Got myself into one hell of a situation.

[oneunluckybloke]

Hi There -
I've got myself into one hell of a position....sorry for the essay below!?!

I suffered with undiagnosed PTSD from 1984 to c2002. Its not just my debts but my whole life ended up in pieces - estranged from family and basically isolated - moved out of home and took loans/overdrafts etc to live a life.

Finally i got diagnosed in 2002: Attended some counselling sessions, got the support of family and the support of my then (and current) employer.

So, i'd racked up £25k of debt in interim; and from 2002 until now have slowly hacked away at it Barclays, CitiF, HFC - All on F&F settlement, so the defaults on those should be up early 2009 (Depending on the outcome of the test case et all, i may apply for these to be removed by the courts - also depending on any info/assistance you can provide)

Back to topic: I then have only my StudentLC loan, which unfortunatly is £11k + £5k of arrears - i tried to service it, and they were pretty understanding with letter me pay less while i got the little debts out of the way. But 15k takes me over the magistrates level of hearing, and i think thats part of the reason the SLC have defaulted now!!

They are now asking for £500 pcm which i can't afford with my outgoings (and highly fluctuating income [i am in Sales]).

I have an NationWide account which i am claiming £1300 from and HSBC for £800 - i am due to issue N1 this week and i think my extenuating circumstances really would warrant a stay lift.

So off to court i go with SLC; i've worked really hard for the last 5 years to recover and i can provide evidence of when i started counselling and medication.....so i am

a) Hoping the judge will lift the stay on my charges cases - any thoughts?

b) The SLC case: i apprecaitte they are public funds, but the extenuating circumstances are massive....i am really looking to get some relief here? What can i hope for? Maybe a stay on interest and pay if back £75 until i am 60???

Thanks Again (Anyone!)

[Happyolddog]

Re: Got myself into one hell of a situation.

Hi Oneunluckybloke,

Sorry to read about your bad health and problems, I hope things continue to improve for you. With regards to getting the stay lifted, I wouldn't hold out much hope unless you are dependent on benifits.
The student loan company cannot demand such a high proportion of your income, they are limited to apercentage of earnings over a threshold of £1250 per calander month. So if you earn more than that amount in any calander month, they are entitled to their preportion. You need to talk to them and come to an agreement.

Best wishes,
Hod..Liam..

[oneunluckybloke]

Re: Got myself into one hell of a situation.

Thanks HOD - Appreciatte your thoughts.

My SLC loans go from 1992 to 1999 - so they are the old mortgage style loans; i.e not income contingent.

You are right with respect to the propotional income - but they are not flinching on the £175 (principal + interest) + £350 (Arrears) pcm; If i do not agree to this, they will issue proceedings. My response is attached.

So, i think i will take my chances and make some pretty deep requests of the courts with respect to what they can and will do...though i just read that SLC's defaults will score on credit files which is a

i guess if they also agree to enter something about causation on the accounts - i.e. illness.... it might offer some solice...though i don't see what! I could rant...

[Helford]

Re: Got myself into one hell of a situation.

To clarify;

The Student Loans Company Limited is a commercial company and subject to the law of the land like every other credit company that we deal with. However where the funds come from that they advance is a separate matter.

H

See here:-

http://www.slc.co.uk/about%20us/index.html

[Happyolddog]

Re: Got myself into one hell of a situation.

H Oneunluckybloke,

I don't know if you have tried this as a route to take, contact the SLC and ask for a deferment.
http://www.direct.gov.uk/en/Dl1/Directories/DG_6000194

Good luck,
Hod..Liam..

[crashbandicoot]

Re: Got myself into one hell of a situation.

Hi Oneunluckybloke,

Just wanted to say welcome to the forum and well done for posting up about your debt situation. It looks like you are tackling the problem head on, which is excellent. Stick around and keep posting up your progress, there are plenty of people here who can advise and guide you through your situation.

All the best,

Crash

[oneunluckybloke]

Re: Got myself into one hell of a situation.

