ERUDIO student loans help

Sarebear78

eroneo wrote: »

Has anyone here obtained their credit file and found a search on it by Erudio?

I don't think it is fair for them to do that without consent.

Also, I know a few people have had deferment granted without using the form and many have used the form but crossed out the FPN, but has anyone managed to get confirmation that the FPN will not apply?

Thanks

My response from the FOS has that Erudio have confirmed to them (the FOS ) that the FPN is optional. In my letter to Erudio I said I didn't want changes to T & C and I crossed through the FPN on the DAF and wrote that I did not agree to my T & Cs being changed (and if Erudio think they are then it is back to the ombudsman for me - I am sure lying to them is not good!)

Hope that helps

eroneo

Pluthero wrote: »

No I have a complaint put into ICO about Erudio using my personal data in a way I have not consented to; ie registering my loans on CRA's. (one of the main reasons for NOT using Erudio's DAF.) ICO wanted a copy of my credit report showing any changes made should my legally deferred loans be registered as a bad debt. I signed up to NODDLE and seen Erudio had done some kind of admin check in May.

Everybody Complain about every and any thing Erudio have done to the FCA [EMAIL="consumer.queries@fca.org.uk"]consumer.queries@fca.org.uk[/EMAIL]

Lets get the heat turned up on these chancers:)

Don't worry, I will use all means available to see a just outcome. If they have accessed your credit file, you should consider sending a subject access request to Erudio to find out what info they have gathered about you and for what purpose.

https://ico.org.uk/for-the-public/personal-information/

If they have collected information over and above what is needed to manage your account, you should report it with your complaint.

Under the first principle of the Data Protection Act 1998, obtaining information about a person must be 'fair and lawful'. My own interpretation is that one has the right to know what information will be collected about them before they sign an agreement, if the the collection is to be considered 'fair'.

I am wondering if anyone on this forum still has a copy of their loan application form to see what small print is on there?

Pluthero

eroneo wrote: »

Don't worry, I will use all means available to see a just outcome. If they have accessed your credit file, you should consider sending a subject access request to Erudio to find out what info they have gathered about you and for what purpose.

https://ico.org.uk/for-the-public/personal-information/

If they have collected information over and above what is needed to manage your account, you should report it with your complaint.

Under the first principle of the Data Protection Act 1998, obtaining information about a person must be 'fair and lawful'. My own interpretation is that one has the right to know what information will be collected about them before they sign an agreement, if the the collection is to be considered 'fair'.

I am wondering if anyone on this forum still has a copy of their loan application form to see what small print is on there?

Thanks.

Will look into that! Not sure if they are allowed to access it under the student loans act? I suspect not but does anyone know for sure?

anna2007

erudioed wrote: »

Great news in that article about Comapnies House giving them there first warning. This is the news we must spread far and wide. Nothing will hurt all the parties involved as much as this one. So why would they do such a thing? Are they aware of the scrutiny their accounts will be put under by us, especially as we will be able to get access to them. Will it illuminate on the money that has changed hands, especially the outgoings for the £160 million (if thats what it actually was...think aggregate consideration?). Maybe we will get a peek at how much they pay Ventura/Capita to carry out their sordid aims, and losses and incomings and outgoings. There sure have been quite a few key fook ups this year. Who knows, maybe they are just crap and this is further evidence of that. Either way, this is a rather amusing day thus far in a fight that has had too few!

I know we can only speculate at the moment, but it seems more likely that Erudio are deliberately stalling on filing their accounts? They must have access to an accounting team at Arrow Global and/or Carval, so are well aware of the implications of not submitting their annual accounts.

So maybe they have something to hide - as you say, it'll likely explain this "aggregate consideration" thing, and possibly highlight what a joke of an outfit they really are (probably tricky putting a set of financial accounts together for an empty shell of a company). I can't see that being the reason though, they're just delaying the inevitable, the accounts have to be filed.

Or maybe this was their intention all along, to have their credit licence revoked? It wouldn't look too good if the Government sold student loans directly to one of the biggest global DCA's, so set up the nonentity that is Erudio, get that nonentity wound up, and our loans pass to the global DCA, who were always the true owners anyway, as they're the investors in the nonentity. I have no idea how these things work, but nothing would surprise me anymore when it comes to how these crooks operate.

We'll find out eventually what they're up to. And as incompetent as Erudio are, I really don't think they went "Oops, we forgot to file the accounts!"

patanne

I guess they really are too big for that. Unless you think Tescos!! Or would have thought they were too big to be that "ignorant". Or so big they thought they wouldn't have been caught. Maybe someone at HMRC has a loan that has been passed to Erudio. You can but hope.

anna2007

Pluthero wrote: »

Thanks.

Will look into that! Not sure if they are allowed to access it under the student loans act? I suspect not but does anyone know for sure?

