ERUDIO student loans help

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  • anna2007
    anna2007 Posts: 1,182 Forumite
    @ Pluthero Yes, that Hansard quote is a real gem :)

    It's not my FOI though, I think the credit goes to GinOClock, who made another excellent FOI request on CRA reporting between the different owners of the MS loans.
  • anna2007
    anna2007 Posts: 1,182 Forumite
    Pluthero wrote: »
    Just trying to find a common link, have they searched everyone's? I wonder how many people have even checked?

    (Anna I believe, did not report a search but she used their DAF and was deferred.)
    No search on my credit file, but Jonez used the DAF and was deferred like me, so that can't be the common link (although there's probably no rhyme or reason to how they go about it!).

    Wondered if either of you declared credit card expenditure/loans as a means of financial support, as that's asked for on the DAF and could be checked on a credit file?

    I assumed most would be checking their credit file, because of Erudio's threats to report loans/leave a search footprint? Maybe that's not the case though.
  • Well, I have had my final response from Erudio and it sounds like the letter many of you may have received. Its three pages long and rejects my complaint and requests I fill in a DAF. :T

    I am happy to post the whole thing if it is useful to anyone but the upshot is...

    They are citing Section 11 of the Education (Student Loans) Regulations 1997 as the reason I must fill in a DAF. The part I think they mean is that 'if he satisfies the loan administrator' which can only be done using the form???

    The first news I have heard that borrowers with post 98 agreements are being offered the option of consent. No option was ever offered to me until I was made officially aware of it today via their letter way after my deferment ended.

    They also state that they have discussed the content of the disclosure of information sections of the terms and conditions with the Information Commissioner's Office. Erudio considers that the reporting of accounts to CRAs is in accordance with the terms and conditions as specified in section 16 (Disclosure of Information) of borrowers' credit agreements that were issued before 1998.

    Some random nonsense about Direct Debits again...

    They do confirm kindly that as of last week they have not passed any information relating to my account to a CRA.

    I'm now going to wipe the floor with these clowns! One is not amused :mad:
    Paying for uni to get a job... just to get a job to pay for uni
  • anna2007
    anna2007 Posts: 1,182 Forumite
    edited 10 February 2015 at 4:48PM
    @ BorderReiver14 The 1997 regs were replaced by the 1998 regs, so don't even apply!! Instead of saying we must 'satisfy the lender', it's been amended to say we must 'show' the lender income is below the threshold, i.e. provide evidence. BIG difference! :)

    Perhaps they could have argued that the DAF was a requirement, if the 1997 wording had remained. But it didn't. So they can't!
  • fermi
    fermi Posts: 40,546
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    They are citing Section 11 of the Education (Student Loans) Regulations 1997 as the reason I must fill in a DAF. The part I think they mean is that 'if he satisfies the loan administrator' which can only be done using the form???

    Tiny tiny tiny tiny tiny flaw in that argument.

    See: http://www.legislation.gov.uk/uksi/1998/211/made
    Revocation

    2. The Education (Student Loans) Regulations 1997(2) and the Education (Student Loans) (Amendment) Regulations 1997(3) are hereby revoked.

    :rotfl::rotfl::rotfl:
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  • fermi
    fermi Posts: 40,546
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    edited 10 February 2015 at 5:00PM
    anna2007 wrote: »
    @ BorderReiver14 The 1997 regs were replaced by the 1998 regs, so don't even apply!! Instead of saying we must 'satisfy the lender', it's been amended to say we must 'show' the lender income is below the threshold, i.e. provide evidence. BIG difference! :)

    Yes. Seems another attempt to mislead.
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  • fermi
    fermi Posts: 40,546
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    They also state that they have discussed the content of the disclosure of information sections of the terms and conditions with the Information Commissioner's Office. Erudio considers that the reporting of accounts to CRAs is in accordance with the terms and conditions as specified in section 16 (Disclosure of Information) of borrowers' credit agreements that were issued before 1998.

    Not the same as the ICO considers then?

    I notice they are still not brave enough to claim that. And honestly Erudio can consider what the hell they like, it doesn't make it legal.
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  • Jonez
    Jonez Posts: 117 Forumite
    Gordon Bennett - they don't even know what regulations they are operating under..... as others have said many times in the previous 3200 odd posts - they really are just making it up as they go along! Scary.
  • anna2007
    anna2007 Posts: 1,182 Forumite
    I think they know fine well which regulations apply, but the 1997 wording suits them better!
  • Yep... The letter is certainly going to help my cause. You just couldn't make this $"&t up! Another gem from the letter....

    "In the UK, it is generally agreed that reporting relevant and appropriate levels of information about credit agreements and how they are being paid is an important part of the process required to support responsible lending and borrowing"
    This pearl of wisdom is in relation to reporting our loans to a CRA, so it seems they just want to do us a big favour here.

    "Eurdio has adopted a different approach to the deferment application process than SLC previously applied. (had any of you noticed this? The information we are asking for will help us confirm borrowers current gross income and determine their likely gross income over the next three months in order to satisfy the conditions of deferment. This change in approach does not constitute a change to the terms and conditions of the loan as prescribed in the Education (Student Loans) Regulations 1998. The method of the deferment process is not specified in those terms and conditions"
    Hitting the nail on the head or shooting yourself in the foot?

    "If you wish to defer your repayments, please complete and return the DAF we have sent at your earliest convenience. We believe this is a reasonable request to ensure all customers are treated fairly by applying a consistent approach to our underwriting procedure"
    Hmmm, I bet you do!
    Paying for uni to get a job... just to get a job to pay for uni
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