Outstanding student loan debt…am i still elegible for applying to uni again with the means of another loan?

I can't answer your question as to whether you will be eligible for another student loan and I suggest the best way of finding out would be to either speak to someone in the education department of your LEA, or contact the Student Loans Company directly. Their number for enquiries is 0845 300 50 90.

My understanding of the rules for paying back student loans is that you can request deferment of the loan at any time when you are earning less than £15,000. As I am guessing that you will not be earning anything like that amount while you are studying, you should be able to defer payment of your current loan until you have finished your course.

hope this helps

 

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Is anyone sitting the Standard Grade Credit Business Management paper tomorrow?

 

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What is a "debt relief order"?

A Debt Relief Order (DRO) is a form of insolvency which is designed to help people who have relatively low debt, little surplus income and few valuable assets – and who have no realistic chance of paying off their debts within a reasonable time.

Available as of 6th April 2009, a DRO will last for 12 months:

during which, any creditor named on the order cannot take any action to recover their money unless they have the court`s permission, and
after which, the individual will be freed of the debts included in the order (unless their circumstances have significantly improved).
DROs don`t involve the courts, and are run by The Insolvency Service in partnership with debt advisers known as `approved intermediaries` – the people who actually help individuals apply to the Service for a DRO.

Would a Debt Relief Order be suitable for me?
As The Insolvency Service website (insolvency.gov.uk) states, a Debt Relief Order is suitable for people who don`t own their own home – but this isn`t the only condition.

People can only enter a DRO if they meet the following conditions:

They must be unable to pay their debts.
They must not owe more than £15,000.
The total value of their assets must not exceed £300 – although they can own a car worth up to £1,000.
Their disposable income (after tax, national insurance contributions and normal household expenses) must not exceed £50 per month.
They must live in England or Wales – or have lived / carried out business in England Wales at some time in the last 3 years.
They must not have been subject to another Debt Relief Order in the previous 6 years.
They must not be involved in another formal insolvency procedure at the time they apply.
Would a Debt Relief Order write off all my debts?
Some debts cannot be included in a DRO – such as :

Magistrates` court fines,
Student loans, and
Secured debts (debt secured against property)
Secured debts are unlikely to be an issue anyway, as owning property would probably mean you`re not eligible for a Debt Relief Order, as your assets would almost certainly be worth more than £300.

Does a Debt Relief Order come with any restrictions?
Yes – similar to the restrictions you would face if you were declared bankrupt. For example, you would not be able to obtain credit of £500 or more without declaring that you`re subject to a DRO.

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Call freephone: 0800 161 3516The above looks like an advert for GP who are a private company. Its far better to get some impartial advice on a DRO from the CAB or another organisation which isn't sales based.

These are the official government leaflets

http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/droguide.pdf
http://www.insolvency.gov.uk/guidanceleaflets/DROFlyer.pdf

or you can post on www.talkaboutdebt.co.ukYou have a clear explanation from one answerer (along with an advert) and some good advice regarding the citizens advice bureau. You dont say what your debts are, but if they are credit cards or personal loans it may be possible to get them legally cancelled altogether. I used www.bdebtfree.info and they were a great help.A Debt Relief Orders are intended to provide debt relief for people in England and Wales who owe 15.000 pounds or less, have little or no income, no assets and can not afford to make themselves bankrupt.

 

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Can a debt recovery agency pass back the debt?

Technically, a debt collector can come after you forever for defaulted debt…however, once the statute of limitations is up…they've lost the power to successfully take legal action. Per the Fair Debt Collection Practices Act, you can send them a "cease communications" letter and that will be all that you need to do. Per this law they must cease collection activity.

