ERUDIO student loans help

erudioed

From what i recall, Arrow Global control all decisions in relation to policy, approach and accountability. They manage the loans on behalf of CarVal investors, whose HQ bank account is Luxembourg, with the company actually listed on the front of the S&P agreement as the SPONSOR. I cant remember where Harrogate Holdings fits it but i looked at it a while back and it looks equally as dodgy. Erudio Student Loans Ltd is where the financial stuff ibreakwind refers to gets divvied up. Capquest would only be responsible for customer service !!!!-ups. However, only Erudio gets stick for customer service !!!!-ups because Erudio is the company that has, on paper, subcontracted the work out to Capquest. So much revolving around a company with zero employees, its amazing the whole operation is a total clusterf*ck.

Brooker_Dave

anna2007 wrote: »

Didn't Arrow Global buy out Capquest a while back? So Capquest is Arrow Global and Arrow Global is Erudio (which only exists on paper as a 'Special Purpose Vehicle', whatever that really means) and all of them are Erudio Customer Management Ltd, the 'new' servicer of our loans. So no loans have been sold on, they're just being passed around different parts of the same dodgy setup, probably for equally dodgy reasons.

Edit: Cross-post with Erudioed

Indeed, Erudio Customer Managment seems to be Capquest, so it's a bit of a coincidence that the same firm who lost his new address letter still managed to write to him and call in the loan.

And yet another example of the FOS being not fit for purpose, proper regulation of these sharks is needed.

BorderReiver14

Erudio has current 'interim permission', which Anna has pointed out is soon to run its course and as we know is only a 'conduit' serviced by Capquest, its authorised Primary Servicer. Erudio is a 'Special Purpose Vehicle', so when it applies for full authorisation it's aim will be to receive the benefit of 'SPV Exemption'... In other words the regulators will be even more hard-pressed to make the !!!! stick to Erudio (nothing but a name) which stays clean, while the servicer takes the hits (too many hits and the baton moves to a new servicer).

FuriousFeline

It seems as if 'Erudio' is just a front for Capquest. If you search on Google for Erudio Student Loans in relation to Linkedin, no employee profiles come up. However, if you search for Capquest (or Arrow Global), plenty come up. Quite a few of the Capquest profiles are for people located in either Glasgow or Guildford- no surprise given that Erudio's call centre is situated in Glasgow and the address for postal correspondence is located in Guildford.

BaffledByErudio

I see Martin Lewis is currently on 'The Agenda' (ITV's sort of version of Question Time). Also on the same panel is George Osbourne. Just imagine. Just imagine.... if he raised the subject of student loan sales. Obviously, he won't as the topic is far too small fry for the general population (seemingly). But we can dream!

Brooker_Dave

FuriousFeline wrote: »

It seems as if 'Erudio' is just a front for Capquest. If you search on Google for Erudio Student Loans in relation to Linkedin, no employee profiles come up. However, if you search for Capquest (or Arrow Global), plenty come up. Quite a few of the Capquest profiles are for people located in either Glasgow or Guildford- no surprise given that Erudio's call centre is situated in Glasgow and the address for postal correspondence is located in Guildford.

Capquest are on Farnborough Business Park, opposite Costco, if anyone wants to pay them a visit.

For some reason, like the rest of the Erudio family, they seem to hide behind PO Boxes.

erudioed

Capquest isnt a front for Erudio. Erudio is a front for Arrow Global, CarVal investors, Cargill Inc, everyone else yet to be named and everything else through where the money flows. Capquest are just a service provider like Capita.

anna2007

FuriousFeline wrote: »

If you search on Google for Erudio Student Loans in relation to Linkedin, no employee profiles come up.

That's because Erudio has no employees at all, confirmed in their annual accounts:

https://beta.companieshouse.gov.uk/company/08605918/filing-history

No wonder Erudio's customer service is non-existent and the DAFs aren't sent out on time

dadsgoneshopping

Hi,
I was due to receive my deferment forms 2 weeks ago, still nothing (surprise surprise), Obviously I am going to complain to Erudio, but should I wait until the forms arrive or just dive straight in.
extra info: Last year Erudio mucked my application up and paid me £100 compensation.

erudioed

dadsgoneshopping wrote: »

Hi,
I was due to receive my deferment forms 2 weeks ago, still nothing (surprise surprise), Obviously I am going to complain to Erudio, but should I wait until the forms arrive or just dive straight in.
extra info: Last year Erudio mucked my application up and paid me £100 compensation.

So even though it was due after erudio's made up apology, they are still undertaking the same policy! You have to give them credit for not caring about whats coming...
I'd lodge the complaint that your DAF didnt arrive as it should have done etc with Erudio as soon as. You will be closer to getting a complaint in to the ombudsman after Erudio replies by continuing with its big lie and failing to take responsibility for this ridiculous situation it has created. I think you should go for double or quits this year :beer:.