SLC Pre-98 loan debt based in New Zealand

[boknows]

Hi guys,

 

apologies if I'm not posting this in the correct forum.

 

I have loans with SLC that began in 1995. I never reached the GBP repayment limit and left the UK in 2001 to go travelling.

 

I informed SLC at the time and, whilst having returned for visits to the UK, I have been living in either Australia and now New Zealand to date. My postal address hasn't been updated from my parents address in the UK and SLC still send any correspondence to their address.

 

I have successfully deferred my loans each year, sending three or four monthly payslips and enclosing my employers details. In 2011, I got a job paying NZD72,500 so when I received that years deferment forms, it was with some trepidation that I sent them back. Strangely, my application was came back as successful and deferral granted. This was the same for 2012 (no change in income)

 

I have submitted my 2013 application and since been refused deferment. When I wrote and questioned this, I was told that neither 2011/12 loans should have been deferred, that SLC would not be backdating any payments and that I should begin repayments forthwith.

 

I am right to question this or have I just been lucky the last couple of years?

 

Any advice would be greatly appreciated

 

Cheers

[unclebulgaria67]

If you have been deferring thoughout the whole period until now, then you will have to come to a payment arrangement with SLC, based on the rules that applied.

 

The government are in the process of selling off these old loans, so at some point you will have some debt company taking over the payments. Just make sure that you fully understand the terms of the old SLC scheme, as I expect that the debt company taking over the debt, will try to get you to pay more than is required.

[boknows]

ub67,

 

thanks for the prompt reply to my post, it is much appreciated.

 

So I was just lucky with the two previous deferment applications? Is it just a question of once you earn more than GBP28,775 or do SLC have a formula for dealing with difference in exchange rates/foreign cost of living etc.

 

I'm surprised that they would accept the last two deferrals then deny this one if nothing had changed?

 

In regards to payments, my understanding is that if you have 5 or more loans, your total amount owing is divided by 84 to calculate your monthly repayment amount. Is this accurate?

 

Cheers

[unclebulgaria67]

ub67,

 

thanks for the prompt reply to my post, it is much appreciated.

 

So I was just lucky with the two previous deferment applications? Is it just a question of once you earn more than GBP28,775 or do SLC have a formula for dealing with difference in exchange rates/foreign cost of living etc.

 

I'm surprised that they would accept the last two deferrals then deny this one if nothing had changed?

 

In regards to payments, my understanding is that if you have 5 or more loans, your total amount owing is divided by 84 to calculate your monthly repayment amount. Is this accurate?

 

Cheers

 

You will have to take this up with the SLC. The info is in this link

 

http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3867002&_dad=portal&_schema=PORTAL

 

Best to sort it out with SLC, before they stop answering correspondence. When the debt company ( Arrow Global I think) take over, it might become painful to resolve.