ERUDIO student loans help

Sarebear78

gardenia101 wrote: »

I've been using a small amount of it to support myself & fund my recent drop in hours since I've been struggling to cope at work health wise for months. I feel much better for being able to do this & hopefully my health will hold out for longer than if I were still working those extra hours. I'm sure I won't be able to work even at this level until retirement, so assume my savings will be used up in the not too distant future.

They'll see from my bank statements & from my interest earned that I have savings, & I was going to send a tax return copy to prove my annual savings. I'm still sure on the one hand that as its not earnings then they can't count it & I'm worrying over nothing - but when they see I do have some savings, well they'll try & find a way to force me into paying.

I sent in details of my interest from savings but not of the actual savings themselves and got deferred. How much you have in savings is none if their business! Your 'gross income ' is in the three months before deferment What you have chosen to do with that income over the years (ie save it rather than spend it) is not in our terms and conditions.

anna2007

gardenia101 wrote: »

OK - the next hurdle to jump over.

DAF section 8a says - you should complete this if you currently suppor {seems they can't spell either } yourself using savings accumulated in other years.

So to me that is capital since interest earned from savings in dealt with in section 5. I don't like the fact that they've insisted we report annual interest/12 rather than interest received in the relevant month etc as per the regulations. But neither method of reporting puts me over the threshold.

Capital reported in section 8 doesn't need to be included in the total gross monthly income, so I'm still well under the threshold.

Anything declared in sections 4 to 8 of the DAF is included in the gross monthly income figure (in typical Erudio fashion it's not very clear, but on page 14 of the DAF guide, anything declared in section 8, e.g. savings used to support yourself, should be added under "Other".

From what I remember of the revised DAF and guide, I think this has now been removed - maybe because what any of us choose to do with our savings is none of Erudio's business!

anna2007

Read a Telegraph article today on Arrow Global - looks like we haven't completely put them off the idea of buying up further student loans - although I like to think we played a part in those dips in share price

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11260871/Arrow-Global-ready-to-buy-up-more-debts-though-student-loans-are-off-the-table.html

PoppyR_2

gardenia101 wrote: »

They'll see from my bank statements & from my interest earned that I have savings

Just cross it out with a permanent black marker so they can't read it. Only give them the info they've asked for, i.e. income figures. You could have 500k sitting in another bank account they know nothing about. Unless you told them. And even then they couldn't touch it because it's not income.

anna2007

Not sure if this has been posted on the forum previously, but looking at the Privacy Policy on Erudio's website:

"We are dedicated to safeguarding and protecting your privacy when visiting our website or communicating electronically with us"....

"By visiting https://www.erudiostudentloans.co.uk you are accepting and consenting to the practices described in this policy"....

"Disclosing your information

Where applicable, we may disclose your personal information to any member of our group. This includes, where applicable, our subsidiaries, our holding company and its other subsidiaries (as such terms are defined in section 1159 of the Companies Act 2006) (if any).

We may share your information with selected third parties including:

business partners, suppliers and sub-contractors for the performance of any contract we enter into with them or you.

analytics and search engine providers that assist us in the improvement and optimisation of our site".

Usually a privacy policy shown on a website relates to info transmitted via the website (maybe Erudio will get around to online account access eventually but I doubt it as that would mean investing money!), but as there's no privacy to be safeguarded and protected simply by visiting their website, this privacy policy must surely only refer to "communicating electronically", so by email?

I doubt if it would be legal, but I wouldn't put it past Erudio to imply I've given consent because I've quoted from their website in previous emails!

http://www.erudiostudentloans.co.uk/tools/privacy-policy.htm

ericctheking

by visiting Erudio's website you probably have consented to tracking cookies and IP address finders so they know exactly where to find people they "lent money to"
What a joke they never lent money to anyone!

dizzybuff

Gonna start putting a disclaimer on the bottom of my emails to them. Hmmm something like I do not consent to sharing of my information in this email or any other message sent. This disclaimer overrides any previously signed documentation... Or something to that extent.

erudioed

I just rechecked the job advert Rizla King posted yesterday and it seems after some mentions yesterday, one section has just been removed. Here is the bit that was removed, with the bold added by Rizla King yesterday:

Erudio has invested £11m in acquiring the student loans. There remain around 300,000 borrowers still to repay the debt from more than 15 years ago – it is these that will be targeted by Erudio.

Strange that that was the part that got a few mentions yesterday. Seems we have eyes monitoring the Arrow Global brand damaging chat, or revealing BIS' secret!

Pluthero

erudioed wrote: »

I just rechecked the job advert Rizla King posted yesterday and it seems after some mentions yesterday, one section has just been removed. Here is the bit that was removed, with the bold added by Rizla King yesterday:

Erudio has invested £11m in acquiring the student loans. There remain around 300,000 borrowers still to repay the debt from more than 15 years ago – it is these that will be targeted by Erudio.

Strange that that was the part that got a few mentions yesterday. Seems we have eyes monitoring the Arrow Global brand damaging chat, or revealing BIS' secret!

No surprise there! That's erudios tactics in black and white. We are all criminals for trying to defer our loans. They have just classified ALL of them as debt!

fermi

Click thumbnail below to see original advert.