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  • FIRST POST
    TazFrank1
    ERUDIO student loans help
    • #1
    • 16th Mar 14, 10:32 PM
    ERUDIO student loans help 16th Mar 14 at 10:32 PM
    HI,

    My student loan has recently been sold to erudio student loans company. I currently defer my loan as I am below the salary threshold to pay it back. The letter states that erudio will supply details of my loan to credit rating agencies, something that has never been done before. There have never been any details of my student loan on my credit file. Will this adversely effect my credit score?? I know I am right to defer as I do not earn enough to start paying it back, however, I am worried that a 10k student loan debt that has not been paid off can only be a bad thing for my credit score

    thanks
Page 304
    • Brooker Dave
    • By Brooker Dave 11th Apr 17, 10:09 AM
    • 4,830 Posts
    • 3,120 Thanks
    Brooker Dave
    I am paying back far less than the original loan ...that's a win for me . they are getting back far more than they paid the government for my loan ...regrettably that's a win for them.
    The flag on my credit accounts is a bitter pill but maybe it will mean no more loans no additional rent or mortgage to pay and no useless mobile phone deals.
    Originally posted by Simple student
    But if you are eligible to defer, and end up bunging them, and worse still have your credit file marked, what have you achieved?

    May as well ride it out until they are written off.
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • Lungboy
    • By Lungboy 11th Apr 17, 12:06 PM
    • 1,077 Posts
    • 1,033 Thanks
    Lungboy
    But if you are eligible to defer, and end up bunging them, and worse still have your credit file marked, what have you achieved?
    Originally posted by Brooker Dave
    Never having to deal with Erudio ever again is a pretty big plus.
    • anna2007
    • By anna2007 13th Apr 17, 12:25 AM
    • 1,182 Posts
    • 2,079 Thanks
    anna2007
    There's no doubt it's a huge plus Lungboy, getting rid of Erudio/Arrow Global DCA scum that have no right to have any place in our lives But Brooker Dave's right - if we end up settling when we're entitled to defer, then Arrow Global profits, so they win.

    It's easier for me to say that when my loans are due for cancellation next year (if it happens as it should under the t&c's), but no-one should be paying a penny when entitled to defer - 50% of the full loan is a fcuking terrible deal when you owe the DCA nothing at all.
    • Brooker Dave
    • By Brooker Dave 13th Apr 17, 12:33 AM
    • 4,830 Posts
    • 3,120 Thanks
    Brooker Dave
    There's no doubt it's a huge plus Lungboy, getting rid of Erudio/Arrow Global DCA scum that have no right to have any place in our lives But Brooker Dave's right - if we end up settling when we're entitled to defer, then Arrow Global profits, so they win.
    Originally posted by anna2007
    Maybe a quick way to win even more is get people to post to forums saying that the way to end the erudio/arrow/carval nightmare is to agree to pay a lump sum?
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • Cook1e
    • By Cook1e 13th Apr 17, 9:34 PM
    • 21 Posts
    • 14 Thanks
    Cook1e
    Oh the joy! it's that time of year again! I also got a letter enquiringl that they have not received my online application and can the help. They have thought hard to try and get people to jump on to the online form at this years meeting. Yes they can help ! , they can send me a deferment form in the post like most years. I have not agreed that I would fill in an online form so why were they expecting that one!
    • Lungboy
    • By Lungboy 13th Apr 17, 10:03 PM
    • 1,077 Posts
    • 1,033 Thanks
    Lungboy
    They start the letters and emails about deferring online 12 weeks out instead of 8, so you can have 4 weeks of it until any paperwork appears.
    • Cook1e
    • By Cook1e 14th Apr 17, 9:47 PM
    • 21 Posts
    • 14 Thanks
    Cook1e
    That's so nice of them
    • lucypuppy
    • By lucypuppy 19th Apr 17, 2:33 PM
    • 3 Posts
    • 2 Thanks
    lucypuppy
    Hi Guys,

    I'm probably going to get slated for this, but to be honest I just cant be bothered with the waiting and wondering if Erudio will get their act in gear and send out the DAF's.

    I applied on the portal to defer my loans (shock horror). Was quite easy, gave them the bare minimum details they needed as I would normally do with the paper DAF, attached my 3 payslips, showing that I earn way less than the threshold and submitted, got an instant reply email stating that they will take up to 28 days to reply - yada yada.