When you say an admin check, do you mean a 'soft search', so doesn't show to others, or is it there for all to see? Either way, they've probably overstepped the mark.

In fact, they've told us that agreement to the FPN is optional, and they're legally obliged under the DPA to provide us with one for the data processing to be deemed fair... does that mean that if we haven't agreed to their current version, they can't process ANY of our information until we've received an FPN we agree to? Never mind what the Student Loans regs permit them to do, which isn't a lot by the looks of it, most definitely not searching your credit record.

anna2007

I read this article a few weeks weeks ago, but didn't think it was relevant enough to post, as Sallie Mae's only Erudio's Auntie... or maybe the Granny

Might be more relevant now, with Erudio's inability to act like a legitimate company:

http://www.theguardian.com/commentisfree/2014/nov/24/sallie-mae-student-loan-financial-education

Brooker_Dave

""Improper application of accounting principles by Wilmington Trust had the effect of misleading investors about a key credit quality metric during a time of significant upheaval and financial distress for the bank," said Andrew J. Ceresney, the SEC's director of the Division of Enforcement. "Investors must know when banking institutions are unable to recover on material amounts of outstanding loans, which means those institutions must carefully adhere to relevant accounting rules."
The settlement, in which the bank neither admits nor denies the SEC findings, is an ignominious legacy for a bank founded by du Pont family members in 1903, said Helen Bowers, chair of the Finance Department at the University of Delaware. Until it was forced to sell, Wilmington Trust was one of Delaware's last major independent institutions.
"Not that long ago, it was unthinkable that Wilmington Trust, the bank most associated with Delaware, would be associated with the word fraud," Bowers said.
Besides the SEC settlement, the bank has been embroiled in a criminal investigation by the U.S. Department of Justice that has led to six prosecutions since 2013."

erudioed

It could be an idea for anyone with a story they consider as financial wrongdoing to contact Tony Hetherington at that thisismoney.co.uk, especially as he has found something out already and more impressively actually published it. He is asking for stories at the bottom of the page. He writes " If you believe you are the victim of financial wrongdoing, write to Tony Hetherington at Financial Mail, Room 301, 2 Derry Street, London W8 5TS or email tony.hetherington@mailonsunday.co.uk. Because of the high volume of enquiries, personal replies cannot be given. Please send only copies of original documents, which we regret cannot be returned.

anna2007

erudioed wrote: »

It could be an idea for anyone with a story they consider as financial wrongdoing to contact Tony Hetherington at that thisismoney.co.uk, especially as he has found something out already and more impressively actually published it. He is asking for stories at the bottom of the page. He writes " If you believe you are the victim of financial wrongdoing, write to Tony Hetherington at Financial Mail, Room 301, 2 Derry Street, London W8 5TS or email tony.hetherington@mailonsunday.co.uk. Because of the high volume of enquiries, personal replies cannot be given. Please send only copies of original documents, which we regret cannot be returned.

Well spotted erudioed, bloody brilliant because the writer obviously already recognises the whole set up as "strange". I hope Tony Hethirington will forgive us, but we really need to bombard him with our own personal accounts, the fires have been well and truly stoked with the annual accounts boo-boo, it's a great opportunity to let him know about all of the other crap we've been going through too.

We have to try and generate interest with the rest of the media about the annual accounts eff-up (and everything else), so here's a list of other contacts (a fairly old list, but hopefully mainly up to date), to either copy in, or send an individual email to - maybe they'd prefer being individually contacted, rather than one big email shot, I don't know how sensitive journalists are to such things...

biscom@parliament.uk; news@moneysavingexpert.com; s.read@independent.co.uk; paul@paullewis.co.uk; moneybox@bbc.co.uk; emmalunn2002@hotmail.com; news.london@ukmetro.co.uk; money@theguardian.com; which@which.co.uk; editor@thisismoney.co.uk; weekend.money@thetimes.co.uk; newsdesk@sunday-times.co.uk; watchdog@bbc.co.uk; uknewsplan@bbc.co.uk; news@sky.com; james.smith@pressassociation.com; lesley@feistyproductions.co.uk; ean@ft.com; news.desk@express.co.uk; news@the-sun.co.uk; steve.hawkes@the-sun.co.uk; paul.dacre@dailymail.co.uk; itvplanning@itn.co.uk; news@channel4.com; dtnews@telegraph.co.uk; stnews@telegraph.co.uk; news@dailymail.co.uk; mirrornews@mirror.co.uk; money@citywire.co.uk; news@eveningtimes.co.uk; newseditor@independent.co.uk; rachel.williams@moneywise.co.uk; info@ifaonline.net; ian.dunt@politics.co.uk

We might not get a better chance to generate media interest in our story than this - Erudio officially not fit for purpose!!