ERUDIO student loans help

LibraryChick

I wouldn't have known the amount unless I had asked about the DD!

erudioed

i think we all need a united front on getting Arrow to change their approach in relation to the first DD being taken after the deferment period ends.
They need to either change the deferment form deadline to 28 days before the deferment period runs out, or change the date of the first DD to 28 days after the deferment period ends to give them time to process deferment forms.
Alternatively they could just suspend payments being taken if someone returns their form before the deadline. Either way, when we return our forms there must be a 28 day buffer before payments are taken.
This is a problem that will plague most of us every year from now onwards, so this issue is one that has a tangeable solution...if Arrow really do want Capita/Ventura to treat us fairly (instead of relying on a months worth of interest after transferring our cash into their account before they have gotten around to processing our forms).

JeLaw

erudioed wrote: »

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.

Thanks for posting - and for your research into this seemingly phantom company.

Regarding the parts of your post that I've highlighted:

1. Maybe this is wishful thinking on my part - as a means to further our cause - but I wonder if there's any tax avoidance involved?

2. Unsavoury describes it up well!

3. Your detailing of their approach so far in dealing with us: All of this suggests they aren't fit to be trusted with our loans. Is there any kind of breach on their part? For example a few payments being taken when they shouldn't could be forgiven as a mistake. But on the scale it's been so far?

JeLaw

LibraryChick and Erudioed,

Unless I've misunderstood, information provided by others on this forum, Erudio can't take payments when there's a delay in renewing the deferral - if the fault for the delay is theirs.

In which case you have the right to cancel your direct debit agreement - since we're not obliged to have one in place if we're eligible for deferment. And cancelling a direct debit agreement would be completely understandable under the circumstances - them taking money from accounts despite people being in deferment!

Maybe someone else on here would be able to confirm this.

erudioed

@jetlaw: I dont know the answers to be honest to most questions, other than whichever company does decide stuff, they should be doing it without poking us.
I am very sure tax dodging is invloved somewhere along the line. After all, our supposed boss Mark Filer has a couple of his 220 mega dodgy enterpises registered in the channel islands. And some of those like those within Carval offer services on how to best stash your cash around the world and such things. I dont trust them as far as i can throw them, after all the people who we are dealing with havent even told us yet who they are. If that isnt dodgy, whether legal or not, i dont know what is. It is like me pretending to be you and deferring on your behalf, but not telling anyone. All things are supposed to be equal but most the time they are not, and here is one case when we have been sold down the river by our own government!

calliopeviolet

Librarychick: 46 weeks? Good God! That's appalling.

If you need to phone them again, don't use the 0845 number, call them on this one: 0113 3189010

fermi

Rosskie wrote: »

Cheers Fermi, very much appreciate the feedback.

Oh and Erudio certainly CAN add a default to your file if you don't pay under the agreement when payment is due.

I'm afraid it is complete nonsense to say that they cannot. The sale of student loans legislation and an assignment gives them the right to do that as SLC could, and do not need your agreement or signature for them to do so.

fermi

Erudio can also issue a default notice under s87 of the Consumer Credit Act 1974. They have every right and ability to do so that that SLC had, as ALL contractual and legal rights were transferred to Erudio under the loan sale.

You have to understand that this sale of loans is very different to the normal sale of distressed accounts to debt collectors. They were sold under legislation enacted for that purpose.

BaffledByErudio

I have a matter of days now until my current SLC-instated deferment ends. I've worried and panicked for a while now (I shouldn't have - I'm earning just over a grand a month) and I've been checking my bank account daily.
I had to go out of the country last week and found myself slipping away all the time to access wi-fi to see my bank account.
It's ridiculous. It shouldn't be like this. It's soul destroying.
Fact is that Erudio have had my deferment form for weeks now. They have my payslips and P60, all my contact numbers, my address status (perhaps I gave them more than I should have) and yet they still keep saying 'it's only just on our system' etc. It's a farce.
We're all doing what we are meant to. We aren't scammers, yet, let's face it, it's practically impossible to get a single sensible response from Erudio. One call they'll say 'cancel direct debit if you're worried', the next they'll say to do so would be a breach of the Ts&Cs.
What are they trying to do? Drive us insane?
I know one thing for sure, I can't afford to suddenly stump up £130 a month for the next 60 months. I teeter on the edge of passing my overdraft limit as it is!
I have it in writing from Erudio that a DD is not a condition of deferment. So, even if they don't defer me in time, the DD is being cancelled (why it's bloody there now when I'm still under the SLC imposed deferment I have no idea) and even if it pushes me into default, it will only be for two reasons. Either they don't defer me before my current deferment ends, or they reject my application, which would be ridiculous because I've sent more evidence of my income than ever before. They have to cut us some slack. We're not breaking any rules. They've already kicked us in the privates by exercising their credit report muscles, so surely let us at least defer!

ericctheking

fermi wrote: »

You have to understand that this sale of loans is very different to the normal sale of distressed accounts to debt collectors. They were sold under legislation enacted for that purpose.

So this foreign company owned by Americans picks up this juicy piece of debt which is special and can not be written off in bankruptcy. etc!