Eurido again.... Can I claim for time wasted?

[axil23]

Looks like they can advise the credit agencies....

 

Who has them? Those who started higher education between 1990 and 1997.

 

Loan type: Old style "Mortgage" type Current interest rate: 2.5%

 

How the interest rate is set: It is set for a year every September based on the rate of RPI inflation the previous March - though the actual rate is only officially confirmed each August. (If you're new to interest rates see our Interest Rates Beginners Guide).

 

Number of outstanding loans: 300,000 (at April 2014)

 

How you repay: You must make repayments if you earn over £26,727 per year - though you can pay before that, if you wish to.

 

How you actually pay it: You are responsible for paying it directly to the Student Loans Company, by direct debit, card, or cheque. See full details on Student Loans Company payment page.

 

The impact on credit files: While having the loan itself doesn't impact your score, it can have a substantial impact if you're a late payer or miss a repayment.

 

The Student Loans Company will write to all late payers, giving 28 days to make contact or it will go on your credit file (see the Credit Rating guide).

 

Can I defer payment? Yes, if you earn under £26,727. You need to write to SLC (or the debt management company administering your loan) once a year to do so, supplying particular documents - see Student Loans Company for details

[axil23]

For pre 1998 loans they are well within their rights to do so.....

 

http://www.slc.co.uk/media/758479/foi_response_76-14.pdf

[dx100uk]

you are panicking about nothing.

 

 

nowhere does it say they 'will' or evidence they have.

 

 

dx

[axil23]

you are panicking about nothing.

 

 

nowhere does it say they 'will' or evidence they have.

 

 

dx

 

You are right. I have A1 credit so really don't want any stamps on it. The link above your post from the slc website states that pre 1998 loans can be reported.

[dx100uk]

but only within limited criteria.

 

 

there are no reports of these being actually reported.

 

 

with drill thru 31 post

 

 

have you signed that rodeo deferment form and ever sent it back?

 

 

dx

[axil23]

have you signed that rodeo deferment form and ever sent it back?

 

 

dx

 

Yes.... Before I came across this site and saw what they were really up to.

[dx100uk]

theres your problem then.

 

 

you've signed your rights away.

 

 

now its a game is chess with them.

 

 

did you copy their deferment form before you sent it back?

 

 

dx

[axil23]

theres your problem then.

 

 

you've signed your rights away.

 

 

now its a game is chess with them.

 

 

did you copy their deferment form before you sent it back?

 

 

dx

 

No I did not. I honestly didn't realise they would be such a bunch of crooks. Shall I just start to pay it back?

[dx100uk]

need to see a copy of the BLANK Erudio deferment form

its here or on mumsnet somewhere

but I cant find it.

 

 

dx

[AndyOrch]

[ATTACH=CONFIG]54693[/ATTACH]

 

[dx100uk]

why do they keep stating

if you borrowed from us we may ...[when no-one has borrowed ANYTHING from Arrows.

 

 

and the killer......

 

 

consent to share data on up to date account opened in or after 1998

 

 

surely anyone that has a SLC loan sold to them were ALL before that data.....

 

 

or

 

 

are they implementing a clever play on words here

 

 

by 'account' they simply mean the fact 'the debtor is 'with' Erudio

so whatever info they hold they can register...

 

 

urm wonder what they authorities will say about that ambiguous statement?

 

 

me think they can never register ANYTHING about the old loans the have AT ALL...

 

 

dx

[brassnecked]

why do they keep stating

if you borrowed from us we may ...[when no-one has borrowed ANYTHING from Arrows.

 

 

and the killer......

 

 

consent to share data on up to date account opened in or after 1998

 

 

surely anyone that has a SLC loan sold to them were ALL before that data.....

 

 

or

 

 

are they implementing a clever play on words here

by 'account' they simply mean the fact 'the debtor is 'with' Erudio

so whatever info they hold they can register...

 

 

urm wonder what they authorities will say about that ambiguous statement?

 

 

me think they can never register ANYTHING about the old loans the have AT ALL...

 

 

dx

 

It looks like Erudio have shot themselves in the foot, as all these loans are PRE 1998, if the official as in a tested in court view is that the loans are all prior to the date stated, then signing the form gives Erusdio NO permission either explicit or implied to give information to a CRA or anyone else.

 

It could be that Erudio think that by signing their dodgy deferment form it somehow converts the loan to a POST 1998 income contingent one. so allowing them to apply the lower threshold of £16.9K or so for deferment purposes rather than the £28.7K, reduced to £26.7K from September (see: http://www.moneysavingexpert.com/news/loans/2014/08/student-loan-deferment-threshold-to-fall-qa-on-why-its-happening )

 

They would probably try that wheeze a couple of years down the line, after all their "customers" have signed the dodgy deferments, and they think they can get away with it

 

Or it could be that they as you say DX are trying to be clever. Whatever this needs looking at. Another angle could be that Escrewdio are anticipating buying up some post 1998 loans in the near future. What aren't you telling us Gideon Osborne?

 

With any luck this could bite them on the bum.

[axil23]

why do they keep stating

if you borrowed from us we may ...[when no-one has borrowed ANYTHING from Arrows.

 

 

and the killer......

 

 

consent to share data on up to date account opened in or after 1998

 

 

surely anyone that has a SLC loan sold to them were ALL before that data.....

 

 

or

 

 

are they implementing a clever play on words here

 

 

by 'account' they simply mean the fact 'the debtor is 'with' Erudio

so whatever info they hold they can register...

 

 

urm wonder what they authorities will say about that ambiguous statement?

 

 

me think they can never register ANYTHING about the old loans the have AT ALL...

 

 

dx

 

Mine was opened in 1996. But haven't the pre 1998 account holders consented all ready http://www.slc.co.uk/media/758479/fo...onse_76-14.pdf

[dx100uk]

link is dead?

 

 

dx

[axil23]

link is dead?

 

 

dx

 

This is what it says. Link http://www.slc.co.uk/media/758479/foi_response_76-14.pdf

 

Request Reference: 76-14

Date of Response: 06/05/2014

Request

“A copy of the conditions associated with student loans taken between 1995 and 1998 (under

the Education (Student Loans) Act 1990). In particular I wish to understand the provision that

was either made at the time, or has subsequently been made, to pass information regarding

student loans to Credit Reference Agencies and how this was highlighted to loan applicants.”

Response

I can confirm that the information you have requested is held by the Student Loans Company

Limited (“SLC”).

Student loans taken out between 1995 and 1998 under the Education (Student Loans) Act 1990

are known as fixed term or Mortgage Style (“MS”) loans, and were taken out under the

provisions of the Regulations made under the Education (Student Loans) Act 1990, which can

be found at the following internet link:

http://www.legislation.gov.uk/title/education%20student%20loans%20regulations?page=5

(please refer to the Regulations, including amending Regulations, made between 1994 and

1998)

All MS loan borrowers entered into Consumer Credit Agreements (“CCAs”), containing the

terms and conditions of their loans. I have attached copies of the CCAs below, one for MS

loans taken out between 1995 and 1997, and the other for MS loans taken out in or after 1998.

The provisions relating to passing information regarding MS loans to credit reference agencies

are contained in specific clauses of the CCAs, which all borrowers have read and signed.

The specific clause in the pre 1998 CCA that allows information regarding the loan to be passed

to credit reference agencies is clause 16, whereby any information relating to the agreement

can be disclosed to another party where this is deemed appropriate.

The specific clause in the post 1998 CCA that allows information regarding the loan to be

passed to credit reference agencies is clause 12 (b), where the borrower has broken the

Agreement.