ERUDIO student loans help

erudioed

anna2007 wrote: »

Yep, we definitely qualify as victims of fraud!

And all those releases you are finding and getting released only adding to that case. It looks so dodgy, organised, planned and openly described that i am sure a good lawyer could put together a hell of a class action on behalf of us all. If such a thing were to occur, i would be happy to waiver any potential compensation and give it all to the lawyer willing to expose and nail this whole deal to the cross!
Osbourne was so quickly flung out of number 11 that its pretty clear he has many disgusted colleagues even within his own party. I am pretty sure his disgraceful legacy will continue to build over the coming years. Lets hope we are all a small part of creating it.

Banksters

As far as I am aware, from what I have read via a Scottish lawyer's website, on guidance for assignment in Scotland. The Notice of Assignment should be sent by recorded delivery. Then signed by the debtor, then returned to the owner of the loan.

As far as I read, in theory, all loans in Scotland should have been assigned this way, someone at Erudio's end has to sign the assignment too, as far as I know. I think all the loans have been "assigned" electronically via the "CD Rom" (In Purchase Agreement). Hence, as Dave noted too, how they were desperate to get you to sign something with them. As then once you signed anything with them, they can say "the debtor has acknowledged the debt". Erudio probably thought they could get away with not assigning the loans properly. As many of the original SLC agreements seem not to even be executed properly by SLC in the first place too.

Erudio would not have expected the Purchase Agreement to be looked at by any of the "normal people" affected by their scamming.

We must get a class action lawyer on this. One that has taken on the government before. The people who took on Northern Rock asset management thing might be good. There is more than enough evidence now I think to hammer Erudio.

anna2007

This might be an option:

http://www.barprobono.org.uk

The link was included in the Information Tribunal's guidance, I was thinking of applying via my MP for the current appeal on the SPA, if I need to put together a skeleton argument for the hearing. You can't apply direct, has to be through referral by your MP, CAB, etc.

BIS/DfE hired a Barrister for the tribunal appeal at the taxpayer's expense (why do they do that, when they already have legal people on the payroll at taxpayer's expense?). It's possible another Barrister, not motivated by the pay cheque, would be interested in looking at the facts of our case - it's completely new territory legally speaking, compelling evidence against the !!!!!! DCA Arrow Global and the Government - might be intriguing enough for someone to take on?

Dazza808

I'm looking for some advice on how to deal with Erudio.

I've just received a letter from Erudio saying my student loan has matured and the outstanding balance is due in full, it's just under £2000.

I will admit I received a letter in April they sent me but didn't give it any attention because since taking the loan I've always been below the threshold to start repaying so thought I didn't have to bother with them, I thought things would continue as they did under the Student Loans Company.

The letter in April stated they have had problems producing statutory notices that should have been sent since March 2014 but have now rectified the problem and sent me in the letter a few annual statements dating back to 2014 that should have received at the time.

The more I read about the horror stories dealing with Erudio I'd like to know what my next step should be, I am entitled to defer the payments, I can prove my last 4 years income from my self assessment with HMRC.

Any help greatly appreciated...

Brooker_Dave

Did you ever send back deferment forms?

Lungboy

There's no such thing as the loan maturing so it sounds like you didn't defer and defaulted and now they are asking for the full sum.

anna2007

@ Dazza808 It would help if you could give a few more details? Is your deferment up to date? None of us enjoy having to deal with the !!!!!! DCA Arrow Global, but it's important that we continue to do what's required of us via the t&c's - if you're against signing their DAF, amended or not, at least send them a letter and proof of income when your current deferment's coming to an end, then at least you've upheld your end of the original deal.

They've mentioned the loan "maturing" before, in reference to loan cancellation, that's just Arrow Global trying to confuse the issue. As Lungboy said, these loans don't 'mature', they simply expire - after 25 years or when you turn 50 (60 I think, if you were over 40 when the loans were granted, but check that), whichever is first.

If you've let deferment slip then yes, Arrow Global will be trying their best to make you pay up, because that would be gifting them the opportunity to hound you and profit. If you missed deferment but you're under the income threshold, you can apply now and it will be backdated a maximum of 3 months.

It's also not clear from your post if you've responded to Erudio/Arrow Global or SLC - if you haven't done in the last 6 years (5 in Scotland), then you should probably google 'statute barred debt'!

erudioed

Just for the record, here is a link to the latest companies house filing for "Total exemption full accounts made up to 31 December 2015" filed by our beloved, appropriately named, leader Mark Filer...that is actually about all he does, files: https://beta.companieshouse.gov.uk/company/08605918/filing-history
The cash flies out to Arrow Global Limited and Harrogate Holdings LP from, as we already know, Capquest Debt Recovery Limited, the primary servicer of our loans who handles all of our info, so says the above document.

erudioed

Just reading Arrow Global's 2015 preliminary report and was surprised to see this rather amusing but telling quote when outlining potential threats to its profits:

"There is also a risk of documentation deficiencies in purchased portfolios that are unable to be remediated or mitigated through contract and/or warranties."

To read the telling document: https://www.arrowglobalir.net/files/file/download/id/288

Brooker_Dave

erudioed wrote: »

To read the telling document: www.arrowglobalir.net/files/file/download/id/288

"Negative attention and news regarding the debt collection industry and/or the Group’s collections activity may impact our reputation and therefore the Group’s ability to acquire portfolios and customers’ willingness to repay the debt that the Group acquires."

"willingness to repay" - makes it sound like they bully people into paying when there's no need?