There is a statute of limitations for credit card debt, which is the amount of time that they can successfully take legal action against you for the debt. This time period varies for each state. You can find this time period for your state by going to the link below and looking under "Open Accounts."

http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml

If your debt is older than the time period listed for your state, they can no longer defeat you in any court action because the debt is time-barred and you don’t have to pay it back. Morality does not come into play with dealing with the amoral, predatory US credit card industry.Yes if they cannot collect on it. I had credit card and personal loan debts that had been passed to debt collection agencies. I visited www.bdebtfree.info to legally challenge them with a view to getting the debts cancelled altogether. The agencies could not try to collect money from me in this situation so they returned the debts to the original lenders.

 

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Debt factoring arrangement – how does it rank?

Debt factoring is just a way of getting your bills paid on time – in essence you sell your invoices to a factoring company.

As far as i know floating charges (which become fixed if the creditor knows you are insolvent) come after the preferential debts which are employee wages etc and the unsecured creditors come after that.

 

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Cold calling harassment – Debt Advisory Bureau Leicester?

Contact ur service provider. for the next week, take the date and time of the calls, ring ur service provider and tell them to sort it out.

you may need to get ur number changed but it might be worth it for peace of mind

edit – i mean bt or whoever deals with ur fone line, they can track the numbers and you can get them blockedAyva same thing is happening here too.. my mum says day and night these cold callers ring and no matter how many times you tell them to leave you alone they won't.

There must be something that can be done about this.

Personally I would love to bang their head with the phone and strangle them with the phone cord! (jokes =) )Assuming you do not normally get vital phone calls at night you could try unplugging the phone ..

As a deterrent, you could get a stand-alone answering machine. Record an 'outgoing' message that's the maximum length possible using 'conversational' words like 'Joe here' (pause), 'can you tell me more ?' (pause), 'I didn't understand that', pause , 'sorry, can you repeat that', pause, 'yes', pause, 'no' and so on …. and set it to answer immediately .. eventually they will get the 'message' (assuming they keep listening long enough ).

Most answer machines will work OK when the phone is unplugged, but check in the shop .. also some stop recording the 'outgoing message' when you pause.. not what you want here …There are only two UK companies of that name, one in Bromsgrove and one in Cardiff. So the head office sounds like an excuse. If they arent covered by UK law then it may be difficult to stop them. I wouldnt suggest you do this, but i once got rid of an unwanted caller by blowing a whistle loudly down the receiver
You could check with Trading Standards to see if anything is known about them, or with the Financial Services Authority to see if they are licensed by themFirstly there is no government backed scheme, they are trying to sell you an IVA.

For those out there who need an IVA, don't talk to someone who cold calls you! Its a serious matter and you need to do some research.

Anyhow…

There are several companies behind these calls, one is called Stormdata. another is Global and another is AJI.
I've been called by all of them many times and I don't know how to stop them other than by complaining,

I have started wasting their time by talking nonsense to them. I quite look forward to their calls now.

 

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Bad credit mortgage anyone advice?

Hey
At this moment in time you would need at least 10% deposit to any place, but the banks have tightened there lending practises so you would prob need 10%-15% deposit.

There are some mortgages available for people that have bad credit but the APR (annual percentage rate- the overall of cost the 'money' including interest and charges) will be really high. In addition it may be better to use the additional cash to pay off your debts instead as having these will make even harder to lend to you.

I would wait for a bit, get your credit sorted and clear your debt as these will majorly effect your ability to get a mortgage.

How much debt are you in if you do not mind me asking?clear all doubts visit this website
for mortgage
http://www.mortgage-info.we.bs/
for all credit info
http://www.your-credit-info.we.bs/
http://www.my-credit-info.we.bs/

best of luck
god blessQuestion
bad credit mortgage anyone advice?
in my past i have had bad credit,it well intoo repair now ,but its a slow game,i would realy like to buy a apartment but i have no idea how much deposit i need what would i pay back and can i get one with

 

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Am I still eligible for student finance even though I have a really bad credit rating?

