Honour Student loan - Thought i didn't Have to repay till aged 55

[Crumpet3000]

Ok thanks. I have this other one from 96 and 97. Honours this time. 

Any thoughts on this?In response to your recent correspondence dated the 17th April 2020, we thank you for supplying your deferment
application form and supporting evidence for deferment. These documents have been sent to the Student Loans Company.
You will receive a letter from the Student Loans Company in the next few weeks advising you whether your application has
been successful.
However, please be advised the deferment application form you have provided is no longer valid. You will need to
complete, sign and date a new deferment application form that states the current level of deferment of £2,695.00 gross
monthly income. We have requested another deferment application form to be issued to your home address; please allow
1O-14·days for delivery .
• Upon r eceipt please complete and return this form along with your supporting evidence directly to the Student Loans
Company, PQ...Box 4033, GLASGOW, G52 4XL. If you do send your application via post we would advise you to send via
recorded delivery to guarantee receipt.
Please note under the deferment process we are able to backdate your d ~jerment up to a maximum of 3 months to
remove any arrears that may accrue whilst your application is being processed, any further arrears will remain outstanding
and payable. We request you contact our customer service advisors on the telephone number below once you have been
accepted for deferment.
For your information, the balance of the above referenced loan account is £4,320.70 of which there are arrears totalling
£588.93 . These arrears have accrued due to non-deferment since the 9th February 2020, and due to the period between
the 10th November 2017 to 9th December 2018 when your loan was not deferred and your contractual repayments have
not been maintained.
We wish to bring to your attention, that under the terms and conditions of your loan agreement you are entitled to apply
for deferment annually providing your income is below the deferment threshold. If you do not apply for deferment, you are
contractually obliged to maintain your monthly repayments until the loan is fully repaid or you have been accepted for
deferment for a further 12 months.
We appreciate that your income may be below the deferment threshold; however a new deferment application is required
for each 12 month period of deferment. Our records show that your last deferment period ended on the 9th February
2020; therefore you were fully aware of this process.
Please find enclosed a generic copy of the terms and conditions for the above referenced loans for your records.
Customer Service Officers can be contacted on 0333 003 7257 between the hours of 8:00am and 8:30pm Monday to
Thursday, 8:00am to 5:00pm on Friday and between 9:00am and 5.00pm on Saturday and will be happy to assist you
fu rther.
(0502 16) Honours Student Loans is a trading name of Link Financial Outsourcing Limited, a company registered in England, with registered number
7059696 and having its registered offi ce at Camelford House, 89 Albeit Embankment, London, SEI 7TP, which is authori sed and regulated by the
Financial Conduct Authority, to act as the administrator of the loan agreements.
Honours Trustee Limited, a company registered in England, with registered number 371600 I, having its registered office at clo Wilmington
Trust SP Servi ces (London) Limited, Third Floor, I King's Arms Yard, London, EC2R 7AF holds the legal and beneficial title to the Loans
and their related Credit Agreements.
--------

 

[AndyOrch]

Topic moved to the appropriate forum ....Student loans/SLC 

[dx100uk]

who's is that letter from please?

 

[Crumpet3000]

Thank-you for the move into the correct subforum - (couldn't find student loans). 

 

Hi DX. Thank-you for your reply.

 

This is a letter from Honours Student Loans - (Link Financial Outsourcing) 

 

 

[dx100uk]

so to date you've successfully deferred every year missing one year only in 2017/18? using the same slc form till a lapse again this year?

full history please

and have you gained access to the SLC website yet?

 

how old are you please?

 

 

 

[Crumpet3000]

Sounds about right. It's a bit blurry to be honest though. 

Haven't managed to access the website as I need to now phone them to register/access. Will try phoning them in the daytime tomorrow. 

I'm 43. 

Thanks for your help DX (radio amateur?)

 

 

[dx100uk]

da-di-da hi-hi

get that portal working - will nail both your issues

just remember Link are a DCA...

see my red txt below

don't believe a word they say..

esp the bit about the form!

 

dx

 

[Will Goodfellow]

Honours Student Loans is one of three companies which purchased mortgage-style or fixed term student loans from the Student Loans Company in 2014. It is a trading name of Link Financial Outsourcing Ltd. In this case they are not acting as debt collectors, they own the debt.

 

"Thought i didn't Have to repay till aged 55"

 

I think you are confusing the terms of the loan agreement where there is a possibility of the loan being written off when you reach the age of 50. Where you are behind with any payments, ie you did not defer properly and there is an outstanding amount owed, it won't be written off:

 

"12.  The lender will cancel the borrower’s liability to repay the loan if the borrower—

(a)dies,

(b)is not behind on any repayments under any agreement for a student loan and—

(i)was under the age of 40 when his last agreement for a student loan was made and he reaches the age of 50 or when the last agreement for a student loan has been outstanding for not less than 25 years, whichever is the sooner, or

(ii)was aged 40 or older when his last agreement for a student loan was made and he reaches the age of 60, or

(c)if the borrower can show the lender that he gets a disability related benefit and because of his disability is permanently unfit for work."

 

https://www.legislation.gov.uk/uksi/1998/211/schedule/2/made

Edited December 9, 2020 by Will Goodfellow

[dx100uk]

ofcourse they are acting as debt collectors...!!

