Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

Original poster

erudio student loans

999 replies

mrsbug · 17/03/2014 17:37

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 Smile)

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?

OP posts:
Thread gallery
8
bobsyouruncle · 06/04/2014 23:21

I was late deferring once with SLC (I'd just had dd and blame serious sleep deprivation) and they took a payment from my account and refused to pay it back even though they then accepted my deferment. So I'm guessing Erudios will say no too.

erudiospicious · 06/04/2014 23:24

Thank you Mandaki, but I am still worrying about the out come of this all
And like Simonpimpernel says, I never have for many year set up DD bank details, so Erudio don't have them as well as SLC didn't, eventhouth in the former SLC forms said it MUST be stated, and of any changes of bank details.... so would like this, like also to be a breach of my terms and conditions... worrying but uncertain

Nyckelpiga · 06/04/2014 23:51

Thanks Bobsyouruncle. Maybe I was wrong. I thought those nice people at the SLC gave me the cash back. Very difficult to remember now.

@erudiospicious No need to worry. You can still call up Erudio and just give your DD details over the phone. I did and as long as you do that a couple of weeks before they are scheduled to take payments then you are absolutely fine. No need to loose sleep.

If you have the right phone package from BT or know anyone who does then calls to the 0845 number are free at weekends. You just pay £2.00 per month.

I think I saw someone posting from Aberystwyth on here. That was my university too. Wish I was back in those carefree days. lol

EmmaBemma · 07/04/2014 06:36

ah, thanks Ichibod.

emptycoffers · 07/04/2014 07:33

@ simonpimpernel

In your position I wouldn't continue worrying about what I had and didn't have with SLC.

Like all of us, you need to focus and deal with the situation we are all being presented with now.

You say you have no DD inforce with Erudio. Look at the deferment form, page 2 and the guide book - - it outlines that they expect you to arrange a means of them getting money - a Direct Debit OR an alternative.

I am not a lawyer - I am not TELLING you to do anything.

I would advise anybody not to be in a position where they can inadvertently be accused of breaching the agreement.

A DD in force or an alternative is not permission for Erudio to take money.

FOCUS ON THE ONLY IMPORTANT QUESTION:

ARE YOU ACTUALLY EARNING LESS THAN THE DEFERMENT THRESHOLD?

If you are earning less - then you will be deferred regardless of DDs or anything else.

If you are earning more - you will have to repay - regardless of DDs or anything else.

If you choose to telephone Erudio and do as they say - that is at your own risk - I wouldn't do so.

mandakl · 07/04/2014 09:13

All my deferment forms from SLC had a change of bank details section at the bottom. It's a standard form. Suppose it's possible that if somehow you had been marked on your SLC accounts as someone they had accepted who would make different payment arrangements - other than DD - which is acceptable under the T&Cs IF they agree - then you had a different version of the form sent or printed? Just a possibility.....

MissMe · 07/04/2014 09:28

I've had a letter from Erudio for a loan which I paid a settlement figure for in 2009.

However, I did manage to wangle an ordinary number out of them, which I thought I'd share, being fed up of this 0845 business!

0113 3189010 is a straight number, gets to the same options.

To be honest, I think this is the first time I've heard of Erudio and don't remember having previous paperwork from them about the sale or anything, so I'm concerned as to how they got my details.

Hopefully I'm hearing back from someone today, but thought sharing the number might save some people some pennies!

emptycoffers · 07/04/2014 09:43

@ mandakl

Exactly - all of the SLC communications will be standardised.

If people were getting forms or letters where they clearly noticed there were no bank details printed then they must also have also surely noticed the requests that came every year with the same annual statements and deferral forms asking them to keep their bank DD details up to date.

So, at some point, people consciously chose not to bother updating those bank details or they originally reached a different repayment arrangement with SLC.

In any case, it's something only the individuals involved can answer for themselves.

IchibodT · 07/04/2014 10:01

I wouldn't worry about the Lack of DD, if that concerns you then just complete the DD mandate on Erudio's form and send it in with your application. Even if you don't want to use the rest of their form just copy the DD mandate, complete and return with your preferred deferment option.

Whether or not you have to have a DD setup to be in compliance with the original T&Cs I'm not sure, but if you provide a DD mandate then Erudio cannot complain. And if it turns out Erudio wish to refuse deferral when you are fully entitled to it, it is easy enough to cancel a DD especially if you have internet banking.

Of all the things to worry about refarding Erudio this isn't one and can be easily resolved.

JaneinReading · 07/04/2014 13:13

It is not a requirement of English law to have a bank account and plenty of people don't have them.

