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?

@erudito

That manager is talking complete and utter sh!t.

Thanks for that Mandakl. I seem to remeber one year having to submit a deferment application with just a covering letter to SLC along with evidence. That is my plan this year too. I am not using their forms. As someone said earlier they are phishing for more information than what they are entitled to.

Re DD. This has always been a SLC requirement as I remeber quite clearly my 1st loan was refused initially as I had given SLC details for an account that DD's or SO's couldn't be set up on. SLC have never shown up on my active list of DD's . Erudio is now showing as active.

One more thing just a wee bit of advice. I get reimbursed for my petrol costs for work. I dont make any money out of it as Im just getting back what I have already paid out. it does show on my payslips as "travel expenses". Should I explain this to Erudio in the letter or let them work it out? Even if they do class it as income I'm still way below the threshold.
Thanks guys. :)

You have to remember that this is Arrow Global. Erudio are debt collectors wearing a thin disguise.

I know from dealing with Arrow and others of their kind, many of their staff, and even their managers, will tell outrageous lies to make you pay when you actually don't have to.

Deferring ex students don't make these people the fast buck they are after, so they will try every tactic and mistruth they can in order to get you not deferred and paying back.

Omg!!! @ Erudito.. that is shocking, but at the end of the day we cannot forget that this is a debt collection agency that will do anything and say anything to get a payment out of you. This is how they operate. They bully people! ! If you are eligible to defer then do so if it's refused or they demand payments from your savings kick up a fuss like many others are doing. I was in a right state earlier in the week about this however there is lots of good advice on this board and I actually feel that I am ready to fight my corner with these bullys. I know its hard but do not be intimidated by them. This is what they are relying on scaring, harrasing and intimidating people in to payment when they are legally allowed to defer. We are not doing anything wrong by wanting to defer.

@erudito

It asks on their own forms (section 8) to declare any savings or credit cards/loans etc then goes on to state that these should not be included in your gross monthly income calculations. This is not income and should not be counted.

Think about it this way, any savings you have are going to be made up from payments out of your income. The income you have earned whilst being below the deferment threshold. It is no business of theirs what you do with your income and strictly speaking it makes no difference at all if you can afford to pay back your loans, it only matters if your average monthly gross income is above the threshold.

Interest from savings, is income and should be declared.

If they had any ethics, they would reissue an updated deferment form (and return any that have already been submitted). But we know that they don't, the only people that won't get taken in by the current form are the ones like us that have figured it out and refused to agree. Lets face it, we a tiny minority at present. If 90% of deferers don't realise and sign the form, then Erudio will still be very happy.

The mis selling point is an interesting one - I may well have not bothered with a SL (or borrowed as much), if I'd known it would end up being sold to a debt collector, and being put on my credit file (if the go ahead and do it any way. I wonder how far they have to go before it makes a strong case for mis selling?

And why do they want to know about credit cards and loans, that has no bearing on anyone's gross monthly income?

Thank you all, but I swear that is what the manager said. I taped the call and have given myself a nervous breakdown playing it back just in case I misinterpreted things. No. I have not. Erudio want to know about savings as the government and especially the dept of Business, Inovation and Skills has allowed them FREE REIGN over the deferment process. Once deferals are processed, then maybe they will reject those with savings as deferrers with savings should be expected to pay back their student loan first (that is as close as was said to me as I can legally go I reckon). Why is the deferment process free from the original terms and conditions now? Because of the current government not caring about us and ababdoning us to debt collectors who have and who will never have an acceptable reputation. I feel so upset, dirty and helpless. I have never had credit like this and only accepted a student loan as at the time I was told it was almost like a grant and it would never be an issue until I earned a good wage. I was young and innocent then. If I had known the consequences I would have NOT done my History degree. I am sooo upset. My savings are there as I want to marry on the 10th anniversary of my fathers death. Now THANKS TO THE TORIES AND THE LIB DEMS Erudio will rob me if they can and tomorrow I expect the doctor will be giving me a prescription for tranquilizers and anti-depressants. I am too upset to post anymore. So good luck all. I am blubbling my eyes out as I type. Sooooo upset x

This is all absolutely shocking. Erudito - I'm so sorry that you are so upset. Surely they can't take savings from you?!

