Paid Members SpursRiot2012 Posted October 13, 2017 Paid Members Share Posted October 13, 2017 50 minutes ago, Keith Houchen said: When they sell a debt on, it's because they can't be fucked chasing it.  The collection agency have more resources to chase it up.  I'm in shit street financially at the moment and have buried my head in the sand a lot. I know that if you reply to any letters they will pursue you more aggressively because they've found you, so to speak.  Small debts will be written off if they can't contact you but yeah, long term it does you damage. Yeah. I think I've mentioned my horrible history with debt on here before. I had probably 20 grand worth of debt at one point that has now been written off down to about a grand or two. If I get a decently paid job after leaving uni, my plan is to pay it off. I haven't really needed any credit for anything so in that respect I've been lucky and also the debt collectors don't know where I live. Link to comment Share on other sites More sharing options...
Loki Posted October 13, 2017 Share Posted October 13, 2017 Most people I know live massively in debt, I don't know how they do it. Â I'm so paranoid about debt that I pay for everything in cash after saving. Â This means I end up getting "new" technology about 5 years after everyone else but fuck it. Â I'm incredibly lucky to have emerged from uni without debts though, as I'm old enough to have got grants. Â My heart goes out to you young'uns, the system is totally rigged against you now. Link to comment Share on other sites More sharing options...
Paid Members Carbomb Posted October 13, 2017 Paid Members Share Posted October 13, 2017 I was in the first year of university students who had to pay fees. Only reason why I emerged without debt was that I spent two thirds of my gap year working and saving. Link to comment Share on other sites More sharing options...
Paid Members Sergio Mendacious Posted October 13, 2017 Author Paid Members Share Posted October 13, 2017 6 minutes ago, Carbomb said: I was in the first year of university students who had to pay fees. Only reason why I emerged without debt was that I spent two thirds of my gap year working and saving. Same... I came out of it with an eight-grand debt. I sometimes wonder how it's doing, maybe I should give it a call. Link to comment Share on other sites More sharing options...
Keith Houchen Posted October 13, 2017 Share Posted October 13, 2017 23 minutes ago, Loki said: Most people I know live massively in debt, I don't know how they do it. Â I'm so paranoid about debt that I pay for everything in cash after saving. Â This means I end up getting "new" technology about 5 years after everyone else but fuck it. Â I'm incredibly lucky to have emerged from uni without debts though, as I'm old enough to have got grants. Â My heart goes out to you young'uns, the system is totally rigged against you now. If things go tits up, you'd get a bit for the Porsche and the BAFTA. Link to comment Share on other sites More sharing options...
Paid Members PunkStep Posted October 13, 2017 Paid Members Share Posted October 13, 2017 Link to comment Share on other sites More sharing options...
Paid Members SpursRiot2012 Posted October 13, 2017 Paid Members Share Posted October 13, 2017 After doing a masters, I'll have about £64,000 worth of student debt. At that point, it's not real. Oh, they'll take some trifling amount out of my salary for the next 30 years, but there's no way I'll ever pay it all back. Link to comment Share on other sites More sharing options...
Paid Members FLips Posted October 14, 2017 Paid Members Share Posted October 14, 2017 Yeah I don't worry about my student debts at all. I don't know why people do. If you can't afford to pay it then you don't, if you can then you pay poxy amounts. I think the most they ever took off me was about £16 one month. Usually it's a few quid or nothing. Link to comment Share on other sites More sharing options...
Grecian Posted October 14, 2017 Share Posted October 14, 2017 Aye, student debt is the best type of debt to have. It's not counted against a mortgage application or anything, and for a lot of people, they'll never back it back. Link to comment Share on other sites More sharing options...
Paid Members Kaz Hayashi Posted October 14, 2017 Paid Members Share Posted October 14, 2017 Wasn't there discussions a few months back about May considering selling student debt to private companies though? I have no idea if it has any weight but I'm pretty sure it was at least discussed. Now if the rules regarding student debt stayed the same then fine, however I assume if this happened the the collection rules would change and it could be shit in terms of how much we'd have to pay back at a time, if additional interest was added, or if it would just effect future loans. Fuck knows, but it caused a sicky feeling in my mouth. Link to comment Share on other sites More sharing options...
Paid Members Tommy! Posted October 14, 2017 Paid Members Share Posted October 14, 2017 Even if it was sold on the underpinning terms agreed when the loan was taken would have to remain as I understand it. If they tried to change it would make life hard for lots of people but wouldn't stand in a court would it? The UK government has a bit of a reputation next to other 'big' EU countries for doing things they shouldn't or not doing things they should and waiting to get called out on it I understand. Link to comment Share on other sites More sharing options...
Paid Members Kaz Hayashi Posted October 14, 2017 Paid Members Share Posted October 14, 2017 (edited) 2 hours ago, Tommy! said: Even if it was sold on the underpinning terms agreed when the loan was taken would have to remain as I understand it. If they tried to change it would make life hard for lots of people but wouldn't stand in a court would it? The UK government has a bit of a reputation next to other 'big' EU countries for doing things they shouldn't or not doing things they should and waiting to get called out on it I understand. They are shocking for it. The snoopers charter is a prime example of 'what the fuck?'. They have been called out on it being an invasion of privacy whilst they simply shout Islam as a retort/reasoning. If there's a quid to be made, I would not put a single thing past the government in terms of having an ideas bank that in reality fucks the lives up of the many. They could make a fortune from selling the debt. Much like they can from service privatisation. Fight the power, fuck the system, have some crisps, etc. Edited October 14, 2017 by Kaz Hayashi Link to comment Share on other sites More sharing options...
Paid Members Carbomb Posted October 14, 2017 Paid Members Share Posted October 14, 2017 The Tories did sell a load of student debt a couple of years ago when Osborne was Chancellor. They made about £200m on £1bn's worth of debt, I think. Link to comment Share on other sites More sharing options...
Paid Members Sergio Mendacious Posted October 14, 2017 Author Paid Members Share Posted October 14, 2017 It’s a mess in the USA - I’m not 100% on this being national, as there are so many jurisdictions, but most student debt isn’t even discharged with bankruptcy Link to comment Share on other sites More sharing options...
Paid Members Tommy! Posted October 14, 2017 Paid Members Share Posted October 14, 2017 6 hours ago, Kaz Hayashi said: They are shocking for it. The snoopers charter is a prime example of 'what the fuck?'. They have been called out on it being an invasion of privacy whilst they simply shout Islam as a retort/reasoning.  I was thinking more of EU legislation which doesn't get put in place because they don't want to and they only get cought when something progresses to an EU court. Employee and workers rights are a big area they had a rep for for this IIRC, as the UK government just doesn't or didn't want to do it, so didn't until they had no alternative. Link to comment Share on other sites More sharing options...
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