Erudio Student Loan, Advice Please

ACL7

I sent off my three payslips as always in order to defer but this new company has sent me a letter today saying I have not provided them with enough info to process the application. I have never had a problem in the past but I noticed that the generic letter [ it did not personally say what I had omitted] mentioned the need for a P60 which I don't have. I actually rang Erudio prior to sending off my payslips to tell them I didn't have a P60 and the operator told me it wasn't a problem. Do I need one. I do occasionally do overtime, if they demand a p60 and decide to reject my deferment on the basis of overtime income on my last annual P60 I could have to move out of my flat as I owe £1000 now on the old mortgage style loan system of 1997. How much could they sting me for each month? Any advice would be greatly appreciated.

rizla_king

No. You do not need a P60. They are just trying to be awkward. The same evidence SLC always accepted is good enough. If Erudio try to refuse you deferral on that then tell them you will take them to the FOS and report them to the FCA.

rizla_king

See these threads

https://forums.moneysavingexpert.com/discussion/4923210

http://www.mumsnet.com/Talk/legal_money_matters/2028211-erudio-student-loans

Avoid the threads on CAG as they are full of people talking complete crap on this.

ACL7

Thanks. Just one last thing. I always send off original copies of my pay slips. Now I know this isn't recommended but in 10 years of the SLC I have never had problems and they have always been returned. If it turns out Erudio have lost them then can I ask my company to re produce them. I work for the NHS. Cheers

rizla_king

I imagine they could. If they can't a letter from your HR department confirming income for the relevant months would also be acceptable proof.

ACL7

Thanks for your advice. This company really got me worried. Everything about them seems aggressive in comparison with the SLC. If they do force me to begin paying off my 4 loans totalling now at 10 grand I do wonder how much they will take per month and if they will take personal circumstances into account.

ACL7

Just to update for anybody reading, the new deferment criteria including the need for a p60 is mandatory according to Erudio. Deferments will not and cannot be processed without them. In other words the government have done us over selling our loans to this private company. We are stuffed. I was told if I block DDs from my account my loan repayments fall into arrears and my credit rating which up until now has been exemplary will be affected. Thanks Cameron you can stick your privatisation up your !!!!. I never signed an agreement for this.

budd1405

Hi all,

I have been reading various threads on this over the last 24hrs after this deferment package landed on my door last week. I'm contemplating not filling in the form but sending in a letter along with payslips thus complying with what I have had to do every single years this has come up. I didn't accept a loan for it to end up with a debt collection agency and had I'd known it would be I would have never taken it out. I just wonder if anyone who has gone down the letter route has received any sort of response so far?

rizla_king

ACL7 wrote: »

Just to update for anybody reading, the new deferment criteria including the need for a p60 is mandatory according to Erudio. Deferments will not and cannot be processed without them.

And you believe the lies of a debt collector? If you believe their lies and lie down and let them "do you over" then that will be entirely your own fault.

ACL7

rizla_king wrote: »

And you believe the lies of a debt collector? If you believe their lies and lie down and let them "do you over" then that will be entirely your own fault.

I agree with you and infact whilst on the phone was thinking about your advice. I won't lie down. They won't be getting any money from me. They do have my DD details as I stupidly gave them in the new form but will go to my bank today and request any DD attempt from Erudio be blocked.

ACL7

budd1405 wrote: »

Hi all,

I have been reading various threads on this over the last 24hrs after this deferment package landed on my door last week. I'm contemplating not filling in the form but sending in a letter along with payslips thus complying with what I have had to do every single years this has come up. I didn't accept a loan for it to end up with a debt collection agency and had I'd known it would be I would have never taken it out. I just wonder if anyone who has gone down the letter route has received any sort of response so far?

Well I did what I always did with the SLC and my deferment was rejected on the grounds that they want a P60. I would imagine yours would be too but it is worth a try. As I said in a previous post I am now going to fight and will block Erudio with my bank, rizla kings advice is good.