ERUDIO student loans help

in Credit File & Ratings
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  • What does anyone have to say about people who have unwittingly signed the deferment papers. Do they have any comeback?

    I really don't know.

    I wish :money: would get on the case with this whole thing. Obviously, we can't expect him to read everything, but this seems like such an issue for so many, it would be great to have his advice. I trust him! Wonder if it's worth tweeting him about it...
  • Blimey, I have only just logged back in, and am now very worried about all of this!

    I have sent back the deferment forms and signed as I can't afford to start paying back the monthly payments...

    Does anyone know how this is going to effect credit scores?? If you have the loan but it states it is deferred surely this shouldn't effect credit scoring too much, or is this just wishful thinking by me??
  • ericcthekingericctheking Forumite
    328 Posts
    ✭✭
    TazFrank1 wrote: »
    Blimey, I have only just logged back in, and am now very worried about all of this!

    I have sent back the deferment forms and signed as I can't afford to start paying back the monthly payments...

    Does anyone know how this is going to effect credit scores?? If you have the loan but it states it is deferred surely this shouldn't effect credit scoring too much, or is this just wishful thinking by me??

    I think you need to kick up a fuss about this, as you were tricked into signing new terms and conditions on those deferment forms.
    This all needs to be exposed as much as possible.
    Could erudio/arrow be accused of fraud anyone?
  • How do I kick up a fuss?? Who do I go to?? DO i send erudio another later stating I do not give my permission for them to give my info to CRA's?

    When I had the original letter from Erudio stating that my loan had been sold there was a long form in that letter stating 'in accordance with the terms and conditions under which the original loan was made available and with the Data Protection Act 1998, I hereby agree that with effect from this date, data on my loan opened in or after 1998 which relates to up to date payments may be shared with credit reference agencies'

    Obviosly I didn't sign this and send it back! SO I am pretty gutted now if my deferment form has now tricked me into signing the same thing.....
  • Well, Taz - like I keep saying, I am trying to get Martin Lewis on board because I trust what he says and I trust him to fight our corner.

    Other than that, I'm taking advantage of 30 mins' free legal advice I can access through UNISON so I know, from someone who knows, exactly what information I have to give them, and what I do not.
  • Can you let me know on here what you find out? I take it you are still in deferment too?

    Thanks
  • Yes, I am and I will.
  • babyboosbabyboos Forumite
    33 Posts
    10 Posts
    hi anyone in deferment at present did it say this on your letter mine says under current status repaying but it was deferred end of last year
  • I sent Martin a tweet on twitter as i too got my deferment notice. i too have concerns. I also noticed that they now include child & working tax credits as part of my gross income calculation. I remember last year i had to declare what i got but the amount was not counted as income.
  • HI again,

    I have written a letter today to Erudio as I have already sent my deferment form in and did not realise that by doing this I was agreeing to allow them to add things to my credit file!

    Would someone mind scanning this and letting me know if its ok, I have pinched things from other places, not sure if it will help but makes me feel a bit better!

    Dear Erudio Student Loans,
    I note in the small print of your deferment form it states that
    In accordance with the terms of your original agreement We have the right to undertake checks to confirm you are eligible for deferment.
Accordingly therefore, by submitting this application you confirm that you consent for Erudio to perform relevant checks at CRAs and Fraud prevention agencies.

    *
If your application for deferral is accepted, information that you have a deferred loan will be registered with CRAs*

    I believe the information in bold is in addition the the original terms and conditions of my original student loans

    Please note that I do not consent to any additions, amendments, or otherwise, to the Terms & Conditions of the original loan agreement by Erudio Student Loans Ltd. This includes the recording of any student loan deferment information with any Credit Reference Agency, with the exception of where a formal Notice of Default has been served in accordance with The Consumer Credit Act (1974) and The Education (Student Loans) Regulations (1997).

The recording of any information with any Credit Reference Agency in relation to the right of deferment under Section 11 (1) of The Education (Student Loans) Regulations (1997) will be constituted as a breach of the original loan agreement, and may result in civil proceedings being brought against Enrudio Student Loans Ltd.
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