ERUDIO student loans help

teffers

zombi wrote: »

Quick question, If I was applying for a mortgage would I have to mention the student loans (even though they are in deferment)?

Hi zombi,

My mortgage broker wanted to know about my PAYE type loan yes. Mainly because it can be seen on my payslips. I don't think I would have mentioned my pre-98 loan (even if it hadn't of been Statute Barred) as it doesn't appear on my CRF.

He said some lenders include it and some don't - it's down to the individual company whether they want to take it into account in the affordability checker.

Sarebear78

Voyager2002 wrote: »

Should she sign the DAF?

My friend has deferred (low income) ever since she graduated about ten years ago. She believes that all her student loans will be written off next year when she reaches the age of 50.

Since the Erudio DAF seems to involve agreeing to substantial but unspecified changes to the conditions of the loan, I advised her to think carefully before doing so and to consider a deferral by letter. Her response was that she signed an Erudio DAF last year, so any possible damage has already been done. So any thoughts on this situation?

I would sign it if I was her but amend it as she sees fit. I signed the DAF, wrote on it that I didn't consent to any changes to the original t and c and removed (totally) any bits I didn't agree with (last bullet point and the data usage crud at the end) and was deferred smoothly this year. IMHO deferral by letter would open up a can of worms when she is so close to write off whereas she can amend the form to protect her terms and condition without the hassle.

anna2007

Here's the Times Higher Education article that Andrew McGettigan mentioned to erudioed in a tweet. A bit of a missed opportunity, as no-one asked about future plans for student loan sales (maybe the question was asked but didn't make it into the article). Andrew's question on page 2 asks instead about changes to terms and conditions (which is the risk for the IC loans), and I wouldn't say the answers categorically rule it out - saying there are no plans to change t&c's is not the same as saying they won't do it!

http://www.timeshighereducation.co.uk/features/the-election-panel-grill-the-politicians/1/2019742.article

plong979

Still waiting for the DAF...absolute joke.

anna2007

plong979 wrote: »

Still waiting for the DAF...absolute joke.

If you're applying by letter, you might as well send it off now? It's unlikely Erudio will send an application pack if they don't consider your account to be in deferment.

I received my deferment pack on Monday, about 7 weeks before deferment ends, so an improvement on the first batches that went out.

erudioed

anna2007 wrote: »

Here's the Times Higher Education article that Andrew McGettigan mentioned to erudioed in a tweet. A bit of a missed opportunity, as no-one asked about future plans for student loan sales (maybe the question was asked but didn't make it into the article). Andrew's question on page 2 asks instead about changes to terms and conditions (which is the risk for the IC loans), and I wouldn't say the answers categorically rule it out - saying there are no plans to change t&c's is not the same as saying they won't do it!

http://www.timeshighereducation.co.uk/features/the-election-panel-grill-the-politicians/1/2019742.article

Im assuming they missed his questions out, i have asked and let you know when i here back.It really does seem to be an avoided subject, much like this whole Erudio affair. I have incidentally twaated the new NUS President Megan Dunn who said in her campaign the NUS needs to modernise and started voicing opinions on austerity policies, as well as reform, and stop being an arm of the Labour party. I twaated many NUS affilated people yesterday, and again, all i got was one snotty message asking why i had contacted him. That makes 2 snotty replies out of the probably close to a thousand individual twaats ive sent out, both coming from student related people. Incidentally, i just currently had luck with Michael Rosen, who some of you may know, and is also a teacher..he sent the message out to 64000 contacts, with quite a few of those passing the message on as well. Without doubt thus far, the top groups showing interest are teachers in clear top place, followed by Labour Councillors and Green election hopefuls. Bottom of the pile, below what i correctly or incorrectly term celebrities and the Liberal Democretins is anyone related to the NUS. I didnt even bother with those clearly affiliated with the conservatives.

plong979

anna2007 wrote: »

If you're applying by letter, you might as well send it off now? It's unlikely Erudio will send an application pack if they don't consider your account to be in deferment.

I received my deferment pack on Monday, about 7 weeks before deferment ends, so an improvement on the first batches that went out.

Yeah maybe I should, but to be honest its not my job to chase up a dodgy DCA and I'd rather no waste any more of my money in sending a letter which they will dismiss. I'll just wait for them to get in touch.

If they send me a letter after 15/05 about missing my deferment I'll laugh.

anna2007

@ plong979 All you're likely to get from Erudio is the 6 monthly arrears notice.

You need to be able to show that you provided evidence of income for the next deferment, same as last year. That way, when you threaten/use court action, you can prove you abided by the legal requirements for deferment.

If you do nothing and it drags on for months, you might have to make some repayments, as deferment can only be backdated a maximum of 3 months.

Lungboy

My 3rd payslip under the limit has arrived so I'm ready to try deferment without using their DAF. How do people recommend I keep track of what I've sent and when? Id like to include a detailed list of everything that's wrong with the current daf and why I'm refusing to use it, has anyone done a blow by blow breakdown of the problems with it?

Pluthero

plong979 wrote: »

Yeah maybe I should, but to be honest its not my job to chase up a dodgy DCA and I'd rather no waste any more of my money in sending a letter which they will dismiss. I'll just wait for them to get in touch.

If they send me a letter after 15/05 about missing my deferment I'll laugh.

You should send your deferment 'income evidence' BEFORE your deferment date ends. Otherwise £rudio can reasonably claim you are in breach of terms.

I KNOW they are frustrating to deal with BUT you will be playing into their hands by ignoring them. Just keep a good paper trail of your good intentions in the VERY unlikely event of legal action in the future.

Remember that Erudio are similar to the smell company that ran HONORS/THESIS a few years back. They will threaten and bully like a DCA but in reality thats all they will ever (and can) do/ And why wouldn't they, its a great business model:)

Only thing to challenge them on is CRA reporting and I have not heard of ONE loan being registered YET !

Indeed it remains to be seen if the CRA threat will be a busted flush.....