ERUDIO student loans help

Dayzydook

Thanks lungboy, SLC sent letters saying that they have deferred Erudio and thesis loans, but Erudio are saying they will not accept deferment as the loan has matured?? Erudio are saying that they are requesting a history of deferments from SLC and that they can call in the loan as deferment was missed??

Lungboy

The loans maturing thing is a made up term that they seem to use when people are so far in arrears that they want the full loan repaid. Could that be the case?

Gmarshark

Morning all. I am new here as a member but have been reading for months. I have a SL from 1997 and on from 1998. Both the minimum amount at the time total around 4.5k. I have deferred for years and still am. Erudio have both loans now!!!129297;

They Royaly mess me around.... been through their complaints procedures!!!129313; And via ombudsman but no sensible outcome. Will post more detail when I have my junk together.

Erudio have intentionally forced me into arrears due to not following regulations set out by SLC around deferment, this happened in 2015 and I have challenged since with no success. I believe they did it to prevent me from having the loan cancled when reaching 50.

The ombudsman gave me a we cannot help you as you have fallen foul of our rules, awaiting the letter.
Much wanted help for me and all !!!128580;

Ed-1

https://www.slc.co.uk/media/latest-news/changes-to-interest-rates-and-thresholds.aspx

Deferment threshold £30,737 from 1st September.

ftbwannabe

Did anyone else have an odd letter from Erudio this yea, reducing their payments?
I got a letter saying my normal payment of 85ish would now be 25ish because of an error on their part. When I rang they said auditors had found errors in how several accounts had been managed, that I'd been charged interest wrong, & as a result they were reducing my payments for the rest of the year & would recalculate my overall amount owed in September 2018.
Sounded weird to me, especially since I also have loans managed by Honours Student Loans which have always had payments of roughly the same amount as Erudio, & HSL haven't made any adjustments. I thought I'd wait & see what September brought. Since then I've had letters & texts offering me settlement figures (really crap ones, like £100 less than i'll eventually pay, anyway), which I've ignored.

I'm curious if anyone else here was contacted this year with reduced payments, too, and also curious to hear what erudio will say when I ring in Sept & ask about this mythical recalculation they promised me...

LuckyLuke79

I took out SLC loans 97, 98, 99 and then one in 2001, 2002. I used to defer and they accepted as I have never - and still are below the threshold.
When it passed to Erudio I did the same but missed 2 years and now have arrears of £5400.
I have still deferred since then but when I asked for the forms for this year I got a letter saying my Loan has matured and they want it all paid back: I’m earning £27k so am reluctant to pay.
In the mean time money has been taken from my monthly payslip detailing Student Loans. When I rang them they said speak to Erudio there was nothing they could do - but were happy to keep taking monthly payments from me🤣. To be honest I don’t mind this as I have had the loans in the first place. But Erudio are a nightmare .
I think the whole matter is a convoluted mess and if Erudio want paying they can have an income and expenditure form saying they get paid £5 a month..:mad:

Lungboy

Your loans look like they would be under 2 different rules. The first loan is the one Erudio will have bought, but the second loans are plan 1 and haven't been sold off yet so should still be dealt with by the SLC, hence the monthly pay deduction.

checkonetwo

If anyone can help? Erudio have stated that (after speaking with SLC) there is a gap in my deferment of 18 months in 2002 to 2003. My loans are from 96,97,98.

They are using this to reduce my 60 months to 42 and hence pushing up my contractual repayments.

I have always deferred when I've had the paperwork and can't remember any gaps, but will have nowt in the form of documented evidence.

Do I have any options to get the repayment term back to 60? I will start repaying in November.

Thanks in advance.

fermi

Not sure about that, but if you are technically in arrears because contractual payments were missed of that length, they would be entitled to call in the loan in full immediately. So in some respects what they are saying is a less harsh alternative.

Maybe SAR the SLC for payment/deferment records from circa 2002/3?

CakeCrusader

LuckyLuke79 wrote: »

I took out SLC loans 97, 98, 99 and then one in 2001, 2002. I used to defer and they accepted as I have never - and still are below the threshold.
When it passed to Erudio I did the same but missed 2 years and now have arrears of £5400.
I have still deferred since then but when I asked for the forms for this year I got a letter saying my Loan has matured and they want it all paid back: I’m earning £27k so am reluctant to pay.
In the mean time money has been taken from my monthly payslip detailing Student Loans. When I rang them they said speak to Erudio there was nothing they could do - but were happy to keep taking monthly payments from me🤣. To be honest I don’t mind this as I have had the loans in the first place. But Erudio are a nightmare .
I think the whole matter is a convoluted mess and if Erudio want paying they can have an income and expenditure form saying they get paid £5 a month..:mad:

The cash they are taking out of your wages for your Student Loan is for the 2001 and 2002 loans, which are Plan 1. Mine were sold off, but my student loan payments are still going to the Student Loan Company, and they are sending me yearly statements. If you log into your account online you'll be able to see how much you've paid off. HMRC take these out of your wages, you don't do anything, you're only paying this!!



Your loans from 1997-1999 are now with Erudio, and you have to make separate arrangements for these. These are old mortgage type loans, and will be written off 25 years after your last loan (which was 1999).