But if you're in Thailand and they don't know, how will they charge you, unless you wish to inform them?
If you go back after 15 years and are earning over 15k you will pay the 9% for the remaining 10 years.
That's the way I see it anyway, I may be wrong.
in the US it never goes away.
they dont know NOW. things are getting more connected by the year. dont be surprised to see banks be able to keep track of you around the world before long. enjoy hiding while you canOriginally Posted by cosa
btw, dont think thats necessarily a very sound plan...hiding for 15 years making next to nothing only to go back to the UK and make next to nothing. besides, the loans wouldnt disappear after year 25, anyway.
if its too good to be true, it most certainly is.
Bush, Obama and the boys could have done something really worthwhile, likw getting a handle of this "student loan" business.
They found billions to bail out the financial institutions..........
People have to organize and fight back.......
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Correct (not available in Scotland)...or when you reach age 65.
Frequently asked questions
Regarding the travel restrictions. The same silly assertions from the merchants of doom always appear when this topic raises it's head. Has there been an movement towards implementing such a policy since I joined the forum over 3 years ago?
Read the contract of your student loan. Taking them out after 1998, they get wiped after 25 years or when you turn 55, which ever comes first. Pretty simple really, pay it or don't. No point crying about it.
---Update---
correct
We have regulations in Canada that would prevent overly aggressive collections.
First of all, they would reasonably have to give you enough to live on providing the essentials for yourself, including rent, transportation, food, etc.
I can't see any government becoming overly aggressive in this area.
I have heard, on a side note, that the Brits may insist that people drawing a public pension will have to spend most of their time in blighty.
In other words, live in Britain. And spend the money in Britain.
I think the sky is falling dance vis-avis student loans is sometimes overstated a tad and somewhat irrational.
But do try to clean up the debts.
................it's always a loose end...
Loose ends are bad ends.
...Don't let them badend you...
Exactly! Even if you're not eligible for JSA or a pension the law, both UK & EU, states that the government have to give you a minimum amount to live on.
---Update---
A student loan is not a personal debt, it's a national one.
There is a good argument there.
You're right.
A lot of misinformation on here. Non-payment of a student loan in the UK is not a criminal matter, only a civil law one. Quite different to the system in the US. There is no way the SLC can force you to repay a student loan from abroad, but be prepared to be caught out by direct deductions taken from salary (via the PAYE system) if you return to the UK to work in the future. After 25 years it disappears.
The SLC have just informed me that the threshold for Thailand is now £12,600
The SLC have just informed me that if you are moving abroad and don't inform them, then you will be charged £120 a month (on top).
I'll be looking to to this more, as I have just got a part time job (up until my PGCE starts) working for HMRC
Last edited by Jonny English; 19th April 2012 at 16:00.
As long as you're outside the UK, the SLC can charge you what they like but they cannot enforce it. If you don't return to the UK or have a source of income there there is nothing they can do.
Within the UK, it's your new employers, HMRC, that recovers payments directly from salary on the SLC's behalf. If you're self-employed in the UK then you have to submit annual tax returns to HMRC and student loan repayments would be based on these.
The bureaucracy isn't that difficult to grasp.
i wonder how they could prove if you were working abroad or just sat on a beach the whole time?
---Update---
and the new threshold is about 50kTHB a month?
Would the SLC be able to track you down abroad, if you dont return to UK ever??...
Extremely unlikely.
When I first moved out here I owed about a grand to my credit card... I had set up a direct debit from my UK bank for the minimum payment of something like 40 quid a month, and thought nothing else of it. About 2 years later I went for a trip back home and contacted them to see where I was at with the debt, assuming it to almost be finished. It had, infact, almost doubled. Aparantly I had, at some point, gone about 2 pound over my credit limit. That meant that with the charges for going over, the direct debit didn't cover the min payment. It just sort of spiralled from there...
I cancelled the direct debit and decided to forget about them.
---Update---
Another year or so later I went back again. Apart from the first month or so after cancelling the payments they had not been in touch at al. Somehow they knew to start calling within a week of me being back home. I answered the phone one time...
"Can I speak to Mr.Savvy please?"
"Yes, speaking."
"Hello Mr. Savvy. This is spotty tit from Barclays, regarding you overdue balance. Before we can continue our conversation I need to ask you some security questions."
"Ok, no problem. Fire away."
"Sir, can you tell me your date of birth please?"
"7"
"7 what?"
"No, just 7"
"Sir, if you don't pass the security questions then we can not discuss your debt payments with you"
"That is a shame"
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