I pay off my student loan every month but the debt keeps increasing | Student funding
I’ve been paying off my student loan since 2010 in monthly installments of over £ 200 via PAYE, but the balance keeps growing and interest charges are skyrocketing. The problem seems to have started when I changed jobs in 2012. Three years later, I discovered that none of my payments had been applied to my account.
The Student Loans Company (SLC) told me that according to HM Revenue and Customs records, I do not exist. HMRC insisted that this was a problem for SLC. I sent SLC twice four years of payslips (she lost the first batch) and after 12 months £ 12,366 was deducted from my debt. This did not include the cumulative interest charge. SLC insisted that I was responsible for these even if they were applied to an inflated balance in error.
It was in 2019. Since then, I have not been able to log in to view my account. SLC told me on several occasions that there was a blockage, that it was under investigation by HMRC or, more recently, that it was not allowed to discuss the account over the phone. He also insists that he is not allowed to send paper statements, so cannot establish what I owe.
SLC referred me to HMRC, who promised an urgent investigation. It seems that when you changed jobs, your national insurance number was merged with that of a foreigner, so repayments were in limbo for nine years with interest accruing on the balance which without error, should have been refunded. What is really alarming is that SLC and HMRC have tried to take the load off each other for the six years you have been trying to fix the problem, and action was only taken when I got over it. am involved.
HMRC said, “We apologize and have updated our records to reflect student loan repayments made to date. We have also arranged a repair payment of £ 400 and taken action to prevent this issue from happening again. SLC, who did not provide a comment, has meanwhile ruled you owe £ 1,800, but has yet to explain whether that includes the unfairly charged interest. Obviously, you want the unjustified amount written off. Your fate would be troubling enough if this were a one-off. However, other graduates have complained to me about being billed for debts they’ve already paid or not being able to check their balances.
Londoner THIS received confirmation from SLC that his loan was repaid in 2019. However, the deductions from his salary resumed without explanation in June of this year. Again, SLC and HMRC blamed each other. “HMRC told me that it received a notification from SLC in May to deduct student loan repayments,” he wrote. “SLC stated that this must be a mistake and that they will notify HMRC to stop receiving payments and that I will receive a refund from my employer.
“In September, the payments were still deducted and SLC claimed that a ‘The mortgage style loan, from Thesis Servicing on my account, was to blame. But he confirmed that he had no record of anyone with my name.
“On my last call with SLC he told me he couldn’t provide more details on this mysterious loan and that all he could do was notify HMRC again, but it would take until at two months. HMRC says he hasn’t heard from SLC so I’m stuck in a bureaucratic nightmare that has so far cost me £ 2,000 that I can’t afford. “
During this time, GE from London has been trying since 2018 to find out how much it still owes. “Anytime I am told there is a balance error so there is a deletion on my account which means they cannot provide me with an accurate statement or estimate of when it will be. solved, ”she wrote.
It took media participation for SLC to recognize an error in CE’s case. Infuriatingly, after ignoring and misleading him for three months, he informed HMRC to stop the payments and promised a refund the day I contacted him. It is written “He repaid his loan in full in 2019; the additional reimbursement deductions, taken from his salary, were the result of an administrative error by the SLC. We fully apologize for any inconvenience.
In the case of EW, she claimed that when there was a discrepancy between a customer’s refunds and their balance, access to accounts was “temporarily” restricted and statements suspended to protect customers from the obtaining misleading figures. He didn’t say what that gap was and miraculously, that three-year “temporary” restriction was lifted as soon as I questioned it.
SLC said: “We apologize for any inconvenience caused by the restriction on the account and can confirm that she is now able to access her balance and statements online, following an update to her account. account.”
Online reviewers report equally troubling issues with their student loan accounts. Clients who exhaust SLC’s formal complaint process without a satisfactory solution may request to be reported to an independent assessor, although they must rely on SLC to do so for them.
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