ERUDIO student loans help

fermi

erudioed wrote: »

I personally believe (which hasnt changed), and again backed by what was included on the 1st DAF, that the reporting of such a loan can have an impact on family members and people residing at the same property as that person.

Negative information on your credit report could only affect someone at your address if there is a recorded financial association with them.

i.e. created by joint mortgage, account, loan, credit applications, some bills etc. A joint financial commitment that create a financial associate link on your/their report.

Someone simply living at the same address but with no such recorded link would not be affected.

erudioed

Thanks for the clarification fermi. So it could/would definitely affect other individuals? But if i am historically responsible for anything CRA worthy alone, then it would not affect another individual?

fermi

http://help.creditexpert.co.uk/help/sv635/Credit_report/financial_associations

[STRIKE]Do Financial Associations affect my credit score?

No, being financially associated to someone won’t affect your credit score,[/STRIKE] but it may make it harder, or easier, for you to get credit depending on their financial situation. If you have a financial association with someone who owes a lot of money elsewhere, banks and financial institutions will be concerned that you may not be able to meet repayments, because of the other person’s financial problems. If the other person’s credit history is as good as, or better than yours, this may improve your ability to get credit.

Crossed out the part about credit score, as they are referring to the Experain credit score which is a useless number that no-one apart from you ever sees anyway. It's irrelevant.

Brooker_Dave

erudioed wrote: »

It is an experiment, and considering the potential consequences of reporting our loans, a very dangerous experiment that can have far reaching life changing consequences for some of us, and even those associated/connected to our credit files.

If they report them, then we've all been missold, as a key part of taking out a student loan was the promise that doing so they would not be reported unless they were in breach?

erudioed

Brooker_Dave wrote: »

If they report them, then we've all been missold, as a key part of taking out a student loan was the promise that doing so they would not be reported unless they were in breach?

That is what some think, but Erudio see it differently. They think they are within their rights to report pre98 loans but SLC just chose not to. My contention is though, that if reporting to CRAs means a (potential) black mark against another, Erudio will be in breach by reporting to CRAs. We/I just need to prove it
As the link above by fermi does show though, it can affect your ability to get credit if you have an association, which according to that link, many will have.

Pluthero

Brooker_Dave wrote: »

If they report them, then we've all been missold, as a key part of taking out a student loan was the promise that doing so they would not be reported unless they were in breach?

Total miss selling based on original terms and conditions. Even today the govt advises parents that student loans will not appear on CRA's or affect a students ability get a mortgage in future.

IF what Erudioed says is true about ALL loans being reported and credit rating ruin THEN there is really no reason to PAY Erudio a PENNY cuz you are effectively being treated as a defaulter so why give these cretins your money to add insult to injury.

I would call on everyone to boycott their new DAF and lets COST them money on dealing with the administrative fallout and complaints.

Also its ELECTION year. Make your MP know your feelings about these DCA sharks and their total contempt of you.

anna2007

Brooker_Dave wrote: »

If they report them, then we've all been missold, as a key part of taking out a student loan was the promise that doing so they would not be reported unless they were in breach?

From Wiki:

Maladministration is the actions of a government body which can be seen as causing an injustice.[1]

The law in the United Kingdom says Ombudsman must investigate ‘maladministration’. The definition of maladministration is wide and can include:

◾Delay
◾Incorrect action or failure to take any action
◾Failure to follow procedures or the law
◾Failure to provide information
◾Inadequate record-keeping
◾Failure to investigate
◾Failure to reply
◾Misleading or inaccurate statements
◾Inadequate liaison
◾Inadequate consultation
◾Broken promises

Our Government seems to fit pretty much all of those definitions!! I think it's the Parliamentary Ombudsman who's responsible for Ministerial Departments.

http://en.m.wikipedia.org/wiki/Maladministration

dizzybuff

So had a response from erudio. With a receipt for my payment. They have calculated my pay correctly this time which is ideal and I will send this to the independent assessor. Actually I may open another complaint with Erudio regarding it. I have been informed my dd can not be changed as it was set up originally on the tenth. How does this mean it can't be changed. They state I can pay by standing order but this will take my account into arrears for five days. So either way I don't wan as they can show me as defaulting if they choose to put it on my credit file.

dizzybuff

So all that is basically forcing us to pay. If I applied for deferment recently and was rejected. Looks like I will be struggling to pay this back. I will have to sort my finances out and pay back five days before I'm paid! I'm Absolutly in awe that even though I'm single and earn way below the threshold. Because of the benefits I receive to enable me to work I have to pay this back. I now have another payment due in three days and I have no idea where I am going to get this from. So for the next four years I will be paying this back. Until my daughter goes to school in September and my finances change again. Bit I need to apply for a mortgage and if I don't pay this back it will appear on my credit score. It will be classed as a liability when I apply for a morgage so it's loose loose any way.

Jonez

Tell them you are instructing your bank to change the DD date and either accept this or get stuffed. Who the hell do they think they are? - it's complete bo**ocks telling you that the date cannot be changed. I've changed loads of them over the years to suit changing financial patterns. Ask them to quote the rules and regs that give them the right to refuse to alter the date.