Erudio Student Loans Continued part 3

[erudioed]

I dont know if this is the right way to do it and i apologise if it isn't but this is the continuation of www.mumsnet.com/Talk/legal_money_matters/a2057131-Erudio-Student-Loans-Continued

The 1998-2011 loans are IC plan 1, which are linked to RPI, so a 2.5% increase based on the March figure.

Hi all, I'm having a nightmare with Erudio at the moment (asked questions on another thread) but I also have a question about when they are wiped.
I took mine out in 95/96 and have always deferred.
Info I found says 'debt is wiped 25 years from when the debt became eligible for repayment'.
Does that mean if I defer for 25 years they'd be wiped at the end?
If I do have to start repaying before the 25 years is up (which looks likely with the threshold falling), does that mean it would become 25 years from my first repayment??
I'm confused ...

My understanding is that your the debt becomes due for repayment the April after you graduate so a 1995 and a 1996 loan (assuming you graduated the following year - 1997) would be due to be repaid in 1998 so it'd be 25 years from then, regardless of whether you deferred or not. If you start repaying it is still 25 years from the first time you would have deferred that they are written off. Hope that makes sense :)

New FOI request about threshold change

Nice one!!!

Thanks Sarebear, that makes sense. I'm having a dispute with them over the new threshold at the moment.

It's gone like this:

1. April - received 'welcome pack' from Erudio, stating they are managing my deferment and would send new deferment forms when the next deferment was due.
2. August - No forms ever received. Got a call saying I'm in arrears and need to make payments to avoid defaulting. I said no, their oversight in sending my forms out wasn't my fault. Advised form would be sent out.
3. Last week - STILL no form so I sent a letter of complaint outlining everything that has happened so far. It also occurred to me that the threshold is changing as of 1st Sept, and I'll be just over it
4. Yesterday - form received. BUT the accompanying booklet states the new deferment threshold.

What I have done is send the form back, along with a letter stating I don't agree with changes to the original agreement, my original complaint letter, and another letter outlining all my dealings so far, and asking for confirmation that as my deferment was delayed through no fault of my own I would be considered against the pre-Sept threshold. I sent it recorded, so hopefully it should arrive today and I'll be able to prove they received it in August!

Not sure where I stand really, but will update when I get any news.

Did you send it recorded or special delivery? Because only special delivery is guaranteed to be delivered the next day.

Check to see if it has been delivered and print out the proof.

I hope it works out for you.

^yeah I agree - definitely print out the proof of date and time received. It was the only way I could argue they had received my pack at all - after using this proof they 'magically' found my forms!

Good luck - looks like you covered all bases but make sure you take it to the Financial Ombudsman if they don't play ball.

Not that i have used it but apparently there is some way of logging into a personal account on Erudio's website. As such, they should be able to create some software, being a multi-million pound company, that impregnates a deferment form with our personal numbers for us to print out if we dont get the forms in the post. Surely this should be mandatory considering how they keep lying or just plain dont know if they have sent forms out or not.
In Closerthanyesterday's case, the really suspicious could suggest they have delayed sending out the form just to make you pay because of the threshold drop. I am surprised they dont try and make everyone who has been deferred already reapply now because the year has elapsed.
Good luck though, figures crossed justice prevails for you.

They told me that as a disabled person there were alternative formats for the forms and I should have asked instead of paying for someone to fill it in. I've not been able to access them.

Not that I'm remotely surprised by this.

Personally I do not want them to go on line. It is far too expensive for me to print forms or anything else as I cannot connect a printer to my device (I've got to factor in taxis plus printing costs to get stuff printed). I certainly would not be trusting any of my personal information to their website.

I had thought they would hold off sending forms out in August to be honest, given their behaviour I would have been surprised if they didn't do that, they're untrustworthy and are doing everything they can to get money from people, hence me asking the question about our threshold being the only one being reduced and being reduced by such a large amount.

I hope the poster above managed to have theirs delivered on Friday though possibly that won't help as the deferral won't necessarily begin on Friday it depends on the processing time.

I've just found the following gem on their website:

deferment forms will not be sent automatically to people who have successfully applied for deferment. To reapply customers must request a deferment form seven days before payment is due

There is no way anyone will avoid having money taken next year. There is no way someone can apply for a form seven days before the end of a deferment period, receive it, fill it in and them then decide if someone qualifies in seven days.

I certainly won't be able to manage it. That means I will end up in arrears. A if I didn't have enough problems thanks to my 'payment holiday'. I feel really stupid for assuming they would send the forms to renew and in plenty of time not to mention worried.

