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ERUDIO student loans help

16 Posts
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 :eek:
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 :eek:
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I am now 60 and qualify for them to be written off. I have been in touch with Erudio, and they agree I meet the criteria over the phone, they say the computer shows the loan as written off.
But my problem is getting conformation in writing.
I have spoken to them on four occasions and have been told a letter is already in the post. They say they can't confirm it by email but no letter has arrived.
Should I be worried ?
It sounds like what Erudio are trying to pull off is this;
Pre-1998 loans should be put on your credit record if they are in defult (this is in the terms and conditions)
The deferment forms that Erudio send out state that;
On page 5 (underneath Certificate and Warranty signature box):
WARNING:
In accordance with the terms of your original agreement We have the right to undertake checks to confirm you are eligible for deferment.
Accordingly therefore, by submitting this application you confirm that you consent for Erudio to perform relevant checks at CRAs and Fraud prevention agencies.
If your application for deferral is accepted, information that you have a deferred loan will be registered with CRAs.
Erudio will argue that you have made a new agreement with them.
People are more likely to pay (when even not entitled to) if they find outstanding loans effecting their credit report.
This is just one example of their sharp practice along with asking for data they aren't entitled to.
Student loans should ONLY be put on your credit record if they are in default.
Loans in deferment are NOT to be reported.
Erudio are trying to trick you into letting them put loans that are not in default on your record is what I'm trying to say.
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed
It is clear as day in the T and Cs.
Yet on the Erudio's derferment forms they are trying to get your consent to do this to people who haven't broken the agreement.
THEREFORE I URGE EVERYONE NOT TO FILL IN ERUDIO'S DEFERMENT FORMS.
It is clearly a trick to get you to sign a different agreement with them.
YOU ARE HANGING YOURSELF IF YOU FILL IN AND SIGN THESE DEFERMENT FORMS.
Personally I feel sick that my SL has been sold off in this way. I had to go BR in 2007 and as a govt loan it could not be included in my insolvency. If my BR had happened now I wonder if things might be different?
My CR is fine now and I loathe the idea it could be affected by this company just for deferment of loans should this really be the case.
I am saying send in your evidence as usual with a covering letter.
Keep to the agreement by sending evidence you are below the threshold but ignore the forms they ask you to sign.
This is the alternative