ERUDIO student loans help

fermi

cluelessfish wrote: »

thats the respnsonse I got, my deferment date has passed without erudio taking money.

But why should we have to call anyone else, slc sent out daf which is returned to slc who then process and grant deferment and post confirmation. They have done this for many years now , even last year during the transfer to erudio. But now they seem unable to post confirmation letters?

They were posting them end of last year as know someone who got one, after them being told by SLC staff that they weren't sure if one would be sent out. So perhaps there is one on the way anyway?

pbs84

another year

To Erudio

Erudio Student Loans Ltd
PO Box 580
Rotherham
S63 3FR

NOTICE - Formal notification of deferment under the Education (Student Loans) Act and Education (Student Loans) Regulations 1998.

I formally demand and require that my student loan accounts listed on the following page are deferred for a further 12 months pursuant to the Education (Student Loans) Act and Education (Student Loans) Regulations 1998.

In accordance, and in full compliance, with the regulations, I provide evidence to show that:

- my gross income for the relevant month is not more than the deferment level.
- my gross average monthly income during the 3 months immediately following the relevant month will not or is unlikely to be more than the deferment level.

where “relevant month” means the month before the month in which the borrower asks for deferment.

These are the full extent of the legal conditions required to entitle myself to deferment of the aforementioned loans.

I shall not be completing the form provided by yourselves as it requests private personal or other data that is not relevant to the above deferment conditions.

I note that there is no requirement in the legislation or agreement to apply for deferment in a given format or on a specified form.

Specifically there is no provision ion law or contract that requires the use of your forms.

I also note that there is no provision in law or contact that permits you to refuse a deferment request on the grounds that I have chosen not to use your forms.

Should you refuse deferment I will be seeking an order in the County Court to enforce my right to deferment under the loan agreements and regulations.

I declare and warranty that all information given is correct to the best of my knowledge, and no relevant source of income has been omitted.

As such I fulfil the conditions for deferment.

I look forward to confirmation of deferment.

If this is not received by the date my current period of deferment expires, you will receive a letter before claim and then a County Court claim within 28 days.

Yours faithfully,

anna2007

I received a reply from SLC to an FOI request relating to the gender split of our loans. Not sure if it's of any use, but does show a ratio of around 2:1 for female/male deferred loans, and similar 60/40 split of male/female defaulted loans:

https://www.whatdotheyknow.com/request/mortgage_style_student_loans_sta_2#incoming-640082

fermi

Not surprising that split to be honest.

cluelessfish

fermi wrote: »

They were posting them end of last year as know someone who got one, after them being told by SLC staff that they weren't sure if one would be sent out. So perhaps there is one on the way anyway?

Should deferment confirmation, or rejection, letter not arrive before deferment date?

last year I had confirmation letter barely a week after returning my daf.

fermi

I can't say, as the ones I've seen have been from people who are out of sequence with the main set of deferments.

In other words, they have been quickly sent through, but SLC would not have many to do that time of year, so you can't read much from that.

anna2007

Has anyone looked at section 10 of the DPA as a way to put the brakes on reporting of our loans?

It gives us a legal right to object to processing if "it causes unwarranted and substantial damage or distress". ICO say substantial damage would be financial loss or physical harm. Experian have confirmed to me that my credit rating would fall from 'Excellent' to 'Good' if my student loans were added to my credit file, so it's likely I'd no longer get the best rates for credit applications and will therefore suffer a financial loss on future credit applications.

https://ico.org.uk/for-organisations/guide-to-data-protection/principle-6-rights/damage-or-distress/

Section 10 doesn't apply if we've given consent, which would be Erudio's reason for refusing a section 10 notice. But we all know already that the consent they're relying on through the loan agreement is ridiculously shaky.

I'm not convinced that a court case through small claims on use of the DAF will get the CRA stuff resolved - Erudio agree when pushed to defer without DAF and that's an end of it for that one claimant, when the bigger issue is about the reporting/privacy of our data.

If you're still in disagreement after a section 10 notice, you can make an application to the court via small claims and you will get a decision... or at least that's as much sense as I can make of it. That seems to me a real alternative to the DAF cases that are being settled out of court.

Any thoughts on all of that, either here on the forum or PM/email, would be very much appreciated.

fermi

anna2007 wrote: »

Experian have confirmed to me that my credit rating would fall from 'Excellent' to 'Good' if my student loans were added to my credit file, so it's likely I'd no longer get the best rates for credit applications and will therefore suffer a financial loss on future credit applications.

That flies in the face of what they have 'claimed' their analysis on the impact of adding deferred loans to credit reports has told them; in that the 'likely' impact would be positive.

Or perhaps you are an 'outlier' in such a study? :cool:

anna2007

Experian's words, as slippy as a Tory hoping for a majority:
"I've looked into how your Experian Credit Score from October 2014 would have been affected by your deferred student loans. Using the information you gave me it looks like there may have been a slight reduction in score from 965 to 954. It's not really possible to know exactly how the accounts would have affected your score without seeing exactly how they're recorded. As you know, at the moment the information doesn't show on your credit report but this should give you a realistic idea of how the accounts may affect your score. In your case we believe there would have been a very slight change to your score if the accounts were on the report you saw in October 2014."

http://www.experian.co.uk/assets/consumer/credit-score/images/score-screen/CE-score-explained.png

I know credit scores aren't everything, but it still really !!!!s me off that such a company, who I would never willingly choose to do business with, has any kind of control over my credit rating. Fcukers.

fermi

Experian's credit score overall is to be taken with a fairly large quarry of salt.

http://www.moneysavingexpert.com/loans/what-credit-scores-mean