Ric Perry Posted September 29, 2013 Share Posted September 29, 2013 Loans under the pre1998 system were subject to the consumer credit act 1974, therefore if the debt has not been acknowledged in the last 6 years (5 years in Scotland) the debt can be claimed as statuted barred. This isn't at all applicable to post-1998 debts? Link to comment Share on other sites More sharing options...
lebourvellec Posted September 29, 2013 Share Posted September 29, 2013 This isn't at all applicable to post-1998 debts? Not if the first loan was in 1998, or after as the government changed the system and no longer under the CCA and taken out of wages direct. If first loan was before 1998 was in continuous education with loans taken out after they are still under old system. If you are required to defer loans every year or pay student loans direct - ie does not come out of your wages, but paid back over 5 or 7 years. But the chances if SLC forgetting about you for 6 years is highly unlikely. Pre -98 system loans are also wiped out once you reach 50 or 25 years after first payment was due. (60 if last loan taken out after 40), post-98 loans are not wiped out until reach 65. Link to comment Share on other sites More sharing options...
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