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Student Loans Being Sent to Debt Collectors

22/12/2013

 
The government has confirmed that it is using debt collectors to actively pursue student loan debtors living in Australia and the UK. This reflects our own experiences with clients as we are helping more and more people in those countries who are facing harassment and pressure from private debt collection companies. 

If you have been contacted you don’t have to accept the solution that these companies offer you. There are alternatives. Please talk to us before making any payments.

Jane
2/2/2014 07:33:19 pm

Hi,
I am in this situation. I stupidly took out a student loan in the late 90's and have since married a Brit and moved to the UK. I didn't even finish my degree which is super annoying.
The other day I received a letter from a UK debt collector for around $21,000. The don't give me any other details about it except that it's my 'student loan debt'. I know my loan was actually about $60,000 last time I checked so I assume the $21k is just penalties or something that I have been saddled with in my absence.
I'm really not sure what to do. I can't pay the debt off in one go, but I could arrange payments. But maybe I should contact the IRD rather than the debt collectors but then I'm scared that they will force me to pay the whole thing which I can't do so will leave me with the only alternative of declaring bankruptcy.

Any advice you can give me would be appreciated.

Andersen Accountants Ltd
3/2/2014 12:30:19 am

Hi Jane. It is likely that the $21,000 is the arrears portion but until you contact IRD you won't know for sure. We have a range of ways to help and take the stress off you, including talking directly to the IRD on your behalf, and advising you on the best alternatives. Please contact me if we can help: kristina@andersen.co.nz . Best wishes

bad credit personal loan link
15/2/2014 10:34:39 am

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