Those moving address must remember to inform loan providers
13th March 2008
People who are changing address should ensure that they inform their loan provider so as not to get "lost in the system".
That is the advice of Samantha Owens, head of personal finance at financial information group Moneyfacts, who urged consumers not to forget any debts that they might have.
She noted that this could apply particularly to university students, who are likely to move away from home after completing their studies.
Ms Owens commented: "If you take out one of the government student loans and you have your address with your parents and you leave university and move around, a lot of people might be getting lost in the system rather than purposely avoiding paying.
"If you are moving you should remember that you do have this debt and you need to keep your providers informed.
She added that failure to pay back a loan could prove damaging in the future, as it would leave people with a poor credit reference.