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Hi,
I would really appreciate advice from anyone who has had a similar problem or is knowledgeable about SLC & Erudio and their policies/processes.
Background:
I took out a student loan with SLC in 1997. My last payment from them was in January 1998 as I did not complete the course. The loan totalled around 1k. I never deferred the loan or paid off any of the debt and at the last count (around 2012) I still owed the debt and had accrued around £800 arrears. Fast forward to 2021 and I now wish to pursue an MA. I applied for student finance but was unable to secure it as I have a flag on my account due to arrears from this 1997 debt.
I contacted SLC and asked how much I owed and how much the arrears are now? I was informed that I will have to contact Erudio for all account information. I am happy to do so but I would like to have a bit more knowledge before I do, as I gather that Erudio are not a very nice company to deal with!
Please note: I do not have a copy of the original loan agreement and I do not know what the status of the account is with Erudio. They have never contacted me since the debt was sold in 2014. SLC have my current address but I have never had any correspondence.
What I would like to know is:
1.If I contact Erudio by telephone will I start the clock ticking again on what is a statute barred debt?
2.Will I be able to pay off the arrears and leave the original debt still owing and then defer on the original debt?
3. I have read that old-style student debt that I have is written off after 25 years - will I be able to have this debt written off once I have cleared the arrears? ( I earn under the 28k threshold & Sept 2022 will be 25 years from the date that I had the first loan payment
4. If I send the SLC a SAR, will they still have details of the original debt and how much I owed when it was sold to Erudio?
5. Once I have paid off the arrears/loan, how long does it take for the flag to be removed from my SLC record so that I can then access further student finance?
I appreciate any advice regarding this matter.
Thank you for your help and let me know if you need further information.
BW
I would really appreciate advice from anyone who has had a similar problem or is knowledgeable about SLC & Erudio and their policies/processes.
Background:
I took out a student loan with SLC in 1997. My last payment from them was in January 1998 as I did not complete the course. The loan totalled around 1k. I never deferred the loan or paid off any of the debt and at the last count (around 2012) I still owed the debt and had accrued around £800 arrears. Fast forward to 2021 and I now wish to pursue an MA. I applied for student finance but was unable to secure it as I have a flag on my account due to arrears from this 1997 debt.
I contacted SLC and asked how much I owed and how much the arrears are now? I was informed that I will have to contact Erudio for all account information. I am happy to do so but I would like to have a bit more knowledge before I do, as I gather that Erudio are not a very nice company to deal with!
Please note: I do not have a copy of the original loan agreement and I do not know what the status of the account is with Erudio. They have never contacted me since the debt was sold in 2014. SLC have my current address but I have never had any correspondence.
What I would like to know is:
1.If I contact Erudio by telephone will I start the clock ticking again on what is a statute barred debt?
2.Will I be able to pay off the arrears and leave the original debt still owing and then defer on the original debt?
3. I have read that old-style student debt that I have is written off after 25 years - will I be able to have this debt written off once I have cleared the arrears? ( I earn under the 28k threshold & Sept 2022 will be 25 years from the date that I had the first loan payment
4. If I send the SLC a SAR, will they still have details of the original debt and how much I owed when it was sold to Erudio?
5. Once I have paid off the arrears/loan, how long does it take for the flag to be removed from my SLC record so that I can then access further student finance?
I appreciate any advice regarding this matter.
Thank you for your help and let me know if you need further information.
BW
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