ERUDIO student loans help

halfpricedebt

I've deliberately not paid them the full amount because I'm not happy with the way they are operating. I really don't want to hand over £9k just like that just to get them off my back.

Part of me wonders if I should just pay them off to put an end to it all but something seems so wrong about giving them a penny purely because of their debt collecting tactics.

erudioed

halfpricedebt wrote: »

I've deliberately not paid them the full amount because I'm not happy with the way they are operating. I really don't want to hand over £9k just like that just to get them off my back.

Part of me wonders if I should just pay them off to put an end to it all but something seems so wrong about giving them a penny purely because of their debt collecting tactics.

Maybe i am getting mixed up, but didnt you try for a part settlement that was accepted, or something like this. Apologies in advance if i am confusing things.

halfpricedebt

I've been trying for a part settlement but still waiting for a response so instead I've been phoning up to make a payment each month. ThinKing got a settlement agreed but then Erudio took a payment from their account anyway.

I don't understand what is taking so long for them to respond. I've sent them two letters!

Lungboy

I can't see them offering a reduced settlement if you're paying each month anyway. Good luck though.

halfpricedebt

It's because their stupid deferral threshold pushed me into payments or I'd be in arrears. Only other option is to pay until the point the deferment threshold changes and then defer.

In any case, with all their other inconsistencies I doubt they are joined up enough to know I'm paying and asking for settlement.

especially as random advanced payments appear on my account that they can't clarify.

Brooker_Dave

anna2007 wrote: »

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.

If they do report us as being on payment holidays, then a group action based on the miss-selling of the loans would be the way to go.

BorderReiver14

I agree but the issue is a lack of hard evidence needed for court. We know what we were told at the time but literature showing a court that we were told it would not harm our future financial health is a must otherwise its our word vs theirs. I'm sure there must be student advisors about that could be called upon but it would still be risky without the words in print. There are a number of people on here who have searched archives etc and as far as I am aware nothing has been found.
That said, for so many of us to remember this makes me think there must be something somewhere that will prove the miss-selling of the loans 'should' ESL follow through with their threats with CRA reporting.

Pluthero

halfpricedebt wrote: »

It's because their stupid deferral threshold pushed me into payments or I'd be in arrears. Only other option is to pay until the point the deferment threshold changes and then defer.

In any case, with all their other inconsistencies I doubt they are joined up enough to know I'm paying and asking for settlement.

especially as random advanced payments appear on my account that they can't clarify.

The Deferment Threshold will go UP this year, no doubt of that AND we are all watching closely how it is calculated. So depending on you circumstances and how far you are over I would STRONGLY suggest NOT handing over 9K to this shell company if you can possibly help it:) Just pay the monthly rate until the next deferment year and defer the outstanding balance. Obs I dont know if you will be under the NEW threshold but that's how I would play it:)

Would not give them a penny TBH if you are not worried about getting a mortgage any time soon. They will never take court action against defaulters: They NEVER did with the Honors student loans....

anna2007

Pluthero wrote: »

They will never take court action against defaulters: They NEVER did with the Honors student loans....

How do you know that Pluthero? Does that not seem a bit strange, that a lender wouldn't exercise its right to recover defaulted debt through the courts, especially when that lender's a DCA specialist?

It made me wonder if there was a term in the HSL sale and purchase agreement preventing them from doing it? Although even if there was, it doesn't mean the same protection exists for Erudio customers.

Or it could be something more general that applies to all 3 loan sales, e.g. the legal provisions on assignment?

Just strikes me as odd that what's effectively a DCA wouldn't hound a defaulter through the courts.

fermi

Urgent advice required - CC CLaim form pre98 Honours student loans

Drydensfairfax taking me to court on behalf of honours student loans