ERUDIO student loans help

in Credit File & Ratings
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  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
    I am not sure the FCA is the place to go, im still not. If you click the unfair contract checklist above the form and select personal loan, the answer is that they are not the right people. I think the only places are MP and the email address for BIS posted in the forum. Maybe i am wrong...
  • rizla_kingrizla_king Forumite
    2.9K Posts
    erudioed wrote: »
    I am not sure the FCA is the place to go, im still not. If you click the unfair contract checklist above the form and select personal loan, the answer is that they are not the right people. I think the only places are MP and the email address for BIS posted in the forum. Maybe i am wrong...

    The forms are out of date. The checker refers you to the OFT for loans, credit cards etc. The OFT NO LONGER EXISTS. FCA only tool over responsibility for them yesterday, so they obviously haven't updated those forms yet.
    Still rolling rolling rolling...... :) <
    SIGNATURE - Not part of post
  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
    great rizla king, i shall try until they allow it.
  • Hi,
    I'm new to moneysavingexpert.com and have joined in my anxious state to try and fathom where I stand with the Erudio loans situation.
    My key points are.
    I took out student loans in 1996 and 1997, which now amount to approx £4,500. I have ALWAYS deferred with no problems under the process set out by Student Loans Company, because I have never been over the earnings threshold.
    Clearly, after all the points raised in this thread, I'm left very anxious, as I too now owe this money to Erudio.
    Last night I sat down to fill out the new deferment pack. Immediately, I detected a strong smell of fish.
    So I turned to the web and discovered just how scary this all is.
    I have to ask, all the info in this thread is from other members. There is no official line from anyone on where we stand as borrowers.
    My key points/questions are....

    *The new form asks for a range of details that were never asked for in the past, as well as a copy of my P60. The only one I have is for the previous year and it will be dangerously close to the deferment deadline when I'm issued with a new one.

    *In the past, I only needed to provide three last payslips. I have these photocopied ready and assumed it was all I needed to send. (I am still well under the threshold - and have no other means of income).

    *I have never, in the past, been warned that information on deferment will be passed to Credit Refernce firms. I have never defaulted on this or any loan.

    *I have always kept my address for student loans correspondence as my parents' address, as I've moved about a bit and it's always been easier this way, ensuring I always receive the deferment papers. I believe this was an honest approach by me too, given that I wasn't going AWOL and was always contactable by student loans.

    *If I DO sign their form and provide the P60, it gives my actual home address. I don't want correspondence coming here. It's a rented flat and I'm likely to move soon. Either way, my current P60 is my last one anyway, as I explained.

    *Erudio have set up a direct debit on my account. Student loans NEVER did this, but they've obviously done it using the original bank details I gave to the SLC, as I've never changed accounts. Are they allowed to do this? I didn't take the loan out with a debt recovery agency and I've never given anyone or anything called 'Erudio' permission to access my bank account, especially in such a back door and un-announced way. I daren't cancel it in case Erudio claim I'm breaching their terms.

    *A lot of people on forums are discouraging the use of Erudio's deferment form in favour of instead using one of the templated letters, along with the same proof (ie three payslips) SLC always asked for.
    I'm scared to do this, as Erudio might decline it and this edges me yet closer to the deferment deadline, in a situation where they already have a direct debit set up and will immediately start sucking money out of my account on May 19.

    *Overall, I know I have a low enough salary to be deferred. I'm well under the threshold.

    *It's almost as if Erudio are basically saying "Yes, the terms of your original loan apply, but only if you additionally sign a form of our terms and agree to us notifying CRAs that you have a deferment in place".

    It seems very underhand and I'd love someone to give bone-fide advice, based in legal fact, on how to ensure we are held to only what we signed up to when we took out the loans.

    It's scaring the wits out of me and I don't seem to be able to find kosher facts about what I should do.
    Any viable advice appreciated.
    Cheers. x
  • edited 3 April 2014 at 11:37AM
    aberwales2013aberwales2013 Forumite
    3 Posts
    edited 3 April 2014 at 11:37AM
    hi,

    im a single mum of 3 doing a phd. the student loans company are taking my benefits and child Maintenance into my calculations and class them as income. so i end up just above their threshold value. they have told me over the phone therefore i will have to pay £130 a month. i dont have that money. the money i receive is for my kids. it is not my money to use. im trying to find out where i stand. councils dont take child Maintenance into account as income, or child benefit. Tax credits dont take my education grant into account. im given the bare minimum to live off and adjusted by the council if tax credits goes up. i have no taxable income at all.
    anyone have any facts or advice? can they take child Maintenance as being income.

    thanks
  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
    also refer to this concurrent forum...especially you BaffledByErudio:
    http://www.mumsnet.com/Talk/legal_money_matters/2028211-erudio-student-loans?pg=1
    All your necessary answers will be as clear as mud there, as here. But you have the consolation that you will find you are not alone in wanting answers to your specific concerns. Around p13 and just before, there are some potential places to contact, but it is all rather experimental right now.
    We all need to try and find answers. But as a rule of thumb, lodge an official complaint with Erudio, it is relatively painless, and then you will get up to 8 weeks where you account will be frozen until you get a reply. But any work you can do in finding out any answers to your issues, please do post back.
    Get your tin hat on though...and welcome to the one of the most unhappy band of brothers and sisters you will find on planet earth!
  • they said i have to fill in a form of all my expenses. feels awful and if they still feel my kids benefits are mine to spend then they will still sting me and affect my kids by demanding £130 a month. But this is money allocated for them and thus im robbing my kids of clothes etc. grrr:mad:
  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
    is this Erudio or SLC you refer to?
  • erudio. old style loans 97 98 99
  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
    unfortunately, the only advice i can offer is pick the comments from the forums that you think sound like the best approach for your concern.
    But, i hope it is a path that means logging an official compliant first with Erudio, and then other places you feel may be able to help find out if it is a breach of the T&Cs. I feel it is best to fight for such things right now and find an answer to your problem because if it means paying something when you should 'legally' (whatever than means with this issue) be able to defer then that would be a deceit you would have had pulled over your eyes by Erudio, and a real shame because you need all your cash just to make ends meet. Not lining the pockets of this bunch and their probable tax haven like web of a business structure.
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