ERUDIO student loans help

fermi

Not surprising I must say.

eroneo

Did anyone get anywhere with the Information Commissioner?

To those of you who filed complaints, is it worth it?

What did they say about the SLC not fully informing prospective borrowers how their data would be used (as it is now by Erudio)? - Breach of 1st principle.

Did they find that Erudio were 'further processing' data for purposes incompatible with purposes it was originally collected for? -Breach of 2nd principle.

Did anyone find out any details of whether borrower data has gone into the Arrow Proprietary Collections Bureau or Experian Collections Network and who it has been shared with after that?

anna2007

Brooker_Dave wrote: »

Is there anything compelling them to do so?

The ombudsman's instructed Erudio to either get clearer copies from SLC or provide reconstituted copy agreements. If I accept the FOS decision and Erudio don't comply, there's the option to get it enforced through the courts:

http://www.financial-ombudsman.org.uk/publications/factsheets/enforcing-an-ombudsmans-decision.pdf

@ fermi I'm not really fussed if Erudio see little point in providing the copy agreements - it's more for my own benefit, so I know exactly what the agreement says, in case I need to take them to court.

Brooker_Dave

"The Delaware Advantage"

"A Delaware trust can often last longer than trusts established in many European countries. Not only can transfer taxes be minimized, holding assets in trust can be an effective means of shielding those assets from future creditors' claims. A well-planned Delaware trust can provide access to trust assets for present and future generations."

https://www.wilmingtontrust.com/wtcom/index.jsp?fileid=3000131

BorderReiver14

anna2007 wrote: »

I received the ombudsman's final decision this morning...

No surprise regarding the credit reporting - she thinks Erudio is entitled to share the deferral information. There are a few points worth mentioning though -

I said it was unfair that Erudio wasn't letting me know when the loans would be reported to CRA's, the ombudsman says "Erudio has informed us that it intends to start reporting information to the credit reference agencies at the end of 2015".

She states that I may wish to challenge the interpretation of credit reporting in the courts, so it's good to know that if I accept the FOS decision, I can still use the courts if/when the loans are reported to CRA's.

Having read what many other people have wrote on here and elsewhere including those with a legal background I just cannot see how they think they can get away with reporting information to CRAs... And knowing how they operate the fact that they 'plan' anything is laughable. I just don't think they will want this tested in court.

Edit... The FOS really are witless... No wonder ESL were so happy for us to get them involved!

halfpricedebt

I don't think it would be beyond the realms of possibility for all of us to club together and take Erudio to court. I think it's likely they won't hand over proper copies of the agreements and they haven't been transparent or maintained the standard we were told we would receive when the loans were sold to them. I've now waited a month for a reply to a settlement letter while another one of us had an agreement to settle.

This really shouldn't be getting to 200+ pages since this whole thing started and there's no court action yet. They've broken the original terms by saying they will be flagging payment holidays for those in deferral and reporting the loans to CRAs. It's time we took the fight to them, together. Individually we are just lots of angry voices that they can swot away. If we all tackle them then they have to listen.

Brooker_Dave

Problem is they always capitulate before anything ever gets to court leaving you with a solicitors bill to pay.

It's a shame the Teeside Anthony Reeves case was kept secret as it would be interesting to know what the outcome was.

Brooker_Dave

halfpricedebt wrote: »

This really shouldn't be getting to 200+ pages since this whole thing started and there's no court action yet. They've broken the original terms by saying they will be flagging payment holidays for those in deferral and reporting the loans to CRAs. It's time we took the fight to them, together. Individually we are just lots of angry voices that they can swot away. If we all tackle them then they have to listen.

If we lived in a country with genuine financial regulation things would be better.

BorderReiver14

I think we can hazard an educated guess how previous court cases have worked out. ESL settled out of court paying costs on condition that those individuals signed a secrecy agreement, thus ESL could continue unchallenged by any legal ruling to bend the agreements and make 90% plus of ex students cough up the money.
This is why they are so keen for people to use the FOS as they have shown they will make no meaningful rulings on the use of DAF or the CRA issue.
If they did report those in deferment to CRAs then I am sure they would be relying on those who have used their DAF.

anna2007

Brooker_Dave wrote: »

Problem is they always capitulate before anything ever gets to court leaving you with a solicitors bill to pay.

It's a shame the Teeside Anthony Reeves case was kept secret as it would be interesting to know what the outcome was.

I imagine the outcome was settlement of the claim, with an amount of compensation, in return for non-disclosure? If someone refused the non-disclosure clause in order to get the legal point tested in court, there's a risk that person will be found liable for all costs, for acting unreasonably in not accepting the settlement. It's the small claims court after all, and a big risk for one individual, which Erudio is well aware of.

We've talked about a group action before, I thought 'class action' type cases weren't possible in the UK? So it would have to be one person taking it forward, with financial support from others - that's what Anthony seemed to be proposing anyway.

Maybe some kind of crowdfunding scheme - has worked well for the people of Orkney and Shetland, they've raised over £60k to legally oust their MP Alastair Carmichael:

https://www.indiegogo.com/projects/the-people-versus-carmichael#/