MSE News: Erudio concludes investigation into paperwork issue: What it means for you

in Loans
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Tens of thousands of Erudio customers will begin to have interest applied to their loans after it was frozen last year...
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Erudio concludes investigation into paperwork blunders: What it means for you


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  • Thanks for the additional information - am I the only one who is still a little confused though :D

    I can't see a section for those of us who were never in arrears at all with the SLC. The only time I've ever been in arrears & received a NOSIA was Oct 14 as Erudio had been unable to send me the application form to apply for deferment from July 2014 when my last period of deferment ended, for several months. Those arrears have now been wiped as it was their fault my account ever went into arrears.

    Regarding any historical arrears under the SLC - I didn't receive anything from them to say I was in arrears (since I wasn't) & didn't receive anything from Erudio about historical arrears either, no NOSIA for March 2014 onwards, no CCA remediation pack, nothing.

    Can someone explain why Erudio have messed about with my interest charged from Mar 2014 when I was never in arrears - have they done this to every single customer? I don't see why they needed to do anything to my account except continue to add interest.

    My list of transactions show no interest was added in Mar, Apr, May, Jun or Jul 14, then almost 3 x the usual monthly charge was added in Aug 14 (last figure I have about my loan balance). What do others see on their statements?

    How would we now know if Erudio have got the interest calculations correct & how are we ever going to be able to follow their calculations - are we just going to believe they've go it right when they present a figure & repayment schedule?

    (For others new to dealing with Erudio there is a long running thread here which is interesting reading, but pour a stiff drink/strong coffee before you start :))
    And I find that looking back at you gives a better view, a better view...
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