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  • FIRST POST
    TazFrank1
    ERUDIO student loans help
    • #1
    • 16th Mar 14, 10:32 PM
    ERUDIO student loans help 16th Mar 14 at 10:32 PM
    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
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    • anna2007
    • By anna2007 7th Oct 16, 1:59 AM
    • 1,150 Posts
    • 1,972 Thanks
    anna2007
    I think they use something like this Anna:

    http://www.nhunter.co.uk
    Originally posted by GinOClock
    Yep, we definitely qualify as victims of fraud!
    • erudioed
    • By erudioed 7th Oct 16, 9:34 AM
    • 605 Posts
    • 884 Thanks
    erudioed
    Yep, we definitely qualify as victims of fraud!
    Originally posted by anna2007
    And all those releases you are finding and getting released only adding to that case. It looks so dodgy, organised, planned and openly described that i am sure a good lawyer could put together a hell of a class action on behalf of us all. If such a thing were to occur, i would be happy to waiver any potential compensation and give it all to the lawyer willing to expose and nail this whole deal to the cross!
    Osbourne was so quickly flung out of number 11 that its pretty clear he has many disgusted colleagues even within his own party. I am pretty sure his disgraceful legacy will continue to build over the coming years. Lets hope we are all a small part of creating it.
    Last edited by erudioed; 07-10-2016 at 9:37 AM.
    • Banksters
    • By Banksters 7th Oct 16, 8:37 PM
    • 31 Posts
    • 57 Thanks
    Banksters
    Assignment
    As far as I am aware, from what I have read via a Scottish lawyer's website, on guidance for assignment in Scotland. The Notice of Assignment should be sent by recorded delivery. Then signed by the debtor, then returned to the owner of the loan.

    As far as I read, in theory, all loans in Scotland should have been assigned this way, someone at Erudio's end has to sign the assignment too, as far as I know. I think all the loans have been "assigned" electronically via the "CD Rom" (In Purchase Agreement). Hence, as Dave noted too, how they were desperate to get you to sign something with them. As then once you signed anything with them, they can say "the debtor has acknowledged the debt". Erudio probably thought they could get away with not assigning the loans properly. As many of the original SLC agreements seem not to even be executed properly by SLC in the first place too.

    Erudio would not have expected the Purchase Agreement to be looked at by any of the "normal people" affected by their scamming.

    We must get a class action lawyer on this. One that has taken on the government before. The people who took on Northern Rock asset management thing might be good. There is more than enough evidence now I think to hammer Erudio.
    • anna2007
    • By anna2007 8th Oct 16, 11:35 PM
    • 1,150 Posts
    • 1,972 Thanks
    anna2007
    This might be an option:

    http://www.barprobono.org.uk

    The link was included in the Information Tribunal's guidance, I was thinking of applying via my MP for the current appeal on the SPA, if I need to put together a skeleton argument for the hearing. You can't apply direct, has to be through referral by your MP, CAB, etc.

    BIS/DfE hired a Barrister for the tribunal appeal at the taxpayer's expense (why do they do that, when they already have legal people on the payroll at taxpayer's expense?). It's possible another Barrister, not motivated by the pay cheque, would be interested in looking at the facts of our case - it's completely new territory legally speaking, compelling evidence against the shitty DCA Arrow Global and the Government - might be intriguing enough for someone to take on?
    Last edited by anna2007; 09-10-2016 at 1:40 PM. Reason: Name Arrow Global as the shitty DCA
    • Dazza808
    • By Dazza808 10th Oct 16, 3:23 PM
    • 4 Posts
    • 1 Thanks
    Dazza808
    I'm looking for some advice on how to deal with Erudio.

    I've just received a letter from Erudio saying my student loan has matured and the outstanding balance is due in full, it's just under £2000.

    I will admit I received a letter in April they sent me but didn't give it any attention because since taking the loan I've always been below the threshold to start repaying so thought I didn't have to bother with them, I thought things would continue as they did under the Student Loans Company.

    The letter in April stated they have had problems producing statutory notices that should have been sent since March 2014 but have now rectified the problem and sent me in the letter a few annual statements dating back to 2014 that should have received at the time.

    The more I read about the horror stories dealing with Erudio I'd like to know what my next step should be, I am entitled to defer the payments, I can prove my last 4 years income from my self assessment with HMRC.

    Any help greatly appreciated...
    • Brooker Dave
    • By Brooker Dave 10th Oct 16, 5:52 PM
    • 4,729 Posts
    • 3,082 Thanks
    Brooker Dave
    Did you ever send back deferment forms?
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • Lungboy
    • By Lungboy 10th Oct 16, 6:31 PM
    • 872 Posts
    • 860 Thanks
    Lungboy
    There's no such thing as the loan maturing so it sounds like you didn't defer and defaulted and now they are asking for the full sum.
    • anna2007
    • By anna2007 10th Oct 16, 11:46 PM
    • 1,150 Posts
    • 1,972 Thanks
    anna2007
    @ Dazza808 It would help if you could give a few more details? Is your deferment up to date? None of us enjoy having to deal with the shitty DCA Arrow Global, but it's important that we continue to do what's required of us via the t&c's - if you're against signing their DAF, amended or not, at least send them a letter and proof of income when your current deferment's coming to an end, then at least you've upheld your end of the original deal.

