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?

Quote: Thanks mandakl

Like you, would urge as many people as possible to email:

[email protected]

with confirmation that much more data is being requested by Erudio on threat of deferment being denied if data is not provided.

Yes. And that they are trying to trick people into letting their defered loans be reported on credit reports, where that is not allowed under the original loan agreements.

That's good about Paul Lewis. I've also had a second email from erudio requesting confirmation of my details in order to deal with my query. This is the same information I gave them nearly two weeks ago to deal with the exact same query. In other words - they don't want to put anything in writing and are avoiding doing so.

Just wanted to add - those of you who have pointed out the issue regarding signing the Fair Processing Notice - I told Erudio when I first received notification that my loans had moved to them that I would not sign any form that gave them permission to share my information with CRAs so deliberately didn't send it back. Then I got my deferment forms and discovered they will share my information if I sign the deferment form.

I maintain that I'm not signing anything that I don't want to give them permission to do. I've written a letter this evening largely based on what someone posted earlier with a few amendments. Mine will be going out soon and my DD remains cancelled as Erudio have continually failed to respond to my communications regarding the issues I had. I'll post the email I sent them but be warned, it's long..... It was sent over two weeks ago and they've asked me twice to confirm who I am so they can deal with my query. I confirmed my details with them some time ago and they have asked me to do it again! The incompetence is something else.

Email coming up.......

I note that you have indicated you will only contact credit reference agencies if I am to default on my loan. However, this is not what your documentation states - it indicates that you will notify CRAs if I defer my loan as well as if I default. This is a change to the original terms and conditions and I am not willing to sign anything that changes this original agreement.

Also, you have recently sent me a deferment application and a temporary payment arrangement form.

I have some questions and due to your contact number being an 0845 number I am unable to call this from a mobile.

Deferment
Firstly, I would like to know how you have calculated a monthly repayment (for account number XXXXXXXXXXXXXXXXXXX) as £XXX.XX when the previous arrangement with the Student Loans Company was £XXX and the amount of £XXXX.XX to be paid over a 60 month period would actually make it £XXX.XX a month. I would like to know how you have calculated the amount I owe as this does not match the original agreement with SLC. Your deferment application also asks for more information than was ever requested by SLC including requests for information about my savings. Legally I am only obliged to give you three months payslips or a statement of earnings which confirms I am under the threshold for repayments. According to the Education (Student Loans) Regulations 1996, details of my savings are not relevant to a deferment application.

In accordance with the regulations I can provide evidence that:

• 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 shall not be completing the form provided by yourselves as it requests private, personal or other data that is not relevant to the above deferment conditions. I note that there is no requirement in the legislation or agreement to apply for deferment in a given format or on a specified form.

Temporary payment arrangement form
I am under the threshold required to start repaying my loans but, I am prepared to pay a maximum of £XX a month in order to repay these loans but your form says this is a temporary arrangement so I would like to know if you would change the agreement at any point following an agreement to accept the offer of £XX a month.

I would appreciate a speedy response to this query and I have cancelled the direct debit on my account for Erudio until you can clarify the answers to these questions. Once I have some written assurances from you I will arrange to make sure any agreed payments can be paid by direct debit to Erudio.

I have just sent an email to paul Lewis. Hopefully this story witll get carried forward.

I agree with halfprice re signing anything they have sent out. I'm too scared in case I inadvertently sign something I shouldn't have and I end up getting reported to CRAs etc. In fact ii didn't physically sign my letter either I typed it on the computer. Mrs x xxx incase they tried to "lift" my signature and use it at a later date. We have to remember this is a debt collection agency snd they will tey anything to get their money back.

I am yet to cancel the DD erudio have set up on my account in case they refuse my deferral.

Its a very worrying time, my letter was delivered and signed for today and I have the name and signature of the person who signed for it. All I can do now is wait and see what happens.

Paul lewis has just tweeted that it will be on bbc breafast at 6.40am and 8.20am tomorrow about Erudio and deferrals.

Not saying the BBC are the be all and end all but looks like someone is listening to us.

From Paul Lewis tonight, so twaater him now if you can:

On @bbcbreakfast 0640 and 0820 about Erudio student loans and the forms being sent to people deferring. Tweet me if you are one & puzzled

right, mail off to Mr Lewis, i hope he sees it before tomorrow. I felt a little background on Erudio might help the chat and widen things out to BIS a little.

