ERUDIO student loans help

erudioed

It looks like Arrow Global is in the middle of a takeover by TDR Capital LLC, a private equity firm from Blackburn, which owns a vast amount of businesses, ranging from cheap homes to a large percentage of ASDA, to pubs, the retirement income market, Pizza Express, carwashes and probably most relevant, The Lowell Group:

"a UK market leader in the acquisition of portfolios of non-performing consumer debt from a blue-chip client base across financial institutions, telecommunication companies, home shopping retailers and utility companies."

They continue: "Lowell’s strong performance track record resulted from its sophisticated data management technologies, which provided the business with significant analytical capabilities and a clearly differentiated competitive position in both portfolio acquisitions and collections.

Reputation and compliance are vital in this industry. Lowell’s recognised thought-leadership on compliance and careful customer management have been core to its operations, and have been a core focus for debt originators."

https://www.tdrcapital.com/our-portfolio/

Although The Lowell Group dont appear to be the company that will own Arrow, it highlights the scale of TDR Capital.

It seems Zach Lewy is wanting to go through with the deal: https://www.lse.co.uk/rns/ARW/possible-offer-for-arrow-global-waxn2072fu99wrr.html

Once again, thanks to our wonderful student loan policy and suicidal march towards total privatisation, whether by stealth or through open policy, it looks like our private information will once again be circling within another ecosphere of companies.

heartbroken

Argh this company!!

I applied for deferment online (I know I know, most years I applied on paper and crossed out some t&cs) a few weeks ago and today got a reply through the post (why wasn't this emailed weeks ago - first grumble) saying I need to submit documentary evidence of my 'means of subsistence'

I am not working at the moment, I get child benefit and some tax credits but my husband works. His income pays all the bills so I am essentially supported by a third party but I don't get an allowance as such. Why do I need to prove anything? Are they really asking me to get my husband to write a letter confirming he supports me?

They accepted my application last year under exactly the same circumstances so does anyone have any advice?

My last grumble is the fact that the letter was dated yesterday and arrived today just to coincide with their website being down for maintenance until tomorrow evening. How convenient.

Thanks in advance

rollingmoon

heartbroken said:

Are they really asking me to get my husband to write a letter confirming he supports me?

I was in the same position as you some years ago and, yes, that's exactly what they are trying to get from you. It's crap, I know, but I got my partner to do this and it got rid of these creeps for another year. Two years later my loans were written off... keep your eyes on the prize!

heartbroken

rollingmoon said:

heartbroken said:

Are they really asking me to get my husband to write a letter confirming he supports me?

I was in the same position as you some years ago and, yes, that's exactly what they are trying to get from you. It's crap, I know, but I got my partner to do this and it got rid of these creeps for another year. Two years later my loans were written off... keep your eyes on the prize!

Good grief. Not sure why they want it this year when they didn't last year. I've got a month before the deadline so might kick up a fuss and complain.

You're right though, not long now! 

Thanks

erudioed

I am getting many reports on twatter of people not being able to get in touch with erudio and their deferment deadlines passing. Anyone here having similar problems?

FuriousFeline

@erudioed Yes, I am currently experiencing this problem. Just over a week ago I sent them an email asking them to confirm whether they had received my deferment form as I had not yet received a letter stating whether or not I was deferred for the coming year and, if not, what I would have to do about it. A few weeks before sending them this email, and just over a week after I had sent them my deferment application and supporting information, I received a letter from them claiming that they had not received this year's DAF. I did not immediately contact them because they have sent these letters in previous years, and I assumed it was sent out automatically.

Like other people you have mentioned who have contacted you via Twitter, my current deferment period runs out very soon (ie middle of next week) and I am getting increasingly concerned that not replying to people might be a deliberate tactic they are  using, so they can then smugly announce that we are all in arrears as we have not been deferred.  I also noticed on your Twitter page that you have been hearing from people who have encountered Erudio asking for more information before they can be deferred. Last year I experienced Erudio being petty about every last little bit of income on my bank statement, aside from payments I regularly receive, which in the past have been accepted as sufficient for me to defer. On the DAF itself, there is no section which states that applicants must account for every last little bit of income, so I find this bizarre. Related to this, if you do a search on Mumsnet for recent discussions about Erudio, you will see a poster who has had them trying this tactic.