This is going to catch out a huge amount of people, especially vulnerable people.

Where does it say that.

It still says in the FAQ.

Deferment forms are sent out 8 weeks before the end of the deferment period, however we recommend that you return your form as soon as possible to allow Erudio to process it in case we need to request additional information from you to complete your application.

Right. Found what you are referring to.

But there is nothing about them automatically sending a form to people under deferment that is about to end in the deferment section. It just says get it back to us in seven days. I can't find the bit that says to apply for a pack. Confusing. Maybe it's just me. Shouldn't all information about deferment be under deferment, not 'other questions' and where does the seven days come into it?!

Am v.v. Grateful if I am wrong about this!!

Apologies if I worried people

However, The DD section also says people must have DD in place to defer, I've been told is definitely incorrect and they refer to different thresholds in different parts of the site as well.

That's what I thought Erudioed, that they had delayed on purpose!

I've got the proof printed off that I did get my forms back in August - they did get there on Friday and I can't see how they can enforce the new threshold in view of that?

Especially since it isn't my fault they didn't send my forms. There was even a line in the original letter which said something along the lines of 'we will continue to manage your deferment and will be in touch before your deferment period ends'. Still got the letter somewhere.

I'm not holding my breath though, sure they'll think of something .. I'll let you know.

Hope it goes okay for you.

Mine says nothing about them contacting me about deferment. Then again I do have the helpful letter saying I don't need a DD if in deferment and then in the next sentence states if I remove it I will breach my contract so understandably I'm not exactly trusting of their letters!!

One thing that might help you is their website in the deferment section refers to the higher threshold not the lower one, whilst the lower appears only on the front page. Also the deferment application guide online has the old amount in it (and is different to the one they sent me earlier this year!!) did they send you the new application guide? Inconsistent public information is definitely going to be helpful to you should they assess you according to the lower amount. I wish I'd seen it earlier or I would have said to print off those pages. Unfortunately I can't do it for you because of the device I'm using, sorry. I expect it will be changed tomorrow morning.

@ CloserThanYesterday Not sure if you've seen this already, but under 'Recently asked questions' on Erudio's website:

"As is the case for all deferments reviewed by the Student Loans Company (SLC), deferment applications will be assessed by Erudio on the threshold applicable on the date the deferment application form is received".

www.erudiostudentloans.co.uk/faqs/default.htm

^ It's stated under "How is the new deferment threshold for 1st September onward calculated?"

i doubt they will have processed anything after the new threshold was announced, unless it is clearly under that threshold that is.

Just a heads up if no one has seen the MSE forum today, someone was told by Financial Ombudsman Service that all Erudio complaints on hold and that a decision about which direction to take (whatever that means) has been passe up the food chain at the FOS. If its right, this could be a very important time for us all to try and get this mess sorted out, just so we dont have be suspicious and guarded for the next 10 years they we will keep being hit by new tricks, lies and debt collector ploys.

Thanks Erudioed :-)

A new FOI reply for this one about Erudio/others reporting info to CRAs: www.whatdotheyknow.com/request/student_loans_and_credit_referen

FOI request back about dates that change to thresholds were calculated. In the attached correspondence it looks like Erudio (Arrow) were as surprised at the fall as we were and have questioned it.
www.whatdotheyknow.com/request/erudio_student_loans?nocache=incoming-557497#incoming-557497

Hi, I wondered if somebody could help please for somebody who doesn't have the time to read all the 3 threads of this.

Today I finally received the deferment from Erudio - who are obviously utterly useless. They did it with all the info I originally sent, despite saying they didn't have it, didn't have enough info etc.

But, the account is obviously in arrears now, because of them. The letter says it can only be defered for 3 months, but is there a way of over riding this when it's because of their error? The account is due to be written off next year so I realise this is deliberate on their behalf. Ho hum.

If it's down to there incompetence then write to them complaining about this and that you demand that you are given your full deferment.

Tell them that if they don't you will take them to the FOS to get it.

You can also say that you may issue court proceedings for breach of contract, requiring them to make the remedy or specific performance of deferring you correctly and writing off the loan at the correct time.

Thanks mandakl. Has that worked for others do you know? I sent and emailed them all the stuff back whenever they wanted it all. Then sent it all again spelling out they had all the info when they said they needed more info. So pissed off with them. Thought nobody could be worse than the SLC. But obviously with them buying the loan for 5p in the pound as somebody has said, this arrears is quite a bonus for them :(