the taxpayer - which it doesn't, since the SLC is a private company.

Cookie

If you think you can hide in this computerised world, go ahead. Personally I don't think its worth it

Lionel_in_Ontario

Well, this is why i'm just seeing what other people's experiences have been. Even though i'm confident they have bigger fish to fry, I'll probably end up paying (since i've paid something like 80% off so far). I'm scraping together as much as I can right now for a deposit on a place - I don't really need a new monthly expense at this time sadly.

I know that i'm going to miss a payment or two, just because I have to call two companies, every single month (they can't take out of my account here, or set up a regular CC deduction).

Oh well, they could have made it easy for me.

Atlantic Xpat

[QUOTE=Lionel_in_Ontario;4637606Oh well, they could have made it easy for me.[/QUOTE]


Why? You chose to move to Canada. You took on a student loan with the full knowledge that it interest would be charged. Whether the interest is paid to a private or publically traded company as opposed to the government is irrelevent. You may believe the 'whole student debt issue stinks' but it apparently didn't stop you taking out a loan. Presumably you got the education that it funded and that has helped you emigrate to Canada. You should pay it back in full. It's the right thing to do.

What would you say to a Canadian moving to England who wanted to renege on their loan commitment?

to ontario and beyond

I've heard lots of rumours about the loan being written off if you are out of the country for a certain amount of time, but I've not yet spoken to anyone who had tested it. I have also read an article that states that the SLC will probably not chase you around the world to get back the debt but could easily take out a court order against you meaning that should you ever return to the UK you could be arrested on the spot.

It would definitely be interesting to hear from anyone who has managed to default through emmigrating

Biiiiink

I want to get to 50 - then they cancel it

Seriously though, I know someone who was traced through friendsreunited to Oz. An international search for you isn't going to be that costly or time consuming these days!

MesserMoony

I just finished a degree having taken out a student loan and will have to pay it still and I highly doubt you can hide from paying it. That's why they take 2 other contacts for you so if you do leave they can still trace you.

I was supposed to start paying my loan back this month actually but after explaining about moving and being dependant on my husband they have put it off for another year.

dbd33

In the US there's a TV ad featuring an older man who's car breaks down in the desert, he crawls along looking for help and eventually sees a payphone, he reaches out for the phone but, just before he can put his hand on it, it rings. It's the student loan company and they want their money.

I don't know about the UK but the student loan organization in the US is a client of mine. I know they do really do that. I expect all the world's student loan people attend annual conferences and discuss coming after debters in each other's jurisdictions.

Chasing people is easy and cheap and former students probably have assets now. Why would they let you go? Why wouldn't they wait and take your house?

Almost Canadian

Wot he said.

I really can't believe some people

Mountain Girl

I have a feeling they go for the person that counter signed the loan in order for you to get it in the first place.

My best friends mum counter signed mine and when I went a bit incommunicado for a while and moved around a lot, they contacted her.

I am fortunate enough to have paid them off a long time ago, but I wouldnt dream of letting any one else pick up my tab.


I wouldn't do it if I were you. What if you ever go back. BLACK LISTED BIG TIME.

Judy in Calgary

Here's some interesting bedtime reading, Andy, your post #10 in this thread [emphases mine]:
It's interesting to note your frustration level when the shoe was on the other foot.