I was hoping that ArrowGlobal might be going bust, therefore there would be no more Erudio, but perhaps this is a bit much to hope for. Instead, after doing a search for recent ArrowGlobal news, I discovered that they are soon to be purchased by TDR Capital, the private equity firm recently involved in the purchase of Asda 
https://www.business-live.co.uk/technology/income-earnings-rise-credit-management-20568959

erudioed

Thanks FuriousFeline for sharing that. I read on its site that it can take 14 days for them to reply to emails but I would be tempted to mail them every couple of days the same email, as well as stating you would like to open up a complaint. I have heard they have been requesting incorrect info as well, way and beyond what is stated in the original deferment process regulations...yet that process has not and cannot be changed without governmental confirmation. When they do eventually reply, and ask if you would like to continue with your complaint, you could ask them where exactly in the T&Cs for deferment where it states that you have to account for every penny into your account before you decide on whether to continue your complaint.

I think we all realise the only language these vultures understand is the language of conflict, and especially that you wish to open a complaint. They are quite clearly making it is as difficult as possible to defer towards the end of our accounts...I personally suspect they are collecting as much data as possible from each one of us when they have a chance as Arrow Global can then add it to its debt collectors database that it was (and more than likely still is) charging companies to access, and operated in  cahoots with and on Experian's platform. I suspect this is highly illegal if that is what they are doing and not a boon for this new company trying to take over Arrow Global. Remember when Martin Lewis was on BBC radio and debating Zach Lewy, with Experian taking part to support Lewy about how our accounts would appear on Experian's database. No one knew then that Arrow Global and Experian were working together on a database for companies to pay to access Arrow Global's 'client' (i.e. us) data, nor did either of the parties admit to a relationship on air. Its still not exactly a wide known fact.

Anyway, unfortunately, Arrow Global are far from going bust (I posted a quicky on the TDR Capital takeover a few posts above) and have been entering every market they can that is opening up its debt collector segment across Europe after the recent financial troubles, especially countries like Portugal. You may be even more alarmed that in its own financial statement of a year or two back, that it was lobbying the UK government to change the industry rules to its own benefit...I cant remember the exact language it used but it was words to the effect that they were at the table advising the government on changes to the industry. And with Arrow Global being awarded purveyor of best practices and the compassionate debt collector, I think whatever Arrow Global becomes after this take over, it is far from finished. Like with most things, the business world believe one thing but the reality is that Arrow Global are a deceitful, lawyered up bunch of envelope pushers who use confusion, deceit and blatant lies at times to try and extract as much money as they can out of some of the less wealthy UK citizens at every chance. Citizens who live up to their own end of the loan deal T&C's, every year, often for up to 25 straight years.

FuriousFeline

@erudioedI probably will end up putting in a complaint if I don't hear from them by the time my current deferment period runs out. However, I don't think I'm going to email them repeatedly, as I read a post from someone somewhere who said that they'd sent Erudio various communications while desperately attempting to resolve an issue, to then have Erudio accuse them of harassment!  What I find really frustrating is that, as you have mentioned, Erudio gives themselves 14 working days to reply each time someone sends them an email, which by most companies' standards would surely be considered unreasonable, particularly as I very much doubt that Erudio's staff are run off their feet.  The deferment letter says that Erudio can take up to 28 working days to process a DAF, which also seems excessive- however, they do not usually take as long as that to process my DAF, so this year certainly seems odd in that regard.

lantanna

I hadn’t heard anything and rang them up, they deferred straight away

heartbroken

I applied online on 25/3 with what should have been, and always has been, a straightforward deferral ( I don't work at the moment) but because of their ridiculousness (replying to emails by post 2 weeks later, requests for paperwork which has never been necessary before etc) it took until 19/5 to get it done which was a 3 days after my deferral period ended. This obviously put me into arrears which they say will be wiped off if it is delayed due to them but I've asked for it in writing.
Awful experience, again.
I am only a few years being written off so feel I have to play along...