ERUDIO student loans help

Lungboy

anna2007 wrote: »

If it's the account you have your DD set up on, then they have the account number and sort code already. If it's a different account then yes, black out everything you don't want them to see. I did this for our joint account, the only info left was the three entries I wanted them to see. The rest is none of their business.

I saved the bank statement as a jpg and opened with Paint, easy to block out the bits you want (a lot easier than the black marker I used last year!). Printed and scanned in again, as I wasn't sure if the blocked bits could be undone by Erudio on the original jpg.

Aye, it's accounts other than the DD account. Will black out the lot, thanks.

MPE-J

I phoned back and made a complaint citing section 9bii and explaining that I was deferring for the year ahead and had supplied proof of what I'd be earning for the year ahead and that previous payslips did not reflect this as they related to a previous salary.
A 'manager' will be calling me back.
The fact that they actually said if I'd left my job and got s new one it would be different winds me up so much.

Pluthero

fermi wrote: »

Brain dead and false logic from Erudio there. Job or employer is irrelevant.

The deferment conditions simply require you to show that your income for those months is unlikely to be over the threshold.

Make a formal complaint, telling them that you will be taking them to the ombudsman etc if they continue to refuse your deferment which is valid and enough under the Regulations.

They are not brain dead. It's just sharp practice in order to maximise profit!

Please email the fca and report them.

On another point. Do you have to send 3 months pay slips or will one months suffice?

fermi

Some of the Crapita contracted staff certainly are.

However, I take your point. It's a devil's brew of the two.

plong979

Pluthero wrote: »

On another point. Do you have to send 3 months pay slips or will one months suffice?

SLC asked for 3 months worth.

clairet707

I am due to start repaying my loans due to a pay rise in January, HSL have taken their part of the first repayment but Ive just realised that Erudio no longer have my bank details. I moved house a month ago so not 100% sure where all my paperwork for Erudio is and Ive also realised that I havent had any deferment paperwork from Erudio this year (Ive had it from HSL).

Do I ring them or wait for them start nagging me to pay up? (Im also going on holiday on tuesday for a week so wont have much time between now and mid May)

fermi

I would contact them. as if you should be paying for the time being, then you don't want to get in more arrears than necessary.

Not heard of them doing it to anyone yet, but technically if in arrears then they could default/terminate the agreement, and demand the loan back in full. Which would mean you could also nt longer defer in the future, or have them written off if old enough.

fermi

New page on Erudio site.

http://www.erudiostudentloans.co.uk/news/default.aspx?itemid=MbTWglxj

30/04/2015

Statistics show more and more people are becoming self-employed. We’ve summarised some of the key pieces of information for customers who fall into this category and who may not have yet submitted a deferment application since their employment status changed.

Although the deferment process for self-employed customers is exactly the same as those in employment, different sections of the Deferment Application Form (DAF) will be relevant.

Customers who are self-employed, or who get part of their income from self employment, need to fill out the amount they earn from self employment in section 4(b) and section 8 of the DAF. Importantly, for the self-employed element of your total income you need to declare your net income (i.e. your income after deducting business costs) and not your gross income as is the case for the majority of other forms of income considered in the DAF.

If you are declaring earnings from self employment income and are not enclosing a tax return or SA302 (a form summarising income that has been reported to HMRC), or if your earnings from self employment have changed since the period covered by the tax return, you will need to supply one of the following:

1. Copies of three months’ bank statements showing self employment income and purchase invoices; or
2. A copy of an accountant’s letter (on company headed paper), signed and dated within the last three calendar months, confirming your net income.

As you fill in the rest of the DAF, please ensure you consider any other forms of income you might receive, such as dividends, rent, certain state benefits (see section 6 of DAF), income from family, spouse and other third party payments. If you are in doubt about what should be included and can’t find the answer you need in our How to Guide please call 0333 003 7188 and one of our team will be able to help.

When submitting supporting evidence for proof of earnings and other income, please remember to send copies and not originals, as their return cannot be guaranteed. Black and white copies are sufficient in all cases.

Brooker_Dave

Yet more hoops to jump through...

Lungboy

At least they are finally asking for net income, weren't they previously saying that self employed had to declare gross?