We really, really need some proper, legal help here.

They're talking bollocks, and if you have that conversation recorded, keep it in a very safe place, as that will be invaluable ammunition in the future.

They can't change the fact that if you're gross income is below the threshold they have to allow you to defer. You could win the lottery and have £20 million in savings and they couldn't make you pay (I seem to recall gambling winnings are specifically excluded as income, for tax purposes at least).

What they can (and most likely will do), is target people with savings, and other markers, to try and coax/trick them into repaying. They can legally do that, just about, and it is the sort of sharp practice they are so experienced in. They aren't entitled to know about savings and loans, so if you tell them, you are effectively volunteering the information. Their forms should make it clear that you don't have to tell them this stuff, but the current ones don't.

They are liars. Sooner you realise that the sooner you can start to get your head back together. These people will lie without a 2nd thought.

Please realise that these people are all lies and threats, but know that they cannot follow through with their lies.

They DO NOT have free reign over the deferment process.

The conditions for deferment are set down in law, and if you meet them you are entitled to it. Erduio will lie and cheat to try to make you think otherwise, but of your stand firm they will have to either cave or come seriously unstuck.

i repeat again, there forms need destroying and the process starting again. Now that they have the press watching them, and we are not alone, i feel that it is the most logical solution to put an end to this shambles.
Erudito, if you recorded that, you will be fine. Many of us have been told contradictory info, often in the same calls. One told me something what i knew to be a lie, and i told them such...and why it was a lie. He then apologised and said he made a mistake saying it. Just try to keep the stress down to a minimum, you most certainly are not alone in having a physical reaction to the stress of the current situation we find ourselves in because of Erudio's cowboy operation, and BIS's due diligence process.
Here is a list of our dear leader Mr Mark Filers other businesses that BIS probably didnt even know existed, many of which are related to The Wilmington Trust in someway, including HONOURS TRUSTEE 2 LIMITED, before it was named into our beloved Erudio!
www.companydirectorcheck.com/mark-howard-filer
It is no wonder Erudio is a shambles if our dear leader has all these other directorships dominating his time. Bravo BIS!

I received a letter yesterday about the remainder of my student loan. I have the new type and the old mortgage style one too. I got a letter from Sox saying I needed to start paying the newer loan through my wages, to the tune of 190 a month, as my old style loan was now settled. I was adamant it wasn't, I had purposely left a little bit in there as it would put off paying the new one.

Turns out I was right, there is a few hundred left, and now erudio have it. They now want me to sort out a payment plan, however This is now in addition to the money I am paying for the newer loan.

When I took out the loans, the agreement stated I could pay only one at a time! I wonder how much luck I will get with that now though, having read this thread I am worried they will ask for a chunk of money every month on top of the other loan payment, which we are lucky to be able to afford, some couldn't though. Will see how I get on with them on Monday.

Meant slc not Sox, silly phone. Also meant lucky enough to afford, possibly, as I just want it gone. If the ask for income etc then how do they take into account outgoings?

This really is disgusting!! Unfortunately its what these companies do though. Eurodito I was in the exact same boat at the start of last week. I was in a blind panic about it all. Sleepless nights. Not concentrating at work. The whole shabang!!! Now my head is clearer and my plan is thus.

• get copies of my payslips from work (I've had to submit them somwhere else).

• copy my P60 (not convinced they need this but my earnings were less last year so they can have it)

*send it all recorded signed for to Eurdio along with a covering letter ( I am not using their form)

And wait and see what happens next. My deferment runs until 22nd May so I still have time. All I know is I will NOT be intimidated by these people to pay back something I am legally entitled to defer.

There is so much good and accurate advice on this thread covering every eventuality and telling people exactly what to do to defer AND YET

Why are people acting like turkeys voting for christmas

Why are you still telephoning Erudio FFS??????

