Career Development Loans

[Rock Mommy]

I completed my MA using a career development loan in 1993. At the time I was not making anywhere near enough to fund the repayments, which were, at the time (I don�t know if it�s still like this now, or even if CDL�s still exist) non-deferrable. I called and spoke to them, and they advised me that my only option was to fail to make the payments, allow them to take me to court and then make a payment arrangement when I was found guilty. So, I just stopped paying, and never heard a thing. Since then I have moved many times and got married. It�s now over 10 years since the debt was accrued � does this mean that it is no longer valid � I�ve heard that debts become none chasable after a certain amount of time. Can anyone help me?

[Oneeyedvic]

If the company has not contacted you in the last 6 years, they cannot then chase for money. HOWEVER, if they have chased you but at previous known addresses, they may still havea case. Chances are that they will no longer chase you though. The debt will in all likelihood have been written off, possibly sold to a collcetions agency who can no longer be bothered.

[Oneeyedvic]

Sorry as a follow up, just been reading some trade mags - essentially even if they have been sending things to your old address it may be irrelevant as they could / should have trcaed you. I think you are on pretty safe ground now