Discussing UK law. Links: swarb.co.uk | law-index | Acts | Members Image galleries

Student Loans

Law of banking - cheques, PPI etc. Insurance, Financial Services/

Student Loans

Postby Hairyloon » Fri Aug 08, 2014 4:59 pm

Another company has taken over some of the older outstanding student loans.
They are demanding more personal details and additional evidence over what was required by the original company before they'll defer payment, are they entitled to do this?
As I recall, the agreement with the original company was that no repayments need to be made until the borrower is earning in excess of average wage, but I do not recall the exact terms.

How does the Limitation Act apply to these loans? Am I right in thinking that the requirement to apply annually for a deferment means that the loan is acknowledged every year, so the limitation period runs from the last deferment application?
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9925
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Student Loans

Postby dls » Fri Aug 08, 2014 5:09 pm

I have never checked it, but some statutory debts are not affected by either limitation or bankruptcy. Include student loans.
David Swarbrick (Admin) dswarb@gmail.com - 0795 457 9992
User avatar
dls
Site Admin
 
Posts: 12136
Joined: Thu Nov 01, 2012 1:35 pm
Location: Brighouse, West Yorkshire

Re: Student Loans

Postby Hairyloon » Fri Aug 08, 2014 6:43 pm

dls wrote:I have never checked it, but some statutory debts are not affected by either limitation or bankruptcy. Include student loans.

If that is the case, then presumably it will be mentioned in the legislation.
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9925
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Student Loans

Postby atticus » Fri Aug 08, 2014 7:35 pm

Correct. Student loan debt can specifically not be extinguished by bankruptcy.
User avatar
atticus
 
Posts: 19546
Joined: Sun Nov 11, 2012 2:27 pm
Location: E&W

Re: Student Loans

Postby Hairyloon » Sun Nov 16, 2014 1:39 pm

atticus wrote:Correct. Student loan debt can specifically not be extinguished by bankruptcy.

Could I please trouble you for a reference to where that is specified?
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9925
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Student Loans

Postby 3.14 » Sun Nov 16, 2014 2:30 pm

https://www.gov.uk/bankruptcy/when-bankruptcy-ends

Debts that won’t be written off
When you’re discharged you’ll be released from most, but not all, of the debts you owed at the date of the bankruptcy.

Debts you won’t be released from include:
- debts arising from fraud
- anything you owe under family proceedings - unless the court decides otherwise
- damages for personal injuries to anyone - unless the court decides otherwise
- debts which weren’t included in the bankruptcy itself, eg a debt to the Student Loans Company
Hide in the noise. #hackerwisdom
User avatar
3.14
 
Posts: 2121
Joined: Thu Nov 01, 2012 2:58 pm

Re: Student Loans

Postby Hairyloon » Sun Nov 16, 2014 2:40 pm

Nothing in that suggests that the limitation act would not apply...
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9925
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Student Loans

Postby 3.14 » Sun Nov 16, 2014 2:41 pm

Hairyloon wrote:Nothing in that suggests that the limitation act would not apply...
google is your friend.
Hide in the noise. #hackerwisdom
User avatar
3.14
 
Posts: 2121
Joined: Thu Nov 01, 2012 2:58 pm

Re: Student Loans

Postby Hairyloon » Sun Nov 16, 2014 3:08 pm

3.14 wrote:
Hairyloon wrote:Nothing in that suggests that the limitation act would not apply...
google is your friend.

Only sometimes. Quite often it just turns up a load of uncertain discussions on the subject.
In this case though, this appears to say that the Limitation Act does apply to student loans.
Take me to your lizard...
User avatar
Hairyloon
 
Posts: 9925
Joined: Thu Nov 01, 2012 3:12 pm
Location: From there to here and here to there... Funny things are everywhere.

Re: Student Loans

Postby atticus » Sun Nov 16, 2014 7:23 pm

Hairy's friend appears to be called Yahoo.
User avatar
atticus
 
Posts: 19546
Joined: Sun Nov 11, 2012 2:27 pm
Location: E&W

Next

Return to Banking, Financial Services etc

Who is online

Users browsing this forum: No registered users and 1 guest

cron