ERUDIO student loans help

nicki225

Despite my deferment being accepted by the SLC prior to the notification of the sale Erudio have today taken £133.33 from my bank account. This has caused me to go overdrawn.

I have spoken to one of Erudios advisers who was useless - he said that if I had a letter confirming deferment then that should be fine however stated that at the moment their systems cannot see who is/is not in a period of deferment. He also could not confirm when the payment, taken in error, would be refunded and that Erudio would not reimburse me for any bank charges incurred!

I am livid with the whole process

erudioed

that is a disgrace, how can they start taking cash if their system isnt even working correctly. Thanks for sharing that important info, it just verifies what many posters on sites were originally concerned about. I suggest the ombudsman after an official complaint, and the request for compensation based on their very poor performance. Were not going to get out of this one by being ground down. I suggest contacting outside interested parties mentioned in these threads. I am sure MSE will see your post and maybe have something else they can add into their article on Erudio. It is a shambles dealing with Erudio and if people knew what dealing with them felt like, that would be a whole other story about what/who these loans have been sold to!

rizla_king

Bank must pay you back immediately under the direct debit guarantee. If you incur any charges demand Erudio reimburses you otherwise you will go to the FOS.

jamminjamaica

I still think they are wrong about child tax credits being included and counted as income. Yes we had to declare it under student loan company deferment, but it clearly stated on the old form that it wasn't included to calculate income. I got more tax credits last year and I was able to defer. This year I got less and it brings me closer to the new income threshold.

jamminjamaica

fermi wrote: »

Just looking at my old SLC docs, and that is the case.

See the old form

fermi

Child tax credits are not in that list to be disregarded on that old form.

The disregarded benefits were as per word for word from the exclusion note:

War pension, Long Term Incapacity Benefit, Short Term Incapacity Benefit (at the higher rate), Employment and Support Allowance
Severe Disablement Allowance, Disabled Persons Tax Credit, Industrial Injuries Benefit, Disability Living Allowance, Severe Disability Premium and Disability Premium are not taken into consideration when determining income level but MUST be stated.

That tallies with the only legal exclusion under the SL regulations, which is for disability and related benefits only.

gunit11019

I also have 4 old style mortgage loans, and have recently had my deferment letter/application form from Erudio sent to me. As soon as I received it, it was clear that they were asking for more information that I thought was reasonable.

My loans have always been deferred due to not earning enough money monthly.

I have not yet sent the form back, however it does need to be with them prior to 26th of April, and I am well and truely unsure as to wether to return the completed form, or a letter as outlined earlier in this post.

I really don't like the idea that these loans, in deferment or not, may appear on my credit file. I really take exception to this in fact as I was only 16/17 years old when 2 of these loans were taken out, and they may now appear on my credit file some 18 years later? It really seems unfair.

erudioed

unfair, thats an understatement, how about psychological blackmail or punishment. And even after loans end after 25 years, it will still stay on your credit file for another 6 years from what i understand...and under what title this time "expired without payment". But as we are told by Erudio, BIS and Experian, that is seen as a positive by credit companies!

xv_biker1

The other thing making me angry is i wonder how many people if offered to clear the loan at the same rate erudio got them for, would have just been able to turn around to SLC and yep i can pay that and clear the loan there n then.
I know i would have cleared my £3500 for £180 even if it did make me struggle a bit.

gunit11019

It would be good to know if there have been any success stories with sending the letter rather than the form back to them?

I noticed last night that in fact one of my loans was in fact after 1998, and in the original letter erudio sent to me there was a slip asking for permission to release information to 3rd parties regarding this loan. I haven't returned this, and from what I could see it didn't say I had to.