ERUDIO student loans help

anna2007

@ erictheking and Sarebear78 - thanks, I thought they were referring to IC loans, that explains it.


I still think they're trying to cover their bases by getting pre-1998 agreement, as their right to disclose our data isn't clear?

ericctheking

anna2007 wrote: »

@ erictheking and Sarebear78 - thanks, I thought they were referring to IC loans, that explains it.


I still think they're trying to cover their bases by getting pre-1998 agreement, as their right to disclose our data isn't clear?

Yes, I think that too.

From reading the terms and conditions post 1998 loans are very clear on not reporting so they are really targeting those people (refusing deferral if not using their forms etc) It is blackmail, it's disgusting and needs investigating.

Pre-1998 are more ambiguous but still like you said they want to make sure by tricking people into signing away there rights.
Students loans have always been sold as not appearing on your credit file too.

anna2007

Has anyone taken the CRA issue to the FOS and had their complaint accepted?

I spoke to them today, and he mentioned the ICO a couple of times, sounded to me like they might just pass anything DPA related to ICO. I was hoping both would look into it, as they seem to have quite different roles, ICO as regulator and FOS for individual consumers.

ElwoodBlues

The mortgage style loans did go on after 97 - for existing students. My last one was in 2002. However, the t&c of the mortgage style loans changed slightly after 97. Loans up to 97 give Erudio has the right to pass on info to CRAs. 1998 onwards can only be reported to CRA's if they're in default.

Erudio wants to level out the t&c, and have the legal right to pass on details of all loans pre and post 97 equally. This is because they are in bed with Experian and sharing data. What's the betting that Erudio have a deal with Experian to sell/trade details of ALL their loan book. They can't fulfil that without post 97 borrowers signing their deferment form...

erudioed

@elwoodblues: Erudio is a shell company controlled by Arrow Global, who subcontracted Capita/Ventura to deal with us oiks, and for all intents and purposes Erudio does absolutely nothing other than funnel cash through and put its name to deals...it is from what i can see overseen by staff from The Wilmington Trust.
Arrow itself are actually in business with Experian, via the Experian Collections Network (and another mysterious deal extended and signed just before the loan sale) that Arrow created, funds and controls. If you can find the nature out of that relationship, you will get an answer to your suspicion that i for one would certainly like to hear.

Saragon

Hi
I too am having major problems with Erudio. I filled in deferment form. I got all the proof they asked for. Photocopied it and kept the copies and copy of their form. I returned it all recorded delivery within the time. I got an email from them stating my deferment was on hold as I hadn't provided my letter from my support, which I had I emailed them back with a scan of my copy of the letter saying it was included. The sent an email back saying scans are not accepted and need the original. I emailed them to say they already had the original....
They 3 weeks later sent another email asking for a new letter. I sent a new one 2days later as my support was in hospital at the time. I have tried to ring them and have emailed them to find out if I have been granted a deferment with no response. This has gone on for 4 months now...
I'm so worried that they will try take money out my bank which i don't have therefore using my overdraft and me incurring fees and penalties I'm not sleeping and have lost weight with worry. I've done everything they have asked whether I like it or not happy or not and they are dragging their feet on my deferment. At this rate Il be deferring next years loan before they confirm this years....

anna2007

erudioed wrote: »

@elwoodblues: Erudio is a shell company controlled by Arrow Global, who subcontracted Capita/Ventura to deal with us oiks, and for all intents and purposes Erudio does absolutely nothing other than funnel cash through and put its name to deals...it is from what i can see overseen by staff from The Wilmington Trust.
Arrow itself are actually in business with Experian, via the Experian Collections Network (and another mysterious deal extended and signed just before the loan sale) that Arrow created, funds and controls. If you can find the nature out of that relationship, you will get an answer to your suspicion that i for one would certainly like to hear.

@ erudioed You've maybe seen this already, but for others, here's Experian/Arrow Global's take on the shady shenanigans:


http://www.arrowglobal.net/lib/docs/133657-experian-and-arrow-faqs.pdf

erudioed

Yep Anna, i couldnt make head nor tail of its double speak, that is the document i was hoping someone would decode a while back.

anna2007

ElwoodBlues wrote: »

Loans up to 97 give Erudio has the right to pass on info to CRAs. 1998 onwards can only be reported to CRA's if they're in default.

It's all down to interpretation of the two clauses. The later one's very specific - they'll report to CRA's if in default. The earlier clause says they may disclose data to any person if they feel like it - that flies in the face of the DPA requirements.

I'm not fighting Erudio about the CRA issue for fun, or because I'm p'd off at their threats to report to CRA's (although that's partly it), it's because I believe the clause in the loan agreement isn't enough to comply with the DPA. I wouldn't waste my time if I thought there was no chance of winning that fight.

When people on the forums say Erudio already has the right, like it's a matter of fact, it could put others off challenging it. It's not fact, until we start getting some feedback on FOS/ICO complaints, we don't know for sure.

anna2007

erudioed wrote: »

Yep Anna, i couldnt make head nor tail of its double speak, that is the document i was hoping someone would decode a while back.

Can't help you there - it was very late and I'd had a few glasses of wine, made no sense to me either!