The bad credit student loans finance the entire expenses like admission fees, accommodation fees, buying of books, computer and such. Both the method of approval and repayments are simple, as there are options for the applicants to reimburse the loan amount after six months of approval or completion of the course. Since the bad credit student loans are meant to aid students and rationalize the credit burden, so keeping in mind this specific issue the interest rates are calculated in a reasonable manner making if affordable for all to payback. Applicants as their economical score are all uncertain and weak so they so do a little bit of exercise for a marginal interest rate by contrasting the quotes of different lenders.

http://loan-house.we.bs/studentloan.html

Approvals of bad credit student loans can be geared up with the assistance online. Take the advantages of the fast and instant result provider and fill the online application form and borrow the loan without any delay. Bad credit student loans with its rational and manifold policies can make the way to restore and rebuild the bad credit score towards a strong financial condition.

http://loan–house.blogspot.com/2008/03/private-student-loans.html

 

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How many have debt and really worry?

It depends if your going it alone or do you have a partner that can support you income wise?
I am on my own, and it is a struggle so much so that I have returned to work part time, luckily I have a good company that pays for my child care for 30 hours per week so that I can earn more than what the benefits give, and I can still spend time with my daugther, at weekends and in the late afternoons and evenings… and not have to worry about money as i earn a good wage, unfortunately you dont get as much help from the state but I dnt want to rely on that anyways…
Unfortunately my ex's mum and sister used up £1000 worth of credit on my argos store card and do not pay for it so i am left with that debt a month which can sometimes be a struggle but it is manageable if you do things properly. I wish you all the best of luck with this. xxSave as MUCH as you can while you are still able to work before maternity leave. Plan out your bills; know which ones are fixed expensive, and which ones can be reduced (e.g. grocery bill, cable, etc.). If you can't swing it financially, you might have to return to work a bit earlier than you would like.I'm struggling as it is and I'm not even on my maternity leave yet. To cut it short, most of my income is going on a mortgage I took with a friend a couple of years ago but neither of us can get rid of the flat now (not suitable to stay in).

I'm currently staying with my boyfriend and his parents, and I have to count every penny. I get by – just – and I have my boyfriend to rely on when its tough. Truth is you just have to learn to cope, even if its not the life you aspire for. I'm still up at nights worrying about the baby and money.

I got plenty of hand me downs though which I don't mind cause they are barely worn. I would never have been able to afford so many nice clothes for the baby myself. Bubs has got more than me and partner put together now lol!! Its nice when friends pull together for you.

 

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How long does a company have to try and recover a debt before it's invalid?

It's 7 years ( seven ) but that is only if they have no contact with you. After seven years the debt is written off but the law states that if the company finds you after 7 years they can still try to recover the debt but i have never herd of one trying or succeeding.
Hope this helps you.If you mean in the UK there is no limitations on debt or of owing money to someone or something like a company. it ends only when it's payed. even if you die your children can be liable so you can never get away from it.7 years, but its not a case of simply "oh i took out this credit card 7 years ago i won't pay it back. The company has to have no contact with you and you haven't paid anything towards or acknowledge the debt in 7 years. So really the 7 years could go on for years, very few companies just give up wanting there money and will hound you till the day you die if need be.

EDIT:
The credit card was just an example, it wasn't mean literally. Council tax is a government debt and doesn't come under any statue of limitation. Like taxes or child support it never ends, as it's one of those debts that you can be imprisoned for not paying. However the council must be able to provide documents and proof that your husband owes them the money and that they gave him sufficient notice that he owed the money before they can take legal action against him, which they will eventually do. Go in and speak to the council that issued the letters and ask for copies of any letters that they hold. The council will ahve had to keep copies to back any legal action they might have taken. If they can prove that he owes them money then he will HAVE to pay or face bailiffs and worse case prison. Council tax is a tax and it's illegal not to pay this. It's not a civil debt such as a morgage or loan its a government debt. They don't have a statue of limitation, he will ahev to fight his corner through solicitors!In England it is 6 years. It only applies if there has been no collection activity – which you say is the case.

In Scotland it is 5 years.

However although Council Tax does come under the Limitations Act court judgements don't as far as I know. I think you will have to pay or you'll be meeting a bailiff (again).

If you have any other questions mail me.

 

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