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  • FIRST POST
    TazFrank1
    ERUDIO student loans help
    • #1
    • 16th Mar 14, 10:32 PM
    ERUDIO student loans help 16th Mar 14 at 10:32 PM
    HI,

    My student loan has recently been sold to erudio student loans company. I currently defer my loan as I am below the salary threshold to pay it back. The letter states that erudio will supply details of my loan to credit rating agencies, something that has never been done before. There have never been any details of my student loan on my credit file. Will this adversely effect my credit score?? I know I am right to defer as I do not earn enough to start paying it back, however, I am worried that a 10k student loan debt that has not been paid off can only be a bad thing for my credit score

    thanks
Page 313
    • erudioed
    • By erudioed 14th Mar 18, 7:56 PM
    • 647 Posts
    • 933 Thanks
    erudioed
    Recommend Dispatches from 12th March called "Who's Policing Your Bank" Its an undercover investigation at the Financial Ombudsman on how they treat bank complaints but highlights why compensation is so low when someone spends months of time and the accompanying stress caused by company bullsh*ttery. It also explains why many ridiculous decisions have been coming out from there for the last few years, especially for us with Erudio complaints.
    Basically, the staff arent trained, they are on a quote system and they just dont know about most of the 'products' they are suppose to be investigating. One FOS worker said it was easier to dismiss a complaint without doing any investigating (in essence siding with the bank) because it was 'easier' and helped hit targets. And thats not even mentioning the PwC restructuring...

    Terrible as it is, and its still ongoing, i think the lesson is to keep complaining to the Ombudsman when you get an unsatisfactory response. And i guess that includes rejecting a judgment in your favour if it only offers you £200-£300...especially if your complaint (caused by Erudio alone) has cost you weeks, months and sometimes years of time and stress because that does have a price, which shouldnt be peanuts! And they know that.
    • zombi
    • By zombi 16th Mar 18, 11:40 AM
    • 40 Posts
    • 59 Thanks
    zombi
    Hi munchies,


    this is the one I used:


    deferment_enquiries@slc.co.uk


    Hope that helps.


    Ian360 I'd send a follow up email if I were you just to check that they received your letter. They normally reply within a couple of days.
    meh...
    • munchies
    • By munchies 16th Mar 18, 12:44 PM
    • 32 Posts
    • 10 Thanks
    munchies
    Hi munchies,


    this is the one I used:


    deferment_enquiries@slc.co.uk


    Hope that helps.


    Ian360 I'd send a follow up email if I were you just to check that they received your letter. They normally reply within a couple of days.
    Originally posted by zombi
    That's great thank you
    • jillymet
    • By jillymet 18th Mar 18, 3:54 PM
    • 5 Posts
    • 0 Thanks
    jillymet
    I'm new to this, so please forgive me and point me in the wrong direction if I've posted this in the wrong place. I really need help!!!


