ERUDIO student loans help
Comments
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just got my p60 through in the post i wonder if that is ok to use as proof not keen on sending my bank statements to be honest
I send my bank statements but pretty much everything is blanked out apart from the relevant numbers - no details of that account number/sort code/running totals/anything irrelevant is also blotted out - I also blot out details of the transaction as they don't need to know what it was, just the amount of money it is for.0 -
I've had an email from a FOS adjudicator, advising they cannot consider my complaint against Erudio, as Erudio no longer falls under the jurisdiction of the Financial Ombudsman Service since its independent FCA authorisation lapsed.
FOS have advised they no longer consider complaints against Erudio for events that have happened after 18 August 2016 as they no longer have the authority to do so.
Doesn't seem right.0 -
Holy moly, that's a big change.0
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Dear GinOClock
Thank you for contacting us about your complaint about Erudio Student Loans Limited.
We deal with a wide range of complaints about financial services - but unfortunately, from the issues you've raised, it doesn't look like your complaint is something we can look into. This is because the business you've complained about isn't covered by the Financial Ombudsman Service.
Erudio Student Loans Limited's membership with the Financial Conduct Authority lapsed on 18 August 2016, so we're unable to look into problems which happened after that date. From the information you've provided, I believe the problems you've experienced with Erudio Student Loans Limited happened on xx/xx/xx. Because this is after the date Erudio Student Loans Limited membership lapsed, we're unable to look into this for you as we don't have the authority to do so.
I'm sorry we're unable to help you on this occasion.
Kind regards,
XXXX XXXXX
Investigator0 -
So who the hell can we complain to about them? Or do we complain about the parent company as they are the ones with the FCA licence?
e: Hang on a sec, I have a complaint lodged with Erudio at the moment and they sent me an FOS leaflet in case I don't agree with the outcome of the complaint, so they clearly still think the FOS cover them.0 -
So who the hell can we complain to about them? Or do we complain about the parent company as they are the ones with the FCA licence?
e: Hang on a sec, I have a complaint lodged with Erudio at the moment and they sent me an FOS leaflet in case I don't agree with the outcome of the complaint, so they clearly still think the FOS cover them.
Yes, I received the same leaflets. I had thought Arrow Global's authorisation covered this.
I've asked Erudio and FOS for further comment but not heard anything back from either party.
But it's a heads up for anyone else with a complaint. FOS may be difficult with you.0 -
That is indeed worrying. Do you think it concerns your specific complaint that they are saying is outside FOS' remit, or all complaints?0
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That is indeed worrying. Do you think it concerns your specific complaint that they are saying is outside FOS' remit, or all complaints?
Our loan agreements still state they're regulated under the CCA, that fact can't be changed or erased. So where does that leave us, where's the CCA protection we were promised when signing up? Erudio still claim to be fully authorised under the Arrow Global umbrella. If that's true, then a complaint can be made against Arrow Global as the regulated firm. If it's a false claim on Erudio's website and they're sending leaflets out saying complainants can go to FOS when they can't - surely that's illegal?
Removing the right of borrowers to take a complaint to the ombudsman is a huge deal, when Erudio/Arrow Global insist on messing up deferment. The high proportion of complaints upheld in our favour since they took over proves they need to be kept in check. If that's no longer FOS, then it surely has to revert to the 'Internal Assessor' who dealt with student loan complaints before the ombudsman. The right to a formal avenue of complaint is in the student loans legislation.
This is something MSE should be interested in following up, to get a clear answer from Erudio/Arrow Global, let borrowers know exactly where they stand. Either FOS has got it wrong, or Erudio is (illegally?) misleading borrowers re their FCA authorisation.0 -
I agree. We have seen what they do when we do have a road for recourse. I would imagine the worse and then double it if we have no protection. Maybe this FOS assessor has got it wrong, or thats my hope.
The ombudsman appear to follow me on twatter, so i have fired one off to see if they will give some kind of clarification.0 -
I agree. We have seen what they do when we do have a road for recourse. I would imagine the worse and then double it if we have no protection. Maybe this FOS assessor has got it wrong, or thats my hope.
The ombudsman appear to follow me on twatter, so i have fired one off to see if they will give some kind of clarification.
I hope we get clarification soon - I emailed the FOS adjudicator who dealt with my second complaint to see if she could take on my imminent third complaint directly rather than it being assigned to someone else who may not know the history of Erudio problems, but have yet to receive a reply from FOS.
Would it surprise anyone to know that for the third time (& after two FOS complaints) my first two letters from Erudio haven't been in large print? Nope, thought not :rotfl:
Does anyone know if Anthony Reeves is still monitoring this thread? Would be interesting to hear his views if he has time.And I find that looking back at you gives a better view, a better view...0
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