ERUDIO student loans help

Lungboy

Shame there was no judicial review into the selling off of our loans

datlex

Does anyone know why after years of being able to scan and send evidence to Erudio they suddenly have gone back to the dark ages and now have to have paper copies? For me that is 12 pages of time sheets (on A4) as I get paid weekly, so a lot of paper to fit in the silly little envelope they provide.

Brooker_Dave

datlex wrote: »

Does anyone know why after years of being able to scan and send evidence to Erudio they suddenly have gone back to the dark ages and now have to have paper copies? For me that is 12 pages of time sheets (on A4) as I get paid weekly, so a lot of paper to fit in the silly little envelope they provide.

They have no intention of letting you defer easily, so they make the process needlessly difficult and slow, in the hope that they can steal some of your money via direct debits or that you'll give up and pay them every month.

datlex

Brooker_Dave wrote: »

They have no intention of letting you defer easily, so they make the process needlessly difficult and slow, in the hope that they can steal some of your money via direct debits or that you'll give up and pay them every month.

probably true which is why I don't have a dd set up. Don't trust em.

taikataika

I've just realised my question might be better asked in here.

I had a pre-1998 student loan that was sold to the evil people at Erudio. Despite being easily eligible for deferment their scare tactics and intrusive forms were too much for me and I continued paying off my loan through maternity leave and beyond just to avoid a tarnished credit rating.

My last direct debit payment to them put my account in credit (just by a few pence), but they have just cancelled this amount that they effectively owe me back by putting a line on the statement saying "Write-On" for the same amount leaving the balance as zero and cleared.

Like I say, it's only a few pence, and were I not already seething about the company I might have just let it go, but I wanted to find out for sure – is this legal to take too much from a DD, "write on" the money and not repay?

Thanks in advance!

erudioed

taikataika wrote: »

I've just realised my question might be better asked in here.

I had a pre-1998 student loan that was sold to the evil people at Erudio. Despite being easily eligible for deferment their scare tactics and intrusive forms were too much for me and I continued paying off my loan through maternity leave and beyond just to avoid a tarnished credit rating.

My last direct debit payment to them put my account in credit (just by a few pence), but they have just cancelled this amount that they effectively owe me back by putting a line on the statement saying "Write-On" for the same amount leaving the balance as zero and cleared.

Like I say, it's only a few pence, and were I not already seething about the company I might have just let it go, but I wanted to find out for sure – is this legal to take too much from a DD, "write on" the money and not repay?

Thanks in advance!

Really? You are choosing to pay and not defer when you are easily eligible? They are threatening to report all loans, whether they are being paid off or in deferment, so i strongly recommend spending the money on your new kiddie and giving these sharks nothing because if they choose to report our loans to CRAs, yours will also be reported whether paying or not. It is because they know these tactics scare people into paying that they are trying them again here. I would suggest deferring asap and backdating it as well as far as you can. Those few pence are the least of your worries, you seem to be throwing a not insufficient amount of money away every month...but just lodge an official complaint, threaten to take it to the ombudsman if you are in the right and you will get that back. Its very easy to complain.

BorderReiver14

I would echo what erudioed has advised... If you have never applied for deferment then I assume you have never signed one of their DAFs and as long as you didn't fill in their acceptance slip from the NOA then they have no right to report your loan to a CRA. You however have every right to defer!

anna2007

@ Taikataika Erudio are in the habit of making little adjustments to balances owed, whether it's your monthly DD payment, balances on annual statements, settling the final amount- they're good at getting it wrong. It's anyone's guess why that is, but if Arrow Global are involved, profit's most likely the motivating factor for their little 'mistakes'.

Erudio haven't tarnished anyone's credit rating yet, as things stand (nearly two years on), it's a threat, nothing more... but tarnished credit ratings, if it ever happens, may cost Erudio a lot more in compensation/damage to repution (if that's possible) than what they gain in any loan repayments from people who don't owe anything. I'm sure they'll have done their risk assessments and already know whether that's a risk worth taking on our student loans.

Erudio can't legally hold on to money you don't owe, but if you're talking pennies, I'm not sure any ombudsman or court would think it reasonable for you to pursue? If you did want to make an official complaint, there's the bonus that it would cost Erudio £500+ in FOS fees

I agree completely with erudioed - no-one who has a legal right to deferment should be paying a penny to a DCA we've had no choice but to contract with. We're not dealing with our beloved Government anymore (who had no choice but to stick to the rules and law on their watch), and our Government even ok'd the use of different policies and procedures (tactics) in their own contract with Erudio. But we're not obligated to accept the terms of their new contract, or Erudio's tactics/attempts to impose new terms, we're only bound to the terms of the original contract.

I hope anyone with the will to reach post 4916 :eek: of this thread, realises there's no need to pay Erudio a penny they're not owed. On a forum dedicated to money-saving, why give your money away to a DCA that you're not due to pay?!

anna2007

datlex wrote: »

Does anyone know why after years of being able to scan and send evidence to Erudio they suddenly have gone back to the dark ages and now have to have paper copies? For me that is 12 pages of time sheets (on A4) as I get paid weekly, so a lot of paper to fit in the silly little envelope they provide.

Both years of deferment with Erudio, I've backed up the paper copies sent RM registered post with email and read receipts.

They were fine with it first time, but said last deferment (May this year):

Please be aware that email is not a secure method of communication and should not be used to return documentation on future applications.

Our information's hardly secure with Erudio anyway and I'd rather have that extra paper trail when thing's go wrong (and they will).

You're not sending original documents through the post - if you get a read receipt, and even more so if they acknowledge receipt of emailed copies, they can hardly refuse to process your application on the basis that they think email's "not a secure method" of getting the info to them?

taikataika

Thanks guys. You're absolutely right, I shouldn't have paid them a penny and if I'd been in a better place I would have been up for the fight. Sadly it was just too much at the time, and too late now to defer and backdate. The deferment form they originally sent me and the calls I had with them were far too stressful at an already difficult time.

So, yeah, now I regret giving in to these *********, and my bitterness is why I'm wondering if I can cause them some trouble in another way.

"Erudio can't legally hold on to money you don't owe, but if you're talking pennies, I'm not sure any ombudsman or court would think it reasonable for you to pursue? If you did want to make an official complaint, there's the bonus that it would cost Erudio £500+ in FOS fees "

I think this nails it anna2007! Costing Erudio anything would be at least a small satisfaction at the moment I'll see what I can do.

Good luck to all of you with your fight – I think it's absolutely shocking the way we've been treated, and the way no-one seems to care apart from those of us directly involved is terrible