erudio student loans

[mrsbug]

Hi, I have an old student loan from 1998 which I have been deferring since then as I have never earned enough to pay it back (there are some advantages to being poor )

I recently had a letter from a company called erudio student loans saying they have bought my student loan from the government. All very reassuring about how the t and cs of my loan won't change, etc.

Now I've had the regular deferral letter from them and it's much more detailed than before. They want my bank details which I'm not really happy to give, and they say my details will be checked with a credit reference agency, which I don't think they used to do - my loan has never shown on my credit file.

Has anyone else had this? Do I have to give them this info?

In fact, i think i misread it, it is indeed me who has gone crazy today!

erudioed - where did you find that comment about the T&Cs?

The guy from CAG you are quoting is utterly clueless.

The form and content of the deferment forms are not set down in either law or in the loan T&Cs.

There is nothing in them to say they or you even have to use a form.

All the law says is that you are entitled to request and be given deferment if you meet the gross income conditions set down in law. Nothing more.

this thread:
www.consumeractiongroup.co.uk/forum/showthread.php?420355-Erudio-Student-Loans-using-state-benefits-in-their-calculation-of-gross-income-is-this-right/page2

again, i think i read the quote wrongly, and it actually agrees with what this thread has been saying.

Decided to join up here to get some advice, seems to be about the most up to date, sensible information that I've found so far.

I got a deferment form through from Erudio a few weeks back, and I'm glad I sat on it for a while. My current deferment runs out early in May, so I need to get something back to them pretty soon now. I'll probably amend their form to remove the new terms and include a covering letter to explain that I don't accept them, but do want to continue to defer.

I'm well under the deferment threshold, so it shouldn't be a problem. I can include the last 3 months of payslips no problem. Do I need to evidence my working tax credits? I also have a modest self employed income, do I need to evidence that as well (it'll probably need my tax return to do so).

Letter sent - I will let you know what happens...

hi I have been in contact with the nus posted last night, I strongly feel that I was probably one the first to get to the department I did, I also feel they will help, this is all very new not just for us at the bottom of the chain.

I'm going to email these people and then phone them again the next day to confirm they have received it and an excuse to contact them again,
please other people try these contacts cos I really believe they will help!!!

Head of social policy at nus is David Malcom, no direct number or email. but I will send an email to NUS that is address for his attention.

[email protected] is the guy you need to speak to he works closely with David Malcom,

to phone them I have been using 0845 5210 262. you have to go through selection by pressing numbers on your phone, its none of the above twice then you get a person. I spoke to ZAK at customer services today, whom got not answer from Khurrumdar who is the guy I randomly got through to the other day.( to repeat my pervious post)
he put me on hold managed to speak to David Malcom he retured to the phone with the following info

they cannot change the tandc

they can change the admin procedures they use.

finishing with if erudio step out of line they would be interested.

so lets all do it!!!

hi erudioed not sure that link is working but from the cut a paste you have put, it can be easily miss read, you could think that they were saying your idea of a new form is wrong/not poss.
but I'm reading it as support cos what they are saying is the new forms we have should not have been produced,
any way they have made a new one and we don't like it, so they can do it again!

so either way your right!!!

[email protected] (but he told me his email had a full stop before the dar). Thats where i ended up today with this guy by following an identical procedure from the number you gave last night.
I would suggest Erudio have stepped out of line by changing the T&Cs, thats why i was ringing, to check for sure if they had, and stating where i thought they had. As such, if they have, Erudio already have stepped out of line...i thought that was the whole point thus far, and why this thread exists because we think they have an about 3 to 5 things.
I suggest its rather serious for a company that has made such promises as Erudio, to mail out a deferral form that implicitly makes us sign away SLCs T&Cs by getting us to sign over the right for them to send on our info to CRAs where we will be listed as having a loan that is deferred..i.e. a loan that hasnt been paid back. If anyone sees that as a positive, and not used as a threat to get us to start paying, i dont know what the hell is a breach of T&Cs. This is deceitful because they say it will help us and help them. How can it help anyone to have more information listed about them that is available to access by paying businesses where you will ultimately be listed as someone who has a loan but isnt paying it off.
And the administration procedures, i am not 100% sure what that means. I couldnt care less how they do things there end but if that means using more information and needing additional unnecessary information to make a deferral that differs from SLC, is that a breach of the T&Cs or administration procedures.
Why that isnt something NUS should be looking into immediately i dont know. After all, if they were looking for a reason why selling off such loans to this company was a bad thing, they dont have to look much further than what has happened thus far?
If anyone else speaks to this NUS guy, i would be interested to hear what he said, maybe via a personal mail.