    Husband has two old style student loans from 1994 and 1995. He's never earned over the threshold for making repayments, so has always deferred each year with SLC by filling in the deferment form and sending off his payslips. No problems at all. We moved house in 2013 and, I'm almost certain, wrote to SLC with details of our change of address. We didn't even realise that it had been more than a year since he'd applied for deferment - it's just not something you think about on a regular basis! You almost forget the loans exist after 20 years and never having made a payment....
    So about two years ago we starting getting correspondence from Erudio. They wrote informing him that his account was in arrears. I rang them (he's not very good on the phone) and explained we hadn't had a deferment form for quite some time. They explained they'd taken over his loans from SLC and had sent correspondence which was returned stating we no longer lived at that address. They'd tracked him down using the electoral register I think. I said I was sure we sent our new address to SLC but they said no such letter had been received by SLC and passed to them. Anyway, I naively thought that explaining he had never earned over the threshold to start making repayments (which obviously we could easily prove with his payslips) would be sufficient for them and that would be that. However, they insisted that, as he had not applied and been granted deferment, he should have been making repayments - I think it was for about 18 months, and they claimed he was now £1200 in arrears. I argued with them for ages that yes, he had not sent off the deferment form (which we had never had) but the fact remained that he had not earned enough to have to repay so there should be no such arrears - of course they would not have it. Wouldn't let me speak to a supervisor, saying the outcome would not change. The call handler just kept asking me for card details and to make a payment there and then to prevent things from getting worse! I refused. I sent off a lengthy complaint by email, even bringing up the fact that one of the first letters we'd had from them stated they had messed up by not sending out some paperwork in accordance with regulations, but their reply was that they had proof they had sent letters to our old address and it was our fault that we had not received them due to not updating our address. They agreed to freeze the account so he would no longer accrue any further arrears and I think said they would remove 3 months' worth. They did still send him a deferment form (even though apparently you're not allowed to defer if you're in arrears) which we completed and sent off and he was granted deferment for a year. They still kept sending letters informing him his account was in arrears, and persistently rang his mobile multiple times a day for a prolonged period until we explained he has anxiety issues, and does not converse well over the phone. They advised they would note that he should not be contacted by phone any further but still kept ringing for quite some time.
    His next deferment was due just before Christmas just gone - we did this online this time, uploaded his P60 which according to their website was sufficient proof. They wrote saying they had not received the proof so we posted the P60 to them. They sent it back claiming it was not enough - no explanation of why - and requesting his last 3 months' payslips. My husband has been off work through suspension since November (which has been our overriding concern and focus since then) and does not have copies of his payslips for this reason as they've switched to electronic ones. Anyway, I admit we have kind of ignored this whole problem most of the time, after reading a lot of posts on here initially which led me to think Erudio weren't too much to worry about. We got a letter saying his current deferment period had ended so he needed to start making repayments. I ignored this, stubbornly thinking, we've completed the form, we've sent his P60, that should be sufficient, sod off! Got a letter a couple of weeks ago about the arrears again saying we had to take action by a certain date detailed in the letter (couldn't find this date anywhere on the letter) finally have received a letter yesterday (Saturday 17/03) saying as he has breached his agreement and not taken any action they are terminating his agreement which means we have to pay the full balance of almost £4000 within the next 7 days!!!!!! MAJOR PANIC!!!! What do we do first?? We are both Unison members and apparently entitled to a small amount of free legal advice - do we try to speak to a solicitor, I have a feeling that there is probably a few points a good legal brain could probably use in our favour, however at the end of the day according to Erudio he has breached the terms of the agreement. Now that it's reached this stage, can we/should we be asking for some kind of payment plan?? For loans that he has never, ever earned enough to mean he should have been paying back?? And which would have been written off in the next year or two if it wasn't for this whole sorry situation??
    I'd be so, so grateful if anybody can offer any advice!!!!!
    • Lungboy
    • By Lungboy 18th Mar 18, 4:48 PM
    • 1,466 Posts
    • 1,452 Thanks
    Lungboy
    Wow, that's quite a wall of text, it's incredibly hard to read. Could you reformat it?
    • jillymet
    • By jillymet 18th Mar 18, 4:58 PM
    • 5 Posts
    • 0 Thanks
    jillymet
    I'm so sorry! What do you mean exactly?? As I say, never posted before and unsure what to do!
    • DCFC79
    • By DCFC79 18th Mar 18, 5:40 PM
    • 32,574 Posts
    • 20,495 Thanks
    DCFC79
    I'm so sorry! What do you mean exactly?? As I say, never posted before and unsure what to do!
    Originally posted by jillymet
    The poster is refering to paragraphs would be useful.

    Just the bare bones of it would be useful.

    You posted in here yet you started a new thread 20 odd minutes later.

    Its a sunday so any advice may not beforthcoming until tomorrow.
    Last edited by DCFC79; 18-03-2018 at 5:43 PM.
    • jillymet
    • By jillymet 18th Mar 18, 6:09 PM
    • 5 Posts
    • 0 Thanks
    jillymet
    Ok, I do apologise. No idea what I'm doing really and wasn't sure if I'd posted in the appropriate place. Just panicking! Thanks for response.
    • DCFC79
    • By DCFC79 18th Mar 18, 7:02 PM
    • 32,574 Posts
    • 20,495 Thanks
    DCFC79
    Ok, I do apologise. No idea what I'm doing really and wasn't sure if I'd posted in the appropriate place. Just panicking! Thanks for response.
    Originally posted by jillymet
    Where you first posted was fine, it would get moved if it was relevant to elsewhere.
    • Brooker Dave
    • By Brooker Dave 19th Mar 18, 7:06 PM
    • 4,909 Posts
    • 3,148 Thanks
    Brooker Dave
    Ok, I do apologise. No idea what I'm doing really and wasn't sure if I'd posted in the appropriate place. Just panicking! Thanks for response.
    Originally posted by jillymet
    No need to panic, erudio (arrow global) are just trying it on.

