ERUDIO student loans help
Comments
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Sounds just as bad to me give or take. So 335 times 60 is £20100...is that really the total amount you have to pay back? Maybe it is so, but it seems way off the mark, well compared to mine anyway.I found the letter and the good news is I mis-remembered the repayment amount. It is in fact 'only' £335 per month. No mention of how many installments.
@Anna: It was pretty definitive but the more they respond with such things, the greater the story/trail they leave for a future piecing together of just how things work. And who knows, it may just come back and give them an almighty bite on the leg. All it takes is a change in government and a party with a real eye on social justice, like in Greece for example! They keep continually hanging themselves in my opinion, maybe not now, but who knows what is around the corner...0 -
I found the letter and the good news is I mis-remembered the repayment amount. It is in fact 'only' £335 per month. No mention of how many installments.
Do you not have the right to ask them to confirm how many payments you actually made in the past? The SLC must have passed this information when the loan was sold.0 -
Do you not have the right to ask them to confirm how many payments you actually made in the past? The SLC must have passed this information when the loan was sold.
Its £10 for a SAR which should tell you everything about your account? Or am I wrong?
£335 per month sounds very high??0 -
335 per month with 12 months remaining would mean you borrowed somewhere around £20,000 in todays money with interest? Not possible.Still rolling rolling rolling......
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You should get a statement of account with a CCA request for a quid (but took 7 months for me to get the statement, think FOS must have told Erudio to send it, as it's in my complaint and turned up out of the blue 2 weeks ago).Its £10 for a SAR which should tell you everything about your account? Or am I wrong?
£335 per month sounds very high??
Erudio told me there was only 9 years' worth of loan data migrated over from SLC. The transactions from 1990 to March 2014 on the statement I received was provided by SLC, and only the last year by Erudio.
It might be worth CC2 phoning SLC to find out how many payments were previously made, they should still have that info and may be willing to send a statement of account, without the need for a CCA request.
It's not impossible that repayments could be over £300. Not sure how much the max loans were then, but say £12k was borrowed and CC2 finished paying 48 installments 5 years ago. With interest on the remaining balance in the 5 year period, that would leave 12 payments of well over £300 (I think!).0 -
Changed each year, but in 1998.Amounts of loans
6.—(1) Subject to paragraphs (3) to (5), in the case of a student attending a course at the University of London or at any institution within the area comprising the City of London and the metropolitan police district, the maximum amount of the loan in relation to any academic year shall be—
(a)if the year is the final year of the course, £945 if he resides at his parents' home, and £1,520 if he does not; and
(b)if the year is any other year of the course, £1,290 if he resides at his parents' home, and £2,085 if he does not.
(2) Subject to paragraphs (3) to (5), in the case of any other student the maximum amount of the loan in relation to any academic year shall be—
(a)if the year is the final year of the course, £945 if he resides at his parents' home, and £1,230 if he does not; and
(b)if the year is any other year of the course, £1,290 if he resides at his parents' home, and £1,685 if he does not.
(3) Where a student’s course includes a period of residence in a country other than the United Kingdom throughout an academic year, the maximum amount of the loan in relation to that academic year shall be £1,230 if the year is the final year of the course and £1,685 if it is not.
(4) Where a student’s course is an accelerated course, paragraph (1)(a) shall have effect as if for £945 and £1,520 there were substituted £1,290 and £2,085 respectively and paragraph (2)(a) shall have effect as if for £945 and £1,230 there were substituted £1,290 and £1,685 respectively.
(5) For the purposes of paragraphs (1) to (3), where a postgraduate course of initial training for teachers is of only one academic year’s duration that year shall not be treated as a final year, and for the purposes of paragraphs (1) and (2) a student’s place of residence is his place of residence on the date a certificate is given in respect of him pursuant to regulation 8.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
The FOS has asked me if Erudio has marked my credit file with a 'u'. I don't want to pay to obtain access to my credit file if I can help it, so I was wondering if anyone can confirm if Erudio has marked their credit file with a 'u'?
I have a pre-1998 contract.
Thank you if you are in a position to help 0 -
The FOS has asked me if Erudio has marked my credit file with a 'u'. I don't want to pay to obtain access to my credit file if I can help it, so I was wondering if anyone can confirm if Erudio has marked their credit file with a 'u'?
I have a pre-1998 contract.
Thank you if you are in a position to help
You can get free access to your file with a NODDLE credit report.
Erudio have not marked anyone's file YET.
They did a credit search on mine last May. Almost one week after receiving my deferment letter. Checking someone credit rating does not confirm income. I have complained to them about their illegal search and they are getting back to me. Its with their complaints dept, or Barry their part timer who only does 2 hours on Wednesday in a leap year
HTH0 -
Still rolling rolling rolling...... <
SIGNATURE - Not part of post0 -
I've just checked with Noddle - Erudio also searched my credit file last May!0
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