ERUDIO student loans help

Brooker_Dave

We're just pawns, the government and big business own this country now, although the London riots showed that when the pawns get sick of their lot and kick off, there's little or nothing the government can do...

anna2007

Sarebear78 wrote: »

I don't mind requesting the information - would it be another request to BIS?

Thanks Sarebear Yes, I think BIS would be the best bet, they should pass it on to the relevant minion. You could make the same request to the SLC too, in case they have something BIS don't?


I had a look on the Gov.uk website to check BIS are the right people, and was a bit surprised to see that they have responsibility for consumer rights and issues... nearly fell off my chair, didn't know if I should laugh or cry at that one!

erudioed

Does anyone know a link to historic yearly deferment thresholds for mortgage style loans. It seems BIS announced the lowering of the threshold. Surely though, from what i am aware, this ruling on the changing of the threshold only benefits Arrow Global, Erudio etc (Thesis, Honours Student Loans) because SLC doesnt have any of these style loans on the book now.
So, by changing it, they have in effect thrown a carrot to these consortiums hiding behind these shell companies and thrown us to the wolves again. So, when BIS decided on lowering the threshold, they must have known it wont help those with the loans it will just make more of us pay these debt vultures.
Here is the link anyway to the page that says BIS announced the changing of the deferment threshold, something the MSE article doesnt mention. But who we know are one of the main players in this whole messy business.
Here is a direct quote: BIS today (11th August) announced changes to the Interest Rates and Thresholds of Income Contingent Student Loans and Mortgage Style Student Loans.
And here is the link: http://www.studentloanrepayment.co.uk/portal/page?_pageid=93,3866911&_dad=portal&_schema=PORTAL

It seems very much to me that things have been agreed in advance between BIS and the Arrow Consortium, things that will be slowly rolled out that will benefit Erudio and screw us...all within the confines of the law i bet.
But, after making such a claim, i am happy if someone can prove me wrong and waylay my conspiratorial broodings.

anna2007

Brooker_Dave wrote: »

We're just pawns, the government and big business own this country now, although the London riots showed that when the pawns get sick of their lot and kick off, there's little or nothing the government can do...

My blood is boiling at the minute, that's another Yes vote confirmed today for the Independence referendum come September, I'm sick to my core of this Government.

I could be wrong, but I thought the Government had no discretion over the level of deferment (I suppose "estimate" gives a little scope, but hardly £2000 down the way when wages are increasing)? The definition in the 1998 Regulations:

""deferment level" means 85% of the lender’s estimate of average monthly earnings of all full-time employees in Great Britain for the January when the level will apply based on figures published by the Office for National Statistics, or if that Office ceases to publish relevant figures, any other published figures".

I've had a look at the ONS website, and quickly lost the will to live, it's not the easiest site to find info, but I did see that the annual growth in average weekly earnings for January is up 1.4%? And has been rising each month lately. The figures don't tally with the current deferment level, so don't know what jiggery-pokery they do there, but indication is earnings are on the increase? Also, according to the MSE article, the deferment level for one group of the IC loans has increased.

From my obviously biased point of view, BIS agreed to the reduction in the deferment level as an extra sweetener to Arrow Global, along with the CRA carrot, and !!!! knows what else is around the corner. If anything, the reduction proves that it wasn't an oversight on the part of our Government to include deferred loans in the sell off - our loans are fair game and have been used to incentivise Arrow Global to buy the loans book.

anna2007

Those !!!! weren't even a swear word, yes I'm angry, but I said "!!!!", the Battlestar Galactica version of "!!!!" !!!


Edit: Ok, maybe it was the Irish version of "!!!!".

anna2007

@ Erudioed I 100% agree with your conspiracy theory - to me it's as clear as day and night, and I'm furious about it. I'm nowhere close to the deferment level, it's the fact they think it's ok to shift the goalposts NOW, when they don't even own the loans anymore, and it's so f'n obvious why they're doing it.

I've always kept the stuff from the SLC confirming deferment and also the annual statement, will look it out, hopefully the kids or dogs haven't destroyed it


Edit: If I don't have it, the info's out there in the public domain, makes me think the Government's either ridiculously stoopid, or there's a loophole in the legislation? Maybe both!

anna2007

That's another FOI request right there - the Government's "estimate" of average monthly earnings last year vs their figure for this year - I'd love to see how they arrived at that in any kind of fair or justified way.

patanne

So who is in a good position to check out how much of Erudio et al is owned by people who have an interest in BIS and other arms of the government (people that is, not establishment). It can sometimes pay to be paranoid, because a modicum of paranoia does turn out to be true and this is beginning not just to smell but to stink.

erudioed

Before we start to flog the horse, i think we need the historic deferment threshold figures to see whether these recent consecutive lowerings of the threshold all coincide with the decision to sell off the remaining Mortgage style loans to the Arrow Global gang. I had a look and couldnt find such a list but maybe my head is still woozy from the sudden announcement. These figures may tell a story in themselves but we need to see them first. Can anyone help?
It does seem like a rather big drop, £2000 in one year suggests the floor must have fell out of something...

erudioed

anna2007 wrote: »

@ Erudioed I 100% agree with your conspiracy theory - to me it's as clear as day and night, and I'm furious about it. I'm nowhere close to the deferment level, it's the fact they think it's ok to shift the goalposts NOW, when they don't even own the loans anymore, and it's so f'n obvious why they're doing it.

I've always kept the stuff from the SLC confirming deferment and also the annual statement, will look it out, hopefully the kids or dogs haven't destroyed it


Edit: If I don't have it, the info's out there in the public domain, makes me think the Government's either ridiculously stoopid, or there's a loophole in the legislation? Maybe both!

Great Anna, it will be good to see the historic data if it is on your forms from SLC. As this decision only affects those who have had their mortgage style loans sold, it only benefits Erudio, Thesis and Honours Student Loans. Hopefully, if that is correct, some journalist, or parliamentarian, will hold BIS to account and ask them if they are working for businesses or for the people...i guess the name of their department provides the answer but i assume it still means we the oiks should be at the centre of things and being protected by them. If our suspicions are right, we can fully right BIS off as being any kind of help because they have nailed their hat to the post and declared they are sided with Lewy and Arrow and such. If we were in a plutocracy that would be fine but as i understand it, we are in a democracy, so hopefully someone with influence will stand up and hold someone to account about this.
That historic data will be a good start though!