    Just received another email from them just now say I have successfully deferred. Nothing unusual there, I'm under the threshold, nothing else in my circumstances have change, however this whole process has taken less than 4 hours!!!!

    Now over the past 3 years Erudio have been a pain in the butt with me. They can't read payslips. They've lost the paperwork. They don't have my phone number and they need it (no they don't). I've contacted FOS every year I have had to defer and complained to Erudio every year also. For me the process has normally been a nightmare and I'm ticking off the years until I don't have to bother with these clowns anymore and I was expecting some sort of fight with them again this year.

    But 4 hours to grant a deferment? WOW . Could they finally have gotten their act together this year?
    • plong979
    • By plong979 19th Apr 17, 3:21 PM
    • 103 Posts
    • 175 Thanks
    plong979
    Could they finally have gotten their act together this year?
    Originally posted by lucypuppy
    That would be a no considering you just said at the start of the post that you are still waiting for the DAF.

    Also considering that you contact the FOS every year to complain about them, I'm just wondering why you never did this year especially as you have still yet to receive the DAF?
    • lucypuppy
    • By lucypuppy 19th Apr 17, 3:50 PM
    • 3 Posts
    • 2 Thanks
    lucypuppy
    Yes granted I normally have my DAF by now but I'm not due to defer until June, it was May, but conveniently they extended the deferment period last year when they ballsed it up.

    As of yet I don't really have anything to complain about and for an easy life for myself I just wanted to be deferred in the least stressful way possible, hence why I used to portal. Not everyone will agree with that but it was my choice at the end of the day.
    • Lungboy
    • By Lungboy 19th Apr 17, 9:26 PM
    • 1,077 Posts
    • 1,033 Thanks
    Lungboy
    I hope agreeing to their new terms doesn't come back to bite you on the bum.
    • anna2007
    • By anna2007 24th Apr 17, 12:50 AM
    • 1,182 Posts
    • 2,079 Thanks
    anna2007
    But 4 hours to grant a deferment? WOW . Could they finally have gotten their act together this year?
    Originally posted by lucypuppy
    The quickest (paper - don't know anyone willing to use portal) deferment I know of with this shower of shysters was within 24 hours, so 4 hours is the new benchmark for both paper and online applications. Scanned payslips uploaded via the online portal must be poorer quality than photocopies sent through the post, so at least that's one of Arrow Global's delaying tactics in tatters.

    I received my DAF on Friday, one week late. Same delay as last year - paperwork printed on 13/4, covering letter dated 14/4 (but also printed 13/4), received by snail-mail 21/4. Why not send it out first-class on the day of printing, so it arrives on time? Or if that's too much of an ask, set the print-run one week earlier? Easily sorted and would do wonders for Arrow Global's reputation I'm sure... they abide by the 8 week rule and also have more time to process the DAF - a win-win for their reputation really.

    It's a new DAF, now 1 sheet of A4, double sided, plus less than a page of additional information, about supporting evidence required and a bit on additional benefits. NOTHING on data processing/sharing. So it's similar to the SLC's old paperwork ... maybe Erudio/Arrow Global felt bad about killing all those trees with their 6 page DAF and 20 page 'how to' guide? There's a copy of the new paperwork here:

    https://www.dropbox.com/sh/u5q25dcxpkqyo4b/AACABgKydzrkoFrTN-eA3pypa?dl=0

    The DAF took 5 minutes to complete, but there are a couple of things worth pointing out. Section 1 asks you to confirm that the name and address on the covering letter are correct, you only complete this if they need to be updated. I was paranoid about wary of sending a DAF that doesn't actually have my name and address on it, when Arrow Global think it's necessary to now cover this at section (e) of the declaration (wasn't part of previous DAFs). Just looks and feels dodgy, so I ticked 'yes' at section 1 of the DAF and filled out my name and address anyway. I did score through a wee bit of section e) too but I can't see how they can argue with adding your name and address to a DAF!

    There's a QR scanning-type-thingy (square to the left of the wise Erudio owl), which I've blanked out on the Dropbox copies as I'm guessing it's unique and used by them to identify my account. The square is on page 1 and page 3 (additional info), but not page 2 containing the declaration/signature, so I added their 16 digit reference number at the top of the page and also wrote my 3 original loan account numbers under my signature (remember those, i.e. the original loan agreements we signed up to?) They don't appear on any paperwork from Arrow Global now, so there's no harm in reminding them.

