ERUDIO student loans help

Pluthero

My thoughts on the new DAF and Erudio:

Quote:
When will the new Deferment Application Form be ready?

The New Deferment Application Form will be ready by the end of February. We realise that the deferment process is complex (it's not really! The SLC used ONE A4 sheet doubled sided AND I was usually deferred in two weeks!)and it is important that we provide the best service possible (LOL - facking kidding me!). Having listened to feedback from our customers and third parties (been told off by Regulators, checked with our army of lawyers), we’ve updated the form and guide so that they are easier to understand and clearly explain what information is needed and why (hmmm).

As part of the changes we’ve made, we will no longer require customers to provide additional consent for listing with credit reference agencies. (I am still unsure if this means they feel they don't need consent confirmed and that clause 16 or the original agreement ALLOWs the ruin of our credit ratings. Or that they are backing down on the whole CRA reporting fearing the SH*T Storm it will provoke around student loans. THINK carefully now ARROW GLOBAL + FACELESS CABAL of investors there is a gold mine of BILLIONS of £££loans to be bought up in the future - Don't sh*t where you can feast) The new form will still feature a Direct Debit Mandate (if you are in deferral why not make this crystal clear that a DD is not needed?) request but this will be optional rather than compulsory. However, in case the deferment application is unsuccessful, we do think it is still best for[STRIKE] customers[/STRIKE] prisoners to complete this to ensure they can make a repayment and thus protect themselves from their account going into arrears. (Keep complaining to every legal body folks, lets make these chancers back down on all their Bullsh*t)

Until the new form is in circulation you may receive the current Deferment Application Form which we will now accept without the Direct Debit Mandate completed. Equally, we will be happy to accept signed forms with the following wording crossed out: "ACCORDINGLY THEREFORE BY SUBMITTING THIS APPLICATION YOU CONFIRM THAT YOU CONSENT FOR ERUDIO TO PERFORM RELEVANT CHECKS AT CREDIT REFERENCE AND FRAUD PREVENTION AGENCIES." (Again our legal team told us this Sh*t ain't gonna fly.)

Because of these changes, anyone due to receive a Deferment Application Form after 1st of February will have the option of requesting a new form instead of using the current version, which will be issued when it becomes available. Due to the way the deferment process works (forms are sent out well in advance of deferment (mostly?! PMSL!)) these customers will still have time to complete and return the new form for it to be assessed (or lost, or binned and denied all knowledge of.)


Only by complaining and fighting did these chancers back down on ANYTHING. KEEP FIGHTING PEOPLE!

anna2007

The new application form will be ready for use from the end of February. Anyone due to receive a Deferment Application Form from 1st February will have the option of requesting a new form instead of using the current version. To make these customers aware of this we will be writing to them and informing them of this option.

If it's true that Erudio thinks it's "important that we provide the best service possible", why aren't they pushing to get the revised DAF out at the beginning of February, which must be the busiest month for sending out deferment packs?

They've had more than enough time, but are willing to put themselves under unnecessary pressure to process DAFs by shortening the application period, which will only result in more delays, repayments falling due, arrears building up, while they fart about losing forms, evidence, etc. Their timing's not lousy, it's intentional.

I'd be surprised if the revised DAF is much different to the draft posted on MSE months ago, because that would send out the wrong signals that we prisoners have any meaningful say in how Erudio manage our accounts. I think they're trying to build up the new DAF to be the answer to all of our problems, so that we'll be sorely disappointed when we finally see it.

Or maybe I'm just too cynical when it comes to Erudio now

anna2007

Another new FAQ on Erudio's website:

"Why have I received a letter saying I was given incorrect information on monthly repayment amounts?

In September 2014, we sent our customers annual statements outlining the status of their Erudio Student Loans account(s). We have since become aware that a number of customers were sent annual statements which listed an incorrect monthly repayment amount".

Could be related to their daft ploy to squeeze the outstanding loan balance into the remaining months until loan cancellation? If so, it does seem that someone's had a serious word in their ear. Did anyone on here receive the letter?

fermi

blackhawk1975 wrote: »

Now, in May 2010 I entered into a trust deed which became protected. I was successfully discharged from this in March 2014.

Just to clarify there, legally a student loan is one of the few debts that cannot be included in a trust deed.

That is set down in law.

http://www.legislation.gov.uk/ssi/2008/143/regulation/20/made

https://www.nationaldebtline.org/S/factsheets/Pages/21%20SCOT%20Trust%20deeds/Page-02.aspx

What debts cannot be included in a trust deed?

A trust deed cannot include debts such as:

• fines, penalties, compensation and forfeiture orders imposed by any court;
• any debt that has been incurred through fraud;
• student loans;
• any obligation to pay maintenance to an ex-spouse due under a court order (not Child Support Agency arrears or Child Maintenance Service arrears); and
• money owed to a creditor whose debt is secured on your property (such as a mortgage or secured loan).

anna2007

A potential test of whether Erudio are really precious with our personal info, or happy whoring it out to anyone interested.

If Erudio still ask for an email address on the DAF, create a new one and give that. Don't use it or disclose it to anyone else. If, months later, you are bombarded with spam, offering you a chance to rebuild your credit (it must be bad with all of that student loan debt), with a visa card at 39.9% from Boston, USA, then you know for sure that the personal data you passed to Erudio is being flung about. Without permission.

Pluthero

anna2007 wrote: »

A potential test of whether Erudio are really precious with our personal info, or happy whoring it out to anyone interested.

If Erudio still ask for an email address on the DAF, create a new one and give that. Don't use it or disclose it to anyone else. If, months later, you are bombarded with spam, offering you a chance to rebuild your credit (it must be bad with all of that student loan debt), with a visa card at 39.9% from Boston, USA, then you know for sure that the personal data you passed to Erudio is being flung about. Without permission.

I got two of those recently only 39.9% APR. BARGAIN! First CCard offers in ages!

Bozzman

New user - if this has been dealt with anywhere else then please forgive me.

I contacted Erudio to discuss my loan and they told me something that really surprised me.

They told me that my deferment period would only run until about 2 years before the end of my 25 years. Then they would contact me to discuss repayment terms but no deferment would be offered from then on.

I have emailed their support email several times asking for confirmation of this and why this was possible as it was a variation of the original terms and conditions.

I wondered if this was a real issue?

Anyone else know about this?

thanks

fermi

Do you have any arrears built up on the loans?

BorderReiver14

MSE_Wendy wrote: »

* What should I do if I want to use the new Deferment Application Form?

You mean we have a choice?:rotfl:

dizzybuff

So I still havnt heard from the ombasman after the adjudicator has passed it on. The thing I'm concerned about is the arrears that are building up and that erudio havnt informed me since the last batch of letters in October. I've sent another deferment form off as I actually only earn 18k now. But my benefits still stake me over the threshold. I cry everything I think of this. I've sone savings put aside to pay it off but I'm so worried about the arrears.