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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 319
    • Brooker Dave
    • By Brooker Dave 7th Nov 18, 10:50 PM
    • 4,921 Posts
    • 3,152 Thanks
    Brooker Dave
    Hi there, not sure if you could help me but I have just received a letter from Dryden on behalf of Erudio with a claim to be settled in northampton County court. I have not received any deferment forms from Erudio and only one letter a while ago telling me they were taking over my loan. I asked for deferment forms and did not receive any. I am not sure how to proceed with my response to the claim. I cannot afford to pay back my loan, but I do not want to start paying off a claim as I am 50 in 2 years and my student loan will be discarded then... What is the worse that could happen if I do nothing and the claim is upheld against me?
    Originally posted by jocrow
    You need to respond to the claim otherwise they will get a CCJ

    Put in a defense
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • Brooker Dave
    • By Brooker Dave 7th Nov 18, 10:53 PM
    • 4,921 Posts
    • 3,152 Thanks
    Brooker Dave
    Looks like Cargill/Arrow are going for it and using the courts to milk their victims...
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • BaffledByErudio
    • By BaffledByErudio 9th Nov 18, 12:58 PM
    • 105 Posts
    • 151 Thanks
    BaffledByErudio
    Worrying. Hope this isn't an 'in it for the long term' tactic, where they might chase you when you're nearing write-off point.
    • VT82
    • By VT82 9th Nov 18, 1:16 PM
    • 1,031 Posts
    • 872 Thanks
    VT82
    Yep I got that letter today and thought nice try Erudio. I laughed at it as I'm not that stupid and I'd hope most other graduates aren't either.
    Janette (@NattyNetty) September 8, 2018
    You can't be that bright if you still aren't earning 30k 20 years after being at uni
    • heartbreak_star
    • By heartbreak_star 9th Nov 18, 2:10 PM
    • 7,828 Posts
    • 17,285 Thanks
    heartbreak_star
    You can't be that bright if you still aren't earning 30k 20 years after being at uni
    Originally posted by VT82
    Vicious and incorrect. Much depends on area of the country and career path.

    HBS x
    "I believe in ordinary acts of bravery, in the courage that drives one person to stand up for another."

    "It's easy to know what you're against, quite another to know what you're for."

    #Starmer4PM #Bremainer
    • MSE Callum
    • By MSE Callum 9th Nov 18, 2:46 PM
    • 493 Posts
    • 174 Thanks
    MSE Callum
    Hi all, hope you've had a chance to see this https://www.moneysavingexpert.com/news/2018/10/student-loan-borrowers-who-started-uni-pre-1998-are-being-given-/
    Read the latest MSE News
    Flag up a news story: news@moneysavingexpert.com
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    • erudioed
    • By erudioed 9th Nov 18, 4:22 PM
    • 654 Posts
    • 935 Thanks
    erudioed
    And another article in the Daily Mirror as well: https://www.mirror.co.uk/money/pay-your-student-loan-half-13562555
    • want_to_save
    • By want_to_save 9th Nov 18, 7:43 PM
    • 358 Posts
    • 566 Thanks
    want_to_save
    Erudio and Salary Sacrifice
    Hi guys,


    have mortgage style student loan and currently paying as salary above the level however i am increasing my salary sacrifice in Dec and that would bring notional salary below the limit.



    Erudio state that they use contracted gross pay not notional gross pay (even though if i were to go for a mortgage mortgage company use notional)


    anyone had any success with salary sacrifice and erudio. Not sure where to go?
    • Lungboy
    • By Lungboy 9th Nov 18, 8:45 PM
    • 1,688 Posts
    • 1,757 Thanks
    Lungboy
    My offer was only a 30% saving on what I owe, far from 50%.
    • erudioed
    • By erudioed 14th Nov 18, 9:23 PM
    • 654 Posts
    • 935 Thanks
    erudioed
    Just had someone contact on twatter who "just got my 2nd chance “one time” settlement letter through!!"

    As such, it seems like these scumbags are now using this as their latest opportunity to 'make as many contacts with debtors as possible' tactic. I think this should to go down the route of reporting them (making official complaints) for pestering.
    Outside of deferment time and them sending any required statements and the like, there should be no other contact. Surely that has to be pestering, with the threat of the ombudsman. Oh, and compensation for taking up time and inconvenience caused, etc.