    3 versions of the DAF in the 3 years Erudio/Arrow Global have owned the loans... I'm sure they'll get there eventually
    • Lungboy
    • By Lungboy 24th Apr 17, 6:51 AM
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    • 1,033 Thanks
    Lungboy
    I seem to remember they consulted over v2 of the daf, looks like they didn't bother with v3.
    • anna2007
    • By anna2007 24th Apr 17, 8:12 AM
    • 1,182 Posts
    • 2,079 Thanks
    anna2007
    Yes, it's in the SPA that BIS/DfE must approve any revisions to the DAF, could have been done behind the scenes?

    It's clearly just a rubber-stamping exercise anyway, otherwise how can the Government justify agreeing to the 26 page monstrosity with all of the data processing crap, versus this new 3 page one?
    • martybhoy79
    • By martybhoy79 24th Apr 17, 3:08 PM
    • 4 Posts
    • 4 Thanks
    martybhoy79
    sent off my deferral form over a month ago recorded delivery no response yet! assuming they ask for more info or have knocked it back ? how long do they normally take to get back to you ?
    • Sarebear78
    • By Sarebear78 26th Apr 17, 8:08 PM
    • 146 Posts
    • 232 Thanks
    Sarebear78
    sent off my deferral form over a month ago recorded delivery no response yet! assuming they ask for more info or have knocked it back ? how long do they normally take to get back to you ?
    Originally posted by martybhoy79
    I have actually been deferred (phew) and it took about 2 weeks from the day they received it. Best of luck x
    • anna2007
    • By anna2007 27th Apr 17, 1:06 AM
    • 1,182 Posts
    • 2,079 Thanks
    anna2007
    sent off my deferral form over a month ago recorded delivery no response yet! assuming they ask for more info or have knocked it back ? how long do they normally take to get back to you ?
    Originally posted by martybhoy79
    Their covering letter with the DAF states 28 days to get back to you. Make a formal complaint now, to get the clock ticking for a complaint to FOS (anyone whose DAF was late can get a formal complaint in straight away, tie it in with getting deferment in time, which puts pressure on Arrow Global to process the DAF before deferment end date, as they only have 8 weeks to sort out the complaint).

    Here's another idea - address the complaint to both Erudio - complaints@erudiostudentloans.co.uk - and Arrow Global - customerresolution@arrowglobal.net - and say you're officially opening a complaint, but because Arrow Global administer the loans on Erudio's behalf and Arrow are the FCA regulated firm (Erudio are now exempt from regulation), you'll be seeking advice from FOS on who the complaint should be directed to - if Arrow Global think their complaints record will take a hit, it might be enough to put a stop to any delays and messing people about? Arrow's complaints data is here, apparently they resolve nearly half of the complaints within 3 days.

    It's taken a few days for Erudio to confirm my own deferment the last 2 years, someone on here reported 4 hours. Sarebear's recently been deferred in good time. A trained monkey could check the submitted evidence to the declared income in 5 minutes. They're at it if you've not heard anything a month after applying.
    • Bungaroosh
    • By Bungaroosh 3rd May 17, 12:51 PM
    • 20 Posts
    • 9 Thanks
    Bungaroosh
    To those who received the "we haven't received your online deferment" letter: what did you have to do to get them to send out the DAF through the post?

    I really don't want to have to phone them and I will not be emailing them as I don't want to disclose any email address to them as I want to keep everything in writing and have a paper trail and record of all my dealings with them.

    I would consider sending a postal request for the DAF as part of a formal complaint though as this is a devious tactic of theirs -- sending out such a letter. My first thought when I read it was "Oh heck, have the forms got lost in the post?" but then of course this has been their tactic with everyone this year. Gits.
    • erudioed
    • By erudioed 3rd May 17, 12:58 PM
    • 629 Posts
    • 919 Thanks
    erudioed
    anna2007 posted a downloadable version of the DAF: https://www.dropbox.com/s/100mr3tdtp0xr8z/Erudio%20New%20DAF%20Blank.pdf?dl=0

    Make sure you put your account numbers in the boxes and such things! But maybe someone can just confirm this is still ok to use.
    • Lungboy
    • By Lungboy 3rd May 17, 1:05 PM
    • 1,077 Posts
    • 1,033 Thanks
    Lungboy
    Just create a throw-away email account with gmail or whoever.
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