ERUDIO student loans help

erudioed

These journalists all ask for stories and i think there have been many that are print worthy. In fact, they are probably more print worthy to such columnists than our overall general fight and concerns etc. I am sure Erudio's disregard for people with disablilities would strike a cord, as would these long periods taken to get answers that are pushing people into arrears temporarily. Most human interest stories are gold to such columnists. Cutting and pasting such stories to a number of these places could only help raise awareness. It doesnt take many people to contact a journalist for them to take an interest, but it is difficult for them to find such stories if we dont contact them and let them know whats going on.
Thats a good list of places to contact Anna, if only a few of them would publish stories.
This whole not filing accounts and such things does raise the question of the level of trust that a 'customer' of such an organisation has in that organisation. In a just world, we would have the grounds to refuse to communicate with them for being untrustworthy. As it is, the umbilical cord handed over by BIS keeps such rights firmly in Erudio's court. They expect us to be honest with them, yet, Erudio, according to BIS's sales line, are not-acting in the taxpayers interest, and could for all we know be trying to screw the 'taxpayer' over. There is an irony in that, something not lost on many of us i am sure.

Pluthero

If erudio lose their license won't arrow global just set up another faceless shell company we deferrers will have to deal with? Will our legally defered loans just be reclassified as bad debt and we will all be hounded by DCAs? Any safe guards built into the sell off??

anna2007

Pluthero wrote: »

If erudio lose their license won't arrow global just set up another faceless shell company we deferrers will have to deal with? Will our legally defered loans just be reclassified as bad debt and we will all be hounded by DCAs? Any safe guards built into the sell off??

Hopefully BIS can give us some answers, so here's a new FOI request which covers the credit licence... and a few other problems/issues/scenarios:

https://www.whatdotheyknow.com/request/erudio_student_loans_limiteds_fa/new

Brooker_Dave

But surely Carval, backed by agri giant Cargil (how come the government always sells our national assets at a knock down price to foriegners?) will move heaven and earth to get the accounts in and to keep the £149 million they paid??

erudioed

Nice FOI request, very timely. I bet they are getting £160 million in bad publicity today!

anna2007

Brooker_Dave wrote: »

But surely Carval, backed by agri giant Cargil (how come the government always sells our national assets at a knock down price to foriegners?) will move heaven and earth to get the accounts in and to keep the £149 million they paid??

Well, they've had over a year to move heaven and earth, so they don't seem too concerned? I misunderstood the accounting dates, companies are given 9 months to prepare and file their annual accounts, so 30/09/14 was the deadline for Erudio to file their accounts, for year ended 31/12/14.

Does make you wonder what the hell's going on. It does make Erudio and the 'consortium' of purchasers look decidedly dodgy (as if they needed any more help with that). And it makes the Government look like idiots.

I can't see there being many companies that so blatantly flout the law when it comes to their annual accounts? But maybe it's the norm for these 'shell' companies.

Brooker_Dave

anna2007 wrote: »

I can't see there being many companies that so blatantly flout the law when it comes to their annual accounts? But maybe it's the norm for these 'shell' companies.

https://www.thegazette.co.uk/all-notices/notice?sort-by=latest-date&text=EC2R+7AF&location-distance-1=1&categorycode-all=all&numberOfLocationSearches=1&results-page-size=10

anna2007

Brooker_Dave wrote: »

https://www.thegazette.co.uk/all-notices/notice?sort-by=latest-date&text=EC2R+7AF&location-distance-1=1&categorycode-all=all&numberOfLocationSearches=1&results-page-size=10

!!!!!!?!! Wilmington Trust like to keep the liquidators busy then.

So IF that's where Erudio are headed, and as our loans are Erudio assets, Erudio's creditors (is that Arrow Global/Carval, or are they the owners?) can make a claim on those assets, otherwise they'll be "distributed" between Wilmington Trust's members, whoever they might be... M&T bank, which owns WT?

ericctheking

And it is no wonder BIS refuse to release the due diligence report because there may not even be one and they may be a bunch of corrupt individuals . I think there may even have been bribes etc.

ericctheking

anna2007 wrote: »

So IF that's where Erudio are headed, and as our loans are Erudio assets, Erudio's creditors (is that Arrow Global/Carval, or are they the owners?) can make a claim on those assets, otherwise they'll be "distributed" between Wilmington Trust's members, whoever they might be... M&T bank, which owns WT?

That is right people be prepared to have your loans sold on and on and transferred around various shell companies. Maybe next year you won't be deferring with Eruido but another company?! All your private financial details in vultures claws, new DAFs to sign all trying to add new and interesting terms and conditions.

But then again as you were miss-sold the loan in the first place they don't get a penny and the contract you signed is null and void :rotfl: