ERUDIO student loans help

Forever

fabianess wrote: »

Hello, I am new to this forum, so apologies if this has been covered off elsewhere, I have searched around for the answer to my question, even emailed studio, but have not been able to get a firm response.
My question is: savings. In previous years the SLA just wanted to know the interest, that was my understanding.Erudio had a whole section devoted to it. Now I don't have 1000s in savings just few 100 pounds for emergencies, but had to disclose this on the form. I called an erudio operator about this and was told that it was taken into account in the gross income but the SLA never enforced it. I am very confused - have I had this wrong all along? I would appreciate any advise on this as I am already worried about next year's loan deferment as this year's was so stressful.

They can use the interest you gain on your savings as part of your annual income total. The Student Loans Company used to do this too.

fabianess

Thank you for your replies, yes I see that how can it be income if you have saved it from your income! But the forms were very vague and misleading, even to the extent that it appeared to want you to add savings not just the interest to the gross income in the totals section. I wish I had kept a copy of it.
I also had problems with my child benefit, I sent them the award letter but that wasn't good enough even though it was a document they asked for, I had to email three bank statements showing the payments going in, (I sent them 2). I asked why the award letter wasn't good enough and the advisor told me that it didn't show how much I was getting and that I could have 50 kids and be raking it in! I have one child. I was disgusted at the implied dishonesty.
Thanks again. I would like to think they will change their forms but probably won't.

Forever

Now I have some really good news! I've finally received an email from Erudio saying that my deferment has been accepted. At last!

I have no idea if complaining to Erudio, the FOS, the Student Loans Company, and my MP have helped at all (although I am relieved that all of them have at least acknowledged my complaints).

So good news indeed on a sunny Friday afternoon :beer:

Good luck everyone else

Forever

fabianess wrote: »

Thank you for your replies, yes I see that how can it be income if you have saved it from your income! But the forms were very vague and misleading, even to the extent that it appeared to want you to add savings not just the interest to the gross income in the totals section. I wish I had kept a copy of it.
I also had problems with my child benefit, I sent them the award letter but that wasn't good enough even though it was a document they asked for, I had to email three bank statements showing the payments going in, (I sent them 2). I asked why the award letter wasn't good enough and the advisor told me that it didn't show how much I was getting and that I could have 50 kids and be raking it in! I have one child. I was disgusted at the implied dishonesty.
Thanks again. I would like to think they will change their forms but probably won't.

The whole process with Erudio really is a nightmare. I wouldn't wish them on anyone to be honest.

Good luck with the deferral Fabianess

ptolomy

anna2007 wrote: »

@ ptolomy You could contact the FCA and the Credit Services Association for help - both say that collection activity must be put on hold when there's a dispute over the debt and Erudio are supposed to abide by their rules.

Thanks @anna2007 and @Erudioed, I wasn't aware of this so will be adding this to my 2nd complaint that I'm currently writing.
I have had a voicemail to say that they will refund the payment which is a relief, but they haven't apologised for making a mistake, it seems more to be a case of 'we will grudgingly refund this as you've complained' rather than 'I'm terribly sorry, we should never have taken the money in the first place.'
Are there any specific regulations you know that I can quote to them or should I also be reporting them to someone for breaking the DD guarantee and the rules about debt suspension?
They don't seem to have a clue what they're supposed to be doing, if there's anyone else I can complain to at this stage, I'll happily give it a go.

anna2007

ptolomy wrote: »

Thanks @anna2007 and @Erudioed, I wasn't aware of this so will be adding this to my 2nd complaint that I'm currently writing.
I have had a voicemail to say that they will refund the payment which is a relief, but they haven't apologised for making a mistake, it seems more to be a case of 'we will grudgingly refund this as you've complained' rather than 'I'm terribly sorry, we should never have taken the money in the first place.'
Are there any specific regulations you know that I can quote to them or should I also be reporting them to someone for breaking the DD guarantee and the rules about debt suspension?
They don't seem to have a clue what they're supposed to be doing, if there's anyone else I can complain to at this stage, I'll happily give it a go.

As Erudio's customer, they legally owe you a duty of care when deaing with you and your account. You can add their latest failings to your current complaint, and also claim compensation when you take it to the FOS (you don't have to have suffered a financial loss, e.g. overdraft charges when they took the DD payment, you can claim for stress, upset and inconvenience caused by them, and time spent by you trying to resolve their mistakes).


The rules for Erudio ceasing collection activity (make sure you've disputed the payment with Erudio in writing, an email to their Customer Services address will do):


Financial Conduct Authority - See 7.5.3 & 7.14.1 here:

fshandbook.info/FS/html/FCA/CONC/7

Credit Services Association - page 11/26

www.csa-uk.com/media/editor/file/Code_of_practice_final%20110414.pdf

You can contact the FCA at [EMAIL="consumer.queries@fca.org.uk"]consumer.queries@fca.org.uk[/EMAIL], although it does say that if your query is urgent, you should call them on 0800 111 6768.


The CSA won't respond to complaints made by email, you have to complete their complaints form here:


http://www.csaconsumers-uk.com/page/i-have-a-complaint


You can make a complaint to Bacs when Erudio have breached the DD Scheme rules, details here:


http://www.directdebit.co.uk/DirectDebitExplained/Pages/Howtocomplain.aspx

anna2007

@ptolomy You asked what specific regulations you can use in your complaint - if you've shown that your income's below the threshold and Erudio have refused deferment, it's a breach of the Education (Student Loan) Regs 1998, and also the loan agreement - apologies if you knew that already, I wasn't sure if it's that or something more you're looking for

anna2007

erudioed wrote: »

I always though that clause was a good one to fight under but i was dissuaded by another poster because it isnt anything to hang the clothes. But i would sure like to see someone fight that one if they were affected adversely. It will be in my ombudsman complaint at some point i think.

It's good to get other views on your ideas on the forums, but please don't let others dissuade you. You seem to have a great knack for finding information and connections (if you're not an investigative journalist, you're in the wrong job!). I think you should be the one to fight that fight at the FOS, and I'm sure you'll make a good case

anna2007

@ ptolomy, pestering you now! Erudio taking the DD payment is probably a breach of this FCA rule too, see 7.6.1 here:

fshandbook.info/FS/html/FCA/CONC/7/6

GirlGeek

Personal update:
Direct Debit number three taken by Erudio.
Direct Debit number two refunded by bank, first was their 'error'.
Still no contact from them about my deferral, despite having written to them with proof of deferral from them and SLC. At the very least they should have stopped taking payments until my complaint is addressed. I am not going to send multiple types of communication to them just because their admin is poor, up to now as far as I am aware writing a letter to someone is a sufficient form of communication, especially when it's a complaint. *backing away before a full on admin rant*

The bank offered to cancel my direct debit but I made sure I explained the situation regarding defaulting on payments, and that I'm hoping the banks are going to see a pattern and investigate (banks being proactive, too hopeful?).

I know what my plan is for this and that I'm not going to let them brow beat me but every time I have a new problem I get a lot more stressed than I like.:mad: