Scottish and English debt laws are different, so if you are a Scottish resident and have questions on debt, then this is the place to post.

Moderators: TalbotWoods, JaneClack

By Anne77
#43332 Hello Everyone,

I just wanted to ask a quick question or two.
Firstly I have recived texts from egg asking me to contact them urgently no doubt because I have cancelled my direct debits to them. Would it be best to contact them and tell them I have entred a trust deed or should I just ignore the texts and speak to them only when they call me.

Secondly, my student loans have been included in my trust deed even though I have not begun yet to pay them off. I recived my annual deferment application today and I'm not sure if I should fill it out anyway or ignore it as it is included in my trust deed.

Any advice is greatly appreciated!
Many thanks,
Anne
By kiltedscot
#43341 I have a student loan from 11 and 12 year ago, I was under the impression that this could not be included in a Trust Deed,I to defermine every year cause i dont earn enough.

What is the situation with them?

Gordon
By Anne77
#43350 Hello Gordon,

I have received lot's of conflicting advice about Student loans and trust deeds myself and all I can say for sure is that my IP has included the student loans in my Trust Deed.
The National Debtline Scotland, the CAB and my IP all seem to think that as my Student loans were taken out before the repayments were linked to PAYE that they can be included in the Trust Deed. However they also advised that the law is due to change so that in the future it won't be possible to include the old style student loans in TD's.
I have also had advice from reliable sources on this forum advising me that it is not possible to include any sort of Student Loan in a Trust Deed.
I personally am confused which is why I am unsure what to do with the current deferment letter.

Anne
By Anne77
#43382 Thank you for your reply. I am not sure if the law is the exact same in scotland but I will look at the scottish site to see.
By JLP
#43532 Hiya Anne

I have now been advised as well that the "old style" Student loans CAN be included in Trust Deeds (I was always advised that they couldnt which is what I told you as per the Education Student Loans Act 1990 Schedule 2 Para 6), BUT as you say there is a GREAT deal of confusion over this and the law is definately changing on this. I would probably wait for your IP to write out to them and see what they say......... :D

As for Egg-let your IP deal with it-thats what he is there for........... :D
By Anne77
#43699 Hello JLP,

My IP has informed me today that in regards to my Trust Deed the Student Loans Company has written to him with their claim so it seems that they have acknowledged that the debt I owe them is now included in a Trust Deed.

I'm not sure exactly when the laws will change with regards to TD's and student loans but I think it maybe this year?

Also thanks for the advice about the texts JLP!

Anne.
By kiltedscot
#43745 I will have to contact my IP, cause i dont know what the situation is,

thanks JLP.
By mcarreno
#44792 This is a bit worrying for me, as I have over £4,000 in student loans that possibly could have being written off in my TD. They have being deferred for the past few years.

I only have a few month left on TD, cold I somehow get my student loans included at this point?

Thansk
By JLP
#45093
mcarreno wrote:This is a bit worrying for me, as I have over £4,000 in student loans that possibly could have being written off in my TD. They have being deferred for the past few years.

I only have a few month left on TD, cold I somehow get my student loans included at this point?

Thansk


Have a word with your IP-I am not 100% tbh.Normally debts that have been forgotten about can be included as long as they were taken out beore you signed your TD, but remember your IP is actually working for the creditors and not you, so I reckon it would be up to him.Better have a word.Sorry cant give you any more conclusive help......... :(
By penny1234
#45391 Hello there,

I am new to this forum. What I have read so far has been very helpful. I have a question regarding student loans and trust deeds.

I have both an old style student loan and the new style loan that's meant to come directly off my wages. I have never had it taken from my wages with PAYE. If I were to enter a trust deed and it became protected would both styles of loan be included?

Advice would be greatly appreciated.
By JLP
#45666
penny1234 wrote:Hello there,

I am new to this forum. What I have read so far has been very helpful. I have a question regarding student loans and trust deeds.

I have both an old style student loan and the new style loan that's meant to come directly off my wages. I have never had it taken from my wages with PAYE. If I were to enter a trust deed and it became protected would both styles of loan be included?

Advice would be greatly appreciated.


AS you have probably read-there is a bit of debate over whether Student loans can be included in a TD or not. So I had a google and found this

http://www.scotland.gov.uk/Publications ... 20093732/8

This doesnt make it any clearer but shows the proposed changes
For a definitive answer- I would call the http://www.aib.gov.uk/. Now if I had time, Id call them myself-but am feeling a little lazy and overworked this morning........ :D

Then I found this-which was what I was told originally-

http://www.insolvencyhelpline.co.uk/pay ... nd.htm#Q10 (mind you they are English-what would they know........ :wink:

Def call the AIB-they should hopefully put us all right...... :D
By penny1234
#47198 Hi there,

I tried to find out from the AIB once and for all if student loans were included in trust deeds. They couldn't tell me, they did however give me a different number to call. This was for the Institute of Chartered Accountants in Scotland (ICAS).

I called ICAS. I asked them if both my old style and new style loans would be included in my trust deed, they took my number and said they would call me back once they'd looked into it.

I received a call back a short time later to be told that yes both my loans would be included. I asked if this was the case for everybody, whom up until this date had entered into a protected trust deed. They told me that the laws are changing very soon and he wouldn't like to generalise. They also asked me if I studied at an English Institution i.e. was my student loan English. If it was I don't think it would have been included.

I hope this clarifies things.
By JLP
#48689 Thanks Penny for this......... :D