ERUDIO student loans help

erudioed

There are actually some of the answers you are looking for posted if you search back. With these Erudio scumbags, the onus has always been on us to make sure we fight to defer. If we dont defer then the loan can become payable in full and wont be cancelled after the 25 years/50 years old mark.
I dont know what will happen, but you will need to contact erudio and lodge an official complaint that they never contacted you, then wait for their answer. You will then need to go to the ombudsman and hope they judge you will defer from this point on. That is the reality.
These pages are for people mainly trying to defer and having problems with it, with it being difficult to be 100% certain about any of those things you ask. It is all trial and error.

GinOClock

You should be OK. Inheritance won't count unless it is received in the 'relevant month', ie the month before you apply for deferment. That was previous advice from the SLC.

GinOClock

That's still fine. You can apply next month, answering the questions honestly. Deferments can be backdated for up to three months once they are accepted, so you would be covered. Don't worry about it.

CakeCrusader

Pre 1998 loans (loans taken out before 1998) are the old mortgage type loans, and they are statute barred (it means they can't take you to court) providing you haven't made a payment or acknowledged the debt in writing within the past 6 years (this also includes defer, so please don't fill it in if you haven't deferred within the past 6 years as it starts the clock all over again. If you have deferred within the past 6 years, it's best to defer again as your loan won't be statute barred). There's info here; https://www.nationaldebtline.org/EW/factsheets/Pages/time-limits-for-recovering-debts/statute-barred-debt.aspx

Personally, I'd wait until they contact you. You don't need to do their leg work for them.

anna2007

Beano1978 wrote: »

Brilliant,thank you so much. I've just realised that i actually received the money in March and we are now in April, so I can fill it in now. I'd totally missed that bit on the form.

The 'relevant month' for income is the month before you apply for deferment, so if you send your DAF in this month, it will have to include the inheritance received in March.

If you want to avoid declaring the inheritance, you should do as GinOClock suggested and delay applying until May, then your relevant month is April and you don't have to tell them about the money in March.

It's also a good idea to be careful about how much info you give out on here, as it's likely Arrow Global still monitor the thread (and even join in as newbies sometimes!), e.g. your username gives a clue, start date of your loans, the fact you have earnings, month you're applying for deferment. While you're doing nothing wrong by delaying your application for a month, Arrow Global/Erudio won't see it that way and they're not too dim to join the dots, they'll be thinking of lots of devious ways to get their grubby mitts on your inheritance - that's just what they do.

anna2007

randomfandom wrote: »

When is the loan cancellation date calculated from? Is it from the year you took out your first loan or the year of graduation? Or some other time?

This letter from BIS confirms when the loan cancellation period begins:

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.

anna2007

randomfandom wrote: »

I've skimmed the last few pages of this thread, but can't see anything specific, so what are the issues with using the portal? Does using it actually change the Terms and Conditions of the original loan agreement?

As buyers of the student loan debt, Erudio/Arrow Global can't change the original t&c's, but that doesn't stop them threatening it, or implying that they have the right to. Insisting that borrowers use a DAF that implies a change to terms/data processing ensures some borrowers (who previously went along with SLC's deferment procedure without issue for many years) refuse to use Erudio's DAF, and creates deferment issues for most borrowers.

If you object to any of the t&c's/data processing terms on the paper DAF, it's a bad idea to use Erudio's online portal, as you'd be agreeing to the same terms via the website. The terms & conditions on Erudio's website set out what you're agreeing to by using their site, including the online portal, e.g.

By using our site, you agree to the terms and consent to us processing information about you in accordance with the Privacy Policy and Cookies Policy.

From their 'Privacy Policy':

By continuing to use our site and by submitting information to us, you consent to the use of that information as described in this Privacy Policy.

Please note that where you hold a student loan with us, the terms of that loan and the terms set out or referred to in any deferment form or other form that we may ask you to complete may include additional terms relating to the processing of personal information relating to them. Those terms will continue to apply to the information you submit using those forms or relating to your student loan in addition to the terms set out in this Privacy Policy.

And

When providing you with services through the site or dealing with requests or instructions given by you through the site (including requests or instructions relating to loans), we may also need to obtain information about you from credit reference agencies or other sources of information. You authorise us to do this to the extent that we reasonably need to do so to provide these services or deal with your request or instructions.

And

We may also disclose your personal information to the following third parties in the following circumstances:
...to credit reference agencies (CRAs) where your account was opened before 1998 in accordance with the terms and conditions of the loan. Where your account was opened in or after 1998 then we may pass details of your loan to CRAs where (i) your account is in or has been in arrears with Erudio Student Loans or (ii) your account is in default or (iii) you have agreed that we may do this. Where your account is in deferral it will be treated in the same way as any other form of loan, which is in a payment holiday and will not be treated as a default; and
to third parties as necessary to verify your identity and the accuracy of the information that you provide to us.

My 8 week deferment window opens in the next week - I received my first ever phone call from Erudio a few weeks ago, saying I could apply early via their online portal, she could email a link. Apart from the fact that I have no interest in signing up to their online t&c's/privacy policy, I wouldn't be surprised if Erudio then rushed through the application, agreeing to it more than 2 months before the deferment end date, which would mean it doesn't comply with the 1998 Loan Regulations. Just looks like yet another desperate DCA tactic to me, so I politely declined their offer to defer early via the online portal

Lungboy

I've had a letter from them saying that I haven't used the portal and asking if there's anything they can do to help. Maybe provide me with a deferment pack at least 8 weeks before my deferment date as per the terms of my loan? Is it worth an FOS complaint straight off the bat?

GinOClock

Has anyone with the pre-1998 loans thought of emailing Erudio to see if they have finally dropped plans to report deferred loans to CRAs?

erudioed

Lungboy wrote: »

I've had a letter from them saying that I haven't used the portal and asking if there's anything they can do to help. Maybe provide me with a deferment pack at least 8 weeks before my deferment date as per the terms of my loan? Is it worth an FOS complaint straight off the bat?

I would say so. I here Erudio's complaint replies are becoming even more dismissive, so i think FOS would be interested in that as well.