 

SLC debts are no different to any other debt Link or any other Debt Buyer Own which are covered by the same Consumer credit act.

 

they are not the creditor, they are a debt buyer and cannot change or dictate anything regarding payments or the T&C's of the agreements - which is why the SLC still manage these and erudio debts on the buyers behalf.

 

 

[Will Goodfellow]

The debts were all sold off by 2014, the SLC no longer manage them at all.

There would have been no point in selling them if they had to still manage them after the date of the sale

. The purchaser can enforce the original T&Cs as they now own the debt.

What makes you think that SLC still manages loans which were sold off years ago?

[dx100uk]

 so you didn't read the letter in post 1 carefully then.....

 

[unclebulgaria67]

It is a bit confusing though.  SLC still administer the running of the loans applying the terms/conditions, with honour/link holding the financial interest as debt buyer.

 

I suspect that in the agreement to sell the batch of loans, part of the deal was a service contract for SLC to service the loans for x amount of time. 

[Will Goodfellow]

Yes, I read the letter, what's your point?

Mortgage-style loans are no longer administered by the SLC, they were sold and are now administered by completely separate companies to SLC.

[dx100uk]

Link were sold the debts in 2 batches in1998 , not 2014 ....and under a totally sep and differing deal to that made with Arrows in 2014.

both created hidden dodgy shill companies to finance the purchase.

 

Immediately Link (hiding behind what the gov't though were 2 sep companies)Thesis and HSL) got them, they changed the T&C's and made everyone they could get a hold of sign new agreements, issuing defaults and getting 1000's of backdoor CCJ's,

 

eventually the Gov't/FOS caught wind of it all after 10'000 of complaints and a few years and told Mr paul burdell (who reputedly made £10m's out of it all) to cease and desist and undid the changes, placing SLC back in control of the overarching administration of the deferment process. which is why we always recommend to use the SLC deferment form not ones provided by the sharks.

 

they stupidly allowed the same thing to happen again some 5yrs later with arrows and erudio when they sold the remaining old style loans off. 

 

debtors need to be very very careful of these two sharks. . it's all here to read in many many past threads.

 

 

 

 

 

[Crumpet3000]

Got through to SLC. They say that there won't be any information on my account pre-2003.

 

But possibly some correspondance? 

Should be able to log in soon. 

 

[Will Goodfellow]

SLC has always processed deferments for Honours Student Loans and Thesis, it was never placed "back in control" as you claim, that was part of the sales and purchase agreement when the loans were sold.

[dx100uk]

On 09/12/2020 at 23:28, Will Goodfellow said:

The debts were all sold off by 2014,

 

On 09/12/2020 at 22:08, Will Goodfellow said:

Honours Student Loans ....purchased mortgage-style or fixed term student loans from the Student Loans Company in 2014.

.

no these debts were not

they were sold off in 1998 under a differing agreement

[Will Goodfellow]

Yeah, by 2014 they were all sold.

Honours Trustee Limited originally bought them in 1999 not 1998 and were then transferred to Honours Student Loans in 2004.

Eventually administration being transferred to Link Financial Outsourcing in 2016.

[Crumpet3000]

So I can't see my records pre selling of loans. So I have to pay back if I've missed deferments? Is it right that they (Erudio) can pass to solicitors?

[dx100uk]

Yours is nothing to do with. Erudio.arrows dca

 

it 's with honours/wilmslows/link dca.

 

Dx

[Will Goodfellow]

According to the letter from HSL, you have an outstanding balance of £588.93 which is due as you didn't correctly defer. You can pay the arrears or dispute that you owe them for whatever reason. HSL could make a money claim against you in county court if you don't sort out the arrears.

[dx100uk]

7 hours ago, Will Goodfellow said:

Eventually administration being transferred to Link Financial Outsourcing in 2016.

 

total BS, stop making things up !

go read the bottom of the letter is post 1

(0502 16) Honours Student Loans is a trading name of Link Financial Outsourcing Limited

 

On 09/12/2020 at 20:04, Crumpet3000 said:

This is a letter from Honours Student Loans - (Link Financial Outsourcing) 

...............

 

3 hours ago, Will Goodfellow said:

HSL could make a money claim against you in county court if you don't sort out the arrears.

 

or they actually can prove they exist through failure to defer.........

 

dx

[Will Goodfellow]

Why would I make stuff up, or BS as you suggest?

It takes a few seconds searching to confirm what I said is true:

"When Honours Trustee Limited purchased the loans in 1999 it entered into a contract with the Student Loans Company to continue to manage the loans.

This contract terminated in October 2004 and HTL transferred the administration of the loans to a third party administrator who serviced the loans using the trading style of Honours Student Loans (HSL).

In January 2016, the administrator was changed by HTL from Capita Customer Management to Link Financial Outsourcing with the Honours Student Loan style remaining in place."

https://www.hsloans.co.uk/about/

You're trying to tell me things I already know, see post #8 where I state:

"Honours Student Loans...is a trading name of Link Financial Outsourcing Ltd."

Obviously if a MoneyClaim is made, HSL would have to provide evidence that the loan was in arrears if the claim is defended.

 

[Crumpet3000]

Hi DX. So I can't get info on these loans from SLC. What should I do next?

Thankyou

[dx100uk]

who did you send deferment forms to - direct to SLC always?