Powerpooh · 07/04/2014 14:23

There's lots of what if this what if that etc. People asking about DD's. Someone said earlier the objective is to get a deferment on these loans if you are entitled. My question.......

has anyone successfully had their loan deferred by Erudio yet?

Maybe this would give a glimmer of hope to the rest of us stuck in the middle of this mess.

Moraki7 · 07/04/2014 14:26

Hi all,

Been following this thread with fear!
I have been in contact with erudio since beginning of March regarding getting a deferment form. I have phoned and had three forms sent out on separate occasions (apparently!) Last phone call was on Friday in which I was told not to worry (yeah right!) and another form would be sent and could be scanned and emailed for faster deferment.

Anyway, this morning I receive a deferment letter from SLC, dated 17th March.
I phone them up about it and they basically said that because my 95loan has been bought by thesis and my 97&98loans by erudio , SLC will still be in charge of processing my deferment.

Anyone else in this boat? I am hoping it is true as I would much rather deal with SLC but am still not convinced.

My deferment ends on 19april and I have phoned thesis to let them know and have had my account frozen, erudio told me in a phone call my deferment date would be moved til 19may.

Just wondering if anyone else has had a letter from SLC, it's a HUGE mess!

mandakl · 07/04/2014 14:37

Did SLC says they were in charge of deferment for both sets of loans then? Or just the Thesis ones?

When I spoke to SLC I was told they would carry on doing the deferment for the loans sold to Thesis, but that Erudio would take over the deferment of the ones sold to them. Possible the person who I spoke to could have been mistaken though. Would be nice if it was true that people with loans split between Thesis and Erudio had them all still done via SLC.

JaneinReading · 07/04/2014 14:38

I would certainly advise that people confirm all calls in writing by letter sent by special delivery in case disputes arise later.

EmmaBemma · 07/04/2014 14:42

Moraki - yes, me! scroll up a few posts. SLC are handling my deferment for all four loans even though one was sold to Erudio.

Moraki7 · 07/04/2014 14:47

They said yes ( I got transferred to someone in their payment office), because basically my thesis loan was not taken over by erudio that SLC would still be in charge of processing my deferment.
The letter I received writes my thesis loan plus my two erudio loans at the top too.
I never received any correspondence from SLC or Erudio with regards to the take over but the guy said a letter had been posted on 22feb.

I will post this deferment back to SLC as it clearly states my three loans and if I hear any thing from Erudio I will get in touch with them too.

Moraki7 · 07/04/2014 14:53

Hi EmmaBemma....don't know how I missed that! That's great if you have your deferment accepted in writing.
I think that if you have a previous thesis or honours loan SLC are still processing as normal......although it's taken me a month of chasing my tail to find this out.

My only worry is erudio will send me a deferment form...??

mandakl · 07/04/2014 14:53

Sounds like people who have loans sold to the 2 different companies may sidestep this whole mess then? Good news for a small subset of people if that continues to prove true. :)

Does not diminish the utter crapfest the rest are having to put up with though. Angry

mandakl · 07/04/2014 14:58

@Moraki7 Would not be surprised if Erudio send one, as I don't think they are at all organised and may send them even when they shouldn't.

There must be some contact or written agreement or terms of the loan sale, setting down who is to have legal responsibility for process deferment in what case? Might be worth trying to see if that or the info in it can be got into the public domain?

Moraki7 · 07/04/2014 15:03

Sorry mandaki, it is an absolute shambles and I totally agree. Until I have a confirmation of deferment from SLC I will not rest easy.

Moraki7 · 07/04/2014 15:07

You would think in the letter SLC sent out to confirm the takeover, everything like this have been explained, I got no letter, but the guy today told me it was 8 pages long, he's looking into seeing if I can get another one sent.

Also on erudios website it does say if you have a thesis or honours loan you would deal with these companies separately.

It is all confusing to me!

waitingforgoddot · 07/04/2014 15:29

Dear All,

Please can someone explain to me whether Euridio (or any other organisation) have any facility to 'register' an unpaid debt with a credit reference agency without obtaining a Court order first?

IchibodT · 07/04/2014 15:37

@^^

I had a CC default registered with all 3 CRAs without ever going to court, it was for a fairly low amount, was repaid in a month but stayed on file. That's a default, as far as I'm aware you don't need to go to court to have this done.

Registering deferrers that's another matter entirely.

mandakl · 07/04/2014 15:43

Correct. A default is nothing to do with the courts and does not require their involvement.

Qubit · 07/04/2014 16:01

@waitingforgoddot

If in default yes. I dont know about a deferred loan. I called one of the CRAs and spoke to an operative there. He said that in 6 years he had never come across mention of a deferred loan on a persons file.

Obviously that doesnt mean it isnt possible but i found it interesting.

Swipe left for the next trending thread