    They've mentioned the loan "maturing" before, in reference to loan cancellation, that's just Arrow Global trying to confuse the issue. As Lungboy said, these loans don't 'mature', they simply expire - after 25 years or when you turn 50 (60 I think, if you were over 40 when the loans were granted, but check that), whichever is first.

    If you've let deferment slip then yes, Arrow Global will be trying their best to make you pay up, because that would be gifting them the opportunity to hound you and profit. If you missed deferment but you're under the income threshold, you can apply now and it will be backdated a maximum of 3 months.

    It's also not clear from your post if you've responded to Erudio/Arrow Global or SLC - if you haven't done in the last 6 years (5 in Scotland), then you should probably google 'statute barred debt'!
    • erudioed
    • By erudioed 12th Oct 16, 10:00 PM
    • 605 Posts
    • 884 Thanks
    erudioed
    Just for the record, here is a link to the latest companies house filing for "Total exemption full accounts made up to 31 December 2015" filed by our beloved, appropriately named, leader Mark Filer...that is actually about all he does, files: https://beta.companieshouse.gov.uk/company/08605918/filing-history
    The cash flies out to Arrow Global Limited and Harrogate Holdings LP from, as we already know, Capquest Debt Recovery Limited, the primary servicer of our loans who handles all of our info, so says the above document.
    • erudioed
    • By erudioed 15th Oct 16, 10:04 AM
    • 605 Posts
    • 884 Thanks
    erudioed
    Just reading Arrow Global's 2015 preliminary report and was surprised to see this rather amusing but telling quote when outlining potential threats to its profits:

    "There is also a risk of documentation deficiencies in purchased portfolios that are unable to be remediated or mitigated through contract and/or warranties."

    To read the telling document: www.arrowglobalir.net/files/file/download/id/288
    • Brooker Dave
    • By Brooker Dave 17th Oct 16, 5:58 PM
    • 4,729 Posts
    • 3,082 Thanks
    Brooker Dave
    Originally posted by erudioed
    "Negative attention and news regarding the debt collection industry and/or the Group’s collections activity may impact our reputation and therefore the Group’s ability to acquire portfolios and customers’ willingness to repay the debt that the Group acquires."

    "willingness to repay" - makes it sound like they bully people into paying when there's no need?
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • 8Steve8
    • By 8Steve8 17th Oct 16, 9:14 PM
    • 1 Posts
    • 0 Thanks
    8Steve8
    Hi
    Hoping for some advice, I just received a letter from Erudio informing me the management of my account has been transferred to Moorcroft Debt Recovery.

    This is the first communication I have had from Erudio since filling in the forms they sent back in 2014. An oversight on my behalf but used to just getting a deferment form and sending it back once a year.

    I've called Erudio and to cut a long story short, they received my forms which included updated contact details, but didn't update my actual account. Subsequently all communication has been sent to my previous address. As I haven't been in contact my loan agreement has been cancelled and the debt passed to Moorcroft.

    Erudio admitted they have made an error and offered me £50 compensation, but refused to reverse the decision, putting the fault with me for not contacting them sooner.

    Anyone dealt with similar issue or have any advise, should I escalate complaint with Erudio or go straight to FOS. Also what to do about Moorcroft, they were OK tbh just keen to get me into a payment plan!
    • Brooker Dave
    • By Brooker Dave 18th Oct 16, 9:15 AM
    • 4,729 Posts
    • 3,082 Thanks
    Brooker Dave
    Try the FOS, and then court, breach of contract.
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • erudioed
    • By erudioed 20th Oct 16, 10:26 AM
    • 605 Posts
    • 884 Thanks
    erudioed
    Just been posed this question on twatter about whether this mortgage payment scam by banks affects the Erudio account in any way. I have no clue, so was wondering if someone more in the know has any thoughts.
    http://www.bbc.com/news/business-37702182
    • welliesrgreat
    • By welliesrgreat 21st Oct 16, 4:40 PM
    • 38 Posts
    • 7 Thanks
    welliesrgreat
    I have just received a letter from Erudio stating that my loans (x4) taken out in 98,99,00 and 01 have 'matured' and the outstanding balance has now due! I had a statement in Sept 2016 and thought nothing of it. I have not had any contact with SLC or Erudio for nearly 15 years. What advice do people have for me? Statute barred? I'm not proud of this but definitely do not have the money to pay them back now. Can they default if i ignore them ? Thank you
    • Brooker Dave
    • By Brooker Dave 21st Oct 16, 10:44 PM
    • 4,729 Posts
    • 3,082 Thanks
    Brooker Dave
    The loan matured thing is a term used to cheat people out of money.

