SmartDebit Advises European Students To Pay Off Loans Via Direct Debit In Wake Of Damning Daily Mail Article

25 August 2012

Top Direct Debit Bureau SmartDebit recommends that these ex-students submit their earnings information to the UK government and set up regular direct debit payments to avoid receiving court orders from authorities actively asking for debt repayments.

After studying at a UK-based university, many European students then head back home to work in their home country. However, it has emerged this month that many of these EU residents fail to keep up their debt repayments, resulting in huge shortfalls for the Student Loans Company. In fact, a post in the Daily Mail has reported on recent figures that suggest these students still owe the UK £111 million for their education.

The issue has allegedly arisen because there is no system in place to collect regular payments from European students, while UK residents have their repayments automatically deducted from their wages once they reach employment. The Department of Business has commented that its departments do ‘actively trace those in arrears’, so international borrowers cannot expect to ‘evade their obligation’.

A representative from SmartDebit stresses the benefits of utilising automated direct debit services to pay off student loans in these circumstances.

“Students can choose to transfer money online, but this is a largely inconvenient way to pay and many will often forget to log in regularly and therefore end up skipping payments,” he explains.

“Direct debits take the hassle out of the entire process, as once they’re set up, they don’t need any further attention and will continue to deduct the correct amount from the student’s account until the debt is repaid.”

SmartDebit™ are the UK’s leading Direct Debit Bureau, specialising in payment processing services since 1998. A Bacs approved Bureau, scoring ‘Excellent’ in all five categories of the Bacs audit, and ISO 27001 compliant. Providing a complete range of services, including Outsourcing; SmartDebit-Admin cloud based portal; SmartDebit-Online payer sign up; SmartDebit-API integrated solutions and SmartDebit-Contingency.

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/8/prweb9826005.htm