ERUDIO student loans help

showmethe£

anna2007 wrote: »

I'm gathering the supporting documents for sending in with my deferment application and will be submitting bank statements from the last 3 months - only because Erudio have insisted on these from others, so thought I might as well send them now.

Can anyone offer advice on how much detail to show on the bank statements? I was going to black out all transactions and balances, other than the Child Benefit and CTC payments coming in from HMRC, but will Erudio want to see all credit entries on the statements, e.g. to show that my husband hasn't paid any money into my account?

If they need to see all credit entries, I have a few payments from Paypal from personal items sold on Ebay - do I need to send print-outs from Paypal to show this was the source, rather than something else that might be classed as income?

Can't believe how much worry this is causing - completely stressed out in case I get it wrong!

Hi anna2007 - did you get any advice re you thread? I sent my form back on 31 March and rec'd letter back on 9th May asking me to send bank statement showing the child [universal] benefit [set by Govmt] £20.5 a week - being paid into my account - and was wondering if acceptable to blank everything else out? I know without a doubt I don’t have a income of 28+K per annum BUT I’m worried they will scrutinize everything to find a loop hole.



I called Erudio on Fri and they told me that they will take money out of my amount nxt week as unlikely it be dealt with before then. They advised me to call them and ask them to cancel it the day before its due. They said I would then go into arrears but could clear it once they have sorted my claim. I asked a HSBC rep and he advised me to not go into arrears as it could take years to clear and claim the money back instead. I'm so confused!!! any help appreciated!

anna2007

showmethe£ wrote: »

Hi anna2007 - did you get any advice re you thread? I sent my form back on 31 March and rec'd letter back on 9th May asking me to send bank statement showing the child [universal] benefit [set by Govmt] £20.5 a week - being paid into my account - and was wondering if acceptable to blank everything else out? I know without a doubt I don’t have a income of 28+K per annum BUT I’m worried they will scrutinize everything to find a loop hole.



I called Erudio on Fri and they told me that they will take money out of my amount nxt week as unlikely it be dealt with before then. They advised me to call them and ask them to cancel it the day before its due. They said I would then go into arrears but could clear it once they have sorted my claim. I asked a HSBC rep and he advised me to not go into arrears as it could take years to clear and claim the money back instead. I'm so confused!!! any help appreciated!

Hi showme, thanks for your post, that's reassuring to know they only want to see your CB payment on the bank statement. I'd suggest you black out all other transactions on your statements based on that, I'm going to do the same.

So Erudio are suggesting that you let your account go into arrears?! Your bank's right to advise you against this, any missed repayments mean Erudio can chase you for the whole loan. The deferment can be backdated up to 3 months, so any payments they take would have to be refunded to you once they process the application. If you've paid by DD, you have the DD guarantee to rely on if Erudio mess about with the refund.

I'm not sure of the legality of them taking payments when in receipt of your deferment application, but I think I read on their website that's what they do.

Good luck with it all, it's not easy deciding how best to deal with them.

showmethe£

Thanks Anna2007 im just about to email them all the info now as they said I could email, we'll see if they change their minds after I have.
I'll let you know how I get on!


Thanks also re advice on arrears - I better make sure I have enough cash in there! Will they then want me to prove where I got that income from hahaha [being sarcy]!
Good luck to you too :-)

ptolomy

Thanks for the advice everyone, I was going to call Erudio today but then got a slightly confusing letter saying they are dealing with my complaint this morning even though I haven't formally submitted one!
The letter did at least say that my account is suspended so they won't be taking any money and no DD has gone out of my account, which is quite a relief.
I still think I'll just have to write to them, then if they still persist in this ridiculousness, it should be easier to go the the Ombudsman

ptolomy

I called Erudio on Fri and they told me that they will take money out of my amount nxt week as unlikely it be dealt with before then.

Is it not possible for them to freeze your account while they sort this out? I was told over the phone and now by letter that they would suspend any collection while they dealt with my complaint.

I would also be really nervous about getting into arrears - I had the same thing from one of their team leaders last week, he said he could cancel the direct debit but I just don't trust them not to invoke the thing about recalling the loan if its in arrears.

geluc

I first had a student loan in 1997, (then 1998,1999) whilst doing nursing course. As I first took out my loan in 1997, does that mean it will be wiped off when I reach 60? Or only the 1997 loan, and I will have to wait until 65 for the 1998 and 1999 loan?


If I take early retirement, will I then still have to pay back the student loan? (my health isn't good) - even if I get a part time job afterwards?


Lastly, can someone tell me, how do they look into your circumstances? I had a part time job, so never had a problem with deferment. Just sent in payslips every year. Over the last year, I have taken more hours with a different employer, and think I come over the threshold. If I submit my low waged slips, is there anyway they can find out that I have a second job? How carefully do they scrutinise the tax codes etc, and can they check with the tax office?


If I have to start paying, I will be unable to support my family, I help with their high rent and supplement the children, as my son in law was made redundant due to disability (wheelchair bound) and finding it difficult to get another job.


I feel as though I am between a rock and a hard place. Help!

fermi

geluc wrote: »

I first had a student loan in 1997, (then 1998,1999) whilst doing nursing course. As I first took out my loan in 1997, does that mean it will be wiped off when I reach 60? Or only the 1997 loan, and I will have to wait until 65 for the 1998 and 1999 loan?

Depends how old your were when you took out your final loan?

See: --> http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3867066&_dad=portal&_schema=PORTAL

Rosskie

So Erudio are suggesting that you let your account go into arrears?! Your bank's right to advise you against this, any missed repayments mean Erudio can chase you for the whole loan. The deferment can be backdated up to 3 months

I don't think they can recall the loan and issue a default if you miss a payment you shouldnt of had to make because they have a backlog. Otherwise companys would be holding up paperwork then issuing charges/defaults all the time. You shouldn't be put in a negative situation because of their failure.

Also, since the deferment can be backdated 3 months, I would expect you have 3 months before they can call it a default.

My deadlines in a few days and no reponse to my application yet, also they there isn't a DD setup. I expect I'll hear about the deferment before I get an arrears letter, but will see.

rizla_king

rizla_king wrote: »

Some tests for any potential Erudio rep.

• Admit that legally you do not have to use their forms in order to be eligible to defer. A letter with the required evidence is legally sound.
• Admit that it is not a legal condition of deferment that you have a direct debt it place. Nor is a breach of the agreement that entitles them to refuse deferment or call in the loan.
• Admit that a P60 is not required. 3 months wage slips is all is needed.

If the rep fails on ANY of those or tells the usual lies then we will know we won't be able to believe one word they say.

.

We are waiting Erudio. Do you have the guts to come clean?

:think:

confusedaboutall

Hi

I was advised i should post this question here, as this thread is full of Erudio pros who may be able to help!

I tried to defer my student loan last month as im still earning FAR under the threshold for repayment. They have sent me a letter now stating my P60 info wasnt enough and they want:

"If you are living from savings or an overdraft facility please forward copies of your recent bank statements showing your name and sufficient balance or overdraft limit"

I have an ISA with £14k in it, which ive been saving purely from my meagre salary for the past 12 years. Surely they cannot call this income, and demand i use it to repay my loan when im still about £800 short of the threshold every single month??? And are they entitled to see my bank statments or anything else that isnt relevant to my actual financial incomings?

Help!

Thanks