ERUDIO student loans help

ericctheking

Interesting job advert for the student loans company.

http://appointments.thesundaytimes.co.uk/job/445386/executive-director-repayments-and-fraud-student-loans-company

Notice this little chestnut under job roles

"• Assist Government with the sales of loans"

and

" facilitate loan book sales for its stakeholders"

So prepare to be screwed post 98 ex students and current and future students!

Also it's a six figure package with a final salary pension!

So I guess the sell off is only "on hold"

erudioed

ericctheking wrote: »

Interesting job advert for the student loans company.

http://appointments.thesundaytimes.co.uk/job/445386/executive-director-repayments-and-fraud-student-loans-company

Notice this little chestnut under job roles

"• Assist Government with the sales of loans"

and

" facilitate loan book sales for its stakeholders"

So prepare to be screwed post 98 ex students and current and future students!

Also it's a six figure package with a final salary pension!

So I guess the sell off is only "on hold"

Is that the right link because i dont see any of the info you mention about facilitating loan book sales and such things?

fermi

In line with Government focus, ensuring repayment and reducing fraud and error are among SLC’s key business priorities and having created a new Directorate of Repayments and Fraud, it is currently seeking to appoint an Executive Director of Repayments and Fraud to provide corporate and portfolio leadership to offer an industry leading Repayments service for its customers, facilitate loan book sales for its stakeholders, reduce fraud and error across Assess, Pay & Repayment services and provide an excellent commercial and procurement service for SLC and its suppliers.

gardenia101

erudioed wrote: »

Is that the right link because i dont see any of the info you mention about facilitating loan book sales and such things?

Link works for me - I can see that.

Can also see that the job role requires them to "Increase repayments yields"

Anyone fancy applying :rotfl:

erudioed

Thank you all!!! You know, i read it 3 times and missed it every time.

erudioed

Link works for me - I can see that.

Can also see that the job role requires them to "Increase repayments yields"

Anyone fancy applying :rotfl:

If anyone does apply and then gets the job, they'll be above the threshold :eek:

erudioed

Another FOI answer by BIS on why it wont release specific telephone call info between BIS and Arrow, Erudio, The Wilmington Trust but the response does say to refine the search: https://www.whatdotheyknow.com/request/226008/response/562344/attach/3/FOI%20Reply%20Ref%202014%2018936.pdf

Maybe an interesting period would be when Arrow/ Capita were stealing those DDs and the period immediately before Erudio took hold of the loans, or times during the bidding process.

BaffledByErudio

This shower are genuinely worse than I thought.
They actually refuse to acknowledge you even exist.
I emailed to ask about my account and whether there were arrears on the account.
I had no statement.
I owe thousands and I'm deferred.
I eventually got an email that said I'd requested information and that I should provide details of my account, as they didn't see my account on record.
The email asked me to include account number (I did), name (I did) Date of birth (I did) Adress (I did).
It's bonkers!

BaffledByErudio

In a very similar way to the rogue 500+ !!!! up, we now have this. This kind of crap worries people! But Erudio can palm it off as a 'mistake'

From their site..

Annual Statements: Due to a systems error, some customers have received annual statements with an incorrect arrears amounts detailed. This issue has now been fixed and all customers affected by this error will receive a formal apology as well as a new annual statement. For further information visit the ‘Recently asked questions’ section of the website

erudioed

Thats strike 2...i wonder what happens when they hit strike 3? My guess, it makes them prime candidate for the next round of student loan sales if you use BISs criteria of previous experience in this field (Honours Student Loans that is).
Concerning HSL, here is part of an article from the consumer action group forum...can anyone spot any similarities, especially concerning confusion around the deferment process (which HSL dont even control fully). Here it is:
Student Loans sold to ‘loan shark’ bringing despair and debt to thousands.

In November 2004 the government sold out a whole raft of student loans to the highest bidder, Honours Student Loans, bringing confusion despair and debt to hundreds of thousands of ex-students. HSL have been accused of using tactics normally the reserve of backstreet loan sharks to force students into accepting debts that they should have been protected from, creating a new underclass of ex students. HSL are accused of entrapment, bullying and harassment of an unprecedented scale and of making a mockery of the governments pledge to protect low income students and their families.

When the government introduced student loans it argued that low income students where protected from unnecessary debt and hardship by the 85% income threshold. Those students, it proudly announced, who after graduating found themselves in low incomes, would not have to pay back their student loan. This includes many who went on to use their degrees in public service such as teachers, social care workers as well as individuals who through circumstance or lack of opportunity found themselves on low incomes- often at the minimal wage. The larger proportions of students who fail to benefit from higher wages after graduating are from the lower income families, which the government claimed they wanted to encourage into university.

Thousands of those ex students have suddenly found themselves victims of the confusion around the deferment process and of unprecedented incompetence, harassment and bullying resulting in their being forced to pay back their student loans, despite being on low incomes. This has brought despair, thrown whole families into hardship, brought many to the brink of suicide and created a whole new underclass. They feel that the government has sold them out to the highest bidder and that the DfES (Dept. for Education and Standards) have washed their hands, abandoning them as the victims of a flawed education policy.

Those ex students accuse HSL of incompetence and deliberate entrapment within the deferral process. Deferrals can only be backdated three months, but HSL delayed in sending out deferral forms, then created confusion regarding the process, lost deferral forms and correspondence and only informed the student when they have past the deadline by demanding arrears and immediate full payment of the loan. The monthly repayments demanded are often over £100 a months, more than a low income family could afford and they add their own charges. They are also accused of forcing students to sign new agreements which benefit HSL. Those students that succumb to the harassment and set up direct debit payments have found HSL making regular errors, and HSL force the student to pay extra charges for their own mistakes.

Many students first realisation that they have not deferred is in the form of a postcard telling them that they are in default and that an agent will be calling at their house within the next three days. These postcards are from company called PDR or Pennine Debt Recovery, which just happens to have the same postal address as HSL. It is what happens next that has brought misery, fear and anxiety into those ex student’s homes, the demands and the way they are enforced.

Using an auto dialler system the phone calls start at 8 am every morning of the week, 7 or 8 phone calls in one day is not unusual and some students have been harassed this way for months. This has caused despair and anxiety and many students report that the daily haranguing has affected their health, driving many to the doctors through the anxiety and illness this daily and multiple intrusion into their lives brings, on top of the despair at not being able to meet the payment demands made.

I is also widely reported that HSL and PDR staff who man the phones, have only one script threatening court action and are rude, ignorant and arrogant, adding to the distress and anxiety felt. This is of course on top of the letters which regularly demand payment and threaten court action and debt recovery.

Accusations are also made that the internal complaints procedure is one sided, that of HSL, and that the DfES maintain they cannot interfere. This has driven many students to take their own action, in particular against the telephone harassment. The despair is now at such a level that ex students are organising themselves to put pressure on both HSL and the government. Lives are being made a misery, families placed under pressure and forced further into debt. This is causing anxiety and illness, and there is the very fear that this has and will drive some ex-students to suicide.