ERUDIO student loans help

in Credit File & Ratings
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  • pbs84pbs84 Forumite
    31 Posts
    They may not like it, but they have no legal grounds on which to refuse it.
  • Well, that's something. I've got a friend in the same situation and she's so stressed out about it that she's talking about just starting to pay it back even though she is eligible to defer. It makes me so angry because that's, of course, precisely what they want, isn't it?
  • pbs84pbs84 Forumite
    31 Posts
    Definetly defer no matter what way you decide to do it. Just don't let them take the pee with the info they ask for if you don't want to give it. That is the main point.
  • Thank you, pbs84.

    God, I wish I could stop thinking/worrying about it all.
  • pbs84pbs84 Forumite
    31 Posts
    SLC didn't used to ask for property details, ask you to allow reporting of deferment to the credit agenecies, and the other things Erudio do. They were legally able to defer without a problem on just that.

    The law says you are entitled to defer if your gross income is below a certain level. It doesn't put any conditions on it other than that. It doesn't say you have to apply on a certain form, or give any other information.

    If they get snotty I would ask them where in the agreement or law does it say that you have to give them informmation not relevent to your gross income and not required by law or the loan agreement?

    The other optiuon is to use their forms but just cross out the parts that are none of their business.
  • The form says that omissions may result in civil procedures against you so isn't that very clear that you can't leave stuff out?
  • edited 23 March 2014 at 8:08PM
    pbs84pbs84 Forumite
    31 Posts
    edited 23 March 2014 at 8:08PM
    It means omissions relevant to your deferment. For example, if you declared your income was below the threshold and you omit to list that you have a 2nd job and the income from that, or you have an income from other sources you don't declare, then obviously those sorts of omissions.

    They obviously want you to think it applies to all the info they ask for, but they have no basis in law for taking action against you if you don't give them information that isn't relevant to your deferment.

    The only info relevant to your deferment is proof of gross income.

    They want you to think that you have to use their forms. Nothing in law says you do.

    They want you to think you have to give the extra info they ask for. Nothing in law say you do.

    They want you to think that not using their forms or not giving non relevant information means they can refuse deferral. Nothing in law allows the to insist on that info, refuse deferral if you fail to give it, or take action against you if you don't.

    It's all very carefully designed to subtly mislead and panic you into giving information they are not entitled to, and agreeing to extra terms like sharing deferment data with the credit agencies that was never part of the original agreements.
  • ericcthekingericctheking Forumite
    328 Posts
    Do you think there is any comeback for people that already signed the deferment forms?
    Can they retake away the consent for erudio (arrow) to share information with credit agencies?
  • pbs84 wrote: »
    I agree with most of that except a few things.

    My loan agreements certainly say that I'm obliged to give them up to date bank details for a direct debit, unless they agree otherwise.

    Also requesting copies of bank statement may be reasonable if there is no other way to prove gross income. Although you would be entitled to blank out parts that are not relevent.

    Hi there, the blog you mentioned is my effort to examine the issues affecting people with these pre-1998 student loans and to look at the ways in which one might best deal with Erudio.

    Having read the Credit Agreement that came from the Student Loans Company, I am of the opinion that it is not a legal requirement to keep the loan manager (Erudio) informed of the borrower's current bank account or to have a direct debit in force. Speaking from experience, I cancelled my direct debit & bank account years ago without any backlash due to the fact that I earn under the threshold monthly allowance. The Student Loans Company knew that i had done this and never penalised me for this action. I agree that if I should become eligible to repay the loan it would be my responsibility to arrange a method of repayment with Erudio.

    You can read more information about this matter on my blog post: Do I have to give Erudio my current bank details and set-up a direct debit on my account?

    all the best, :)
  • ericcthekingericctheking Forumite
    328 Posts
    What does anyone have to say about people who have unwittingly signed the deferment papers. Do they have any comeback?
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