ERUDIO student loans help

eroneo

@Anna - thank you for the BIS letter, it shaves about a year off!
@AReeves - Good luck with the case and thanks for the comments. I'm sure Erudio are trying to rely on the FPNs and the schedule 2 conditions. However, no FPN can override the borrowers rights in the original agreement.

Also, has anyone actually had a formal opinion back from the ICO on credit checks/reporting deferments to CRAs? Surely by now the ICO must have made their views known?

I know most have been concentrating on just getting deferred, but I want to see Erudios new data sharing policies formally stopped.

Pluthero

eroneo wrote: »

@Anna - thank you for the BIS letter, it shaves about a year off!
@AReeves - Good luck with the case and thanks for the comments. I'm sure Erudio are trying to rely on the FPNs and the schedule 2 conditions. However, no FPN can override the borrowers rights in the original agreement.

Also, has anyone actually had a formal opinion back from the ICO on credit checks/reporting deferments to CRAs? Surely by now the ICO must have made their views known?

I know most have been concentrating on just getting deferred, but I want to see Erudios new data sharing policies formally stopped.

I have a complaint lodged with the ICO. They said they will only follow it up Should my loans be placed on Payment holiday with a CRA. But am writing to them today about the illegal credit check so will ask again about how legal it is EVEN to threaten to do so.

zombi

anna2007 wrote: »

There's no legal requirement to have the DD set up, and Erudio have confirmed that in their response to my complaint, but nothing's changed officially and until it does, it might be better to get Erudio to confirm to you individually that the DD's not a requirement - please feel free to use my letter to force a confession out of them!

Thanks Anna, Do you have a link to this letter? I've had no luck trawling through the threads I'm afraid...

fermi

This?

anna2007 wrote: »

Page 1 of their letter here (the last paragraph is quite good for a laugh):

https://www.dropbox.com/s/grmvj84zowiq08t/Erudio%20Response.pdf

Also, an extract from my complaint letter covering the DD issue, as it mentions relevant bits of the loan agreement and legislation:

https://www.dropbox.com/s/v7fbgp77qbbka01/Complaint%20to%20Erudio.rtf

And page 2 and 3 of same response letter?

anna2007 wrote: »

It also mentions the recording of loans as "payment holidays", which might be of use too.

I've attached page 3 of their letter, as if you're going to use it, it's probably better to have the Erudio signature at the end of the letter too:

https://www.dropbox.com/s/zswfmgjaqkkm90w/Erudio%20Response%20page%202.pdf?dl=0

https://www.dropbox.com/s/umwvtuxq94crr3t/Erudio%20Response%20page%203.pdf?dl=0

For the first page of Erudio's response, re the DD, see my post # 1453, page 73.

zombi

fermi wrote: »

And page 2 and 3 of same response letter?

Hi Fermi, thanks so much for the links. Unfortunately I can't find the first page as the page number/post number doesn't appear to correspond with your post:


"For the first page of Erudio's response, re the DD, see my post # 1453, page 73."


I've looked in several posts above and below it but I'm still none the wiser. Could just be me being an idiot....

anna2007

zombi wrote: »

Hi Fermi, thanks so much for the links. Unfortunately I can't find the first page as the page number/post number doesn't appear to correspond with your post:


"For the first page of Erudio's response, re the DD, see my post # 1453, page 73."


I've looked in several posts above and below it but I'm still none the wiser. Could just be me being an idiot....

Hi zombi, I can confirm that the first link Fermi's posted is the right one - it's page one of Erudio's response, backing down on the DD.

I might have referred to the wrong page/post no, apologies if I did

fermi

It's in the 1st quote in my post above.

Anna's complaint to Erudio --> https://www.dropbox.com/s/v7fbgp77qbbka01/Complaint%20to%20Erudio.rtf

Their response - Page 1 --> https://www.dropbox.com/s/grmvj84zowiq08t/Erudio%20Response.pdf

Their response - Page 2 --> https://www.dropbox.com/s/zswfmgjaqkkm90w/Erudio%20Response%20page%202.pdf?dl=0

Their response - Page 3 --> https://www.dropbox.com/s/umwvtuxq94crr3t/Erudio%20Response%20page%203.pdf?dl=0

anna2007

eroneo wrote: »

Also, has anyone actually had a formal opinion back from the ICO on credit checks/reporting deferments to CRAs? Surely by now the ICO must have made their views known?

I know most have been concentrating on just getting deferred, but I want to see Erudios new data sharing policies formally stopped.

