Student Loan Query -Erudio

classical01

Hi there. I am also having major problems with Erudio, and have done since it was passed over from SLC. With SLC it was plain sailing and never had problems with deferment. Erudio is a different story. First of all I received a letter informing the first loan ( taken out in 1996) the last loan taken out in 1999) had been passed over to them in 2014. I intially did not think anything of this as I presumed they would handle the account exactly like SLC. It is only after I realised that they had changed the terms and conditions, and also asked questions on the derferment form that had not been previously asked. The problem really started when they did not send deferment forms as usual time like SLC- that is when the problems started. In between that time of informing that the account has been passed over and sending deferment forms they insisted that I was now in arrears. After sending letters of complaint and not hearing anything from them for nearly two years I have now received a letter saying I am in arrears of over 3k, without having been given any notification of this and despite not earning the threshold in which to start paying back. I am seriously trying to get some advice on how to deal with Erudio. I have called in the past and they are not helpful so I contacted by mail only. I just need advice on how to proceed from here.

fermi

If you haven't been deferred for 2 years, then you will be in unsubstantial arrears.

Deferment is not an automatic right. You have to apply for it, so just saying you were under the threshold for that time doesn't count unless you actually got deferred.

So you didn't get the forms as usual? Got in arrears because of that - although technically the onus is on you - made a complaint - then just ignored this for 2 years because of no contact?

It's not in doubt that Erudio are damn awful and incompetent, either by their nature, or by design to put people into situations like this where they fail to defer.

You will need to make a complaint - perhaps on the basis that the accrual of arrears were and are not your fault, then take that complaint to the Financial Ombudsman if Erudio do not uphold.

I suspect you have a prospect of no or only partial success with that, since regardless of any initial fault that might be attributable to Erudio, it seems you did not not follow things up and for 2 years neglected the terms of that loan agreement and law which put the onus on you to try to defer and not treat it as an automatic right.

- Complain with you reasons for being treated unfairly
- Tell them you will go to the FOS
- Go to the FOS if Erudio refuse your complaint.