ERUDIO student loans help

fermi

Most people with split loans seem to get confirmation from SLC of deferment, but no confirmation from Erudio. So that sounds normal.

You will get annual statements and other required notices from Erudio, but nothing on the deferment part it seems.

eroneo

For split loans, who are repayments made to? Do SLC take the money and split it and pass it on? Or do borrowers have to pay each creditor direct?

fermi

Each creditor direct.

SLC do only the deferment. Just that, and absolutely nothing else to do with the loans. Everything else is done via the company that owns the loan.

GirlGeek

I have split loans. I've had, and returned, a DAF from SLC.

A few days after that I had a letter from Erudio telling me my deferment is due to end and they'll start taking payments the day after. They also said they'd send out a DAF in a few days and if I thought I was under the threshold I should fill it in.... that was two weeks ago and nothing has arrived (they also lied about me not having a direct debit set up). I'm assuming that the SLC DAF is the one they were referring to, if not it's not Erudio's place to be sending one anyway!

I'm fed up with the niggling worry about this and the hassle that is bound ensue.

fermi

Yes, seen Erudio send letters out like that which you might read as THEY are sending a DAF form, when in fact it's really just the SLC one.

Something like:

"A deferment form is being sent to you under separate cover"

Which means SLC are.

cluelessfish

So if slc granted my deferment early march they will have informed erudio as such and no money will be leaving my account on 10th april?

having double checked my mail honors did send me a standard deferment is running out/ payment will start letter back in feb. but nothing from erudio since annual statment in september.

Will wait and see what happens if erudio wrongly take direct debits for second year then surly that will be very bad for them.

under credit license rules are erudio REQUIRED to keep customers informed of changes to account status?

What is a REASONABLE amount of time for erudio to sort out their mailing issues?

Forever

I am self-employed, and I have been deferred before the deferment end date using their DAF (saying I don't accept any changes to the original t&cs). Yahoo!

They did originally ask for a later tax return than 2013/2014, but I complained. They have now deferred me.

The stress of Erudio is over for another year. :T

rizla_king

cluelessfish wrote: »

under credit license rules are erudio REQUIRED to keep customers informed of changes to account status?

Apart from an annual statement no.

erudioed

Just a heads up. Anna's internal review request has again been refused. It concerned info on the deal with Erudio. Although not surprising they upheld their original decision to not release any info, the response should be noted. It basically says (without saying it), that the 2000-2010 loans are going to be put up for sale in the not too distant future. That will of course back what was in the last Osbourne budget, noting that they are preparing the ground for a sale of these loan years. I know our fight is only relevant to us really and people are probably sick and tired of hearing about it, but given that we are kind of plugged into what will be coming for those X million ex-students, maybe we should get on our megaphone a little and tell people what is coming for them. We had no warning, and most of us no advance knowledge, our loans had been sold until we got Erudio's first introductory mail. We have an election coming soon, and there are X million people who need to know about it. How that can be achieved, god knows, but maybe we need to try and shout a little and tell people.
Heres the FOI reply by BIS: https://www.whatdotheyknow.com/request/247696/response/636832/attach/html/3/IR%20RESPONSE%20FOI2015%2000554%20MS%20A%20PATTERSON.PDF.html

Jonez

I thought that modern day student loans were sold on the basis that they are collected from salaries once the threshold is reached? If these are then sold on to scum like ESL, doesn't that just represent a huge mis-selling scandal in the making?