ERUDIO student loans help

Rosskie

Ryansson - I'm the same, put in a requests for the original agreements about 10 week ago, got a very short letter acknowledging the request about 3 weeks ago. I wrote to remind them about the credit agreements and lodged an formal complaint, about 7 weeks ago. No response. I've written a letter for deferral with bank statements (which I probably didn't have to do since they have not met their obligations under the consumer credit act, so the account should be on hold) and my deadline passed a few day ago. I have no DD setup, and did not provide details. Still not heard anything about a default / arrears / approved or declined deferral. I'm happy to wait. I think their failure to provide the credit agreements is a pretty big deal, and it will of been 8 weeks since my formal complain was ignored shortly, so the FOS will get the details and be able to step in. I'm not concerned about the scenario I'm in with them as I've fulfilled my part of the deal, simple as.

Jelaw - I understand why your worried about the write off, but nowhere does it say a DD must be in place to defer, however a more cautious approach is obviously what you prefer, and certainly wont hurt. However, you've got written statement from them saying a DD IS setup - its not your fault if you were mislead, and should it ever become a problem (doubt it personally) you've got that letter saying all is well. I wouldn't worry if I were you, but as you'll see above, my attitude is more laid back!

Sarebear78

JeLaw wrote: »

But....I've checked my bank account online and there doesn't appear to be a direct debit.!

Just to let you know that some banks don't show a direct debit online unless the first payment has been made - mine doesn't. I phoned telephone banking and they cofirmed there was one on the account but I couldn't see it. I would check at the bank or via telephone banking before you worry any more.

ripozzy

edit - got my letter of confirmation of deferral now. no probs as far as I can tell.

anna2007

@ Ryansson and Rosskie - once the 12 working days for Erudio to provide the copy loan agreements has passed, you can report it to the FCA - as the regulator, they're responsible for enforcing compliance with the legislation. Although Erudio's non-compliance is no longer a criminal offence, the OFT guidance on S77-79 of the CCA states:


"Finally, while non-compliance with an information request is no longer a criminal offence under the Consumer Credit Act,32 non-compliance with an information request remains a 'domestic infringement' under the
Enterprise Act 2002, and enforcement proceedings could be issued under that Act33 if considered appropriate to do so taking account of the conduct of the creditor or owner".


See page 29, 5.11, of the OFT guidance here:


http://www.oft.gov.uk/shared_oft/business_leaflets/consumer_credit/OFT1272.pdf
　


You could email Erudio quoting the above, tell them how many days past the 12 working day deadline it is (attach proof of delivery if you have it), and copy in the FCA ([EMAIL="consumer.queries@fca.org.uk"]consumer.queries@fca.org.uk[/EMAIL]), say you are informing the FCA in case the delay is indicative of more widespread non-compliance... it might just be enough to force Erudio to give you your copy agreements, and also lets the FCA know what Erudio are up to

anna2007

Rosskie wrote: »

Ryansson - I'm the same, put in a requests for the original agreements about 10 week ago, got a very short letter acknowledging the request about 3 weeks ago. I wrote to remind them about the credit agreements and lodged an formal complaint, about 7 weeks ago. No response. I've written a letter for deferral with bank statements (which I probably didn't have to do since they have not met their obligations under the consumer credit act, so the account should be on hold) and my deadline passed a few day ago. I have no DD setup, and did not provide details. Still not heard anything about a default / arrears / approved or declined deferral. I'm happy to wait. I think their failure to provide the credit agreements is a pretty big deal, and it will of been 8 weeks since my formal complain was ignored shortly, so the FOS will get the details and be able to step in. I'm not concerned about the scenario I'm in with them as I've fulfilled my part of the deal, simple as.

Jelaw - I understand why your worried about the write off, but nowhere does it say a DD must be in place to defer, however a more cautious approach is obviously what you prefer, and certainly wont hurt. However, you've got written statement from them saying a DD IS setup - its not your fault if you were mislead, and should it ever become a problem (doubt it personally) you've got that letter saying all is well. I wouldn't worry if I were you, but as you'll see above, my attitude is more laid back!

