ERUDIO student loans help

Chadsman

Student1983 wrote: »

Hi all. Update. My loan has been written off as I was 50 last week. Thank goodness. That stress has been sorted.

I bet you thought you would never look forward to your 50th quite so much. I am a couple of years away from my loans being written off. When that happens I will take great pleasure in telling them exactly what they should do.


My current deferment is about to expire. I have applied for another deferment but have not yet had anything back. What date in the month do Erudio try to collect payments- is it still the 15th of the month as in the days of SLC?

Pluthero

Student1983 wrote: »

Hi all. Update. My loan has been written off as I was 50 last week. Thank goodness. That stress has been sorted.
Contacted erudio to check if this had happened. Have to say their customer service was fantastic. They also said they would phone me back if I didn't want to be put on hold whilst they checked my status.
My story to date for those who don't know.
Was due to defer in October but did not want to use their form. Attempted to defer without it but they said my deferment was incomplete and in abeyance until I completed their Daf.
Meanwhile I insisted they took payment from me until my deferral was sorted as I did not want to have any arrears/ marks against me as I knew my write off was looming.
Despite the fact that I had a direct debit in place and despite the fact that I insisted they collect this erudio did not do this. I had to phone them and make a repayment. I did this to ensure there was absolutely no reason for them to call my account into disrepute. I also knew at this time if they did not cancel my loan I still had the opportunity to defer with their form and black out all the rubbish and hence backdate my payments. I decided that 2 months repayment was a price worth paying if all went according to plan. My repayment amount was coextensive. Erudio did not try to lessens the term not increase payment.
I also write to BIS 4 times my last email I had asked them to intervene on my behalf. I don't know if they did as I did not receive a reply. Meanwhile my payments cannot be reclaimed as I had not finalised my deferral before write off.
I am delighted that they are out of my life so happy to give them a few hundred despite the fact that I shou not have. If my write off was not imminent I would have played it very differently.
I hope this is helpful

Congrats on your loans being written off like they were meant to be under the original agreement you signed.

Your brief story just outlines Erudio's tactics very succinctly. Make the deferment/write off process so threatening that people actually insist on paying up when they do not have too!

I would seriously ask the Erudio/FOS to recover any money you are out of pocket. There is no need to use their DAF, you just have to show you are earning under the threshold.

ATB and happy Xmas to ya!

rizla_king

Might be worth talking to the lawyer who posts on here?

See if you can recover the money Erudio forced you to pay due to their illegal refusal of your deferment?

BorderReiver14

Hi Everyone

Just wanted to update on my experience thus far.
Refused to sign or return or use DAF as it is clear that just the act of using the form is potentially agreeing to changes of original T&Cs (I have loans from 96-99). Sent them evidence with letter plus a complaint.

Have had a standard letter back from ESL (with another form) stating that if I fail to return the form 'your monthly repayments will become due and if these repayments are not met your account will fall into arrears'

No acknowledgment of my complaint or that fact that my evidence shows I am under the level for making repayments.

I have sent an email (with read receipt) to them as refuse to waste money on recording mail every time I have to deal with this company, asking them to acknowledge my complaint (copy and pasted this with email) and to ask that if they could confirm that the evidence I sent was enough to prove I can defer and that they won't do so only on the principle of my refusing to use a form.

Now waiting... anyone else in the same boat? Equally, I am happy to take legal action if need be so will keep an eye on here and other boards.

Thanks to everyone who is taking up this fight

BR

Chadsman

BorderReiver14 wrote: »

I have loans from 96-99

As I understand it... as you will have loans some of which are pre '98 that were sold to Erudio and some post '98 sold to someone else your deferral application should continue to be processed by the Student Loans Company. Assuming this is correct it will make deferral much easier.


edit: I stand corrected.

BorderReiver14

Hi Thanks for the reply

Sadly I am not sure that is the case. I cannot remember where I read it but I think that refers to split loans. ESL seem to have taken control of all four of my loans from 96-99.

BR

fermi

Erudio bought both pre and post 98 loans. They have not reliably been split between companies by date like that.

So BorderReiver14 could well have all their with Erudio now and not be a "shared" borrower.

EDIT: Seems the case from the post above.

BorderReiver14

yep... and thus I assume my pre-98 and post 98 loans have different T&Cs hence one of the reasons I do not wish to use the form as it would essentially bring them all in to line. From what I have read that would be ideal for ESL.
Thanks for the reply

BR

Student1983

rizla_king wrote: »

Might be worth talking to the lawyer who posts on here?

See if you can recover the money Erudio forced you to pay due to their illegal refusal of your deferment?

Erudio didn't take my payment despite the DD being in place. They said because my account was in abeyance they would not take payment I.e as I was still attempting to defer. It was only because I insisted on paying them that they took it. With my write off being so close I did not want them to claim arrears. I don't know if that would have happened but I decided I did not want to run the risk.
Of course I can now start to fight for repayment.

BorderReiver14

Student1983 wrote: »

Erudio didn't take my payment despite the DD being in place. They said because my account was in abeyance they would not take payment I.e as I was still attempting to defer. It was only because I insisted on paying them that they took it. With my write off being so close I did not want them to claim arrears. I don't know if that would have happened but I decided I did not want to run the risk.
Of course I can now start to fight for repayment.

Congrats on the loans being wiped. Very happy for you :j