ERUDIO student loans help

plong979

I mentioned court in my letters but they didn't seem to have an effect. Like you said I have shown every year to be under and that's what the terms says. I tried using the new DAF but signed and attached the SLC to it as that are the original terms, they didn't accept it.

Just see what the post brings. Expecting a letter tomorrow as that's when they usual arrive, just in time for the weekend.

Yeah I sent him a PM but never got a reply.

anna2007

My annual statement arrived today, which as usual is full of holes, completely rotten in Denmark - must be the 'purporting (just pretending!)' part mentioned in the SPA - Arrow Global obviously aren't permitted to give borrowers an accurate statement.

Really didn't expect things to have improved, but I like how Arrow Global keep gifting these FOS complaints. Except at the moment it's all directed towards "Erudio", (the piece of paper) detracting from the actual culprits.

Erudio, the piece of paper, has now confirmed it has no reason to be regulated by the FCA, as it, the piece of paper, is exempt:

The customer accounts owned by Erudio are administered on its behalf by the Arrow Global Group (Arrow Global). Arrow Global Limited, which is part of Arrow Global Group, received full FCA authorisation on 18 August 2016. During the authorisation process the FCA concluded that Erudio fell under the exclusion in article 60l of the Regulated Activities Order and the exemption in article 55 of the Exemptions Order. As a result of this, Erudio is exempt from the requirement to obtain FCA authorisation in its own right and, from 18th August 2016, Erudio now operates under Arrow Global Limited’s FCA authorisation.

Talk about working the system. "Erudio" is exempt from authorisation. That piece of paper we're supposed to call our 'lender' is confirmed as "Arrow Global Limited", which 'Erudio, the piece of paper, now tell us on their website is responsible for administration of the accounts. Must be true, the website and the annual statement both say:

Erudio Student Loans Limited is registered in England and Wales with company number 8605918. Its registered office is c/o Wilmington Trust Sp Services (London) Limited, Third Floor, 1 King’s Arms Yard, London, EC2R 7AF.

Your account is administered by Arrow Global Limited (“AGL”) for Erudio Student Loans Limited. AGL is part of the Arrow Global Group and is authorised and regulated by the Financial Conduct Authority for certain credit-related regulated activities. AGL is registered on the Financial Services Register under registration number 718754. AGL is registered in England and Wales with company number 05606545 and its registered office is at 20-22 Bedford Row, London, WC1R 4JS.

Arrow Global had 45 FOS complaints recorded for the 6 months up to June 2016, compared to 111 for Erudio... pretty obvious how a global DCA such as Arrow Global can claim such a sterling complaints record - which means stats can be read to mean what you want them to mean, so completely worthless in this case. I'd like to know how Erudio's complaint stats will now be tied to Arrow Global's complaints record/FCA status, if at all.

It looks like the new address for FOS complaints is Arrow Global, 20-22 Bedford Row, London, WC1R 4JS... not much point complaining to a piece of paper.

Brooker_Dave

Mis-sold, government colluded to rob us of our rights.

Tommygunn

So, I've been defered for another year, to expire on the 14/8/2017, but their letter, see below, is still going on about arrears I owe them. I also have last years deferment letter, dated 22/10/2015, which also states the £82.92 arrears.
These arrears appear to stem from last years deferment wrangle where I used my three months to try to fight them. Anyway, you can see that I got defered from my attached letter, i.e. the start date 15/8/2016 but now what do I do about this amount of £82.92?

I have had no other correspondence and they are not being at all threatening. Do I just ignore it, try to deal with it by phoning them, which I have done and that came to nought, or something else?

Cheers,
Tom.

GinOClock

Just got my annual statement in today. Full of holes doesn't even begin to cover it.

Looks like I'll be submitting my 4th FOS complaint this year.

GinOClock

FOS have now confirmed that Erudio must accept DAFs where the user has indicated on the form that they do not accept that Erudio can share information with CRAs.

Furthermore, they have indicated that, in the opinion of the Ombudsman service, that Erudio cannot alter the terms of the loan via the DAF. They have indicated the original loan terms apply, not what is on the DAF.

I think this is positive news.

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=123902

BorderReiver14

@Tommygunn

My advice would be to just fire off an email to dispute the arrears and get the ball rolling with the FOS again. If you have your deferments all in place and they follow on one after the other then the arrears are fabricated or else Erudio have added charges? Either way, I would not let it settle because they could use it down the line.

BorderReiver14

GinOClock wrote: »

Just got my annual statement in today. Full of holes doesn't even begin to cover it.

Looks like I'll be submitting my 4th FOS complaint this year.

Its a joke. Once I drag them into line to give me my deferment I too will be chasing up the whole annual statement malarkey.

gardenia101

Hi All

I've not been keeping up with this as much as I should have as I've had further sight loss & am slowly finding out what I can & can't do....

I've had my annual statement - not in large print naturally so no idea what it says for the third year running. I know I should complain but I'm so fed up with it all I'll leave it for another day.

My son read part of it to me before he went to school, so I know there aren't any arrears but he couldn't see anything about my deferment date on my statement - does anyone else have a date on theirs?

I'm deferred until next year, but this isn't confirmed on my statement - it mentions deferment in general terms only.

My first FOS complaint is going through an enforcement process since Erudio didn't follow the Ombudsman's decision. My second FOS complaint is ongoing as Erudio again have just ignored their decision so I'm struggling to see what adding another complaint will do apart from wind myself up :rotfl:

Only another 2.5 years until I'm 50 & it should be written off.

Gin - that is good news.

AReeves

That seems a sensible decision from the FOS.

GinOClock wrote: »

FOS have now confirmed that Erudio must accept DAFs where the user has indicated on the form that they do not accept that Erudio can share information with CRAs.

Furthermore, they have indicated that, in the opinion of the Ombudsman service, that Erudio cannot alter the terms of the loan via the DAF. They have indicated the original loan terms apply, not what is on the DAF.

I think this is positive news.

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=123902