Erudio - new Student Loans deferral/debt collection agency
Creamtea
Posts: 14,682 Forum Member
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Erudio. Has anyone else had their student loans sold to this company? My final loan (98) has been sold to them (found out through SLC). But have received nothing from them. I have phoned them four times over the past couple of weeks or so, only to be told that the deferral forms will be sent out to me ASAP (still takes up to five business days to arrive though apparently) and still nothing. As the loan period ends on the 14th April I am now getting stressed that it won't get deferred in time. I have always been on top of this in the past and never had any problems defering with the SLC. To me this new company seem to be deliberately obfuscating. Also having looked online at a couple of other forums on the subject it and it seems they use some very suspect means to try and retrieve money. Has anyone else dealt with them? What happened? Was all ok?
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Got my deferral form through. Lot longer than the old one, and they are wanting extra evidence. Seemingly you don't have to provide anything more than you did for SLC, as T and C's shouldn't have changed.
My main issues are:
Evidence of child benefit - they want a recent letter, or bank statement showing it. Child is 8, so no recent letter. Bank account is joint, and contains a hell of a lot of data they dont need (hubbies wage, etc). Thinking they will get a photo copy of a bank statement, with everything blacked out except my name and address which they already have, and the one line of child benefit, but with account balance at end of line blacked out.
P60 - they say they want latest p60 as well as last 3 wage slips. Thing is this time of year my latest p60 is for 2012/13 financial yeal, which deferment for last year was based on, therefore it isn't relevent for this years deferment, so they won't be getting that.
They also ask whether you own or rent your house. As this is an unsecured loan that is irrelevant.
I don't trust them at all, and my deferment form will be going in with a covering letter quoting data protection in relation to the excessive collection of data, and quoting original terms and conditions of the loan.
I haven't signed and returned the form about it appearing on credit rating, and will be including in my covering letter that I don't consent to it, as it is a change in the original T&Cs.
It does concern me that they will refuse my deferment, but I am willing to fight it, and I am keeping the direct debit details with my old bank account, which is still open, as I don't want them being able to take out of my everyday current account, and it will limit the amount they can take.
You have always had to supply DD details to SLC, but yes, I don't trust them either.
Everything will be going recorded delivery too, so they can't claim not to have got
You may find this site helpful, as to what you are obliged to tell them and what you aren't.
http://www.legalbeagles.info/forums/forum.php
It's best to get advice.
http://www.legalbeagles.info/forums/showthread.php?44879-Arrow-Global-consortium-buys-Student-Loan-debt-of-%A3900m-for-%A3160m&highlight=erudio
I saw this mention on the money savings forum:
"Hi everyone!
As erudioed above has mentioned, the Guardian newspaper would like to talk to anyone effected by the sale of student loans to Erudio. If you’re happy to share your story and willing to be photographed please email emmalunn2002@hotmail.com"
It might be worth getting them to look into this for you? At the same time, you may help many other people who are in your situation.
http://forums.moneysavingexpert.com/showthread.php?t=4923210&highlight=erudio&page=24
I'll re post it then. Still not got my deferment forms from Erudio, despite numerous calls to Erudio asking them to send it so I could get it sorted and then saying it's being sent out My two loans with the student loans company have been deferent as usual, no problems. This outfit is obviously a complete shambles, and I'm annoyed they'll probably take money off me once I do finally get my forms and send them back while they try and get around to deferring me.