Nice one iwillwin, thats the way i saw it actually after reading it the second time as well. That was the whole post i pasted.

can anyone advise me what to put for third party support when my husband supports me financially in as much as he pays bills, mortgage etc but he doesn't actually pay money into my account? I can access his wages but I don't get an income from him! Should I just tell them that and get him to do a letter saying the same? Omg am stressing about all this!!

I would suggest just like with SLC, get him to write a short letter saying he supports you and that it is below the £(the threshold figure). You are not obliged to tell them anything else because they will jump on any additional info you give them. And dont bother with the bank statement, in SLCs proof for deferment, they only need the covering letter from the support. If they ask for more info, then file an official complaint. And make sure you consider that signing the deferment application as is, is your agreeing to them to pass on all that info in that form onto CRAs, and maybe Erudio could also argue any info you pass onto them. If you dont want that to happen, i suggest complaining officially, but others suggest blacking out all those parts or adding another letter telling them you dont agree to that. No one knows which is more effective yet, we are pioneering.

Thank you, I think I will take your advice and just do the same as I did before for SLC ie a letter from dh. I will definitely add the letter saying I don't agree to them passing on info etc. This is all very worrying, but good to have this support.

Hi all. Just read through this thread after spending the day giving myself a migraine dealing with Erudio Student Loans. Thanks for everyones efforts and posts. A big help. I will post my experiences once the migraine has gone, but feel the posts about referring this to the BIS government department are all excellent posts. Off to lie in a darkened room. Stay positive all and don't worry.

hey erudioed, cant quite follow your last post you said you spoke to them today, but what was there response?

also just tried to send email to khurrumdar.n it didn't send now I know why I will try again with the dot!

however because the email would not send I searched the nus web site for info and found an email for [email protected] so sent it to that, I will now go back and send another copy to khurrum.dar

bit of a tangent but why was I told david Malcolm does not have an email address at reception when the web site gives one. odd odd odd.

here is a copy of what I sent.

To Khurrumdar and David Malcom

I spoke to you on Monday afternoon regarding concern about my now Erudio student loan.

Your reply that they could not change the terms and conditions of the loan was very reassuring. You also said that they can change the administrative procedures they use.

However I am still concerned that the new Erudio Deferment pack requires a lot more personal data that they do not have the right to ask for. I therefore would like to ask: what do I legally have to do/what information do I need to give them to defer my loan? Would it be possible to send a letter with the required payslips and other evidence instead of signing the form? Or would that put me in some kind of breach of contract?

My second concern is that the new forms are set out in such a way that in signing for deferment, you are also signing that you agree to new terms and conditions in the form of giving them permission to mark your credit file as having a loan in deferment. Yet the original student loan agreement was that being in deferment would have no bearing on your credit file. Please advise.

I have been to my local Citizens Advice Bureau. They told me that my concerns were correct and that the problem with the form would be classified as a social policy issue. They recommended that I sought legal advice, however, this is financially not an option for me .........please help me and thousands of others in clarifying this matter.

Please also take time to follow the link below as I feel this forum thread shows very well my concerns and others, about the new form. I believe Erudio are trying to trap people who innocently sign a form without reading the small print.
www.mumsnet.com/Talk/legal_money_matters/a2028211-erudio-student-loans

I will contact you by telephone to confirm you have received this email

Yours Sincerely,

I think it would be great if the NUS could be motivated to get involved in this and use their publicity machine to get some wider attention howver, I am a bit cynical about how much use they will be.

On the broadest 'point of principle' of course, they'd be interested as it potentially could affect CURRENT NUS members with loans.

IF we were active NUS members we might have more leverage but in their eyes (although this issue is eventually going to get ALL students when the entire loan book is privatised) we're old folks/has-beens.

We're not really their demographic. I hope I'm wrong but I can't see them getting out of the bar on a friday afternoon to help people who last paid an NUS subscription 15 years ago.

iwillwin, it should be [email protected] .
It is a good letter. It would change this :
However I am still concerned that the new Erudio Deferment pack requires a lot more personal data that they do not have the right to ask for because it in no way helps decide whether i am earning below the payment threshold to be deferred. This form is for deferment, not the gathering of additional personal information that can be used in conjunction with CRAs. All a deferment requires is evidence i earn below the payment threshold and if i can prove that, then i have done nothing wrong and have fulfilled my original agreement with SLC. Erudio seeing how credit worthy i am via CRAs has no bearing on my deferment because CRAs do not include information on income, just credit agreements that i have made.