I don't think the non-compliance means the account is put on hold, only that Erudio can't enforce the agreement through the courts? From what I read in the OFT guidance, Erudio can still chase you for any repayments (they say) are due, and also report arrears to the CRA's, but they can't threaten you with court action, or demand repayment of the whole loan.


Re the DD, it does state at the top of Erudio's DD mandate that a DD is required during a period of deferment (which is Erudio imposing a new term), but if Jelaw hasn't completed the mandate (or completed it but deleted that statement), then he/she hasn't agreed to it. It looks like Erudio are also saying it's a requirement in their deferment acceptance letters, but that can be disputed once deferment's in place.


If Erudio have confirmed in writing that the DD is in place, that should cover Jelaw; it might just be as Sarebear said and it's not showing because no payments have been taken against the DD (yet!).

fermi

anna2007 wrote: »

I don't think the non-compliance means the account is put on hold, only that Erudio can't enforce the agreement through the courts? From what I read in the OFT guidance, Erudio can still chase you for any repayments (they say) are due, and also report arrears to the CRA's, but they can't threaten you with court action, or demand repayment of the whole loan.

Pretty much correct.

http://fshandbook.info/FS/html/FCA/CONC/13/1

JeLaw

Thanks all for the advice regarding direct debits.

Thanks, SareBear78, I didn't realise it might not show online. I'll call my bank to check if there's a direct debit set-up.

I double-checked the letter I received from Erudio. They have written "We are working with SLC to ensure your direct debit remains active, with all future direct debit payments going to us instead of SLC. You do not need to take any action"..... and "There is no need for you to complete a new direct debit instruction, as details of the change will have been supplied to your bank, who may also notify you, independently of this change".

So, I guess that covers me as it's written evidence of them telling me I don't need to do anything. And by taking no action myself this should mean that I'm not agreeing to any change in the terms!

Rosskie, I thought I would take a fairly laid-back approach.... Until I read a few posts on here about people being extra-cautious (and not giving Erudio any possible excuse to try and refuse the write-off at some future stage).... I certainly don't want to use their deferment form and still think I'll use my own (based on the template posted somewhere on this forum, which I saved). But if I do use their form, I intend to cross out sections and only complete what I absolutely have to.

I look forward to updates from you about if and when you receive your original agreement. Their delay is just ridiculous. And what a shame it's no longer a criminal offence....

scousedicko

JKSandy wrote: »

As there is a debt collection agency behind this company I have no doubt they will try and get people to pay as much and as soon as they can.

In this case, can a debt being chased by a DRA be included in a Debt Relief Order, I wonder?
So far Student loans are one of the few debts excluded from eligibility for inclusion in a DRO. I am handling this matter for my son who has Phobic Anxiety Syndrome and Schizophrenia and is on ISA on grounds of incapacity.
Erudio aren't responding to my telling them his loans are deferred for one more year out of three, despite three chasing-up phone calls, and for me to be patient and polite right now is very testing. I might just be rude!

anna2007

JeLaw wrote: »

.... I certainly don't want to use their deferment form and still think I'll use my own (based on the template posted somewhere on this forum, which I saved). But if I do use their form, I intend to cross out sections and only complete what I absolutely have to.

Erudio are insisting that deferment won't be granted without a signed deferment form, so if you use the template letter, you may well have a long, drawn out fight to get your loans deferred, and in the meantime Erudio could start taking repayments.


You said that your current deferment period is up in September - Erudio stated (in the MSE article I think) that they are in the process of redesigning the deferment form - IF they get it right, hopefully you won't have to deal with these issues by the time you have to apply for deferment.

rizla_king

Goes without saying that unless forced by the FOS or similar Erudio are never going to voluntarily admit the truth that you don't have to use their form.

It would be an embarrassment and climbdown too far for them to admit that unless they have no choice.