ERUDIO student loans help

in Credit File & Ratings
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  • ericcthekingericctheking Forumite
    328 Posts
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    pbs84 wrote: »
    Arrow may be daft, but doubt they are daft enough to go to court when you can prove you made a valid deferemnt request.

    These type of sharks will often threaten court however.
    Also sometimes they will actually take people too court when they are quite certain that person will not defend so they can get an uncontested judgement. So always defend people!
    Again it is just a numbers/percentage game to them.
  • ericcthekingericctheking Forumite
    328 Posts
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    But as pbs84 says they seem to be buckling already so talk of court is premature.
  • The going to court bit etc is daunting, have enough on my plate atm but the more people who know they have no obligation to provide everything Erudio demand the better.

    My original letter from SLC was sugared up a bit with a £1545.64 reduction due to a 'discovered issue with some of the correspondence that was sent to you in the past. This correspondence could be interpereted as not being fully compliant with the consumer credit act 1974 as ammended in 2006'
  • edited 21 March 2014 at 5:00PM
    calliopevioletcalliopeviolet Forumite
    60 Posts
    edited 21 March 2014 at 5:00PM
    Oh god, this is all scaring me to death!

    Has anyone had a response yet after sending back not the deferral forms, but the letter they've written themselves asking to defer?

    ETA: I realise probably not. I'm just having a panic.
  • ericcthekingericctheking Forumite
    328 Posts
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    Oh god, this is all scaring me to death!.

    Don't be scared just follow the terms and conditions of the original agreement and there is nothing to be scared of. They are the ones trying to trick people into agreeing to things they don't want (deferred loans put on credit reports etc, when the loans were sold as a loan that doesn't get put on credit reports)
    Also you are under no legal obligation to provide them with all those details. (if you are a home owner or tenant, etc)
    There is no need to feel alone these days too, with the internet and us sharing information they are less likely to get away with these underhand tactics.
  • Thanks ericctheking, but I'm confused. Surely, if they want me to complete their forms, and I don't, they could just say 'fine; now you need to give us back everything you've borrowed'. You say they don't have any right to ask the things they're asking for, but what can I quote to them which makes it crystal clear and legal that this information is erroneous so I won't be supplying it?
  • edited 24 March 2014 at 8:19AM
    pbs84pbs84 Forumite
    31 Posts
    edited 24 March 2014 at 8:19AM
    This letter has been suggested on other forums as there in nothing in the law or the loan agreements that says you have to use their forms. As long as you supply the proof of gross income that the law says is required for you to defer, can't see that they have any legal basis for refusing deferement. You would have met the legal conditions and given them proof.
    To Erudio

    Erudio Student Loans Ltd
    PO Box 580
    Rotherham
    S63 3FR

    Formal request for deferment under the Education (Student Loans) Act and Education (Student Loans) Regulations.

    I formally request that my student loan accounts listed on the following page are deferred for a further 12 months pursuant to the Education (Student Loans) Act and Education (Student Loans) Regulations.

    In accordance with the regulations I provide evidence that:

    - my gross income for the relevant month is not more than the deferment level.
    - my gross average monthly income during the 3 months immediately following the relevant month will not or is unlikely to be more than the deferment level.

    where “relevant month” means the month before the month in which the borrower asks for deferment.

    I shall not be completing the form provided by yourselves as it requests private personal or other data that is not relevant to the above deferment conditions.

    I note that there is no requirement in the legislation or agreement to apply for deferment in a given format or on a specified form.

    I declare that all information given is correct to the best of my knowledge, and no relevant source of income has been omitted. As such I fulfil the conditions for deferment.

    I look forward to confirmation of deferment.

    Yours faithfully,
  • want_to_savewant_to_save Forumite
    401 Posts
    Eighth Anniversary 100 Posts Mortgage-free Glee!
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    wish i had read all this before i filled in the stupid form
  • My friend has one of these loans and has been having sleepless nights worrying about the forms which he does not understand. I have a quick look and there seemed information required which should not be part of the loan deferment including record of savings, housing status etc. I suggested he drafted a letter saying he was not prepared to use their forms and went to the CAB to ensure it was correct. Its really helpful to see the letter above, thank you.

    His situation is slightly different as he also has just started his own business and they are asking to see his last full tax return. He is actually making no money from the business yet and is being supported by his partner. Is there any other way of demonstating his self employment income (or lack of it!) other than giving them his full tax return?
  • pbs84 wrote: »
    This letter has been suggested on other forums as there in nothing in the law or the loan agreements that says you have to use their forms. As long as you supply the proof of gross income that the law says is required for you to defer, can't see that they have any legal basis for refusing deferement. You would have met the legal conditions and given them proof.

    And you really think that by doing this, rather than completing the forms, they'll accept that as an application for deferral? I just can't help stressing that they'll completely ignore them and then demand you pay the whole bloody lot back.
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