Student Loans driving bankruptcy
There are many outstanding questions on the competency of the Honours student loan company. There will be a growing issue around this incompetency driving individuals into bankruptcy though charges on their student loans.
Let's outline my own current experience. Because of the time I was at university my student loans were shared between the two student loan companies. This has caused a lot of issues over the time of the loan that were never dealt with, even though they were repeatedly agreed to be dealt with.
For more than 15 years the Honours student loan has been failing in its agreement to synchronise and cross check the deferment of my student loans. Each year (that’s more than 15 times) after manually getting this check to happen they have agreed that this would not happen next year. Every time they have failed to fulfil this agreement, and each year the same problems of getting them to do the cross checking happened.
When one company's loan is deferred, the other should also be deferred: basic stuff that should not be a problem. In the final year before the loans were written off, the other loan company refused to communicate that the loan was already deferred because this deferment only had 3 months left to run. I pointed out their clear responsibility for this being an issue due to the loans becoming out of sync due to their repeated negligence. My point was it was a issue directly created by them: thus it was their responsibility to clear this up. Although there were constant phone calls from them they made no attempt to address this and have not yet sent me a meaningful reply to this issue of responsibility.
At the very least I would like this basic issue of how a responsible company can agree to do a basic service, then not do this service, repeatedly leaving me with the possibility of being bankrupted by their failures. Instead of this basic honesty, they are currently avoiding this issue and moving to push me into bankruptcy by calling the loan due in whole, even though it should have already been writern off completely.
The £489 in charges and interest outstanding during the period is a direct result of their failure and they have still not addressed this basic complaint. I am still waiting for a reply to this issue of their negligence being DIRECTLY responsible for the outstanding charges and the failure to write off this loan on the due date.
I look forward to a meaningful reply to this.