    An update: The settlement offer this time is actually higher than the original offer. They even added the interest. Lets not forget, the value of these loans actually decrease to Arrow Global as each month passes in deferment.
    Last edited by erudioed; 14-11-2018 at 10:03 PM.
    • MSE Callum
    • By MSE Callum 15th Nov 18, 9:16 AM
    • 493 Posts
    • 174 Thanks
    MSE Callum
    If anyone has one of these second time offers we would love to do a follow-up story. If you could send an image to callum.mason@moneysavingexpert.com we'll ensure we blur out ALL identifying details before publishing.
    Read the latest MSE News
    Flag up a news story: news@moneysavingexpert.com
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    • want_to_save
    • By want_to_save 15th Nov 18, 1:14 PM
    • 358 Posts
    • 566 Thanks
    want_to_save
    Hi guys,


    have mortgage style student loan and currently paying as salary above the level however i am increasing my salary sacrifice in Dec and that would bring notional salary below the limit.



    Erudio state that they use contracted gross pay not notional gross pay (even though if i were to go for a mortgage mortgage company use notional)


    anyone had any success with salary sacrifice and erudio. Not sure where to go?
    Originally posted by want_to_save
    Has anyone any experience of this?
    • dizzybuff
    • By dizzybuff 16th Nov 18, 5:07 AM
    • 1,396 Posts
    • 2,302 Thanks
    dizzybuff
    Yes. Im a single mum a d salary sacrifice my childcare. My wages is below the max wage anyway. But thwy add benefits and maintainance onto it. So therefore either way Im over the limit. 78 quid a month is a lot to me nd they don't give a toss.
    ONE HOUSE , DS+ DD Missymoo Living a day at a time and getting through this mess you have created.
    One day life will have no choice but to be nice to me
    • Lungboy
    • By Lungboy 16th Nov 18, 9:59 AM
    • 1,688 Posts
    • 1,757 Thanks
    Lungboy
    Has anyone any experience of this?
    Originally posted by want_to_save
    Sadly they are correct, it's calculated on true gross salary so sacrificing won't be taken into account, otherwise anyone over the threshold would just sacrifice back under it via pension payments.
    • Tammy76
    • By Tammy76 16th Nov 18, 11:21 AM
    • 1 Posts
    • 0 Thanks
    Tammy76
    Am I obliged to pay capquest?
    A couple of years ago, I missed the deadline for sending my deferment forms back to erudio, and subsequently they passed my debt on to capquest. I had to complete all sorts of forms regarding my income and expenditure and then they set up a 30 per month repayment. I was told that I HAD to proceed with repayments as it had got to this stage. Stupidly I went along with it as I was scared about getting bad credit ratings etc. Now, after reading some of the posts, I am wondering whether I can stop paying. I am still well under the threshold, and under the terms of my original loan I am pretty sure I don't need to be repaying it. All feedback welcome!
    • want_to_save
    • By want_to_save 16th Nov 18, 1:58 PM
    • 358 Posts
    • 566 Thanks
    want_to_save
    rubbish. Thank you for taking the time to answer my question

    cant wait till its finally repaid hate giving these people any money!!!!
    • Lungboy
    • By Lungboy 16th Nov 18, 3:44 PM
    • 1,688 Posts
    • 1,757 Thanks
    Lungboy
    A couple of years ago, I missed the deadline for sending my deferment forms back to erudio, and subsequently they passed my debt on to capquest. I had to complete all sorts of forms regarding my income and expenditure and then they set up a 30 per month repayment. I was told that I HAD to proceed with repayments as it had got to this stage. Stupidly I went along with it as I was scared about getting bad credit ratings etc. Now, after reading some of the posts, I am wondering whether I can stop paying. I am still well under the threshold, and under the terms of my original loan I am pretty sure I don't need to be repaying it. All feedback welcome!
    Originally posted by Tammy76
    Even though you are under the threshold, if you're in arrears then you can't defer.
    • fermi
    • By fermi 16th Nov 18, 6:55 PM
    • 39,669 Posts
    • 47,650 Thanks
    fermi
    Even though you are under the threshold, if you're in arrears then you can't defer.
    Originally posted by Lungboy
    Agreed, sadly.

    Plus if they terminate or have terminated the agreement due to arrears, you then you your right to defer permanently and all sums are due immediately.
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    • datlex
    • By datlex 9th Dec 18, 5:13 PM
    • 1,990 Posts
    • 2,347 Thanks
    datlex
    Agreed, sadly.

    Plus if they terminate or have terminated the agreement due to arrears, you then you your right to defer permanently and all sums are due immediately.
    Originally posted by fermi
    Where on earth does it say in our original agreement they can do this?


    On separate note I noticed there is nothing on their website regarding when loans expire. Eg. ones prior to 1998 expire after 25years or age 50.
    • Lungboy
    • By Lungboy 9th Dec 18, 8:17 PM
    • 1,688 Posts
    • 1,757 Thanks
    Lungboy
    Where on earth does it say in our original agreement they can do this?
    Originally posted by datlex
    I'd have to dig out my paperwork but it's in there somewhere, if you are in arrears then they can demand full payment. This was unlikely to be acted upon when the SLC owned our loans, but now Erudio have them it's a very different picture.
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