SLC sold my student loan to Erudio with ONE payment remaining!

tking

So annoyed! My last EVER student loan payment is due to be taken out of my bank tomorrow (about 24 quid) and I logged on the SLC website today to see a message that my loan has been sold to Erudio! Are you kidding. This is such a pain - I can't believe it.

I am expecting no end of hassles making sure they take the correct amount, don't take too much, don't take extra payments etc. If they do stuff it up it's a pain to sort out as I'm in Australia and the time difference and the fact that I only have enough in my UK account to cover this payment makes things messy.

SLC - you've heard it before and you'll hear it again - you are utterly hopeless numpties.

Anyone have any experience of Erudio or advice?

Poolie

Did you not receive the letter from SLC letting you know your loan was going to be transferred?

SLC should have updated all the Direct Debit details so the payment goes direct to Erudio, so there should not be a problem.

tking

Thanks for your reply - I hope that's the case. I'm just dreading any kind of stuff up. I had hassles with SLC taking multiple direct debits at the start when I began to pay it off and just want it finished. DD due out yesterday and no sign yet - fingers crossed it's all fine and just delayed.

Thanks again.

WLITC

They sold mine with zero payments to go. I cleared it at the end of Jan and I get a letter today. Hoping there is no screw up in the transfer but going to have to call them tomorrow for peace of mind.

Smick100

I have had mine sold and haven't received a letter. I believe I have one payment to go but when I phoned them, they have told me that I am £315 in credit. Not only that, but they are entirely unable to refund that credit.

They seem to be extremely incompetent.

WLITC

Clearly thousands of letters have gone out and their aren't equipped to deal with the response. I finally got through to them earlier after getting an engaged tone about 7 times. After another 10 mins on the phone they finally confirmed my letter had been sent in error.

quaveriw

Mine's been sold to them too, but only found out after reading the OP's post, and logging on to the SLC website - I have a year of repayments left, so hopefully no problems, but will be keeping a serious eye on my account now!

No correspondence from Erudio though!

Smick100

I finally got through to them. Apparently my last payment made to the loan was on 28th Feb and the loan transferred to Erudio on the 1st March.

For some reason SLC have only required half payments from me for the last four moths of my loan, leading to a credit balance. I didn't notice it as the same amount was going out.

Although the loan had completed at that date, it has transferred to Erudio because of the credit balance.

I have asked for a refund of the credit balance and have been told that their systems are not yet set up to process refunds and they want me to phone back on Friday to see if it is working yet.

Bunch of jokers!

building_with_lego

I had my deferment letter come through yesterday, and discovered that my last loans have been sold- my first one was sold off in the very first round, years ago.

It would have been nice to have been told!

kathrynha

building_with_lego wrote: »

I had my deferment letter come through yesterday, and discovered that my last loans have been sold- my first one was sold off in the very first round, years ago.

It would have been nice to have been told!

Yes, slightly late with the deferment letters this year, and the form is a lot longer than the previous one. Guessing they are going to make defering harder, so that people dont bother. Need to get mine ready to send back before the weekend.

building_with_lego

I got my same-as-last-year form in February, as usual, and got the confirmation yesterday, which was a huge delay!

What's your form like then? And is it from SLC or one of the other companies?