And then being surprised when they tell you they want their money!!!
And WOW! Telling lies! WOW!

Stop phoning them!!! Read the thread and submit your application for crying out load and then we might actually discover something worth knowing!

For the record

NO they cannot take your savings.

YES they can make you start repayments if your interest on savings means your gross income is more than £2398 per month - that's the INTEREST!

How much fricking savings do you need for that?

NO they do not give a feck about your credit cards UNLESS you say you are living off them.

JEEZ - People pleez! Read the threads and read the deferment forms properly!!!

The answers are all on here!

That is excellent advice. Don't talk to debt collectors on the phone. They lie.

In writing they dare not tell the lies they think they can get away with on the phone.

Great advice from emptycoffers and other on this thread. Their input has been invaluable and it is this advice that has actually got me focused on what to do/ what not to do next. Thanks everyone! !

Here's one, I've made some extra money over the year selling off personal items (uneeded bits n bobs) to help boost funds for our first baby. It was a couple of thousand made over the entire year. Would you declare that as income?

@ IchibodT -

If it's as you describe - I wouldn't. However if your actually saying that you are engaging in regular trade for profit with a view to making a living from that trade and that trade or business results in regular and consistent income appearing on your bank statements, in the sense of monthly deposits of some significance....

If that's what you're really saying, then it's a decision for your conscience.

I'm not sure what you're actually saying but if it's literally as you describe, I wouldn't declare it as income.

There's no means of Erudio 'discovering' income UNLESS you tell them.

Also, are you actually saying that the couple of thousand is the 'difference' between deferral and non-deferral?

And does that couple of thousand all happen to arrive in your current account in the 4 relevant months? (! month before deferral, 3 months afterwards) (effectively 1 month in terms of bank statement proof)

@emptycoffers

See that's just it... there has never been any bank details printed at the bottom of my letter/forms... it has always just been blank. I never thought anything of it until now.

I'm sure I would recall if there was any sort of special arrangement made to exempt me from what you are saying is the usual process... and I don't see any reason why I would have been treated differently.

If there has been a mistake then it hasn't been on my part... I have always been careful to do whatever was asked and to comply with everything. And if it was a mistake or a special exemption surely in all these years SOMEONE at SLC would have noticed or commented?

Hello All, Thank you so much for all the support and advice that has been given on this matter. Just to let you know what my position is and what I'm planning to do.

I received a 'Notice of Assignment' from SLC dated 22nd Feb informing me that my two loans (both taken out in '99) had been bought by Erudio. The letter stated that Erudio would send out deferment forms in March and the deferment date would be extend to allow for any delay. The SLC always had my up to date bank details with a DD set up although no money was ever taken.

On 10th March I received the Erudio deferment forms as well as a covering letter saying my repayment is due to start at the end of my deferment period on 19th May.

As I looked through the forms I was taken aback at how much info and evidence they asked for and was alarmed at the Fair Processing Notice too in relation to CRA's being informed if I was deferring. I 'smelt a rat' so decided to sit tight for a while to see if anyone else voiced an opinion...and here I am.

I have decided to fill out the Erudio form giving them the info they legally need in order to defer my loan which includes my most recent 3 month wage slips and most recent bank statement highlighting the child benefit i receive. I will black out any sensitive outgoings they do not need to see. I do not have a P60 as I only started in my post last April and was not in employment for 8 years prior.

I will sign the Certificate and Warranty under section 9 but I will cross out the 'Warning' notice with black marker pen. I am also attaching the following covering letter

Erudio Student Loans Ltd
PO Box 580
Rotherham
S63 3FR

Dear Sir/Madam,
Re: Loan Account Numbers **
**
Customer Reference Number *

Formal request for deferment under the Education (Student Loans) Act and Education (Student Loans) Regulations.

I formally request that my student loan accounts listed above are deferred for a further 12 months pursuant to the Education (Student Loans) Act and Education (Student Loans) Regulations.

