ERUDIO student loans help

Lungboy

It's when the first installment of your final loan was paid out, not first of first. I think.

anna2007 wrote: »

Some of the stuff you've redacted might be of interest to Erudio, e.g. if it's an allowance rather than a deduction - don't know how your payslip's set up, but it might not be obvious it's a deduction? And it's not just gross earnings, but gross income that counts, so if you were paid a regular mileage allowance for example, they'd want to see that. The tax info probably helps them confirm there's no second job/extra income.

I'm not sure there's any real benefit in withholding that info, so it may help a future court case if you've shown you're being as upfront as you can be about your earnings? ... although I completely understand why you'd want to limit any information you give these plebs...

The main reason i removed tax year to date is that my wage dropped significantly half way through the year, so my tax to date is meaningless when related to my current wage.

rizla_king

Final loan. yes.

anna2007

fermi wrote: »

Regulations say regarding the 25 years write off that:

"when the last agreement for a student loan has been outstanding for not less than 25 years"

So it's not to do with when repayments are due, but when there is first technically an amount outstanding on your final loan.

Which would be once you have received the 1st payment. It would be outstanding then, even though not due to start repayment until the April following graduation.

Or so BIS have said in writing to anna2007 in this thread somewhere anyway.

They said:

It's worth mentioning that Erudio confirmed the same as BIS in writing, there's no way for them to wriggle out of that regulation or twist it.

What Erudio did make a point of stressing is that cancellation only applies if there are no arrears. So they go out of their way to create arrears by a combination of incompetence and deception. Typical DCA behaviour, but it's all OK because our Government apparently selected Erudio with due diligence...

Bungaroosh

anna2007 wrote: »

What Erudio did make a point of stressing is that cancellation only applies if there are no arrears. So they go out of their way to create arrears by a combination of incompetence and deception. Typical DCA behaviour, but it's all OK because our Government apparently selected Erudio with due diligence...

Not wishing to wish my life away ... but it seems that if cancellation is due 25 years after the first payment of the final year's loan, it will be written off in five years' time.

There are still arrears that are on my account -- due to exactly that that you mention above, Anna. Loads of farting about and back and forth from last year. (Never ONCE did I have the teeniest trouble with SLC in all those years). Once my deferment is granted for this year (more below), I'll try getting the arrears removed that first appeared on the annual statement in September last year. If I can't get them removed (after going through the motions and then eventually to the FOS if no joy from Erudio), I'll set up a standing order for 63p per week for the next four or five years so it'll be paid off by the timem the 25 years are up and they can cancel the loan without pulling the [unfairly applied] arrears scam.

As for this year, 1st June -- sent form with section 9(e) crossed out and the black box on the final page crossed out. I also omitted my date of birth from the front page.
On 12th June I phoned them -- they said I needed to send page 1 with my date of birth on it.
Then on 17th June I phoned them again and they said any amendments to page 6 ("Certificate and Warranty") would mean they would refuse deferment. So I had to send that in as well.

My deferment date is late because of their fannying about last year (hence the one month's payment arrears that are listed after I claimed it back through my bank's direct debit guarantee). I know some others have managed to get deferred even when scrubbing out section 9(e) of the form, but I just want to get deferred and then concentrate of getting the arrears removed.

Sorry for the slightly rushed posting but I just wanted to get it down to let others know.

Thanks again to all here who give such invaluable help and advice so freely! :T

:beer:

plong979

Anyone know what would happen if i accept the FOS decision but send in the original SLC DAF? Erudio have inherited those T&C, so surely they can't refuse?

Mr_McGuffin

fermi wrote: »

All their webpages have been amended with this at the bottom.

Erudio Student Loans Limited is authorised and regulated by the Financial Conduct Authority for accounts formed under the Consumer Credit Act 1974 (as amended). It is registered on the Financial Services Register under registration number 0659653

So Erudio apparently announces full authorisation on the Financial Services Register. Ahead of this showing on the publicly available register itself, or the Interim Permission Consumer Credit Register.

Pluthero

plong979 wrote: »

Anyone know what would happen if i accept the FOS decision but send in the original SLC DAF? Erudio have inherited those T&C, so surely they can't refuse?

Erudio would not dare take you to court but may refuse any compo payment unless you use their highly SUSPECT DAF. I am expecting a similar FOS ruling myself. They really are NOT touching the whole DAF issue. Shame on them and the Govt. But hey the little people dont count anymore. All good business for their mates in the CITY

StudentLoansSuck

BaffledByErudio wrote: »

Well, seems old Georgie Boy's straight in there.
Aiming to 'make the UK one of the most prosperous in the world'.
Those poor income contingent loan holders don't know what's coming to 'em!
(I apologise, clicking this link means you'll have to read a Daily Mail page)!

Amen!

I hade to remove the link from your post. Something about I'm not allowed to post links.

I've been warning anyone with an IC loan since 2014 (with no success), when this whole Erudio mess started. Someone with an IC loan asked me to assist them with their self assessment form. As soon as the question about student loans came up and we started answering the questions d!jà-vu. I had to pull out Erudio's DAF 1.0 to make sure I wasn't dreaming. It was as if DAF 1.0 was made for this particular group.

This year I was ready for the [FONT=&quot]tomfoolery. Set my alarm and I was ready to go[/FONT]

• [FONT=&amp]No deferment form. Complaint - reminding those involved that in order to fulfil my part [/FONT][FONT=&amp][FONT=&amp]under the original [/FONT]T&C's of the agreement, I needed the form to be sent to me within a reasonable time scale. And that any [/FONT]arrears on my account due to this delay would be their fault.

• The threat I received regarding the fact that I did not have a valid DD on my account which [FONT=&amp]constituted a breach of my T&C's was quickly proven to be fanfiction when I could show that a) there was no clause in my T&C's which said that. b) I have two letters telling me that a DD was not a requirment for deferment and c) IF or when I was required to start making repayments they would be paid on time via other menthods like a pre-paid card. DD maybe the '[/FONT][FONT=&amp][FONT=&amp]preferred[/FONT] method' of collecting repayments, but that [/FONT][FONT=&amp]'[/FONT][FONT=&amp][FONT=&amp]preferred[/FONT] method' aka [/FONT][FONT=&amp]unfairly raiding my bank account while purposely procrastinating over my deferment [/FONT][FONT=&amp]is something I cannot afford.[/FONT]

anna2007

@ StudentLoansSuck on your last point re DD's, we're definitely under no obligation to maintain a DD during deferment, but once repayments are due, the Regs say this should be by DD, unless the lender agrees to an alternative payment method. We don't have a choice on that, although I can't see a lender refusing payment, whatever form it takes?

As for the carry on with Erudio insisting on a DD during deferment, nothing more than an empty threat, but results in plenty of intimidation and opportunity for "erroneous" bank raids.

Messica

Can anyone advise? I am just deferring my 1990 loans again ... And am concerned because of the child maintain a repayments I receive take me over the threshold, whereas they were previously not taken into account, quite rightly.
Also, I am now in rented accommodation and have just bought a house( awarded in court in divorce) but have to see my rental property out ..... So j get income from that house which doesn't even cover my rent here .
Erudio form suggest I add this up as extra income on top of the child maintenance I was awarded in court .... Which takes me over the limit, even though I am actually worse off than I was before ! If they make me pay back the loan I will not be able to pay my rent ...... What should I do ??