ERUDIO student loans help

Student1983

I have also received my statement. I have 2 separate interest rates for each month. I also only have 2 loans documented.
The first in 93 in which I did a 3 year course. The second in 96 where I did a post grad course in a different university.
94 and 95 missing although all lumped in as 1 for 93 I assume. As all add up correctly. My NOI balance was dated 1st jan 2014. My current statement dated 6th September has shown balance to end of August.
Can't fathom the statement out either but maths my weak point.

Student1983

I am due a cancellation in December. My statement shows that my repayments will be recommenced in oct 25 if not deferred. The amount is 162.23. However I have found out it is actually going to be 189 roughly.
There is no mention of requesting the whole amount but I wonder is that because they thought my loan was due to end in 2019. 25 age period. I had previously checked my loan cancellation with slc and this was when I reached 50. When I reminded Erudio they rechecked and said I was correct.
I am putting my deferral in tomorrow. Just got septembers payslip today.
Bet they will try to prevent my cancellation. However I know they cannot as it is enshrined.

Student1983

Update. Just phoned erudio. The instalment is the first one now quoted as this has been amended due to problems with the interest!

Granville23

Thanks everyone for the help about the deferment issue. I rang Erudio this evening and they have confirmed that I am deferred until April 2015 and that SLC will be responsible for the deferment.
What a relief that is and it has taken a lot of weight off my shoulders
:T:T:T

Student1983

anna2007 wrote: »

Completely forgot until reading this, I made several payments to SLC many years ago, so the 60 month repayment term would be reduced by the number of those payments, is that right?

I don't have a record of how many payments were made, but I'm sure it was for around 6 months, so still doesn't tally with the repayment figure.

My repayment as amended from the statement today could be either for my 60 months minus about 10 mths already paid therefore reduce repayment months left. Or as it is very close to the 25 years period as well it is difficult to say. The last time I checked my cancellation date I was given April 2019 until I reminded him about my birthday (present). And reminding him I had already been told I was due this cancellation at 50.

On another note do you know what the outcome on joint rental property income is viewed I read somewhere in this thread that they were taking the full amount and not half as per hmrc regulations. If it is the full amount it is problem now for me.

anna2007

Granville23 wrote: »

Thanks everyone for the help about the deferment issue. I rang Erudio this evening and they have confirmed that I am deferred until April 2015 and that SLC will be responsible for the deferment.
What a relief that is and it has taken a lot of weight off my shoulders
:T:T:T

Great news that SLC will be dealing with your deferments

Not sure from your previous posts, but did you already have a deferment in place, either through SLC or Erudio, taking you up to April 2015?

anna2007

Student1983 wrote: »

On another note do you know what the outcome on joint rental property income is viewed I read somewhere in this thread that they were taking the full amount and not half as per hmrc regulations. If it is the full amount it is problem now for me.

There was at least one case on here of Erudio doing that, but I don't think they came back to report the outcome?

If the property's jointly owned and Erudio say all of the income's yours, make a complaint to Erudio, then FOS, as there's no way that's fair.

Also, they might try to claim the actual rental amount is the income, so before allowable expenses are deducted. I don't know for sure, but makes sense that it's the profit element, so after deductions and the amount you're taxed on, which counts as income.

Mr_McGuffin

anna2007 wrote: »

But the "First Loan Payment Date" (from SLC to me) on Erudio's statement is dated 6 days before I signed the agreement.

Are there any implications there (other than it's yet another thing to add to the growing list of things they've got wrong)?

I don't know, but I'm sure it's nothing good.

Why are they defined with the wrong dates? The connection between the loans we actually took out and these statements is ambiguous. Would 'repayments' of these wrongly dated loans be repayments of our correctly dated loans? Nothing makes sense, everything is confused and incomprehensible. Are these statements entirely bogus?

anna2007

Mr_McGuffin wrote: »

Are these statements entirely bogus?

It certainly looks that way.

I think everyone who has errors on their statement (is that all of us?) needs to raise a formal complaint with Erudio, copy in the FCA, point out all of the errors, and demand a statement that's 100% accurate?

erudioed

I totally agree with that Anna. This is the most excited ive been about getting an annual statement ever. I wont be tearing this one up without reading it!