ERUDIO student loans help

Pincher

ericctheking wrote: »

Is there not a case for the loan being miss-sold then?

You want to sue Tony "Teflon" Blair?

He also sold the Iraqi WMD story. Possibly a bigger mis-selling case. I would guess going to war in Iraq cost more than student loans.

In both cases, there are re-couping mechanisms, though.
The post Iraq war re-construction contracts would make the UK some money. The educated students have higher earning potential, so pay more taxes.

ericctheking

It cost in peoples lives you are right, although I wouldn't discount people dying from the debt collectors from worry, stress and even suicide.

erudioed

just some more background on Erudio and Honours Student Loans.
From Honours Student Loans Website:

""Honours Trustee Limited (HTL) was established in 1999 to purchase a £1.03 billion portfolio of student loans from the UK Government. This was the second sale of loans by the UK Government following a similar sale to Finance For Higher Education Limited in March 1998. Honours Trustee Limited was set up and backed by a consortium of Deutsche Bank AG and the Nationwide Building Society which was selected by the UK Government as its preferred bidder after a rigorous tender process.

When HTL purchased the loans in 1999 it entered into a contract with the Student Loans Company to continue to manage the loans. This contract terminated in October 2004 and HTL transferred the administration of the loans to Honours Student Loans (HSL).""


Honours Trustee 2 limited was Erudio's previous name as registered, changed near the time of this loan acquisition. One may also find that HSL and Erudio have PO Boxes listed in Rotherham about 1km apart.
That doesnt mean much, just a coincidence i am sure. But if you take the addresses for both Honours Student Loans and Erudio directly from their websites, you get this:
Registered office: Honours Trustee Limited
c/o Wilmington Trust SP Services (London) Ltd, Third Floor, 1 King's Arm Yard, London, EC2R 7AF
Company Number 3716001

Registered office: Erudio Student Loans Limited
c/o Wilmington Trust Sp Services (London) Limited, Third Floor , 1 King's Arms Yard, London EC2R 7AF
company number 08605918


I would recommend searching for those company numbers and seeing what you find as well. HSL are even offering a debt consultation line for people who cant afford their leccy or gas if you can believe that, again run out of The Wilmington Trust's building.
https://www.debt-line.net/Default.aspx?tabid=255&CreditorID=8024
seems like a good way to collect info on people on the sly.

gunit11019

Does anyone have advice on this - as discussed earlier 2 of my loans were taken out when I was under the age of 18. I seem to remember they had to be ratified in some way, ie I also had to sign a letter confirming I agreed to the loan. I did not require a guarantor for the loans however.

Because of my age at the time of taking out the loans, and if Erudio are to put details of the loans onto my credit file (and Im in total agreement that none of them should, I certainly have never disclosed my student loans before when applying for credit) , should these 2 loans appear on my credit file or not?

I think I like most thought of these loans more of a student assistance rather than an official loan, which after graduating if you earned enough money, you had to pay your dues and pay them back?

gunit11019

Just after I posted my last a thought came to me, the last paragraph reads a little niavely. I am aware that loans are goverened by laws etc, it was just my own personal thought on how the loans were 'sold' to me.

Just a thought, the loans that I had taken out when I was 16 or 17 years old, and have always been in deferment for the past 15 years plus, would defering them indicate that I officially acknowledged after I passed the age of 18 years?

I just think this entire process is ludicrous, and what I saw as an easy matter to deal with previously when dealing with the Student Loans Company has now become a very worrying problem even before I have applied for deferment with Erudio!

fermi

reply from NUS.

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Original Message

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Subject: RE: Erudio student loans misleading ex studentsDate: Fri, 11 Apr 2014 12:00:18 +0000From: [EMAIL="khurrum.dar@nus.org.uk"][/email]

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@nus.org.uk

Dear xxx,

Thank you for your email.

We have now received a number of complaints and expressions of concern, and is being discussed in a number of other forums.

It remains that the terms and conditions cannot change in the loan agreement but there is a lot of confusion as to what else can or cannot be requested or required.

We raised the concerns in person to a senior civil servant at BIS today and it seems others have been directly in touch so this is something they are working on.

They are currently seeking clarity on the legal status of the data sharing requests as well as other points and will communicate with us when they have an official response.

In turn we will ensure we communicate this to you and other borrowers.

Thanks again for getting in touch. Best wishes Khurrum

Returnee

Does anybody have a copy of the Erudio forms they can send me (with their number blanked out) I managed to ruin mine with the help of a toddler, and forgot to copy them before the damage was done.

ripozzy

Just registered here to express my concern that Erudio's contact telephone number is saying "this service is no longer available", yet is still listed right now as the contact number on their website.


How to contact Erudio? I have my deferment forms completed and ready to be sent off, but if the company is uncontactable (and I also read earlier in the thread that emails to their contact address were bouncing back), then how can I even be sure my forms will go to them?


What's really going on here? I know I am 100% eligible for another 12 months deferment, but am suspicious that come the deadline date they wil just start taking the money from my account regardless. Is this legal?


If anyone's in a similar situation then let me what you think please/

Returnee

They don't respond to any emails or send emails when the phone people say they will. Will the ombusmen care about shoddy customer relations? I don't know.

It would be an interesting stratetgy for all 45,000 people to default on their loans, could Eurdio survive a mass default?

ripozzy

Sounds like an absolute shambles.


Alarm bells started ringing for me on the 2 previous times I did phone them. They seemed to have no idea how to interpret their own deferment form. I was given completely different instructions on how to fill out one very badly worded section of the form by two different members of their phone team, meaning I've had to write a covering letter explaining how I've filled it out. Shambles...