Korean Job Discussion Forums

[timolein23]

Ive been here a year and am just about to renew. So far I havent paid any of my loan back. Only now are they demanding I contact them otherwise they will automatically take money out of my account.

http://www.slc.co.uk/thresholds/index.html

on that link it says the threshold is 9,000 pounds and the default payment is 147 pounds. is 147 the minimum?

also what happens if i shut down my bank account and pretend it doesnt exist?

[morrisonhotel]

I'm just in the process of sorting mine out now. From what I understand, you pay back between 30 and 40 quid a month depending on what you earn.

[Davew125]

when i was earning 2.2 last year i emailed them my details and they said i was below the threshold. I was lucky as when i renewed my contact most of my raise was incorporated into overtime pay so it didn't effect me again. Try and be creative with your contract if you don't fancy paying it off for a bit.

[LemonHead]

The minium amount to be eligible for repayments is 15k. So unless you are making more than 15k then you won't be forced to make any repayments.

[jammo]

0% this year too. what a lovely bunch!

[Davew125]

[Hyeon Een]

What do they "do" otherwise?

I'm probably about 18k in the hole and I've not spoken to the student loan bastards in years and years. It' probably 20k or more with interest now actually.

I graduated in 2002. I've had no contact with them since. I was hoping for a socialist take over which would renounce all student loans and debts. I guess it didn't happen yet. Damn.

[NMonk]

my question is how do they know how much money you're earning?

[monnymite]

Don't even contact them, I can't believe how bad the student loans company are. i was paying �33 a month on a 2.1 million Won salary... I came back early rang them up, they give me the merry go round.. even had to have my parents write a letter to say I am home.. (how ridiculous) I now keep having letters saying I owe �33..even though i paid for every month i was in korea.

I rang up saying why am i getting these letters, I got told to ignore them, following month another letter demanding money.. I cant even contact them cos of the snow in England, they aint even in work... With the amount of money borrowed, i am worried at how student loans are so amateur.

Good luck with em, try to go without contacting them.. or just say you are off travelling.

[Muffin]

I am rather worried as I forgot to inform them when I left for Korea nearly four years ago. I sort of assumed that because my payments were linked to the inland revenue and since I had told them I was no longer resident, it was all sorted.

Now because of this thread I have done some research and they say there are severe penalties if you go abroad for more than 3 months without telling them.

I now live in another country and do not work (legally at any rate). I believe my earnings in the years I have been away are below the threshold, but I am afraid of them picking up on my absence when I start paying tax in the UK again.

It is ten years since I took out the loan and I don't even have a record of my student number with me. My name has also changed but I guess they can trace me through my NI number. I have no problem with paying it back when I am back in work but I am just hopeless at admin.

I am torn between contacting them and owning up (as I don't think I owe anything anyway) and just keeping my head down and hoping for the best.

[monnymite]

[Muffin]

Thanks, I can sleep again:)

I sort of hoped that, I did work in the UK very briefly in 2007 and my deductions came out of my salary as normal and no one seemed to notice I had reappeared mysteriously on the job market.

[tzechuk]

[hugekebab]

[hugekebab]