ERUDIO student loans help

Jonez

ericctheking wrote: »

Wasn't having a go, in total agreement with you.
Sorry if you read it the wrong way. Sarcasm is hard to pull off in writing! I apologise.

And I too apologise if I've mis-read the sentiment in your message and over reacted.

JeLaw

Brooker_Dave wrote: »

More ammunition for the misselling argument?

Brooker_Dave wrote: »

So we have the right to defer our loan.

In which case no payments are due.

If no payments are due, there's no need for a payment holiday.

If they report us as taking a payment holiday they have at least slandered us, or as it's published on an industry blacklist libelled us?

Brooker_Dave wrote: »

The thing that needs clarification is the 97/98 thing

I keep reading that the 98 rules override the 97 ones, so how can the treat 97 borrowers in a different manner to 98 and onwards people?

Agree with everything you've said above.

If they do report deferred loans to CRAs - especially if they falsely report them as "Payment holidays", how can it not be misselling?

One thing's for sure. A deferred student loan is not a payment holiday. These loans are only due to be repaid if we're earning above a certain amount. Below that threshold, we have no liability to repay. Hence deferrals. Therefore it isn't a payment holiday.

I also don't understand the 97/98 thing. I keep reading that the 98 regulations replaced the 97 ones. So surely that also includes the CRA reporting?

anna2007

JeLaw wrote: »

I also don't understand the 97/98 thing. I keep reading that the 98 regulations replaced the 97 ones. So surely that also includes the CRA reporting?

The 1997 student loans regulations were revoked by the 1998 regs, which contain terms applicable to our loans. However, as the terms in the 1998 regs don't cover disclosure of information, clause 16 and clause 12 in the pre-98 and post-98 loan agreements still stand. As the two clauses are completely different, that's why borrowers are being treated differently over CRA reporting.

The change from the 1997 to 1998 regs isn't related to the change in the pre-98/post-98 agreements - the 1997 regs were just revoked, same as every year prior to that.

nebbers

I have student loans dating back to 1993 and I have deferred every year. SLC were aware of all my income, child tax , child benefit etc but did not take this into consideration when I applied for deferment, Erudio have. I took my complaint to the FO and I have received notification today that Erudio has operated within the T&Cs and have done nothing wrong. I argued child tax and benefit is means tested and therefore an entitlement for my children and not my income but to no avail by the looks of it. Erudio do not have my debit details. I've read if I don't pay they can demand full payment. The FO also confirmed that Erudio informed them they are not currently forwarding details to Credit Reference Agencies...I wonder if that's a porky! I'm looking for advice on what to do next, pay, don't pay in the hope they'll give up (wishful thinking!). Please help! I have until the 20th to appeal the FO's decision.

anna2007

Got hold of a copy of the new DAF - there have been some changes to the wording compared to the draft - but it doesn't matter how much they polish a turd, Erudio are still looking for agreement to their fair processing/searches/CRA reporting:

https://www.dropbox.com/s/a375v9uoleagf02/Erudio%20New%20DAF.pdf?dl=0

The "For Office Use Only" box at the top right had the Erudio customer reference number which has been blanked out, so there's no reason people can't use this form to apply, if Erudio are delaying deferment packs.

erudioed

Superb Anna. The warranty at the end shows you where you can see the full info on how they will share your info on the Erudio website or by asking for a copy. However, it doesnt tell you on this form but it does say on the very end that "By confirming your agreement to proceed you are accepting that we may use your information in this way". So this time, it asks for permission but doesnt say what for. Well, by visiting Erudio's FAQs, here are a choice few we are signing away the right to:
Are you going to pass details of my loan and how I manage it to credit reference agencies?
We may pass details of your loan to credit reference agencies (CRAs) where your account was opened before 1998 in accordance with the terms and conditions of the loan. Where your account was opened in or after 1998 then we may pass details of your loan to CRAs where (i) your account is in or has been in arrears with Erudio Student Loans or (ii) your account is in default or (iii) you have agreed that we may do this. Where your account is in deferral it will be treated in the same way as any other form of loan, which is in a payment holiday and will not be treated as a default.

