ERUDIO student loans help

BorderReiver14

I hope you took the name of the Erudio rep and make a note of the time and date. The FOS can request a copy of the call. If your partner has submitted all his evidence and clearly shows he is eligible for deferment and the level of evidence provided was the same for you, then tell them to jog on. As you can read on this thread alone, their tactics seem to annoy 'customers' so much... They hope, you roll over and pay. If you do submit bank statements you can and should edit and delete entries that are none of their business as essentially they have very dubious data sharing ideas and strange notions of what our original terms and conditions are.
My advice is to lodge an official complaint to Erudio because until you do, you cannot start the FOS process.

KES!

Hi, can anyone please clarify a post from Martin Lewis? In a thread from abut 2014 he states that Student loans are writen off 25 years after starting payments or when you reach 60 (loans are1993 ad 1995). I have deferred since graduating and earned less than the threshold. If I start pating now, will the loan be written off this year or next year as that's 25 years? If I start to pay can I meet the 25 years criteria? Thanks if anyone can help. I also think I remember being told that the loan will cancel when I teach 40 as I recall a friend joking about it. Is it possibly that this is the case?

fermi

12. The lender will cancel the borrower’s liability to repay the loan if the borrower—

(a)dies,

(b)is not behind on any repayments under any agreement for a student loan and—

(i)was under the age of 40 when his last agreement for a student loan was made and he reaches the age of 50 or when the last agreement for a student loan has been outstanding for not less than 25 years, whichever is the sooner, or

(ii)was aged 40 or older when his last agreement for a student loan was made and he reaches the age of 60, or

(c)if the borrower can show the lender that he gets a disability related benefit and because of his disability is permanently unfit for work.

fermi

BIS clarified the above a while back, saying that

As mortgage style loans began to accrue interest from the day the first instalment was paid out to the borrower, the loan agreement became outstanding from this date (i.e. once there was a balance to be repaid and interest had begun to be charged).

Consequently, our understanding is that the 25 year period began when the first instalment of a borrower’s last mortgage style student loan was paid out.

erudioed

Heres a new one. I got 2 tweets today from people who both got letters today without the correct stamps on. They both had to pay £1.50 to receive the letters. One was telling the person they took a payment a day later than normal.
Heres a photo of the letter with the wrong postage and fee slapped on: https://twitter.com/erudioed/status/792410177890811904

GinOClock

Erudio has done this before:

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=115429

FOS said:

If Erudio sends Mr M post, then it, not he, should pay for it...

erudioed wrote: »

Heres a new one. I got 2 tweets today from people who both got letters today without the correct stamps on. They both had to pay £1.50 to receive the letters. One was telling the person they took a payment a day later than normal.
Heres a photo of the letter with the wrong postage and fee slapped on: https://twitter.com/erudioed/status/792410177890811904

Brooker_Dave

You'd think with all those offshore taxfree billions, they'd have the money for a stamp

erudioed

Finally, heres a video of Zach Lewy talking at a non-performing loans forum about his success, european strategy and why its important similar vulture businesses all share information to corner the non-performing loans market. He starts at about 37mins 30 secs and then again at the end
https://www.youtube.com/watch?v=lcdliIp7xOk

I think its been covered before, but Lewy is also director (in a finance capacity) at English National Ballet School. The irony would be if a student there with a student loan ended up being one of his victims in the future. I think anyone could tweet @ENBallet and let them know who is on its board of directors. Maybe it might be as disruptive to Zach Lewy's life as his business has been in ours if quite a few people were to litter its twitter page and raise awareness of the fly in their soup.

GinOClock

Has anyone had any problems regarding their loan account being split into two after changing to Erudio?

I had ten student loans as I changed course a few times when I was at St Andrews. With SLC I got one annual statement etc. When it transferred to Erudio I suddenly had two different loan accounts (each with five loans). This means I get two annual statements with two figures for repayments etc and it is difficult to work out what is going on.

Erudio initially blamed SLC. But after investigation with the FOS adjudicator and SLC this was revealed to be an outright lie. The adjudicator ruled my loan accounts must be merged into one and that Erudio pay £150 for distress and inconvenience. Erudio rejected this and its going to an ombudsman. Erudio said their system only allows a borrower to have 8 loans on their accounts so they can't do it even if they want to.

Tommygunn

Can someone just confirm, if my deferment ranglings go beyond the end date, that I have three months of grace, so to speak, to have any interest accrued in that time period wiped out?
For example if my expiry date is the 14/7/15 then do I have till midnight of the 13th or the 14th of October 2015?

Tom.