ERUDIO student loans help

cluelessfish

Just had letter from Honours student loans informing me that

" We are writing to let you know that we are upgrading to a new IT platform and changing the servicer that we use to administer your Honours Student Loan. As a consequence, we will be migrating your Direct Debit instruction to the new servicer."

Exactly same opening paragraph as Erudios letter from end of November. The rest of the letter is almost exactly the same. Biggest difference is that

" yes, the narrative that appears on your bank statement will change from Student Loans Honours to LFO limited."

Erudio said they were changing all the same things but bank statements would not change.

Can both Erudio and Honours letters be correct?

Also noticed that Honours letter has Company Name and address in the top right, which I believe is the correct way to start a letter. Where as Erudio has just the company name on the top left and leaves address to small print.

Mr_McGuffin

LFO Ltd?

Link Financial Outsourcing Ltd?

https://beta.companieshouse.gov.uk/company/07059696

Honours accounts overdue:

https://beta.companieshouse.gov.uk/company/03702189
https://beta.companieshouse.gov.uk/company/03716001

Brooker_Dave

Mr_McGuffin wrote: »

LFO Ltd?

Link Financial Outsourcing Ltd?

https://beta.companieshouse.gov.uk/company/07059696

Honours accounts overdue:

https://beta.companieshouse.gov.uk/company/03702189
https://beta.companieshouse.gov.uk/company/03716001

"Mignon CLARKE Total number of appointments 116"

"Mark Howard FILER Total number of appointments 506"

No surprise that the accounts are late given their workload:rotfl:

erudioed

and just to put the cherry on the cake from its annual statement:
"The company's ultimate parent undertaking is GSPL Holdings Limited, incorporated in British Virgin Islands..."

theres another of those common themes in all this student loan sales guff.
It makes you wonder that if most of the money flows out of this economy into another, where the actual benefit to the UK taxpayer is? I would argue that the economy will probably make a net loss after wages, the initial token fee for the non-performing loans, other fees have been added up, and the money they actually collect and magic away is subtracted.

anna2007

Here's an interesting FOS decision that's been added to their site - let's ignore their perverse reasoning over credit searches and focus on the part that says a settlement was reached to "do away with" the DAF, after a court action was raised against Erudio:

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=102069

Proof that Erudio will cave, anyone complaining to Erudio about completing their DAF should maybe include a link to this FOS decision.

I got another reply about amendments to the DAF (I sent the email to the ghost CEO, the Arrow Global guy named on FCA register, and Erudio CS). This reply came from CS (their Operations Manager already replied last week to say all was ok), they either don't have a clue or it's a lame attempt to confuse:

Regarding your email on the deferment forms, if any deferment form is amended or defaced or changed in any way from the original documentation we send then this will be declined,

You are correct in saying it is not a legal requirement for you to fill in a deferment, if you wish to defer your Erudio student loan with us we require you to fill out in the forms we provide.

Your existing deferment is still valid and due to expire 9th June 2016, we will send you a reminder and new form 6 weeks [shouldn't that be 8 weeks?] prior to this date.

There it is, not a legal requirement. And I changed (pretty much defaced) their DAF, but they accepted it and the deferment still stands. Maybe they'll say this is a new policy and refuse an amended DAF next time, but I'm using letter and proof of income come April, as they've confirmed there's no legal requirement for the DAF.

anna2007

I watched a programme on BBC iPlayer last night - The Town that took on the Taxman - well worth a watch to understand how this whole tax avoidance shenanigans works. It was a real eye opener for me, I had no idea how easy it was. It explains clearly how the ordinary UK taxpayer (it's not only small business, which is the focus of the programme) is being royally f'd over by these big, corporate companies and the Government in their complicity, also the role the likes of Mr Filer and Ms Clarke have, why they have so many appointments as "directors".

