ERUDIO student loans help

rizla_king

Zed2707 wrote: »

I may have declare myself bankrupt

Not wiped out by bankruptcy as far as I know, so would be a waste of time doing it for just those.

fermi

No. Student loans are not provable debts in bankruptcy, DRO, IVA etc and they can't written off under one.

ericctheking

fermi wrote: »

No. Student loans are not provable debts in bankruptcy, DRO, IVA etc and they can't written off under one.

I can see how that can be the case for a government debt but how can that be when it is owed to a private company. That sounds ridiculous! Any come back on that?

fermi

ericctheking wrote: »

I can see how that can be the case for a government debt but how can that be when it is owed to a private company. That sounds ridiculous! Any come back on that?

It's because the exemption is not based on who owns the debt at any point in time, but that the liability originated due to a student loan made under the Education (Student Loans) Act 1990 or the Teaching and Higher Education Act 1998.

ericctheking

fermi wrote: »

It's because the exemption is not based on who owns the debt at any point in time, but that the liability originated due to a student loan made under the Education (Student Loans) Act 1990 or the Teaching and Higher Education Act 1998.

So that is why they were so keen to get their grubby mitts on them.
Do student loans die with death even?
Surely being able to discharge debts is a right?
Still seems crazy that a private company can have that control over a debt???? Can that not be challenged in anyway? It doesn't seem right at all. It is almost anti-capitalism in a way.

fermi

Yes, they are cancelled when you die. That is in the legislation and on the loan agreements as I recall.

erudioed

If a company were particularly terrible at upholding things promised over the phone, sending out mails and generally causing chaos in the lives of those they touch, lying, taking money and not upholding rules etc, especially when considering it is a company handling personal information, is there any kind of gross incompetence that can be claimed. Especially if thousands of signatures could be gathered testifying to that.

rizla_king

If there was, the whole debt collection industry would be rapidly go out of business.

Lying, cheating, incompetence, and breaking the rules are standard industry practice.

rizla_king

from mn and independent

http://www.independent.co.uk/money/loans-credit/erudio-student-loans-row-graduates-fear-company-will-pass-on-deferred-loans-details-9270219.html

The row over deferred student loans continued this week as 45,000 former students from the 1990s have been coping with fresh demands for information from Erudio Student Loans, the debt collector that bought the loans from the Government.

Graduates fear the company will pass on details of deferred loans to credit reference agencies, leaving a black mark, although Experian suggests that the move could improve people's ratings.

There have also been accusations that the company has changed the terms and conditions of the loans, although it denies that.

For one Independent reader, it's been a nightmare. She had money taken from her account last week even though her loan is deferred.

When contacted by The Independent, Zachary Lewy, the founder of Erudio's owner, Arrow Global, stepped in. "Erudio has clearly mishandled your case," he said.

To apologise the firm has put £100 in our reader's account, but her fears remain, and she asks: "How many other former students have been unfairly hit by this company taking cash that it shouldn't?"

BillJones

rizla_king wrote: »

If there was, the whole debt collection industry would be rapidly go out of business.

Lying, cheating, incompetence, and breaking the rules are standard industry practice.

Sadly it's probably in response to the people from whom they are trying to collect, who are even worse.