ERUDIO student loans help

JMol

I had a DD taken out and I'd never received any correspondence from them at all.

erudioed

that is terrible. Make sure you file a complaint with erudio immediately and request they compensate you for breaking the DD mandate. If not, tell them you will go to the ombudsman.

Rosskie

That's concerning that they wont extend deferements for disputed accounts, and I can only imagine is against CCA rules, as If the accounts in dispute its frozen, cannot be serviced, interest / charges accrued, so surely cannot even be defered??

As for the p60 comment, the original deferment form stated "gross income last month must not be more than £xxxx and your average gross monthly income for this month and the next two months must also be (or likely to be) not more than £xxx." This is backed up by the credit agreement T's and C's. They have no right to assess your earnings over any other period.

rizla_king

Late deferments can be backdated for up to 3 months. That is in your loan agreements in black and white so you can hold Erudio to that no matter how much they try to wriggle out of it.

rizla_king

Direct Debit Mandates.

If you analyse the agreement terms, having a direct debit mandate is NOT a requirement for deferment and they should not be able to refuse you deferment if you dont. Apart from being over the income threshold, the only reason they can refuse deferment under the agreements is if the loans have previously been demanded back in full. Under the agreement they can ONLY demand the loans back in full if you fail to make a required payment under the agreement. In other words not having a DD in place is not a breach of the agreement that allows the to demand the loan back in full, so it is not a breach that gives them legal grounds to refuse a deferment. Again Erudio do their best to make you think otherwise with deceptive wording on the forms.

Rosskie

Direct debit for repayment is in the agreement, unless they "agree otherwise". So not a requirement of deferement, but a requirement for repayment if Erudio say it is.

erudioed

we need to pull out what part of the deferment assessment is definitively part of the SLC T&Cs. BIS said that it is up to Erudio how they conduct the deferment process and such things, assuring that it doesnt breach the original T&Cs. I dont buy that on face value but if they are confident of that, we must make the distinction and try and find what is a T&C, and what is the deferment process BIS and Erudio are specifically referring to that is not part of the T&Cs.

Rosskie

...So if you arent deferred, even if you should be, they can insist on taking a payment via DD. If they don't get this, then the can say missed payment, payback in full, no further deferments etc etc etc. Don't know if the loans still get written off after the 25 years in that case. Personally I'll probably setup a DD if they refuse deferment or the deadline is close, then recoup any payments with the backdating, hopefully.

Don't think for a second that they'll be nice and let you off with a missed payment if you make it up. They will jump on the chance and demand full payment with future deferments refused.

So as stated - DD not a requirement of deferment, but if your not deferred for whatever reason you should get one setup.

Just my opinion mind you, and I'm no expert.

rizla_king

No, because if you should be deferred you should be deferred. Erudios failure to defer a valid application due to their own incompetence or obstinacy, would be a breach of the loan terms and conditions on their part, so they would not then be able to insist on enforcing a consequential term that only came into play because of their failure to perform their duties under the agreement.

Rosskie

So Erudiod, I think you asking about T's and C's specifically relating to the deferment process? Was wondering the same, there are statements about deferment on the back of the credit agreements, but they are thin and surely cant be everything, can they?