ERUDIO student loans help

dizzybuff

I will try and reply tonight. I've just had a mini attack. Trying to calm down.

fermi

jobbyjobster. I would add that the delay in deferment was not your fault, but a result of SLC/Thesis/Erudio arguing amongst themselves as to who was responsible, and that if they refuse to backdate and cancel the resultant arrears you will be taking them to the FOS.

anna2007

fermi wrote: »

Seems like Erudio keep tripping over themselves then, having to send letter to correct it, find they are a bit wrong, then have to correct that, in the meantime something else has happened which requires another correction, but they don't make it clear what!

Or that sort of thing anyway. :rotfl:

Yes, Erudio's strategy of creating confusion seems to be backfiring a little... not much affect on the customers, but working a treat on the Erudio chimps:D

dizzybuff

I suppose I better start figuring where I'm gonna get the money for the arrears from. Ad Dec will mean it's about 300 and the ombadsman is taking their time.

Cook1e

A complaint with the ombudsman does not stop you going into arrears.

In a technical sense, anyway, in so much that Erudio must still send the required legal notices under the Consumer Credit Act 1974.

The arrears may get wiped out if your complaint is upheld, but in the meantime the legal admin of the account under the CCA must continue.

Fermi that's interesting. This will explain the £600 of arrears which built up due to erudios poor process and communication this years which was eventually wiped when I sent all the correspondence in a complaint. Although when I got the answer another page with unexplained arrears was present. So I sent another letter saying this was incorrect and got my final letter which says I'm deffered along with more arrears. So are saying in the time it takes to get the incorrect arrears wiped the time taken creates more arrears under the CCA as they have to follow legal admin. So this circle could go on and on?

dizzybuff

Spoken to my freind today who also received an arrears notice she spoke to erudio who said some of them had been sent out in error. It's taken erudio ten months townshend me out two arrears notices. I'm.distraught it's taken so long. An administration error or the pittyful excuse they have put on the letter is unacceptable.

GinOClock

I too have received one of those Remedy of Account notices. The entire situation is a shambles. I still cannot believe the Government sold our loans to such a dreadful company, which essentially puts me in the company of about 250,000 other people.

I haven't paid any interest whatsoever on my loans since 2009 due to the earlier mistake from SLC. Erudio sent some documentation in the summer claiming the entire situation was rectified, that they had worked extremely hard to resolve the important issue, and provided me with historical notices of arrears. I was deeply moved. However, my statement in September had no interest added for the entire year - the opening and closing balances were identical. There was no attempt to explain this.

I gather from the letter I received today that they have had to keep waiving the interest as further arrears notices they sent me in August/September 2014 were incorrect. They were, of course, completely inaccurate as they could not even get the number of months I was in arrears correct. I gather from the letter they could not get the documentation correct in August/September 2014 as they were too busy working on the documentation they had already sent me in June 2014. Priceless.

Of course, the whole reason I got the arrears notice in the Autumn is because I have been fighting it out with them for over 6 months on whether I need to fill in a DAF from Erudio under the Regulations for deferment.

The silver lining is that I haven't paid interest on the loans for over five years so the debt has been inflated away somewhat.

fermi

http://fshandbook.info/FS/print/FCA/CONC

The FCA requirement while a dispute has been referred to the ombudsman is that the creditor should not take legal action. Not that they should put every aspect of the account on hold.

A lender must not initiate legal proceedings in relation to a regulated credit agreement where the lender is aware that the customer has submitted a valid complaint or what appears to the firm may be a valid complaint relating to the agreement in question that is being considered by the Financial Ombudsman Service.

There are references regarding debt collection of defaulted debts where on a disputed debt (e.g. you don't believe you owe it, amount is wrong etc) then they shoudl suspend collection activity while investigating the dispute. Even then, the account keeps running, accruing interest if applicable, and other normal things like that.

stresshead70

I have just come home from work to one of these delightful letters too! I can't believe the trouble I've had with Erudio this year. Just like many others on here I had trouble initially with the deferment forms, they kept saying they didn't have adequate evidence despite the fact it had been sent to them. Anyway, sometime in the summer they eventually agreed that I was entitled to deferment (I earned less than £6,000 last year, so it doesn't exactly take a genius to work it out). Then a few months ago I received the letter about interest issues, which I didn't really understand but as the letter seemed to be telling me it was in hand, I tried not to worry. But now despite the fact that I have never ever earned more than 11,000, they are claiming that I am hundreds of pounds in arrears. I'm just not sure I can cope with anymore of the stress. The thing is, even though I know that I cannot possibly be in arrears, as I have been entitled to deferment every single year, I am now concerned that there claim that I am in arrears will affect my credit rating, which I have been carefully trying to avoid damaging, as we are hoping to buy a house later this year. This idiotic company could potentially scupper our chances of getting a mortgage. Not only that but with just days till Xmas, their timing could not be worse. I'm not much of an activist, but this has incensed me so that I feel something needs to be done, if anyone knows Russell Brand, get him on the case

fermi

dizzybuff wrote: »

Spoken to my freind today who also received an arrears notice she spoke to erudio who said some of them had been sent out in error. It's taken erudio ten months townshend me out two arrears notices. I'm.distraught it's taken so long. An administration error or the pittyful excuse they have put on the letter is unacceptable.

Sigh.... More errors. More hassle.

That at least explains some of this months batch then.

Not all though, as seems to be a mishmash, of different issues. Old, and current notices being issued with not much clarity or explanation on what they mean and if people have to do anything.