ERUDIO student loans help

erudioed

I would say Erudio have no staff and that none of us have or ever will communicate directly with them. We are dealing with Capita/Ventura, who are signing off and starting all communications by pretending to be Erudio. Erudio is just a front company who doesnt really exist other than to attract all criticism, set up the deals and funnel cash through. And when there is a problem, Arrow Global's founder and head Zachary Lewy speaks out for them. Mark Filer, the only so far listed person associated with Erudio, has another 227 registered companies in his name, so to expect him to be putting in any work is a fantasy.
Although we havent been told thus far, all the deferment work very much seems to have been subcontracted out to Capita/Ventura. That we havent been told and have had to find this out for ourselves is just another twisted thread in this whole unsavoury business. If anyone wants to bring it to a head, this is the path that needs investigating. I think we (as well as MPs and other people of such positions) would all be very shocked to actually understand the full truth of how this group of companies have come to own our loans.
As the same group behind Erudio is for all intents and purposes behind Honours Student Loans, who ended up with the first bunch of student loans, one would expect to find someone in government or at The Department of Business, Innovation and Skills who has a 'relationship' with them. Same M.O., companies in the background (unless something goes wrong) putting up the cash, a front company to funnel all the cash through and that subcontracts the actual work, followed by a pretty dishonest approach to pressuring people to pay back money, which in this case, thus far involves blatant confusion, implicit threats in paperwork, theft from bank accounts, sale of info to CRAs, passing on our personal info to unnamed subcontracted companies and seeming disdain when hearing the complaints of its 'borrowers' when they have a problem or concern.
Blaming Erudio is like blaming a dead person for something they have done post-death. Erudio's role is served now and has a long summer holiday until all accounts have been closed and The Wilmington Trust, i assume, can shut it down as a business in 15 or so years.

WallyP

Phew, finally got to the end of this thread... So far so good, I've sent my form off and there is a DD in place on my account for them (though they don't appear to have taken any money - so far)... I am, as is everyone else, very suspicious of the extra information they are asking for, so have simply filled in what I felt was relevant and sent off my last 3 wage slips and my P60...

Am in a bit if a quandary now though, I've always earned just under the threshold for paying back but last year I stupidly gave birth to my 2nd child and now the extra I'm "earning" in child benefit takes me two quid (yes TWO QUID) over the monthly limit (the fact that any benefits are taken into account is utterly disgusting but there you go).
I'm ok this year as I'm on maternity leave so am on SMP for 3 months and zero wages for 3 months but next year will be a problem. If it weren't for the fact that I'm getting so close to the 25 years I wouldn't be too bothered about paying it off but now I've got this far it's a bit of a niggle, especially as it's the fault of my uterus and not my glittering career that is bringing this burden crashing down around my ears. Incidentally does anyone else think they were sold in a panic because the 25 years is getting frighteningly close and we're still not paying it back yet?
Reducing my hours would get around it BUT I claim childcare vouchers, which a lot of the "internet" claims is taken into account by the student loans companies. It does state on the new form though that your gross income is the amount before things such as childcare vouchers so who is right? Have the childcare voucher schemes got it wrong or is it another trick by Erudio??

Beezmouse

Can anyone confirm the 25 year write off please. My understanding is that the 25 years only applies to loans for people who studied at English universities. I studied in Scotland and I'm sure that the loans don't get written off until I'm 60.

Rosskie

If under 40 when loans taken, written off when 50 or after 25 years. If over 40, written off when 60. Think thats right anyway. Doesn't matter where studied.

Sarebear78

WallyP wrote: »

Am in a bit if a quandary now though, I've always earned just under the threshold for paying back but last year I stupidly gave birth to my 2nd child and now the extra I'm "earning" in child benefit takes me two quid (yes TWO QUID) over the monthly limit (the fact that any benefits are taken into account is utterly disgusting but there you go).

I think it is so wrong that Child Benefit is taken into account - that is the child's money.

