ERUDIO student loans help

Lungboy

Erudio Student Loans Ltd
PO Box 1055
Camberley
GU15 9PA

That's the generic postal address off their website. I'd guess deferment stuff would get to the correct place if you send it there.

Lungboy

I've now had another letter from Erudio, also pointing out that I haven't deferred yet and also suggesting I try the portal.

Simple_student

I have just agreed a very satisfactory settlement of my loan but although they accept it as" full and final" they say they will list it in my credit file as "partially settled" ....is this legit does anybody know?
Simple student

sultanabran

Simple_student wrote: »

I have just agreed a very satisfactory settlement of my loan but although they accept it as" full and final" they say they will list it in my credit file as "partially settled" ....is this legit does anybody know?
Simple student

Yes, because it's factually correct. You're not paying the full amount due but they are accepting a partial settlement.

Simple_student

Is it really factually correct to say that "full and final" actually means "partial" ? 303 pages of posts mostly complaining about student loan duplicity probably means that in the world of Erudio it does.

Lungboy

Yes, that is how a partial payment, even if accepted as full settlement, is recorded by the CRAs. That's not up to Erudio. I think you're the first person to report having any kind of settlement with them, I'm guessing you're not allowed to say what the figures involved are?

Simple_student

put it this way .. If you offer to settle around 50 % you are likely to have it accepted depending on circumstances incidentally I have never considered my loan as a debt as I have always been eligible to defer but student loans drive you into default at the drop of a hat. This was never meant to be!

erudioed

Everyone has to make the best decision for them (as each situation is different) but Erudio wins with that argument. Not only that, to anyone considering giving you a loan after referring to a CRA (if that is a worry), on face value, it looks like you may not be trustworthy enough to pay back the full amount, hence, a risk. All Erudio's tricks and bullshjttery would have paid off big time if we all settled early, or gave them anything, if we are legally entitled to defer.
That said, if it were a small amount, i can fully understand getting these scumbags out of your life for the next X to 8 or so years.

Simple_student

I am paying back far less than the original loan ...that's a win for me . they are getting back far more than they paid the government for my loan ...regrettably that's a win for them.
The flag on my credit accounts is a bitter pill but maybe it will mean no more loans no additional rent or mortgage to pay and no useless mobile phone deals.

Brooker_Dave

Simple_student wrote: »

I am paying back far less than the original loan ...that's a win for me . they are getting back far more than they paid the government for my loan ...regrettably that's a win for them.
The flag on my credit accounts is a bitter pill but maybe it will mean no more loans no additional rent or mortgage to pay and no useless mobile phone deals.

But if you are eligible to defer, and end up bunging them, and worse still have your credit file marked, what have you achieved?

May as well ride it out until they are written off.