Erudio asking for full payment of student loan

Dazza808 · 10 October 2016 at 3:34PM

I'm looking for some advice on how to deal with Erudio.

I've just received a letter from Erudio saying my student loan has matured and the outstanding balance is due in full, it's just under £2000, the loan was taken out in 1995.

I will admit I received a letter in February they sent me but didn't give it any attention because since taking the loan I've always been below the income threshold to start repaying so thought I didn't have to bother with them, I thought things would continue as they did under the Student Loans Company.

The letter in February stated they have had problems producing statutory notices that should have been sent to me since March 2014 but have now rectified the problem and sent me in the letter a few statements dating back to 2014 that should have received at the time, they said no interest would be charged over this period and would start again in March 2016.

The more I read about the horror stories dealing with Erudio I'd like to know what my next step should be, I am entitled to defer the payments, I can prove my last 4 years income from my self assessment with HMRC.

Any help greatly appreciated...

Dazza808 · 10 October 2016 at 4:12PM

Reading up further on this I may have a case here for the loan to be Statute Barred as I understand pre 1998 loans are eligible in certain circumstances.

I have not received any communications from the Student Loan Company since the 90's, never signed a deferment or anything.

Do I have a case to have the loan Statute Barred?

Brooker_Dave · 10 October 2016 at 5:54PM

Dazza808 wrote: »

Reading up further on this I may have a case here for the loan to be Statute Barred as I understand pre 1998 loans are eligible in certain circumstances.

I have not received any communications from the Student Loan Company since the 90's, never signed a deferment or anything.

Do I have a case to have the loan Statute Barred?

In that case it's statute barred, and Arrow Guernsey (Erudio's loan sharks) know it.

They are just trying to cheat you out of money.

Dazza808 · 10 October 2016 at 7:34PM

Brooker_Dave wrote: »

In that case it's statute barred, and Arrow Guernsey (Erudio's loan sharks) know it.

They are just trying to cheat you out of money.

The stunts they try and pull hey!, I didn't think student loans could be statute barred but on reading up on various forums it seems they can be before 98.

I certainly have had no contact for atleast 15+ years with the SLC before these debts were sold on by the government, first letter I received was February this year from Erudio.

To prove it could not be statute barred would they have to show me to have signed a deferment with the then student loans company or to have made a payment in the last 6 years?, I'm just thinking they may try to blag me again, I'm fully expecting them to ignore any letter I send stating the loan should be statute barred.

Brock_and_Roll · 12 October 2016 at 1:33PM

[QUOTE
They are just trying to cheat you out of money.[/QUOTE]

Thanks not quite technically true - the OP still owes, and will continue to owe the money, its just the debt holder cannot enforce the contract through the courts.

So their business model relies on buying these loans for a few pence in the pound then using whatever moral / quasi-legal pressure they can legally use to try and collect the debts. Presumably, some people, for various reasons, do pay up.

Erudio asking for full payment of student loan

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