In accordance with the regulations, I provide enclosed 3 wage slips confirming my gross income for the last 3 consecutive calendar months. I have also included a copy of my most recent bank statement highlighting the child benefit I receive monthly to enable you to process my deferment. All evidence shows:

-my gross income for the relevant month is not more than the deferment level.

-my gross average monthly income during the 3 months immediately following the relevant month will not or is unlikely to be more than the deferment level.

-where “relevant month” means the month before the month in which the borrower asks for deferment.

I do not wish to share private, personal or other data that is not relevant to the deferment conditions. I note that there is no requirement in the legislation or agreement to apply for deferment in a given format.

I declare that all information given is correct to the best of my knowledge, and no relevant source of income has been omitted. As such I fulfil the conditions for deferment.

Please note that I do not consent to any additions, amendments, or otherwise, to the Terms & Conditions of the original loan agreement by Erudio Student Loans Ltd. This includes the recording of any student loan deferment information with any Credit Reference Agency, with the exception of where a formal Notice of Default has been served in accordance with The Consumer Credit Act (1974) and The Education (Student Loans) Regulations (1997).

The recording of any information with any Credit Reference Agency in relation to the right of deferment under Section 11 (1) of The Education (Student Loans) Regulations (1997) will be constituted as a breach of the original loan agreement, and may result in civil proceedings being brought against Erudio Student Loans Ltd.

Yours Faithfully
**

I will make copies of all my correspondence and send it via recorded delivery. I do not intend on phoning Erudio to listen to their scare tactics from what I have heard on this thread. I will wait to receive their response from my letter/form.

As an aside, my husband and I have been saving to pay off some home improvements. We have a separate account in my name for this. i will be transferring all of this into his account tonight. I know that Erudio have no right to our savings but I don't want to take any chances.

Also, some of my friends I'm still in contact with from uni who took out loans at the same time as me both received deferment packs from SLC in Jan and have received letters confirming their deferment. Looks like the SLC worked through their deferment and I have just been unlucky, although I suppose they will receive letters from Erudio next year.

Anyway, sorry for the long winded post. It's good to document my actions and also share my experience with others in the same position. How does my approach sound to you? I am worried like many others. I will keep you all updated on any developments!!

@ emptycoffers

It's just as I said it was. I'm into my mountain biking and sold off two bikes. One I sold whole the other I broke down into many parts and sold off bit by bit. Along with a few other items I would not use again. I've checked it all out with inland revenue, I never bought anything with the intention of making a profit selling it on and I never earned above any of the tax thresholds.

Even with this extra money I'm still under the threshold by about £200 p/mth. The money from this was also paid to me in a sporadic fashion some months nothing , some a little some a bit more then nothing again for a while.

Something else, I also got cash paid into my account (from parents) for a buggy/pram (hate the term travel system!) and some small other transactions from my partner altogether with buggy money no more than a few hundred over the year (again with this added on I'm still a couple of hundred below threshold). Is this income?

I'm just wondering, I have declared everything but I didn't supply bank statements for any of this. Like I said it's not regular just lots of one off payments, and it was all done due to the baby arriving so it won't be happening again this year so bank statements would be worthless unless I sent the whole years which I'm not gonna do.

@ IchibodT -

If it's as you say, I don't really know what you're worried about.

I don't know the details of your personal finances but on the basis of what you say, your worries seem unfounded.

Although I can't tell if you're alluding to payments into your bank which are regular and consistent enough to give the 'appearance' of an additional income.
As long as the total is under the threshold and you would be prepared to 'hand on heart' it in front of a judge - then you've got nowt to worry about. It will probably never come to that so don't let this stuff under your skin.

You're fine IchibodT, it's just selling your own second hand goods, bit like if you had sold a used car. If you regularly bought things to sell on at a profit, that would be declarable income. But unless you put it on your tax return they won't ever know about it.

I've had another look through the form and accompanying instructions at this bit about declaring credit cards and loans. They put that under other supporting income - it's quite a absurd that they consider personal loans and credit cards as a source of income. It can only be an income rather than borrowing, if it's not going to get repaid. I wonder if they consider a student loan as a form of income...