Thanks all for your posts

A) I am not allowed to defer as my income is over the minimum level for repayment
B) Having asked the SLC to freeze interest so i could catch up on debt - i was advised by letter this could not be done as "its was tax payers money" - and as a mortgage style debt arrears would continue to go
C) The whole debt level to the SLC is to high and to be fair needs some kind of intervention.
D) What i am going to ask the judge to do (given the circumstances is)
a) Default the debt - which would freeze interest
b) Agree to payback £50 per month for the next 26 years to clear the debt
c) Remove the default immediattly given they have the power to do so, and also given the extenuating circumstances

E) So currently in lieu of a default notice, i have requested all charges/notes applied to account. I understand these should be at a minimum for the last 10 years. They have ignored these requests twice already.

F) Also getting together all my medical records etc....

G) Also as this is over £15k debt i understand it will be heard in High Court not the Magistrates - any advise? I understanad it's just the same as magistrates but they have higher powers????

Thank again everyone
OUB

[Paule]

Re: Got myself into one hell of a situation.

Hi there

To start off lets find out what you have got available to pay your creditors, and then hopefully we can start to get you sorted , and get your creditors to agree payments

We have a Personal budget sheet here in which you can enter all your income and outgoings.

This will also calculate the percentages to enable you to make offers to your creditors.

Once you have filled it in, give us a shout and we will point you in the right direction of what letters tosend out, and then hopefully we can get you back on track.

PKea

[Amethyst]

Re: Got myself into one hell of a situation.

E) So currently in lieu of a default notice, i have requested all charges/notes applied to account. I understand these should be at a minimum for the last 10 years. They have ignored these requests twice already.


Did you do this under the Data Protection Act with £10 ?

[oneunluckybloke]

Re: Got myself into one hell of a situation.

Basically asked them to send me all info on file and advise of me whether the cost was under SARS or Data Protection and who i should make the cheque payable to ...... i am still awaiting a response to this letter.

[oneunluckybloke]

Re: Got myself into one hell of a situation.

Cheers PKea -

I only have 3 creditors - SLC, HSBC (Car loan) and my mortgage all up to date and AOK.

Between 2002 and now I have slowly hacked away at it Barclays, CitiF, HFC - All on F&F settlement, so the defaults on those should be up early 2009 (Depending on the outcome of the test case et all, i may apply for these to be removed by the courts - also depending on any info/assistance you can provide)

I have 2 charges cases pending against Nationwide & HSBC - All in hand.

So it's just the SLC - and as for disposable income we are looking at £100 per month. Which is why i asked the SLC to accept, they won't. Thus i am in this position.

[Amethyst]

Re: Got myself into one hell of a situation.

Hi

you really do need to send a formal SAR with the Fee enclosed so they can't delay you any further. Additionally you can request a copy of your original credit agreement and a full statement of the account which they obliged to provide to you (fee £1) under the consumer credit act. that might get you the information quicker.

HTH

Ame
x

[thephoenix]

Re: Got myself into one hell of a situation.

Welcome :grouphug:

Just one point I'd like to make. If they are hell bent on issuing a claim against you, I personally wouldn't bother issuing a claim against them. As you say, it's above the 5k threshold, although if its a simple case it could go small claims.
I would personally use a ll the information Amethyst has asked you to get and use it as a counterclaim. It seems that they have a case to answer but without ALL the information, it's a difficult one to call.

As I said, I would get all the DPA AND CCA request information and take it from there.

[oneunluckybloke]

Re: Got myself into one hell of a situation.

Thanks very much Phoniex, Ame - I appreciatte your input.

In the interim of my last post and your responses i have:

a) recieved the last 6 years of statements - though these show no charges which were levied in the period from 1999 to 2002, which is when i was very ill.

b) I have requested a SAR with the fee including all data held on Microfiche etc.

I am hoping this will include data of the account since inception in 1992 and 2002 when most of the charges were incurred and thus issue a counter-claim. However if they do not have this data where do i stand?

[Amethyst]

Re: Got myself into one hell of a situation.

they have missed charges you know they have taken off of your statements ? (99-02)