Supragal Posted September 5, 2008 Share Posted September 5, 2008 I can't believe this... I thought to myself earlier that I was sure I should have finished paying off my student loan by now, but then realised I hadnt had a statement which you normally get after April. So I called them up and asked what my outstanding balance was. I am told that they don't have any records from the IR since April 2007 for me but at that point I only owed X amount so I've been paying £120 or whatever it is a month back for 17 months, when actually I've probably already repaid it. Yeah sure they will refund me any money once it's all sorted out but they have been making interest off that I haven't been saving it so I have lost out on interest too! Thought they were meant to be there to help poor students out. Quote Link to comment Share on other sites More sharing options...
Pabs Posted September 5, 2008 Share Posted September 5, 2008 I NEVER got any statements from the SLC. Requested one recently, and now had 3 at once. They've got all the details wrong, and my loan is actually INCREASING year on year! According to their records, I've paid by £160 a year - when actually I'm paying about £100/month!!!!! They said not to worry, so long as I have my payslips to prove each payment..... hmmm... Quote Link to comment Share on other sites More sharing options...
Supragal Posted September 5, 2008 Author Share Posted September 5, 2008 yes I have to do the same, send in my p60 for 2007 then copies of all my payslips for 2008. Not sure I should have to, surely that is their job? Bah. Quote Link to comment Share on other sites More sharing options...
hoff Posted September 5, 2008 Share Posted September 5, 2008 yes I have to do the same, send in my p60 for 2007 then copies of all my payslips for 2008. Not sure I should have to, surely that is their job? Bah. I get a statement every 3 months I think and they have never asked for any P60's or payslips. And hearing what just happened to you I'll be keeping a closer eye on mine. Thieving gits:blink: Quote Link to comment Share on other sites More sharing options...
Supragal Posted September 5, 2008 Author Share Posted September 5, 2008 I get a statement every 3 months I think and they have never asked for any P60's or payslips. And hearing what just happened to you I'll be keeping a closer eye on mine. Thieving gits:blink: I guess it depends if you're lucky or not, if the IR keep them updated then I suppose it works ok. Still irritating though, could have done with the extra money these last few months! Quote Link to comment Share on other sites More sharing options...
SupraAyf Posted September 5, 2008 Share Posted September 5, 2008 The bank have done you a favour as that is 17 x 120 quid that you may have spent otherwise. Now, you've got 2 Grand saved for a nice holiday or something:) Happy Spending Maam:D Quote Link to comment Share on other sites More sharing options...
Bobbeh Posted September 5, 2008 Share Posted September 5, 2008 This was news on the radio about a month or so ago. Thankfully mine seem to be paid off in time and I've not run into the same situation. Quote Link to comment Share on other sites More sharing options...
Supragal Posted September 5, 2008 Author Share Posted September 5, 2008 The bank have done you a favour as that is 17 x 120 quid that you may have spent otherwise. Now, you've got 2 Grand saved for a nice holiday or something:) Happy Spending Maam:D Ahh now I thought that, then realised it wasn't the case as it's not like I'd already paid it off at the end of 2007, it was just a low balance, I'm not sure when it would have been repaid, but it's before now. Still hopefully get something. Quote Link to comment Share on other sites More sharing options...
ivan Posted September 5, 2008 Share Posted September 5, 2008 Surely you can work out how much you've overpaid by and ask for it back? Quote Link to comment Share on other sites More sharing options...
Jake Posted September 5, 2008 Share Posted September 5, 2008 Thought they were meant to be there to help poor students out. They are helping them, with your money! Quote Link to comment Share on other sites More sharing options...
juanchan Posted September 6, 2008 Share Posted September 6, 2008 SLC wouldn't give me my outstanding balance over the phone. I've not heard from them since April 07, and from April 06 til April07, I'd paid back less than the interest for the same period. I've had a payrise since then, but the interest rate has doubled since then, so I doubt I'm clearing mine at all ATM. I've also heard stories/rumours that they're willing to take bribes - eg: "The next cheque that comes in for £1000, if you clear it against my loan, I'll give you £100" etc. I've got a few friends who are having it out with them regarding overpayments that were cashed, but not cleared against their outstanding balance. Quote Link to comment Share on other sites More sharing options...
Supragal Posted September 7, 2008 Author Share Posted September 7, 2008 SLC wouldn't give me my outstanding balance over the phone. I've not heard from them since April 07, and from April 06 til April07, I'd paid back less than the interest for the same period. I've had a payrise since then, but the interest rate has doubled since then, so I doubt I'm clearing mine at all ATM. I've also heard stories/rumours that they're willing to take bribes - eg: "The next cheque that comes in for £1000, if you clear it against my loan, I'll give you £100" etc. I've got a few friends who are having it out with them regarding overpayments that were cashed, but not cleared against their outstanding balance. OMG I hope that's not true, that's terrible! I am also concerned about the paying less than the rate of interest thing... the rate is really low isn't it? I hope I've not done the same or anything silly and actually still owe them :/ Quote Link to comment Share on other sites More sharing options...
juanchan Posted September 7, 2008 Share Posted September 7, 2008 OMG I hope that's not true, that's terrible! I am also concerned about the paying less than the rate of interest thing... the rate is really low isn't it? I hope I've not done the same or anything silly and actually still owe them :/ It was 2.4% I think, which was fine. It's now 4.8%, so it's encroaching on 'proper' loan territory, when the whole point of it, I believed, was to be a way to help people afford going to uni. I think I might be ok actually - by about a couple of hundred a year. Which on a £12k+ loan is rather pathetic!! My cousin had a few cheques for 4 figures, or close to, cashed and not credited to her account. They only changed their mistake because she provided them with a photocopy of the cheque and copies of bank statements to prove it had been cashed. Also, a lot of my friends have noticed that their regular payments aren't even being credited to their accounts. One friend, doing quite well for themselves, is paying about £250/month back. SLC reckon they only paid £480 between April 07 and April 08.... I usually start on the offensive when I ring them as they're so retarded and useless. Quote Link to comment Share on other sites More sharing options...
rob wild Posted September 7, 2008 Share Posted September 7, 2008 One of the worst/badly run government thing i've every had the misfortune to encounter!!!!! I got about 10k loan with them over a 4 year period. I then went into teaching, now at the time one of the incentives to get into teaching was that they would pay the loan back which at the time was only small compensation compared to industry wages. However I sent the forms off as said, then rang up about a year later when I had my statement which had not changed to be told that they had never processed it and to make matter worst because I was then in my 2nd year of teaching I was no long eligible WTF They told me "it was my own stupid fault" for not checking sooner Anyway after sending them several letters of complaint and taking legal advice they told me that they would "look into it". That was about 4/5 years ago. I get a statement every so often and its not changed so I've just left it. I know its the wrong thing todo but I just can't be bothered with the stress off it! and I think deep down they are just going to say sod it and make me pay it back! I feel your pain Quote Link to comment Share on other sites More sharing options...
Rob Posted September 7, 2008 Share Posted September 7, 2008 Ooh, if you saw the lovely new building we've just done for them. A sort of call centre thing, with surprisingly expensive floor finishes, and who'd have thought they needed LCD tellys of that size in all the meeting rooms. Quote Link to comment Share on other sites More sharing options...
Supragal Posted September 7, 2008 Author Share Posted September 7, 2008 Good grief these horror stories are making me feel better about my minor plight! Quote Link to comment Share on other sites More sharing options...
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