We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Mortgage-style loan query

I have 3 old mortgage-style loans. Two are with Erudio and 1 with Honours. I've had repeated issues over the years including two upheld formal complaints against them so my confidence in these companies is less than zero. I was told by Erudio last year that all my loans would expire on 7th October 2025. I have been in deferment for years but this was due to end on the 9th October 2025 with repayments due to start on 10th October.

I rang Erudio again a couple of weeks ago to double check all was well and there would be no last minute shenanigans and they confirmed again that "the loans would expire on 7th October 2025 and that there was no arrears on the account" (BTW tried to also call Honours to check with them and just kept getting a recorded message saying the number was disconnected!).

As a precaution due to the tight window between expiry and first payment, I cancelled the direct debits. Today (10th October) I received a letter through the post from Honours demanding I reinstate the direct debit and at the same time notification from my bank that Erudio have reinstated the cancelled direct debit without my permission. 

For info, all correspondence regarding deferment has been with the Student Loan Company but they won't speak to me on the phone, just keep referring me back to Erudio and Honours.

Do I need to worry or just sit tight? I was told by Erudio I would automatically receive a letter of confirmation "some time after the 7th" but until that arrives I have nothing in writing. 
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352K Banking & Borrowing
  • 253.5K Reduce Debt & Boost Income
  • 454.2K Spending & Discounts
  • 245K Work, Benefits & Business
  • 600.6K Mortgages, Homes & Bills
  • 177.4K Life & Family
  • 258.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.