Nearly 50. SLC/Erudio loan - wont age cancel! **WON PLUS COMPO**

[shaft65]

Hello

 

I came across this great forum whilst searching for information on my student loan predicament.

 

My student loans were from 1995-1999 and I was under the age of 40 when I left university.

I think therefore under the 'old' T&C's the remainder of my loan should be cancelled when I'm 50.

I have read however that if I am in arrears (which I am), this will not happen.

 

The reason I am in arrears is because Erudio claim they never received my deferment a couple of years ago.

Shortly after sending them my deferment form I moved address.

I informed them of my new address three times but they still sent any correspondence to my previous address.

 

This went on for months until finally I got a letter to my new address telling me that

not only did I not get my deferment granted but I was now nearly £600 in arrears as a result of them sending letters to my old address.

 

 

I was then involved in a lengthy email debate with them in which I argued that they had my email address all along so why wasn't I contacted via email?

 

As a gesture of good will they paid me £100 for my inconvenience!!

 

My question is,

am I still eligible to have my remaining loan written off?

If so, what is the best way to go about this?

 

Regards

shaft65.

[fkofilee]

If the arrears were caused by Euridos mis-managment then I don't see why you should be affected. I would expect for it to be written off but...

there maybe some technicality that I might be missing. Wait for other peoples advice.

[shaft65]

Thanks fkofilee.

[dx100uk]

do you mean SLC never got your deferment forms?

 

 

Erudio didn't take loans on until recently.

 

 

dx

[WindySock]

If the arrears were caused by Euridos mis-managment then I don't see why you should be affected.

 

If that is they are a result of solely that, then yes they should be without any condition.

 

If the OP did not, despite Erudio's mess ups, qualify for deferment, then the same applies except that they may need to make sure that any legitimate arrears are paid up to date on their 50th to qualify.

[shaft65]

Thanks for the replies dx, WindySock.

 

dx, it may have been SLC that I sent the forms back to,

I honestly cannot remember (I now have a 4 month old daughter so am badly sleep deprived!).

It was definitely the correct procedure though as I used their print addressed envelope.

 

at the time of deferring in April 2014, my earnings were below the repayment threshold.

This changed in September 2014 when I believe (from memory) they lowered the threshold and I was then eligible for repayment.

 

 

I had no problem paying the monthly instalments from September but argued with Erudio that I shouldn't have to pay any instalments between April to September

as they didn't change my address on their system. (See original post).

 

I have a feeling I missed a payment years ago when I didn't get my form in on time but cleared the arrears fairly quickly.

I have read however, that if you have ever been in arrears, they will not waive the remainder of your loan when you reach 50.

Other articles I have also read state that the age limit for a loan write off is now 60 not 50.

 

I would just like clarification of what the truth is and how I should go about trying to get the remainder my loan written off,

as I am certain, reading various articles about Erudio, that they will not contact me voluntarily to end my repayments!!

 

I am even willing to pay off my arrears if this will result in the loan being written off.

Although I do not want to repay my arrears if this will not result in the loan termination as £600 is a lot of money to me!

 

Thank you again for your replies, any further information or advice will be gratefully appreciated.

 

shaft65.

[WindySock]

You have heard wrongly. The law states that they must cancel the loan if at the time the borrower

 

- is not behind on any repayments under any agreement

 

There is no 'has ever been' in that, so if you catch up then they MUST cancel it.

 

That is assuming the whole loan has not been defaulted and terminated, but that can't be the case with yours as the arrears would then be the full balance of the loans and not the £600 you quote.

[Guest]

hi windy

butting in

do these regs, that you posted for me before, still apply?

http://www.legislation.gov.uk/uksi/1998/211/made

 

i ask, cause there seems to be new regs coming around (2012?), and the slc site doesnt seem to be too clear re those earlier loans http://www.slc.co.uk/services/loan-repayment/loan-cancellation.aspx

[WindySock]

Yes, they still apply to the old mortgage style loans. The 1998 regulations were the final ones made for that type, and are still in force today.

