ERUDIO student loans help

Forever

Jonez wrote: »

Have they explained why they are to start taking payments? The fact you are receiving two contradictory sets of information seems to indicate that they are not even working from a single case file?

I only have the one loan.

The letter confirming my deferment is dated 16th of June.
The letter stating they will start to take money out of my account is dated the 18th of June.

And they both give the same customer number!

I don't know if I can use the direct debit guarantee if they dip into my bank account either, because they have given me notice of payment!

I am so angry!

samtheman_2

My loan has been sold on. I'm however for the first time ever in a position where I'm due to begin paying back. Has anyone had any luck getting a lower full and final settlement fee?

I tried over the phone and they weren't having it - 50% to get them off my back would seem a good deal.

rizla_king

Forever wrote: »

I don't know if I can use the direct debit guarantee if they dip into my bank account either, because they have given me notice of payment!

Just tell the bank that payment should not have been taken as you are deferred. You don't have to justify it or prove anything to the bank. They have to refund if you tell them to.

Forever

rizla_king wrote: »

Just tell the bank that payment should not have been taken as you are deferred. You don't have to justify it or prove anything to the bank. They have to refund if you tell them to.

Thanks for the reassurance Rizla King

I guess I just need to keep an eye on my bank account - which is what I was going to do anyway!

erudioed

samtheman wrote: »

My loan has been sold on. I'm however for the first time ever in a position where I'm due to begin paying back. Has anyone had any luck getting a lower full and final settlement fee?

I tried over the phone and they weren't having it - 50% to get them off my back would seem a good deal.

hey told me if i offered £1 below the full fee they would not be able to settle with me now. They said if it changed they would mail everyone and tell us. My anger levels say f**k them, because they will start to settle short when they realise they probably wont get anything because of low income and 25 years approaching fast. Anyone who settles for less than the 5p in the £ (or 17%, i dont know which) they got all the loans for would be a little crazy, unless of course you just want to get them off your back. BIS didnt expect them to get anything from deferers, which is one of the reasons they said they sold it for such a low fee.

samtheman_2

erudioed wrote: »

hey told me if i offered £1 below the full fee they would not be able to settle with me now. They said if it changed they would mail everyone and tell us. My anger levels say f**k them, because they will start to settle short when they realise they probably wont get anything because of low income and 25 years approaching fast. Anyone who settles for less than the 5p in the £ (or 17%, i dont know which) they got all the loans for would be a little crazy, unless of course you just want to get them off your back. BIS didnt expect them to get anything from deferers, which is one of the reasons they said they sold it for such a low fee.

I was going to offer 50% - a quick profit for them - just to get them out of my life as they do not seem very nice/reputable/they look like they are going to damage my credit file.

I can't as many guarantee I'll be able to pay next year - this is the first time I've been over the limit since graduating in 2001. So 50% seems like a decent deal. It'll take 8 years for me to pay based on minimum payments - its a chance they take.

It looks like Erudio may muck this up though. If they start marking credit files I'd imagine it may end up like the PPI scandal - I'd expect my 50% may be generous then.

Jonez

I've been wondering how long it will take them to start offering to sell the loans to borrowers. They must surely have realised prior to purchase that they would not be able to treat deferred loans in the same way as the defaulted debt that their parent company specialises in? So the only way to make a profit on many of the loans is to offer to sell them at an attractive price?

Sarebear78

I see there has been a reply to the FOI request here:

https://www.whatdotheyknow.com/request/215581/response/532845/attach/4/image2014%2006%2024%20133728.pdf

Does that mean that if different people ask for different elements of this then they each would get one of the bullet points and could add it together for a full picture? (Hope that makes sense!)

erudioed

Terrible reply, no info given by BIS...but its clear they do have the info and are probably trying to keep it secret/make it difficult to find the key pieces. Thus we need to make it not a secret. We need volunteers to ask specific points from the Freedom of Information request so that we get the whole info on bits and pieces, which to BISs credit, they do suggest as well. Any volunteers?
We could get some real answers i think to many of the things that dont make much sense right now and we will probably always be guessing about if we dont try and get this info now.

Tommygunn

Firstly, I would like to say a big thank you to Anna2007. Your help was invaluable.

Excellent news today, I'm still cautious, and that is I've been deferred.

What happened?
The end date for my deferment was due on the 14th July and I emailed my documents to Erudio on the 17th June. Yesterday, I emailed them to ask for an update, taking other peoples experience into account, and this morning I have received an email saying that my 'deferment application has been accepted'.

With the help of Anna2007, I sent in nine pdf pages. This is what I did.

Erudio doc page 1:
DOB: Yes
NI no.: Blank
Address: Confirmed - everything else blank
Other contacts: Landline and alternate email.
Everything else blank.

Erudio doc page 2:
Current Account: Yes
Direct Debit: Completed in full

Erudio doc page 3 to 5:
Filled out as per circumstances

Erudio doc page 5 to 6 T&C's:
Everything erased in MS paint with 'See Page 7' superimposed.

My docs page 7 & 9:
These consist of the two letters doing the rounds which I slightly modified, see attachments below. Sorry I can't say thanks directly, as I've forgotten who did them, but thank you all the same.

My doc page 8:
A letter from my wife declaring that she is the sole earner and supporting me to no more than £2398 per month and that I don't actually get any physically payments.

That's it, nothing else.

So, apparently my deferment is confirmed but I will be keeping a close eye on things and I'll be waiting for my confirmation letter which they say is in the post.

Thanks again.


p.s. a DD has been setup on my current account so, as mentioned, I will be keeping a watchful eye and if anything happens I will be merciless.