    You have sent the P60, they have no right to terminate the agreement.

    I would have thought that they are in breach of contract?
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • Lungboy
    • By Lungboy 19th Mar 18, 10:59 PM
    • 1,466 Posts
    • 1,452 Thanks
    Lungboy
    No need to panic, erudio (arrow global) are just trying it on.

    You have sent the P60, they have no right to terminate the agreement.

    I would have thought that they are in breach of contract?
    Originally posted by Brooker Dave
    I'm not sure that's correct, Brooker. If the initial default is correct then unfortunately I think Erudio can call in the loan whenever they feel like it. The P60 is a bit of a red herring .

    e: I also answered on their other thread in the loan forum. Don't speak to them on the phone, only deal with them in writing.
    • ian360
    • By ian360 22nd Mar 18, 3:45 AM
    • 68 Posts
    • 10 Thanks
    ian360
    Thank you, Zombi. I have it all sorted now and have received written confirmation.
    • BorderReiver14
    • By BorderReiver14 5th Apr 18, 12:31 PM
    • 180 Posts
    • 412 Thanks
    BorderReiver14
    Hi Jillymet... did you get a solicitor? would a SARs to SLC confirm if they have the letter you sent?
    Paying for uni to get a job... just to get a job to pay for uni
    • Lungboy
    • By Lungboy 6th Apr 18, 3:24 PM
    • 1,466 Posts
    • 1,452 Thanks
    Lungboy
    So it begins....deferment paperwork sent off. Let's see what fun stuff happens this year.
    • Lungboy
    • By Lungboy 11th Apr 18, 11:17 AM
    • 1,466 Posts
    • 1,452 Thanks
    Lungboy
    Deferment confirmed with no issues :O I can't help but feel unsettled, as though something bad is about to happen.
    • Gemma.riley22
    • By Gemma.riley22 11th Apr 18, 2:31 PM
    • 7 Posts
    • 0 Thanks
    Gemma.riley22
    Hi, Iím desperate and donít know what to do. My student loan was taken in 1997 and was sold on to a company called Erudio. Between the loan issued and 2010 I deferred late so made a payment while the deferment was going through. I was first contacted by Erudio and told that because Iíd made payment in the past Iíd set a president and had to begin to repay the loan in full. Iíve never earned over the threshold to pay. Iíve foolishly been avoiding their calls for the last 18month as I canít aford to pay it back. Where do I stand?
    • Lungboy
    • By Lungboy 11th Apr 18, 2:40 PM
    • 1,466 Posts
    • 1,452 Thanks
    Lungboy
    That sounds a bit jumbled. Making a payment doesn't mean you have to pay the loan in full, you could still be eligible to defer. However, if you were late then you might have been in default allowing them to call in the loan. That's unlikely though if that was some time ago and you subsequently paid the arrears. It could also be that they were talking about the loan being statute barred and because you made a payment within the last 6 years the loan is still actionable.

    Do you have anything in writing from them? If this was done on the phone then stop talking to them on the phone and conduct all dealings in writing, be it email or paper. You need them to confirm to you exactly the status of your account.
    • Gemma.riley22
    • By Gemma.riley22 11th Apr 18, 2:48 PM
    • 7 Posts
    • 0 Thanks
    Gemma.riley22
    I!!!8217;ve nothing in writing and all correspondence has been over the phone. I probably am in default as I!!!8217;ve ignored their calls for 18 month and asked for everything in writing. I!!!8217;m still waiting. However, the calls from them are daily. I!!!8217;ve stopped answering but am worried I!!!8217;ll be taken to court.
    • Lungboy
    • By Lungboy 11th Apr 18, 2:56 PM
    • 1,466 Posts
    • 1,452 Thanks
    Lungboy
    Email them and state that you will no longer be talking to them on the phone and to stop calling you. Ask them to provide you copies of all paperwork they hold on you ( you might need to pay £10 for this).

    Unfortunately, ignoring their calls for 18 months means you will be in default and they are within their rights to call in the loan. Check your credit history with the 3 agencies (Noddle, Moneysavingexpert's credit club and Equifax, they are all free) to see if the default is registered.
    • Gemma.riley22
    • By Gemma.riley22 11th Apr 18, 2:59 PM
    • 7 Posts
    • 0 Thanks
    Gemma.riley22
    By calling in the loan- does this mean Iíll have to begin to pay them? If so can I then offer a token payment or will I need to pay what they ask?
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