 

The ones in your SLC link are for the new type loans.

[Guest]

Yes, they still apply to the old mortgage style loans. The 1998 regulations were the final ones made for that type, and are still in force today.

 

The ones in your SLC link are for the new type loans.

 

cheers

[dx100uk]

right so this wasn't a couple of years ago it is recent.

 

 

might be worth your while an sar to SLC.

 

 

get the fact first before you do something detrimental witherway

never trust eruido!!

 

 

dx

[shaft65]

Thanks again for the replies chaps, apologies for the delayed thanks - hectic weekend!

 

dx, can you please explain what benefit an SAR request would be for me? I don't really understand!!

 

shaft65.

[dx100uk]

You need every scrap of paperwork

SLC hold

Prove your case

Never trust what a dca says or does

[shaft65]

Again, thanks for the advice dx.

 

Would my claim to have my loan written off have to be completed before my 50th birthday? Or would I just have to continue paying the instalments whilst I am trying to get this resolved - bearing in mind that according to the wording in the SAR draft, they would have up to 40 days to respond. 40 days would take me past my birthday.

 

shaft65.

[dx100uk]

I believe post 7 answers this?

 

 

the only outstanding Q I can see is making sure the Erudio were wrong to default you if they did?

 

 

hence the sar?

[Guest]

it seems more definitive info is required, conflicting posts?

[shaft65]

Thanks for the explanation dx. Ford, do you mean my posts are conflicting? Or others?

 

shaft65.

[Guest]

maybe i misread something, no worries ignore my post there

[WindySock]

Would my claim to have my loan written off have to be completed before my 50th birthday? Or would I just have to continue paying the instalments whilst I am trying to get this resolved - bearing in mind that according to the wording in the SAR draft, they would have up to 40 days to respond. 40 days would take me past my birthday.

 

shaft65.

 

AS long as it wasn't terminated and called in in full due to the arrears in the meantime, you could bring it up to date and get it cancelled even after the age you turn 50 date.

[shaft65]

Thanks for the replies again chaps, Ford , Windy. I think I will take dx's advice and send them a SAR. Do I need a postal order for the £10 fee?

 

shaft65

[Guest]

Ford , ....... a SAR. Do I need a postal order for the £10 fee?

 

shaft65

 

 

can do a PO, or a cheque, or...

 

if the current arrears werent your fault, then can get them reversed. you say they now accept that it was deferred, so it would be deferred up to your 50?

[shaft65]

Thanks for the reply Ford. I've finally got proof that I was under the repayment threshold when they put me in arrears last year. I've sent them proof of my earnings as requested. I've not had any reply yet!

 

shaft65.

[shaft65]

Hi again chaps

 

Well, they haven't replied to my email aside from asking my date of birth for data protection purposes,

which they did the day after I sent proof of my earnings

(for the disputed months of April to September 2014) on the 3rd of December.

 

I have however received two letters today... The first telling me that they have not received my monthly repayment and as such my account is now in arrears.

 

I have checked my bank account and I have not missed a payment since I became eligible for repayment

following the lowering of the payback limit in September last year.

My payments have left my bank account on the 10th of each month without fail.

 

The second letter, gives an account breakdown and they have charged me £72 in General Account Fees!!

On the repayment breakdowns that they sent it even shows my repayments received on the 10th of each month.

 

The letter they sent me was dated 7th of November saying they hadn't received November's payment - Unbelievable!!

 

I wanted to contact them and let off some steam but thought it wiser to once again ask for your experience in how best to deal with this.

I am very conscious that with every passing month I am paying out the best part of £200

when I shouldn't have to as I am now passed my 50th birthday.

 

Any advice as always will be gratefully received.

 

Regards

shaft65.

Edited December 14, 2015 by shaft65

[WindySock]

Complain about the arrears and fees that are due to arrears that should not have existed or been applied?

 

Complain that as the arrears and fees are not valid, then Erudio should have already cancelled the loan.

 

Tell them you will be going to the FOS and reporting to the FCA if they dont sort it.

[dx100uk]

great post

 

 

dx