ERUDIO student loans help

Brooker_Dave

The_Businessman wrote: »

Hi all. Some advice would be most welcome.

I am currently unemployed. I managed to defer repayment on my student loans with the Student Loan Company from June 15th, 2013 until June 14th, 2014. I received no further correspondence from the S.L.C. since last year's letter confirming my deferment.

Have you had a notice of assignment?

The_Businessman

I have received absolutely nothing, Brooker Dave. I only found out about this payment by chance, when I happened to check my bank balance online yesterday!

GirlGeek

They haven't agreed not to collect payments is what they'll say, they will say they haven't approved your deferment, even if they haven't let you apply yet.
Arguing with the people at the call centre is like arguing with a house full of opposing politicians, they just try to shout louder, literally.
Though anything wrongly applied to your credit file can be removed but at least one agency, Experian, is in cahoots with them.

Brooker_Dave

The_Businessman wrote: »

I have received absolutely nothing, Brooker Dave. I only found out about this payment by chance, when I happened to check my bank balance online yesterday!

You can get the DD refunded straight away under the DD guarantee.

Erudio seem to be very keen on abusing DD payments, there must be some regulator who this can be reported to?

I mean they admitted that they'd taken 500 in "error", how many "errors" need to take place until it's clear an organisation is just acting dishonestly?

Brooker_Dave

GirlGeek wrote: »

Though anything wrongly applied to your credit file can be removed but at least one agency, Experian, is in cahoots with them.

"An oil worker who claimed his credit rating was ruined after a dispute over a laptop won his appeal on Wednesday, after a 16-year legal battle.

Richard Durkin, 44, from Aberdeen, was awarded £8,000 damages after Supreme Court justices ruled that a bank had breached a “duty of care”.

Mr Durkin (pictured below) described the verdict as a “consumer victory”, although he has run up legal bills of about £250,000.

Legal experts said the unanimous judgment in Mr Durkin’s favour could lead thousands of consumers to make similar claims for damages as a result of inaccurate credit references."

"The lesson for lenders is that they are going to have to be much more careful about automatically registering a default without making proper enquiries with the suppliers. Could this be the next PPI time-bomb for the banks? This remains to be seen."

Demand removal and sue.

anna2007

Brooker_Dave wrote: »

"An oil worker who claimed his credit rating was ruined after a dispute over a laptop won his appeal on Wednesday, after a 16-year legal battle.

Richard Durkin, 44, from Aberdeen, was awarded £8,000 damages after Supreme Court justices ruled that a bank had breached a “duty of care”.

Mr Durkin (pictured below) described the verdict as a “consumer victory”, although he has run up legal bills of about £250,000.

Legal experts said the unanimous judgment in Mr Durkin’s favour could lead thousands of consumers to make similar claims for damages as a result of inaccurate credit references."

"The lesson for lenders is that they are going to have to be much more careful about automatically registering a default without making proper enquiries with the suppliers. Could this be the next PPI time-bomb for the banks? This remains to be seen."

Demand removal and sue.

Mr Durkin probably had a well paid job in the oil industry and/or the benefit of legal aid. Most people on here are deferring repayment of their student loans due to income being below the £28k-ish threshold, it's unlikely they would have the funds to sue Erudio.


Using your example vs keeping the DD in place and seeking redress through the ombudsman/small court you would have:


16 years vs around 16 weeks (allowing for the 8 week waiting time to take your complaint to the FOS).


£250,000 upfront costs vs free/cost of a small claim.


If you lose your case (unlikely, but adjudicators/judges have been known to make bad decisions), you owe Erudio the full amount of your loans + legal costs vs you continue to defer as normal with the DD in place (zero risk with the DD guarantee to rely on).


Your credit rating trashed vs your credit rating intact.


I'm with GirlGeek on this one, keeping the DD in place while you make a FOS/small courts claim is by far the most sensible and least risky option.

anna2007

Brooker_Dave wrote: »

You can get the DD refunded straight away under the DD guarantee.

Erudio seem to be very keen on abusing DD payments, there must be some regulator who this can be reported to?

I mean they admitted that they'd taken 500 in "error", how many "errors" need to take place until it's clear an organisation is just acting dishonestly?

You can report it to the FCA and Bacs (see my posts at #810 and 813), might be an idea to provide links to the MSE article about the 500 payments taken in error and the forums to show that errors are still being made?

anna2007

ptolomy wrote: »

@ Anna2007 Thank you so much, that is just what I was looking for. I am now going to be quoting lots of rules at them and spending tomorrow complaining to everyone I can! I did obviously have other plans for my day off tomorrow but there we go, I don't want them getting away with this.

No problem ptolomy, glad if it helps you out


Although it's rubbish that you have to spend your day off making these complaints, remember to include all of it in your complaint to the ombudsman, as it'll support any compensation claim for Erudio wasting your time!

anna2007

Have now received my deferment letter from Erudio, confirming the period of deferment and that it applies to all 3 loan agreements.

There's nothing in there about the DD being a requirement of deferment, which has been stated in other deferment letters... too much to hope that they've backtracked on the DD requirement?

Case

Hi, I have posted here a couple of times over the last couple of months to share my frustrations with Erudio, the main one being that the wanted my wife's bank statements as well as my own (I didn't give them her statements). Finally, last week, I received a letter from them confirming deferment of all four of my loans; it was a battle! Two days later I checked my bank account and, would you believe?, they had taken £131! I rang my bank and told them. They said that they would try and sort it out and if it turned out that Erudio should not have taken it then the amount would be repaid. Today I have checked my bank account and find that the amount has been repaid twice! Is this an administration error? Should I inform them? Should I cancel the DD so that they can't just re-take it? Any ideas anyone?