ERUDIO student loans help

Edwood_Woodwood

Any thoughts on the following, anyone -

http://www.legislation.gov.uk/ukpga/1974/39/section/55B


Now, the Act states that an assessment of the creditworthiness of the debtor must be undertaken before making an agreement.

That assessment must be based on information from the debtor, where appropriate, and a credit reference agency, where necessary.

We know that creditworthiness wasn't assessed for student loans, either in the legislation or the agreement.

I fail to see how Erudio can claim to treat student loans like any other loan as it appears they are improperly executed in the first place to be treated like any other loan.

Edwood_Woodwood

In relation to the above -

Should a borrower be entitled to defer their loan for a full 25 years, like myself, then for Erudio to mark any entry on credit files as a payment holiday is inaccurate reporting.

In effect, no repayments would ever have become due during the 25 years so there would have obviously been no payment holiday undertaken by the borrower.

If anything, it is more accurate to report as payments up to date, as it is the government who effectively pays the student loan in write off.

Erudio may argue they are entitled to report as payment holidays, however, once the 25 years is reached and write off is achieved without ever having the need to make a single repayment, then their reporting will prove to have been inaccurate.

Erudio will be open to legal action from borrowers who eventually reach 25 year write off without ever needing to make a repayment.

Brooker_Dave

Looking at the various forums, Carval / Erudio have clearly finished what ever they were doing regarding the outstanding problems with the loans, and moved on to sending out termination notices enmasse.

Presumably the next step is to pretend to sell the debts to DCAs who will then hound people to pay up along with excessive fees?

Brooker_Dave

Edwood_Woodwood wrote: »

In effect, no repayments would ever have become due during the 25 years so there would have obviously been no payment holiday undertaken by the borrower.

The payment holiday thing may just be coercion designed to make the loan holders pay up when they have no need to.

If we had genuine banking regulation in this country companies would not get away with this.

Coercion is a two way street though, there's no reason why the victims of Erudio cannot track down Mr Filer and the others involved and make them aware of their companies shortcomings face to face.

Given Arrow like to use the threat of home visits, perhaps they'd be more that happy for a few of us to pay them a visit?

kern_debug

I found an email response from "complaints at erudiostudentloans.co.uk", to the email I sent to Mark Filer's address. I had sent a paper letter each to Camberly, and Filer's registered company address (recorded).

Erudio's email stated
" As this matter relates to an issue that was previously addressed as a formal complaint, Mr Filer has asked our department to respond to you."

Included were a bunch of electronic documents, one of which was an image of a letter to me. The gist follows here :

"Firstly, I would like to apologise that you have not yet received a response to your letters,dated the 14 th and 27 th June. Having reviewed our records, I have found no evidence of these letters having been received by Erudio....

In order to defer your repayments, Erudio required a completed Deferment Application Form (DAF) which you refused to provide...

Erudio feel that we have addressed this matter sufficiently within our previous response to your complaint...

This matter was also then escalated to the Financial Ombudsman Service, who were unable to uphold your complaint...

Moving forwards, if you would like to apply for deferment, Erudio require a completed DAF and up to date evidence in support of any income declared. I have attached a new DAF for you to complete and return...

If your application can be accepted, Erudio can offer to backdate your deferment by a maximum of three months. In the process, three months worth of arrears can be removed however any further balance will remain due...

Whilst in deferment, there is no obligation to contribute towards an arrears balance however this is advisable as any arrears will affect your loan cancellation rights. If you would like to discuss an affordable repayment plan, please ...

I hope that I have now been able to confirm Erudio’s position on this matter...

Erudio do not believe any further investigation would add any value to the resolution of your complaint. In the circumstances, Erudio will not respond to any further correspondence relating to the issues we have addressed in this response and our previous correspondence.


#############################

In relation to your additional enquiry, I can confirm that Erudio undertook a remediation project, after taking over your loan account from the Student Loans Company (SLC). This was after it was discovered that the format of some previous statutory notices issued by SLC was not compliant with the Consumer Credit Act (1974).

Whilst this matter was rectified, some further statutory notices were suppressed, until Erudio could ensure these were correct. The project also involved freezing interest for the period of non compliance and reviewing the balance of each loan account.Once remediation was complete, a ‘Remedy of Account’ pack was issued. Enclosed within this pack was a copy of any arrears notices or annual statements which had been previously suppressed or which required revision.

Yours sincerely
Catriona Gatenby
PO Box 1055
Cornwall House Albany Park
Camberley
GU15 9PA "

Brooker_Dave

kern_debug wrote: »

Yours sincerely
Catriona Gatenby
PO Box 1055
Cornwall House Albany Park
Camberley
GU15 9PA "

http://www.kgsltd.org/Home-FormsProcessing.aspx?

Brooker_Dave

Weird how GU15 9PA does not seem to match the rest of the address?

Should be:

Cornwall House, Albany Park, Camberley, Surrey GU16 7PL

What are they trying to hide??

kern_debug

That is just nearby I guess. Erudio might use them I suppose.

Brooker_Dave

Or are they the new subcontractors?

Brooker_Dave

It's like a hybrid address, a mix of Erudio's PO box one and KGS's real one.