ERUDIO student loans help

in Credit File & Ratings
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  • It's the latest in a string of problems borrowers have faced since Erudio bought the mortgage-style loans book
    Read the full story:

    Erudio Student Loans: Graduates have money taken from accounts despite deferring

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  • JeLawJeLaw Forumite
    172 Posts
    "An Erudio spokesman says: "It has always been the case that an active direct debit is required to be in place under the terms of these loans and it is customary for direct debit instructions to be unspecified in exact amounts. This is the same as was undertaken by the SLC and is the same as direct debits taken in the credit card, mobile phone, and utility industries."

    Is this right? I'm sure some on this forum have said the direct debit only needs to be active if the loan is not in deferral.

    I actually never cancelled my direct debit mandate. My bank account hasn't changed since the time I took out my loans. But I checked with my bank and I don't have any active direct debits at present.

    After reading of Erudio taking money despite loans being in deferral, I really don't want to set a direct debit up. My loans are deferred until September - and unless I suddenly receive a large pay rise, I'll be deferring again.

    I'm also still not sure whether there's anything I can do to stop my information being passed to a CRA. I have one 1997 loan.
  • RosskieRosskie Forumite
    48 Posts
    Sixth Anniversary 10 Posts Combo Breaker
    1997 loan then they can pass on your info under the terms of your agreement, and wont need any further signatures, so no, you cant stop that.

    Cant speak for 97 loans on the DD point but the terms of 98 on do not require a direct debit to be in place to defer, and I would challenge Erudio to show otherwise. If your not eligible to defer then they can insist on direct debit payments if they so wish, but have the option to accept other means.
  • JeLawJeLaw Forumite
    172 Posts
    Rosskie wrote: »
    1997 loan then they can pass on your info under the terms of your agreement, and wont need any further signatures, so no, you cant stop that.

    Cant speak for 97 loans on the DD point but the terms of 98 on do not require a direct debit to be in place to defer, and I would challenge Erudio to show otherwise. If your not eligible to defer then they can insist on direct debit payments if they so wish, but have the option to accept other means.

    Thanks.

    I'm not happy to say the least but don't suppose there's anything I can do. Although I plan to write to Erudio anyway to request they don't pass my info on to a CRA. I might as well try.

    I have one 97 loan and one post-98 loan. I think I'm going to leave things as they are for now. I'm not going to set-up a direct debit and will challenge Erudio if they demand one. I'm currently deferred and unless I receive a large pay-rise (unlikely) I'll still be eligible to defer at the end of my current deferment period.
  • DeadbeatDeadbeat Forumite
    133 Posts
    Debt-free and Proud! Mortgage-free Glee!
    I've already paid mine off.

    But this latest news make me less confident that the demands for payment will cease.
  • rizla_kingrizla_king Forumite
    2.9K Posts
    ✭✭✭✭
    See below.
    rizla_king wrote: »
    Direct Debit Mandates.

    If you analyse the agreement terms, having a direct debit mandate is NOT a requirement for deferment and they should not be able to refuse you deferment if you dont. Apart from being over the income threshold, the only reason they can refuse deferment under the agreements is if the loans have previously been demanded back in full. Under the agreement they can ONLY demand the loans back in full if you fail to make a required payment under the agreement. In other words not having a DD in place is not a breach of the agreement that allows the to demand the loan back in full, so it is not a breach that gives them legal grounds to refuse a deferment. Again Erudio do their best to make you think otherwise with deceptive wording on the forms.
    Still rolling rolling rolling...... :) <
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  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
    ✭✭
    Nice article for some things indeed and thank you for looking into it in detail but was it actually Erudio you were talking to Helen, or someone speaking on behalf of Erudio? With very suggestive recent evidence that they have subcontracted all work out to Ventura/Capita, who was answering those questions? I am curious.
  • sabasasabasa Forumite
    2 Posts
    Hi All

    Just looking some advice about whether I would qualify for deferment, I have looked at various sites including SLC and Euridio but can't see anything that would cover my particular circumstances

    I earn just above the amount for deferment (£53 above per month) but last month I opted to "buy" additional leave from my employer and as a result the amount that I am paid before tax and N.I has reduced, this reduction in my salary is until December. The amounts are shown on my payslip as shown below. I think that my "gross salary" is the amount after the additional holiday is taken off, not the basic salary amount and that I would qualify for deferment. Can anybody advise if I am correct?

    I fear I may have a battle on my hands to get Euridio to accept this and that they will insist on taking "Basic Salary" as the relevant figure but I would argue that this is not the amount I was paid, the amount I was paid is the figure after additional holidays have been deducted.

    Payments

    Basic Salary 2812.16
    Additional holidays - 135.20

    Total Payments 2676.97


    Gross pay this employment 2812.17
    Taxable pay to date 2676.97
  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
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    Anyone believe the claim by Erudio/Ventura/Capita in the new MSE article that only 50 people have had DDs taken?

    Also, anyone had payments taken this week?
  • rizla_kingrizla_king Forumite
    2.9K Posts
    ✭✭✭✭
    erudioed wrote: »
    Anyone believe the claim by Erudio/Ventura/Capita in the new MSE article that only 50 people have had DDs taken?

    Not for one millisecond.
    Still rolling rolling rolling...... :) <
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