Hi eroneo, I made a lengthy complaint to ICO a while back, but I gave up, as their view is that signing the loan agreement gives the required consent. I'd been warned that would be ICO's position before I made the complaint, so it does feel like :wall:

I don't think it covered credit searches, only credit reporting? I'll contact ICO again and get the complaint escalated. I'll add in Anthony's comments and if you or anyone else wants to add to it, just let me know.

Post# 2196 & 2200
http://forums.moneysavingexpert.com/showthread.php?p=66764505&highlight=ico+complaint#post66764505

Post# 2201
http://forums.moneysavingexpert.com/showthread.php?p=66771701&highlight=ico+complaint#post66771701

anna2007

RoaringTwenties wrote: »

Hello Anna, thanks very much for responding in such detail to my post, it's very much appreciated

It seems that people who fit the deferment criteria are still not having their loans deferred then? Is this what the court case is about? (I'm trying to find time to read all the threads but there's a lot to take in!)

That's pretty much it - Erudio making deferment conditional on using their DAF, when the regulations only require the borrower to "show" the lender that their income's below the threshold, there's no prescribed format on how that should be done. Also, the unfair relationship created over consent to the credit reporting. If you have a look through Anthony's (AReeves) posts, that will give a good picture of what's happening re court action.

RoaringTwenties wrote: »

I wonder if it makes a difference how close you are to the threshold, whether Erudio think they can just sneak you over it by disputing your declarations or whether they're more likely to let you defer if you're a long way away from it.

I think the level of income probably does have a bearing, it makes sense for them to focus the worst of their attention on those closer to the threshold, at least for now. My income's low (my loan balance is relatively low too) and my deferment was fairly quick and painless... they probably wish I would just go away now, it'll most likely cost them more in FOS and court costs than they'll ever get back on my loans

RoaringTwenties wrote: »

I don't think Erudio can twist the income I do have, which is basically Child Benefit & a small amount of ISA interest, to claim I am above the threshold, so I'm guessing that what will happen is that they will refuse to accept my income level, insisting I have some other form of financial support? My OH has always written a letter stating that she does not make funds available to me above the threshold, but as you say, that won't be enough this time. But how do you prove a negative? From reading previous posts here it seems people are working out half their mortgage, Council Tax etc & stating that their OH makes that available to them & that it is well under the threshold, so that might be a way forward.

I did also wonder whether spousal support of this kind (access to family money as opposed to an allowance) could be declared in section 8 as Other Means of Support that isn't taken into account as income?

SLC asked me for further evidence of financial support when I applied for deferment after giving up work (I initially gave them proof of Child Benefit and CTC), so you can be sure Erudio will want the same, with bells on! I worked out half of the household outgoings we're jointly liable for, and declared that.

If you have a look at page 14 of the DAF guide, it says to add together all the values declared at sections 4 to 8, so anything in section 8 will be included by Erudio (even the disability-related benefits which should be disregarded).

RoaringTwenties wrote: »

With regard to the BTL, I may declare that as split three ways & even accounting for the basic allowable expenses of interest & management fees (but not wear & tear, lettings agents fees etc) I could only 'earn' £55 PCM from it.

There have been some reports on here of Erudio using the rental figure (before allowable expenses and 100% of it, even where the property's jointly owned) as the amount of income. They have been doing the same with self-employed earnings. The evidence Erudio asks for in the DAF guide is a letter from the tenant confirming the rent figure, or bank statements showing the rent payment being received - nothing to show what the actual income is, after allowable expenses.

RoaringTwenties wrote: »

I was wondering about phoning Erudio to ask for advice but my sense here is not to do that, as it seems that they are incompetent at best & at worst would seek to use anything I might say against me.

DON'T DO IT!! Erudio are hopeless on the phone and it's better to have everything in writing, in case you need to make a complaint regarding your deferment at a later date. I found customerservice@erudiostudentloans.co.uk better for getting a response, than the Deferments email given in the DAF guide. Put your address and DOB at the end of every email, or they'll just contact you a few weeks later, asking you to confirm your identity!

RoaringTwenties wrote: »

And why do they need to know whether I'm a homeowner or not? I'm not happy with them demanding this level of info, but I guess if I omit info they'll use it as an excuse not to defer me...

They don't need to know this - there's no legal basis for Erudio to have this info. I think some have only provided the details previously provided to SLC. They certainly can't refuse to defer you if you mark the homeowner question as "not applicable".

HTH

zombi

Thanks for that Fermi and Anna, I was in fact being a bit brainless. It's hard to do all this on the sly while at work.