ERUDIO student loans help

in Credit File & Ratings
6.6K replies 872.8K views
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  • want_to_savewant_to_save Forumite
    401 Posts
    Eighth Anniversary 100 Posts Mortgage-free Glee!
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    unfortunatey when I called them to ask why I was sending sooo much information they said I had to. So this year that's what I have done I can ill afford them to find a way to make me pay.
  • pbs84pbs84 Forumite
    31 Posts
    You don't have to.

    All you have to send is proof of gross income.

    Alll the rest is a con job to get extra info out of you they are not entitled to.
  • Ok Eric see what you're getting at though they have no obligation to accept the letter and evidence as I see it and will demand you complete their forms to qualify for deferment. This being the case what would be the next step in your opinion?
  • edited 21 March 2014 at 1:50PM
    pbs84pbs84 Forumite
    31 Posts
    edited 21 March 2014 at 1:50PM
    There is no requirement to complete their forms to qualify for deferment.

    You are entitled to defer if you can prove gross income is below the thresahold. Their is nothing in law or in the agreement that says it must be done via those forms .

    You can just write a letter if you want requesting deferement with the proof of gross income.
  • Well my current deferment period is until 25th May. So I might just try what you say and see what their response is.
  • pbs84pbs84 Forumite
    31 Posts
    That is the thing. They are trying to panic people into returning the forms and giving all that uncessary info and permission to mark your credit files.

    They desperatley don't want people to stop and think, "no they aren't actually entitled to that info", and "no you don't actually have to use their forms to make a valid legal deferment".
  • ericcthekingericctheking Forumite
    328 Posts
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    Ryansson wrote: »
    Ok Eric see what you're getting at though they have no obligation to accept the letter and evidence as I see it and will demand you complete their forms to qualify for deferment. This being the case what would be the next step in your opinion?

    Yes, they will probably demand you complete their forms and probably deny you deferment, then they will say you have arrears on your account so please call this premium rate phone number immediately to arrange payment etc. threats of court more threats etc and they might even take you to court which you will have to defend because if you don't they will get a judgement against you automatically. This is only my opinion but I think if it went to court you would win (they might not even turn up) and would be entitled to defer.
    Anyway it is up to you but you have too options really;
    1. Just doing as they say and probably ending up paying money you were never entitled to pay, and the full amount.(possibly more even)
    2. Standing up for yourself and your rights but there might be lots of stress and this is Erudios game plan a lot of people will be like oh I'll just pay the money to avoid the hassle and stress.

    At the end of the day it's a bit of a poker game with bluffs etc
    We may do this.............. we may do that..................

    One thing I would say with Erudio not being the original creditor and buying this at a discount they might just ignore or make token efforts for the hard to get debt and sell that on for an even bigger discount, for example people who have moved overseas and disappeared/ maybe even people who are legal ed up and knowledgeable and will fight them hard and can get them on technicalities.
    On the flip side they may well just pressure easy targets and get them to sign agreements with them etc. that change the whole game.
    Remember how these loans where sold to you as being different to regular loans so you shouldn't worry (they won't be recorded on your credit file, if you don't earn over the threshold you won't have to pay them back, written off at 50 etc.) and then they get sold off to some clever people who change things with clever wording.

    A final word on morality here.... to them this is just business, if someone pays more than they should, if someone pays when they weren't entitled too, if they take these loans and destroy the whole spirit they were issued in it matters not one bit to them, What matters is there return on investment.
  • ericcthekingericctheking Forumite
    328 Posts
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    Ryansson wrote: »
    Well my current deferment period is until 25th May. So I might just try what you say and see what their response is.

    Good on you Ryansson.
  • edited 21 March 2014 at 2:24PM
    pbs84pbs84 Forumite
    31 Posts
    edited 21 March 2014 at 2:24PM
    You just tell them that if they won't accept the deferemnt then you will take them to the FOS and report them to the authorities.

    They seem to be buckling with other people so for on things like providing bank details, so they may well on the rest as well. Some have been told to just cross out the bits on the forms they are not prepared to anwer becasue they are not needed to prove gross income.

    Arrow may be daft, but doubt they are daft enough to go to court when you can prove you made a valid deferemnt request. There would be a huge shlt storm of bad publicity.
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