ERUDIO student loans help

A question about : ERUDIO student loans help

HI,

My student loan has recently been sold to erudio student loans company. I currently defer my loan as I am below the salary threshold to pay it back. The letter states that erudio will supply details of my loan to credit rating agencies, something that has never been done before. There have never been any details of my student loan on my credit file. Will this adversely effect my credit score?? I know I am right to defer as I do not earn enough to start paying it back, however, I am worried that a 10k student loan debt that has not been paid off can only be a bad thing for my credit score

thanks

Best answers:

• Like the student loan company already do I think they only report the loan if you default.
• I have loans of about Ј4000. I know I should pay them but my earnings have never reached the threshold.
  I am now 60 and qualify for them to be written off. I have been in touch with Erudio, and they agree I meet the criteria over the phone, they say the computer shows the loan as written off.
  But my problem is getting conformation in writing.
  I have spoken to them on four occasions and have been told a letter is already in the post. They say they can't confirm it by email but no letter has arrived.
  Should I be worried ?
• I got a letter from them today and I'm very annoyed as I paid off my loan on 28th Jan this year. Now its probably all fine, but I've checked my bank and there is now a Erudio direct debit on there (which I've deleted) and after receiving the letter I feel the need to ring and just check that they are clear my loan has been cleared. Grhh.
• Be very careful people.
  It sounds like what Erudio are trying to pull off is this;
  Pre-1998 loans should be put on your credit record if they are in defult (this is in the terms and conditions)
  The deferment forms that Erudio send out state that;
  On page 5 (underneath Certificate and Warranty signature box):
  WARNING:
  In accordance with the terms of your original agreement We have the right to undertake checks to confirm you are eligible for deferment.
  Accordingly therefore, by submitting this application you confirm that you consent for Erudio to perform relevant checks at CRAs and Fraud prevention agencies.
  If your application for deferral is accepted, information that you have a deferred loan will be registered with CRAs.
  Erudio will argue that you have made a new agreement with them.
  People are more likely to pay (when even not entitled to) if they find outstanding loans effecting their credit report.
  This is just one example of their sharp practice along with asking for data they aren't entitled to.
• sorry about a mistake in the above post.
  Student loans should ONLY be put on your credit record if they are in default.
  Loans in deferment are NOT to be reported.
  Erudio are trying to trick you into letting them put loans that are not in default on your record is what I'm trying to say.
• This is a 99 loan agreement should say?
  Quote:
• As there is a debt collection agency behind this company I have no doubt they will try and get people to pay as much and as soon as they can.
• So clause 12 (b) stated that they will only pass on information to credit reference agencies if you break the agreement.
  It is clear as day in the T and Cs.
  Yet on the Erudio's derferment forms they are trying to get your consent to do this to people who haven't broken the agreement.
  THEREFORE I URGE EVERYONE NOT TO FILL IN ERUDIO'S DEFERMENT FORMS.
  It is clearly a trick to get you to sign a different agreement with them.
  YOU ARE HANGING YOURSELF IF YOU FILL IN AND SIGN THESE DEFERMENT FORMS.
• Erctheking, I hear what you are saying but I don't see the viable alternative. If you don't sign deferment then they will come after you for full payment and your CRfs will be affected anyway.
  Personally I feel sick that my SL has been sold off in this way. I had to go BR in 2007 and as a govt loan it could not be included in my insolvency. If my BR had happened now I wonder if things might be different?
  My CR is fine now and I loathe the idea it could be affected by this company just for deferment of loans should this really be the case.
• I'm not saying ignore them.
  I am saying send in your evidence as usual with a covering letter.
  Keep to the agreement by sending evidence you are below the threshold but ignore the forms they ask you to sign.
  This is the alternative
• unfortunatey when I called them to ask why I was sending sooo much information they said I had to. So this year that's what I have done I can ill afford them to find a way to make me pay.
• You don't have to.
  All you have to send is proof of gross income.
  Alll the rest is a con job to get extra info out of you they are not entitled to.
• Ok Eric see what you're getting at though they have no obligation to accept the letter and evidence as I see it and will demand you complete their forms to qualify for deferment. This being the case what would be the next step in your opinion?
• There is no requirement to complete their forms to qualify for deferment.
  You are entitled to defer if you can prove gross income is below the thresahold. Their is nothing in law or in the agreement that says it must be done via those forms .
  You can just write a letter if you want requesting deferement with the proof of gross income.
• https://forums.moneysavingexpert.com/...4920188&page=2
• Well my current deferment period is until 25th May. So I might just try what you say and see what their response is.
• That is the thing. They are trying to panic people into returning the forms and giving all that uncessary info and permission to mark your credit files.
  They desperatley don't want people to stop and think, "no they aren't actually entitled to that info", and "no you don't actually have to use their forms to make a valid legal deferment".