ERUDIO student loans help

Sarebear78

anna2007 wrote: »

I've decided to make a Subject Access Request, costs £10, but you get ALL personal and financial info they hold about you, so I think it's worth it.

Agreed - definitely worth it. I made a SAR and got all my info too. Might need it in future......

DuB-RooTz

Morning guys,

I final got a letter in response to my deferment attempt, i didnt sign the erudio DAF instead i wrote NO CONTRACT and blanked out all advised parts of it, my wife typed a letter advising that she is supporting me also.
I now have a response asking for a signed and dated letter from my wife and my bank statements, the thing is my wife pay me in cash, do i have to send erudio my bank statement as there is no reason to as it wont prove anything??

Thanks

anna2007

DuB-RooTz wrote: »

Morning guys,

I final got a letter in response to my deferment attempt, i didnt sign the erudio DAF instead i wrote NO CONTRACT and blanked out all advised parts of it, my wife typed a letter advising that she is supporting me also.
I now have a response asking for a signed and dated letter from my wife and my bank statements, the thing is my wife pay me in cash, do i have to send erudio my bank statement as there is no reason to as it wont prove anything??

Thanks

Your wife could state in the letter that payments were made to you in cash, therefore there's no paper trail, but you might want to provide the bank statements they've requested, showing only credit entries, to show there's nothing been transferred into your account from your wife? Only if you're happy to do that though.

It sounds like Erudio are processing your application without a signed DAF, if they haven't asked you to do that?

DuB-RooTz

anna2007 wrote: »

Your wife could state in the letter that payments were made to you in cash, therefore there's no paper trail, but you might want to provide the bank statements they've requested, showing only credit entries, to show there's nothing been transferred into your account from your wife? Only if you're happy to do that though.

It sounds like Erudio are processing your application without a signed DAF, if they haven't asked you to do that?

ill do that thanks Anna2007, i dont want to send them anything i dont have too to be honest..

Thanks again

Jonez

They asked for a bank statement from me, as my only income is that provided by my wife, in the form of meeting all of our joint household expenditure, plus my own personal outgoings. I refused, on the basis that all the statement would prove is my wife's income and she would not consent to that, plus details of HER outgoings - she would not consent to them scouring the document looking at what she spends her money on. The situation was probably made easier as we only have the one joint account, from which all expenditure is made.

My wife wrote them a letter, confirming all of the above and that she makes no 'one off' or regular allowance payments of any kind to me. She, of course, also confirmed the level of support provided each month. This was accepted and I was deferred.

Pluthero

Good to see the FCA acting on sharp practice in the Consumer Credit market: http://www.theguardian.com/money/2014/oct/02/wonga-writes-off-customer-debt

“We are determined to drive up standards in the consumer credit market and it is disappointing that some firms still have a way to go to meet our expectations,” said Clive Adamson, director of supervision at the FCA. “This should put the rest of the industry on notice – they need to lend affordably and responsibly.”

Now We (Fellow Sufferers) are not customers of Erudio, more like captives BUT Please Please Please send off a complaint to the FCA about anything Erudio have mis-behaved about. Take your pick! I did and got this Response:

Dear Mr Unhappy Erudio captive,

Thank you for your email making us aware of your complaint against Erudio Student Loans. I am sorry to hear of the difficulties you have been experiencing.

As the regulator of the financial services industry in the UK, we are grateful for you raising your complaint with us. I note that you are aware that the FCA has no authority to become involved in complaints on an individual basis and you have contacted the Financial Ombudsman Service in this respect.

I can confirm that Erudio Student Loans Limited are regulated by the FCA to undertake consumer credit activities. I have passed the information you have given on to our supervisory team within the FCA for their information, although I should explain that The FCA will not be able to confirm the progress of any investigation we may undertake.

This is because the Financial Services and Markets Act 2000 requires us to keep this information confidential. I understand this can be frustrating but please be assured that all information we receive is carefully considered.

Thank you for writing to us.

Yours sincerely,


SO make your voice count!

crapola

Pluthero wrote: »

.... “We are determined to drive up standards in the consumer credit market and it is disappointing that some firms still have a way to go to meet our expectations,” said Clive Adamson, director of supervision at the FCA. “This should put the rest of the industry on notice – they need to lend affordably and responsibly.” .....

Dear Mr Unhappy Erudio captive,

Thank you for your email making us aware of your complaint against Erudio Student Loans. I am sorry to hear of the difficulties you have been experiencing.

As the regulator of the financial services industry in the UK, we are grateful for you raising your complaint with us. I note that you are aware that the FCA has no authority to become involved in complaints on an individual basis and you have contacted the Financial Ombudsman Service in this respect.

I can confirm that Erudio Student Loans Limited are regulated by the FCA to undertake consumer credit activities. I have passed the information you have given on to our supervisory team within the FCA for their information, although I should explain that The FCA will not be able to confirm the progress of any investigation we may undertake.

This is because the Financial Services and Markets Act 2000 requires us to keep this information confidential. I understand this can be frustrating but please be assured that all information we receive is carefully considered.

Thank you for writing to us.

Yours sincerely,


SO make your voice count!

I couldn't agree more Pluthero. If anyone needed encouragement to take this to the top, here it is. Inthe FCA’s own words. Let's do this.

MrStarship

I've received FOI answer from SLC relating to host of questions in which I was probing for answers in relation to a host of issues. Unfortunately, I was a bit too keyboard happy and filed off too many, so they are unwilling to answer them.

However, the SLC do say that have answers to a number of questions I asked. I've tweeted the user on here and on Twitter called Erudioed and told him/her the link which shows questions that they have anned, but kindky told what questions can be answered. Maybe others can reword them and send them off to SLC as could be some very interesting answers as to how they have worked and who knows what.

anna2007

Pluthero wrote: »

Good to see the FCA acting on sharp practice in the Consumer Credit market: http://www.theguardian.com/money/2014/oct/02/wonga-writes-off-customer-debt

SO make your voice count!

The comment from the MP who is a member of the Treasury Select Committee is interesting:

“I have written to the chairman of the Treasury select committee asking that he summons Wonga’s senior management to appear before the committee to explain their actions.”

Wouldn't it be fun to have Erudio dragged in front of the committee to explain their underhand tactics?

I had a look at what the Treasury Select Committee does, and they have a current inquiry into 'Treatment of Financial Services Customers'. Only had a quick look at the first few pages of oral evidence given on 3 September, talks of miss-selling, firms' appalling behaviour, regulation, etc, will read the rest later:

http://www.parliament.uk/business/committees/committees-a-z/commons-select/treasury-committee/inquiries1/parliament-2010/treatment-of-financial-services-consumers-/

It might be an idea to send our complaints to the committee, as well as the FCA? Can't do any harm, and they may well take an interest, as our Erudio situation seems pretty relevant. Email contact:

[EMAIL="treascom@parliament.uk"]treascom@parliament.uk[/EMAIL]

erudioed

MrStarship...thanks for the head up, i am a little busy to follow closely right now. Even though they havent replied, they have kind of replied with a very interesting refusal stating what info they do have, and the questions they do have info for, if others were to ask those questions. Lets hope some of us do file some of those requests so that we can get some insight into the dealings. I am sure there are many specific things that they state they can answer and have info on that will interest specific people.
I thought your efforts were herculean by the way before!
With the general erection coming in 2015, i am sure if the right info is found in such requests, it will help those with different interest, such as those wanting to prove what a disaster this loan sale has been by the present government.