It might help but you know you don't have to claim the money for child benefit - you can ask that you receive no payments, I think. For example, everyone is entitled to it but households where one person earns over £50k or something have to pay it back via a tax return. This can be stopped from happening by calling HMRC and saying you don't want to receive payments from now on. So anybody should be able to do this, in theory.

Hope that makes sense

Rosskie

Interested in opinions - Erudio have defaulted on the CCA requests I sent them so I'm ignoring deadlines/irrelevant correspondence untill they sort this out. Legally my accounts in dispute and the law is on my side, what would you do if you were in this situation?

fermi

See http://www.oft.gov.uk/about-the-oft/legal-powers/legal/cca/unenforceable-credit-agreements

if this information is not provided within 12 working days the debt becomes unenforceable. This means a creditor:

• cannot:
  - make the debtor pay the debt before they're supposed to
  - get a court judgment against the debtor
  - take back anything hired or bought on credit, or take anything used as security in the agreement.
• can:
  - ask debtors to pay what they owe
  - send a default notice
  - pass information on to a credit reference agency
  - pass information on to a debt collector
  - sell the debt to someone else
  - take the case to court.

AFAIK default under a CCA request has no impact on whether you should defer or not, and the consequences on that if you deliberately miss those deadlines.

It doesn't put the account legally into dispute. That is a nonsense peddled by some. Not in the sense that you can just ignore your responsibilities anyway. And as is likely if they are able to get copy documents, or reconstitute copies as they are allowed to do, then the loans would be enforceable again even by a court, and if you've built up arrears by ignoring deadlines then you may be chased aggressively for those or risk having your entire loan recalled.

I know several people who requested agreements from SLC a few years ago, and they were eventually able to supply copies.

CCA request is excellent for getting information, and if you think court action may be imminent or as a potential ace in the hole to hold if you think that may happen, but it's not the magic bullet that some people seem to think it is.

Bets practice is to proceed as you normally would, and hold it in reserve if they get awkward and start threatening legal action etc.

i.e. get your weapons together, CCA, FOS complaint, data protection dispute etc, but don't give them in return an excuse to label you a non payer and recall the loan or slap on arrears if you don't have to right this moment.

fermi

---> Money alert: Erudio Student Loans and the Ombudsman

Former students being aggressively chased for debts are being advised to turn to the Financial Ombudsman Service if they are unhappy with the way they've been treated.

The Ombudsman said: "If you feel you've not been treated fairly by a debt collector, or that they are not taking your circumstances into account, get in touch – we are here to get things sorted."

Students from the 1990s are being targeted by Erudio Student Loans, which bought the debts from the Government last autumn. Those concerned have repayments deferred because their wages have stayed below an earnings threshold.

Yet many have had money wrongly snatched from their accounts by Erudio, owned by Arrow Global.

When the wrong payments have been pointed out to the firm, Erudio has apologised and repaid the money, or the fed-up former students have reclaimed it under the direct debit scheme after confirming money was taken in error.

But if they don't get satisfaction they can turn to the Financial Ombudsman Service. Details at www.financial-ombudsman.org.uk/

Rosskie

Cheers Fermi, very much appreciate the feedback.

LibraryChick

So, I sent my deferral form back ten days ago. Deferral is up to 9 May this year - not long. I usually sort it out way before this but have been ill - that's by the by. I am well below the amount you need to earn each month. Yesterday I rang to ask if they had got the form and how was the deferral process going. After being put on hold for 10 minutes - thanks that's an 0845 number, I dread to think! I was told that they were 46 weeks behind schedule. I said 'do you mean 4 to 6 weeks?' No - 46!! So what happens on 9 May then? They said we will use DD to take money out of your account. How much I ask them £114. Anything I can do to stop that? Yes, said the 'advisor', talk to the bank ask them to refuse DD payment to ESL. Apparently there is nothing they can do at their end to prevent the DD going through. Reading the posts has confirmed my doubts about this - as it may breach the conditions.
Any suggestions?