I'm the @amy if anyone has looked at the Twitter for Paul Lewis.

our second reach out into the world, lets hope we get some answers or Erudio to explain themselves and the shambles of their underprepared call centers. I want to see Mark Filer asked about it, draw him out from his rock into the real world and be accountable for how hes directing his operation and the stress hes caused us lot who have been living with it for the last month or so.

Thanks Janeinreading, I have altered the passage you mention to say I would be looking to recover any damages rather than not be held responsible for payments. Although if they break the contract, surely that does release me from owing on it?

It'll be away tomorrow anyway, I fully expect a response saying I haven't provided enough information, and then I will start the complaints process, Complain to the BIS, FOS and FCA in turn - I have already written to my MP by Email, Ironically my MP is Danny Alexander(!) and pointed his attention toward this discussion.

Fab news I hope about BBC tomorrow. Will wait to see how story portrayed as I agree with others that I don't think the newspaper article really expressed (or wasn't clear) in the difficulties people are having.
After almost a week I have had a failed reply re email sent to MP almost a week ago. Strange as I got address from gov't website.
Have had an email from Treasury Dept to say that email has been received and is receiving attention?
No response from NUS as yet????

i didnt get the reply i was told would arrive from NUS yet

Paul Lewis duly emailed :)

Hello All, Just to keep you updated on my plan of action. I have complied a letter much the same as Knaveofwands and also included my application form with the relevant parts blacked out.

To those sending in the application form as well as covering letter have you signed the form under section 9 agreeing to a) and b) but blacked out the Fair Processing Notice?

I will be watching the BBC news report tomorrow before making my final decision to send of as planned.

My deferment ends on 19th May. I hope by sending via recorded post I will have allowed myself enough time receive word about my deferral.

I will keep everyone updated with any response I receive.

Thanks so much for everyone's help!

compiled not complied!

Just a question of seriously and how much he goes into the concerns here. I've seen him fail to deal with the more critical and controversial aspects of things in his BBC Breakfast reports, in favour of a middle of the road safe option that almost parrots the official line from companies.

The reports he does on his blog and to a limited degree moneybox are much better and attack the issues more for a consumer.

I just fear he hasn't had time to read all the reports sent to him before he goes on breakfast in the morning.

Well I wasnt impressed by the first part of his report on BBC this morning. The next part might be better.

ditto, it is a shame they only allowed the guest time for a sound bite. At least we will hear Erudio's reply later, although i feel it will echo what he has already said. Was the guest one of our very own, they were brave to go on tv at such an awful time.

As I feared then. :(

Bet Erudio will say they have done nothing wrong and are withing their rights to do what they have been doing, when we all know that is complete and utter bull.

Soooo, I had a letter yesterday from Erudio stating they needed more documents for deferment and a missed call from them.

Unfortunately I didn't read this blog before i sent my deferment form off, so I sent three months wage slips and 3 months bank statements as i rang them to tell them i couldn't find my p60 and this is what they advised.

the advisor that i spoke to said that letter had been sent in error and they were phoning to say that my deferment application had been successful and that a letter would follow confirming. I told him i wanted to make a complaint re registering my deferred loan with CRAs and he said that my deferred loan information would not be given to CRAs, that nothing on my credit file would show any details about my loan and that the only time my loan would be registered with CRAs is if it defaults on payments. He also confirmed that signing the deferment form did not agree to any changes in the terms and conditions of my loan, or the deferment of it.........

I have asked for all of that information in writing and he said they would write to confirm..............

Is it possible that he is telling the truth and that the wording on the forms is just to scare people into paying back the loan early?? I guess only time will tell when we all check our credit files in the next couple of months.....

I'm tired of worrying about this, lets face it, we're all law abiding citizens, probably with good credit scores etc etc, suddenly having 10k of debt connected with a debt collection agency is bound to put the willys up us.........is it possible that they are telling the truth?? I don't know :-(

I would say either (a) that advisor is mistaken or fibbing or (b) it could be a 1st sign of Erudio doing a u-turn?

I would hope for (b) but given their record (a) seems the more likely so far.

@tazfrank1

Sounds like good news for you, you were correct to ask for written confirmation. Hopefully that's one if us that can put this behind us for a year or so.

Report on next on BBC Breakfast apparently...

Can someone update us as to what happened on the BBC. I had to leave for work at 8 so I've missed the other two segments. Thanks in advance..