And the new FAQ fermi posted earlier today:

Will my deferment application impact on how you report to credit reference agencies on a monthly basis?
Separately to your deferment application, and in line with the terms and conditions of your original loan agreement(s), we will report your current outstanding balance and how up to date you are with repayments to credit reference agencies (CRAs) on a monthly basis in the following circumstances:

• For loan agreements signed before or during 1997, we have permission to report details of the loan to CRAs every month, including if you are in deferment.
• For loan agreements signed during 1998 and onwards we may pass details of your loan(s) to credit reference agencies where (i) your account is in or has been in arrears or (ii) your account is in default or (iii) you have agreed that we may do this.

If your application for deferment is successful and your account(s) meets one or more of the conditions for reporting to the CRAs stated above, your account will be listed at the CRAs as a payment holiday.

If your account does not meet any of the conditions stated above, it will not be listed at the CRAs.

The signing and submission of your Deferment Application Form to Erudio Student Loans does not change the terms and conditions of your loan agreement in any way in relation to reporting to the CRAs.


ME AGAIN: Note at the end of the last one, the T&Cs will not be changed by signing the DAF. However, by signing the new DAF, as mentioned at the start of this post, it states: "By confirming your agreement to proceed you are accepting that we may use your information in this way".


To me, this one is even more misleading, confusing and contradictory than the 1st DAF. At least that one told you some of what they would do with your info and how it could affect you. This one, they have removed it from the end of the new DAF, and have moved what you are signing away to their website. So, unless you are interactive when completing this form and double check with the website, or you 'request' a copy of that info about how your information will be used via calling the Death Star (Erudio HQ), someone will not know what they are agreeing to when signing the new DAF. That seems deceitful to put it mildly. Additionally, when you do check what you are agreeing to (signing away) on their website, it is more than they were saying they would on the 1st one, including those 2 examples of a few i pasted above.
Anybody else see it like that, or am i being too extreme, or not extreme enough. Either way, for me, i feel another carpet bombing campaign coming on to anyone who will listen.

Lungboy

anna2007 wrote: »

The 1997 student loans regulations were revoked by the 1998 regs, which contain terms applicable to our loans. However, as the terms in the 1998 regs don't cover disclosure of information, clause 16 and clause 12 in the pre-98 and post-98 loan agreements still stand. As the two clauses are completely different, that's why borrowers are being treated differently over CRA reporting.

The change from the 1997 to 1998 regs isn't related to the change in the pre-98/post-98 agreements - the 1997 regs were just revoked, same as every year prior to that.

What happens with people like me whose loans straddle 98? My 1st loan was 97 and the rest were 98 onwards, so can Erudio report my 1st loan only, none of them or all of them?

globetrotter123

is there anything in the original loan agreement (they have still failed o send me a copy) that says that the contact details must be a postal address?? I have requested all contact to be email rather than my parents address I used previously...the DAF was still sent to my parents and returned "not at this address!...resulting in a late deferment and now arrears.... do they have to supply a copy of original agreement? do they have to correspond al by email if I request that? thanks all

dizzybuff

Nebbers a number of us have argued till we are blue in the face about child benefits etc. I have also had child tax credit, benefit and maintainance taken into account.and I am now paying my loan back. The issue is with my mp. I have very little fight in me. I am now fighting with thwm over the fact they will not change the dd date. Even with me offering to pay the extra five days loan amount. I don't earn enough. They messed my calculation up last year and got it right this year. So there has been a complaint go in for that.

Erudio unfortunately are abiding by the t and c although it doesn't state sone benefits they are very obscure. So grit your teeth. Yes they can cancel and demand payment in full. They will use any tactic to get the money. They don't care.

globetrotter123

I requested a true copy of my loan agreements and they have failed to provide them (said they attached to the last email but wasn't attached) original request was a week ago... do the need to supply these documents?