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wr2406
Regular Contributor

18 Posts

Posted - 20 April 2017 :  18:43:30  Show Profile  Reply with Quote
After 20 years the Student Loans Company have contacted me with a default notice. I called them and told them I could not pay in full and they said I've to wait until their collections department contact me to make a payment arrangement. My question is, how can I make a payment arrangement when all of my available income is paid to my Trust Deed? Has anyone else been in this position and can advise me how to proceed?

Kevin Mapstone
Trust Deed Expert



3401 Posts

Posted - 21 April 2017 :  08:40:47  Show Profile  Reply with Quote
I would advise them that you are in an insolvency procedure and they will have to wait until that is finished before you can make payments. Your trustee may be willing to contact them to say this too.

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wr2406
Regular Contributor

18 Posts

Posted - 21 April 2017 :  11:09:01  Show Profile  Reply with Quote
Thanks Kevin. Are they likely to accept that?
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Kevin Mapstone
Trust Deed Expert



3401 Posts

Posted - 21 April 2017 :  13:04:21  Show Profile  Reply with Quote
They should do. They can't expect to be paid in preference to other creditors when you are subject to a formal insolvency procedure. Let us know what they say will you?

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wr2406
Regular Contributor

18 Posts

Posted - 21 April 2017 :  14:06:46  Show Profile  Reply with Quote
Will do Kevin, thanks
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