maybe paraphrase/add something this as well:
By deferring, we implicitly sign over the rights of our original T&Cs to allow Erudio to share the personal information we provide to them to CRAs. At CRAs our files will marked as 'deferred'. Where is the positive in having a loan listed on our CRA file at the 3 biggest CRAs thats listed as not having been paid back...where is the positive there to me? And is Erudio really treating 'borrowers fairly at all times' like they state. I fail to see how that is a positive and not a directly veiled threat to get us to start repaying if we dont want that to happen.

just heard back from BIS who has passed on my complaint. Dont forget to mail them with where you think Erudio has over stepped their mark because if Erudio's complaints responses are very poor, this is one potential avenue for them to get a real dressing down, and to treat us, as they state, "fairly at all times", and hopefully have a bearing on our future years of the deferment process.
[email protected]

just found this as a point of interest, concerning Arrow Global (one of those helping us manage our loans) and its relationship with Experian:
Arrow Global extends relationship with Experian:

"Nottingham, UK, 9th December – Experian, the global information services company, today announced that Arrow Global, a leading provider of debt purchase and receivables management solutions, has extended its long-term contract with Experian for the provision of specialist data and analytical services in the UK and Ireland.

Experian will continue to provide Arrow Global with data and analytical services until 2018. These services enable Arrow Global to more efficiently manage accounts, better understand specific circumstances of individual customers and to determine the recovery strategies across its diverse services book whilst ensuring customers are treated sensitively throughout the lifecycle.

Simon Waller, Head of Collections and Customer Management at Experian, commented: “This is an important partnership for Experian and we look forward to providing Arrow Global with data and analytical services for many years to come. Having a crystal clear view of individual customers through comprehensive data is becoming more important than ever for those who operate within the debt collection industry. The extension of this contract means Arrow Global will have access to a wide range of data, helping it better understand the debt portfolios it manages.”

Zach Lewy, Founder and Executive Director of Arrow Global, commented: “We are delighted to be extending this partnership with Experian, which has proved hugely successful over the last 18 months. It is vital we use the most robust data and analytical tools in order to more effectively recover debt for our customers. Continuing work with Experian will ensure we are able to provide the most efficient service for the debt portfolios we manage which includes more than £6 billion of receivables across over 3 million customers in a range of sectors.” "

I may also add, that Arrow is just one of the many subsidiaries owned by SLM corporation, known as Sallie May, which is currently going through a rather serious case case in US courts concerning debt collection practices amongst other things.
Just thought it may be interesting as a bit of a background and maybe a reason why CRAs are important to these bunch, which to me suggests we should not allow them to conduct CRA checks on us like they ask for in the deferment packs, report our accounts to CRAs, or collect additional info SLC didnt need for a deferment application.

@erudioed - and that's why they want all the extra data!

Yes, never forget that they are debt collectors. Everything they do is geared up to that.

They do not want people to defer or be able to defer as that makes them no money.

They will do everything they can do make you think you can't defer or have to pay back when you don't.

They will phish for all the usual info debt collectors want in order to decide who are the people most likely to be bullied into repayment and who are basically a lost cause (no offence to anyone).

This is not a nice company. They are a bunch or ruthless barstewards.

Sorry. Not trying to frighten people, but it's important to understand who these people are and what motivates them. That way they can be countered.

@ mandakl

I've suspected what you have said since i first heard of the sales, but it also makes me wonder. How many legit deferrals do they plan to try and refuse? What is their criteria for tying it on with a legit deferrer as opposed to granting deferral. Would be interesting to be a fly on the wall.

I think the first criteria they will assess is how compliant someone is to their requests. If someone has just filled in the forms and sent back with no queries, complaints, omissions etc, i think they may be targeted.

Secondly it might be how long till a particular loan can be written off. Those closer to those write off dates may find Erudio much more obtuse in their dealings.

After that it's going to come down to income, how close to the threshold do you come.

They will have to grant deferrals every year, if they try to refuse every deferral, and it would only take a freedom of information query to find out, then i think they would be up the creek a little.

They might seem incompetent from the outside, but that is part of the act, there is horrible, nasty calculation working away in the background.

My employer wrote me a letter detailing my annual salary as I haven't worked for them long enough to have three payslips. Anyone know if it needs to go into detail because all it says is "X earns £salary per annum" and that's it. Just wondering if I need to get them to write anything else because last time I had a statement of earnings from an employer it showed more than that.

I'm planning to send them a recorded letter including the deferment pack unsigned and detailing why it hasn't been signed. I'll probably highlight the change to T&Cs regarding deferral. I'm still waiting for a reply to that email.