ERUDIO student loans help

erudioed

GinOClock wrote: »

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?

According to the gumpf in the new DAF pack, and i dont know if it has changed from last year, but they state they will be reporting pre-98 ones to CRAs every month. I am assuming they havent carried that out but i dont know, especially now Crapquest have taken over. The usual lack of consistency in what erudio state across their different platforms should be of interest to one of the regulatory bodies but i dont know which one. Erudio claims they have 'permission', suggesting someone had given them the OK. But i think we all know it is their choice to do it.
It also states they will search CRAs when we apply to defer, without any maybe's or might's.

Just an aside. The DAF pack has about 15 sheets of stuff in it, so the cost of that will definitely be adding up if people make sure to request it, or a back up if the one that should have arrived 8wks before doesnt arrive. I know thats not the main reason for the portal, but that portal will be cutting some of these postal costs.

Lungboy

erudioed wrote: »

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.

I haven't complained to Erudio yet so I have to do that first don't I? I can't remember the correct procedure.

erudioed

Yep, make an official complaint with Erudio, then wait for the dismissive reply. Then you can file a complaint with FOS. Erudio do reply quite quickly though to a complaint to their credit.

Pluthero

GinOClock wrote: »

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?

No reports of ANY defferred loans placed on CRA's.

WHY ?

Erudio know it would change the original terms and conditions and they would be in deep !!!!..

A deferment is NOT a Payment holiday.

From their website:

07/09/2016
CRA Default Listing

From the beginning of September 2016, Erudio Student Loans will be writing to all customers whose accounts have defaulted to inform them that credit reference agencies (‘CRAs’) will be notified of the default in due course. These notifications are made in accordance with the terms of the loan and follow standard industry practice for responsible lenders.
This letter follows previous correspondence and attempted phone calls from Erudio to the customer now in default, over a period of many months, designed to inform them of their loan status and to work with them to try and find a repayment solution.
The default will be reported to CRAs after four weeks from the date of the letter. Accounts in deferment will not be notified to CRAs, only defaulted accounts, i.e. accounts where the full loan amount is now due and deferment is no longer available.

Ain't seen a DAF so do not know if they still carry the hollow CRA threats which this notice would seem to contradict.

HTH

Lungboy

Does anyone have a link to the FOS or BIS (i can't remember which) statement about the 8 week minimum window for the deferment packs?

anna2007

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?

Received a letter today too Lungboy, they have the cheek to open with "You haven't yet applied for your deferment, but remember that you can now do it online". Try sending the paper DAF pack first fcuk-wits, after telling you I didn't want an online deferment.

Arrow Global, disguised as Erudio, goes on to say they realise deferment is so "complex", clearly way beyond your average graduate's understanding (despite graduates managing just fine under SLC for 20+ years) , but they're on standby to offer "any support" or if we would "simply like to talk it through with someone". What's with the sympathy tone? I want to apply for deferment, under the terms I agreed with my Government of the time- Hello!! Arrow Global! Stop pretending you have any say or sway over that.

anna2007

Arrow Global's accounts confirm that they were taking over the bad debts in the student loans portfolio, seems reasonable.

Reading the FOS decisions, every time a deferred borrower finds themselvws in arrears (often fabricated by 'Erudio' and ordered to be removed by FOS), Arrow Global passes it to another DCA. It looks like Arrow Global are happy to take on the genuime bad debt, but want to distance themselves from genuine deferrers.

Why would Arrow Global, a global DCA, outsource DCA business to another DCA? Damage limitation to reputation? A legal problem with a DCA buying public debt and applying DCA tactics to loans that are about to be cancelled under the original terms? What a rotten deal our 18yo selves signed up to!

Former_MSE_Faye

Good afternoon,

I'm an MSE news reporter, investigating a number of reports that Erudio customers haven't received their deferral forms through the post as they expected, and have instead been told at late notice to defer online.

I'm in contact with Erudio, which has promised to look into the claims and asked me to pass on details of people affected by this problem so they can determine whether deferral packs have been sent out.

If you've experienced this problem, please drop me an email to faye.lipson@moneysavingexpert.com.

Many thanks,
MSE Faye

erudioed

One (of many) question i would like to see Erudio asked is this:

If you have opened up the new online portal, and you are now allowing people to defer 12wks before their deferment deadline, why are you not printing out and sending out the DAF packs 12wks before?

plong979

Can some one post the current Erudio deferment address please. Just want to make sure the one I've got is correct as I know they changed PO BOX a year or 2 ago.