    Thankfully your loan is statute barred, despite what Arrow Guernsey might tell you.
    "Love you Dave Brooker! x"

    "i sent a letter headded sales of god act 1979"
    • welliesrgreat
    • By welliesrgreat 24th Oct 16, 6:14 PM
    • 38 Posts
    • 7 Thanks
    welliesrgreat
    Thank you Dave, do i need to send the statute barred letter to them still or just keep quiet?
    • fairyfairyblue
    • By fairyfairyblue 25th Oct 16, 1:59 PM
    • 2 Posts
    • 4 Thanks
    fairyfairyblue
    Grrrr, Erudio!
    Ok, so first of all the merry-go-round of Erudio and deferral has come around again.

    A bit of background. Partner and I both have loans which were taken in '95, '96 and '97 and were sold to Erudio. 10 years ago we left the UK and have been living off rental income from property in the UK, prior to this I never earned enough to pay anything back (cue a HUGE loan amount!) but my partner was just over the threshold. Obviously, when we moved out of the UK we were eligible to defer due to our incomes being way under the threshold. But every single year it's a battle.

    Due to us being overseas, my Mum is named as our third party authorisation. Every single time she tries to contact Erudio, they don't have evidence on file of her details (for both of us) and we have to submit it again. The last time we submitted it was when my Mum moved house so we had to change the address on our file - amazing they manage to send the letters to the correct place but not hold on to the third party authorisation.

    Anyhow, this year I decided to do the deferment online (I know people's views on this, but it was just too much for my Mum to do with the forms etc). I did mine at the beginning of August using my latest tax return as proof of income and heard back about 4 days later to say I had been deferred. In a previous year, Erudio deferred me and then took a payment from my bank account, which I promptly reported to my bank who refunded the money immediately.

    Now on 3rd October my Mum received a 'reminder' letter that my partner's deferral is up on 9th November - no DAF, nothing just a reminder (nothing else had been sent apart from a statement in September). So he logged in online, submitted the exact same info as I had (as our income is the same!) and 20 days later, still no deferment confirmation. We have been late chasing it as we have both been really ill. So he logged on to the portal to find a message saying Erudio needs further information for the deferral application. We are completely mystified as to what they want - surely an official PDF of his tax return from HMRC is enough (considering it was for me!) for their purposes?

    So my Mum tries calling yesterday to see what exactly they want now. Guess what? They couldn't find the third party authorisation yet AGAIN. The girl on the phone reckons it takes 5 days for a letter to go out...so why hasn't anything come through with what he needs to send after 20 days?

    Honestly, every single time it's like banging your head against a brick wall. If necessary we will call them, but it will cost us a fortune - which is why we list my Mum on a third party authorisation (and we have e-mail receipts showing they have received and replied to these requests).

    The fact that neither of us received any kind of DAF, we only received a 'reminder', is this significant and could my partner use this in his dealings with them for a breach of contract?

    We both feel that this is deliberate on the part of Erudio to try and get money out of him. Does anyone have any advice?
    • erudioed
    • By erudioed 26th Oct 16, 10:36 AM
    • 605 Posts
    • 884 Thanks
    erudioed
    That sounds like the exact tactic they tried in April, sending out the deferral date deadline warning before the DAFs. The same tactic they lied to the Guardian about.
    Unfortunately the only thing you can do is lodge an official complaint to Erudio to start the Ombudsman process. You can demand compensation for all the expensive calls/time etc. It seems like you have the contact date information and discussion topics logged, so you should see your complaint through to the end. If Erudio fails to admit to any of this, the ombudsman can demand telephone logs etc and listen to how poorly Erudio/Capquest have handled your complaint. Ombudsman complaints, and seeing them through to the end, is just about all we have.
    And we all need to do what we can to stop this DAF process bullsheet they are trying on!

    Additionally: Just had an interesting follower on my twitter account, its the ombudsman, who i tweeted about the above post yesterday. Maybe the poster could tweet the ombudsman as well, as could anyone else with any gripe whatsoever. The account name for them is @financialombuds. And here is the link to their contacting me post if anyone wants to add tweets to let them know how widespread this is: https://twitter.com/erudioed/status/791212782968565760
    Last edited by erudioed; 26-10-2016 at 10:47 AM.
    • BorderReiver14
    • By BorderReiver14 26th Oct 16, 10:38 AM
    • 175 Posts
    • 406 Thanks
    BorderReiver14
    You are right about one thing and that is dealing with Erudio is like banging your head on a brick wall.

    If the info you sent was accepted and yet they won't accept the same from your partner then a formal complaint to Erudio is in order followed by a complaint to the FOS.

    One email to Erudio is all they should need from you stating the problems you have explained here. Mark it official complaint.

    Point out that your partner has met his obligations for deferment and has already shown enough as it was exactly the same for you.

    I now just send three months worth of evidence rather than the 1 SLC always accepted because it saves time as they are only interested in getting folk to pay up. Let us know how you get on.
    Paying for uni to get a job... just to get a job to pay for uni
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