ERUDIO student loans help

anna2007

Just found my SLC annual statements for 2008, 2009 and 2012, the ones I used in FOS complaint. They're all originals.

The 2009 and 2012 ones have the 3 new sections word for word. The 2008 has some info on loan account numbers, basis of interest charged, deferment of loan repayment, queries and change of details, but it has NONE of the 3 new sections required by CCA. The required sections on the later statements are on the reverse side of the statements - I'll post up a copy of all 3 statements in a bit.

:eek:!!!

FuriousFeline

I finally received a DAF from Erudio in today's post. However, the accompanying letter makes no mention of the end of my current deferment period being extended by 56 days to compensate for the delay (as they themselves said in the News section of their website), so I have now put in a complaint to them.

anna2007

Copies of SLC statements, this is the reverse side of all 3-

2008:
https://www.dropbox.com/s/6j7qg4noruh60k3/SLC%20statement%202008.jpg?dl=0

2009:
https://www.dropbox.com/s/tvip76z2ntjt2s6/SLC%20statement%202009.jpg?dl=0

2012:
https://www.dropbox.com/s/uv3vmdmaby5m3zn/SLC%20statement%202012.jpg?dl=0

I see the document reference, bottom left is the same on the two later statements, but the 2008 one has "32ASTB 11/09/2002" - if the statement template was updated back in 2002, there may have been legislative changes around that time too, so it's definitely worth checking further back.

anna2007

An important point to consider on unenforceability is that SLC were recently made an "exempt person" by virtue of Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2015 (SI 2015/447), so no longer requires FCA authorisation/regulation.

Why give SLC exempt status after all this time? Surely it wouldn't be to avoid any blanket decision by the FCA on enforceability of our agreements (their decision on the banks must be relevant to our agreements), as that would be a complete scandal and misuse of the Government's statutory powers?

BorderReiver14

So the bottom line is that BIS, the coalition government, SLC and Erudio knew there was a flaw and despite the legal implications, they hired PwC to carry out some work, struck an agreement (S&P) and are now hiding behind the commercially sensitive arguments to halt FOI requests in order to stop anyone highlighting that our agreements are potentially unenforceable so that Erudio may 'maximise profits'. They did not highlight this to Parliament and instead used ambiguous language to describe the loans as 'distressed' as the reason to pass on our loans. Crafty fuc&%rs!

BorderReiver14

anna2007 wrote: »

An important point to consider on unenforceability is that SLC were recently made an "exempt person" by virtue of Financial Services and Markets Act 2000 (Exemption) (Amendment) Order 2015 (SI 2015/447), so no longer requires FCA authorisation/regulation.

Why give SLC exempt status after all this time? Surely it wouldn't be to avoid any blanket decision by the FCA on enforceability of our agreements (their decision on the banks must be relevant to our agreements), as that would be a complete scandal and misuse of the Government's statutory powers?

That would appear to be exactly why... But a court could investigate this and Erudio still has liability as the owner of the debt. As you say, BIS reserved the right so it would appear from the S&P agreement to step in to any legal challenges.

esmerellda

Anna - Have you uploaded the right one as 2008 ?

anna2007 wrote: »

Copies of SLC statements, this is the reverse side of all 3-

2008:
https://www.dropbox.com/s/6j7qg4noruh60k3/SLC%20statement%202008.jpg?dl=0

2009:
https://www.dropbox.com/s/tvip76z2ntjt2s6/SLC%20statement%202009.jpg?dl=0

2012:
https://www.dropbox.com/s/uv3vmdmaby5m3zn/SLC%20statement%202012.jpg?dl=0

Lungboy

Oh, I'm silly, I checked my original loan documents for the early repayment wording, I didn't realise you meant my annual statements. Will dig those out too.

Anna: I tried to pm you but your mail box is full

fermi

Student loan deferment forms missing in latest Erudio blunder

MSE_Callum wrote: »

Embattled student loans administrator Erudio has failed to provide deferment application forms to thousands of graduates...

Read the full story:

'Student loan deferment forms missing in latest Erudio blunder'

Lungboy

I can't find my pre2007 statements, but 2007 and 2008 have nothing about early repayment on them.