I honestly hope the town of Crickhowell's brand (intellectual property) catches on!

erudioed

I saw the taxman doc as well, it was very interesting. Russia Today just released a doc on the parent company owner of our loans, Cargill Inc. , Here is the write up:

American multinational Cargill trades in food commodities. It purchases, trades and distributes all of the basic ingredients on our plate - from meat to oil and cereal. At €121 billion (US$130 billion) a year, its turnover is twice that of McDonald’s and Coca Cola combined, and larger than the GDP of Hungary - yet few know the name. Today, this giant is at the center of controversy regarding the destruction of food crops (and local jobs), pollution and deforestation. In France, the US and Latin America, farmers and residents are sounding the alarm about the negative consequences of the global agri-business.
We investigate this multinational, which is also suspected of having indirectly caused the 2008 hunger riots by speculating on certain commodities. The vice president of Cargill goes exclusively on record for us to respond to various charges.
https://www.rt.com/shows/documentary/329775-cargill-company-pollution-deforestation/
No reason why we shouldnt feel safe about our financial details and personal info being in its clutches then...


It should be 8 weeks before for certain that the DAFs should go out. That is legally binding from what i understand.
That letter Anna includes from Erudio sure looks like they are treading that grey area again of saying no but then seemingly saying the opposite. Surely that is deliberately confusing and anyone reading it, be the ombudsman or other, would have to agree with that....if they understand english that is, which clearly they do.

rizla_king

anna2007 wrote: »

You are correct in saying it is not a legal requirement for you to fill in a deferment,

think they mean its not a legal requirement for you to fill in the form and defer if you qualify. i.e. you could legally not bother and pay, or let it go into arrears. your choice.

anna2007 wrote: »

YYou are correct in saying it is not a legal requirement for you to fill in a deferment, if you wish to defer your Erudio student loan with us we require you to fill out in the forms we provide.

so if you DO want to defer they require one

Brooker_Dave

anna2007 wrote: »

I got another reply about amendments to the DAF (I sent the email to the ghost CEO, the Arrow Global guy named on FCA register, and Erudio CS). This reply came from CS (their Operations Manager already replied last week to say all was ok), they either don't have a clue or it's a lame attempt to confuse:

I see Erudio are now hiding behind a PO Box in Camberley in Hampshire, GU15 9PA, anyone know what the real address is for them?

Brooker_Dave

Has this been seen before?

"Jim Dobbin: To ask the Secretary of State for Business, Innovation and Skills with reference to the answer of 11 December 2013, Official Report, column 247W, on students: loans, how many complaints (a) he and (b) the Office of Fair Trading has received about changes to the conditions of student loans sold to Erudio Student Loans Limited for loan holders (i) nationally and (ii) in Greater Manchester; what steps he has taken to remind Erudio of its responsibility to uphold the original conditions of the loan; what guidance he has issued to purchasers of the student loan book on how student loans impact credit ratings; and if he will place in the Library a copy of that guidance. [206948]Greg Clark: The Department for Business, Innovation and Skills had received complaints about Erudio Student Loans Limited from 38 loan holders (or their elected representatives) as at 31 July 2014:
12 of these did not specify their location.
of the remaining 26, 15 were from (or about) loan holders in England, of which one was in Greater Manchester.
The Office of Fair Trading was closed on 1 April 2014 and its responsibilities in relation to consumer credit passed to the Financial Conduct Authority. The Financial Conduct Authority does not investigate individual complaints. The Financial Ombudsman Service is a free, independent service for settling disputes between financial services firms and their customers, which can deal with complaints about a wide range of financial matters.
Erudio has been notified of five complaints received by the Financial Ombudsman Service as at 31 July 2014. None of these was from loan holders in Greater Manchester.
Mortgage style student loans are regulated loans under the Consumer Credit Act 1974 (as amended). Terms and conditions are specified in the Education (Student Loans) Regulations 1998 and in borrowers’ loan credit agreements. Erudio Student Loans Limited is regulated by the Financial Conduct Authority for accounts formed under the Consumer Credit Act 1974 (as amended) and must act in compliance with the terms and conditions of the loans, relevant regulatory requirements, industry guidance and all applicable laws.
The Department for Business, Innovation and Skills has not issued guidance to Erudio Student Loans Limited in relation to how mortgage style student loans impact on borrowers’ credit scores, as the Department has no involvement in the credit scoring process."