Link Financial and pre - 98 student loan

[PlanB]

Re: General Information About Bailiffs

My DD is self-employed, graduated 6years ago and I do her tax for her, this past years tax due included the legend "this includes student loan repayments and class 4 NIC as well as income tax" so the self employed don't get to slide away, unfortunately for them.

Even if your self-employed earnings are under the £15k threshold? It's nice to see another mother has to do all her grown-up daughter's paperwork as well as her dirty washing

[Riz]

Re: General Information About Bailiffs

This is interesting Rizzle. My daughter finished university 4.5 years ago and has not paid a penny back towards her student loan because she has been either unemployed or earning less then the minimum threshold (£15k rising to £21k soon?). She is now self-employed so doesn't have an employer to deduct payments. Could this mean that in 18 months time the Student Loan may be SB if I've understood you correctly? She hasn't ever acknowledged anything since she gave them our *home* address at the outset and neither of us lives there now. Once 6 yrs are up if she gets a job then the employer will deduct SL payments but no DCA can take her to court

It gets complicated regards your obligations, and when the SB period starts as far as I recall from the very brief time I've looked at that.

Either the period doesn't start until the payemnts are actually due back, or simply being in the "system" (SA or PAYE) is acknowledgement enough of the liability.

From what I can gather the only time that SB might come into it is if you duck out the the system, go abroad etc and have no contact with them.

As deductions come from income/wages, SB is unlikely to be an issue for most anyway, unless as said you go AWOL for half a decade or so.

[Riz]

Re: General Information About Bailiffs

If anyone knows any different ^^^, let me know.

Not had reason to investigate further than a cursory look so far.

[PlanB]

Re: General Information About Bailiffs

If anyone knows any different ^^^, let me know.

Not had reason to investigate further than a cursory look so far.

I'll get her to start digging into this discretely, but the high interest rate charged by the Student Loan Company is disgusting considering BBR has been 0.5% since March 2009Perhaps that's why the Government is thinking of putting it up for sale to an independant firm because it'll be a nice little earner for somebody

[MrsD]

Re: General Information About Bailiffs

as it was, she was under the threshold (arty farty type career, pays buttons) but the very fact that you have to SA means you're still in the system so to speak, and she did pay tiddly amounts when she was in a 2 year contract a couple of years ago.

[oscar]

Re: General Information About Bailiffs

I'll get her to start digging into this discretely, but the high interest rate charged by the Student Loan Company is disgusting considering BBR has been 0.5% since March 2009Perhaps that's why the Government is thinking of putting it up for sale to an independant firm because it'll be a nice little earner for somebody

SLC dont use base rate - they use CPI or RPI depending on when you took your loan out - roughly 4-5% (at present)

However, if I remember correctly, this has just changed, or is about to, and the rates are pretty much commercial ones (or were they just looking into this - either that or I just made it all up)

[pompeyfaith]

Re: Link Financial and pre - 98 student loan

Soon as Cameron got in N0 10 he changed it from RPI to the inferior CPI