ERUDIO student loans help

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Hello folks.

I'm coming to the point where I should sue Erudio/Capquest/Arrow.

27 years have passed since my loan was taken.

Erudio refuse to write off the loan because they insist I am in arrears.

Suffice to say, I didn't sign their application form where they insisted.

I always reported wages in time, earning pretty much less than a third of the threshold amount for the whole period.

Now I regard Erudio/CDR in material breach of the loan agreement and am wondering how best I would go about suing them.

Will the small claims court take this case, since I am not claiming loss of money?

Any other suggestions?

Thanks.

daswalkerdas

Erudio messaged me via sms to say I could apply to defer early this year, so I have just done so.

Didn't say why, but hopefully last deferment! ever.

thomas433

I'm new to this forum so apologies if I'm not doing things right. I started uni in 1997 but my first loan is dated 1998,1999, 2000, 2001. i do not have original contract so I can't tell when or if my loan will ever be wiped out. (Does anyone have copies of loans from that era?

Also Erudio has increased my interest to 13.5%. Is this right?

They have countless times lied to me, the most recent was that they has sent me a deferment letter, which never arrived, and i was due to start paying off installments. They did open a complaint and after a 10 week investigation found they had done nothing wrong.

thomas433

ElwoodBlues said:

Anyone else received another settlement offer from Erudio? Somehow they managed to send me two copies of the same letter - offering to accept about 15% of my current loan balance to settle. I'm not going to bother with it as only 3 years away from expiring now, and I'm unlikely to earn over the deferment threshold any time soon.

But does anyone know if Erudio will mark your credit file if you settle? Is it possible that they'd enter it as a 'partial settlement' or 'partially satisfied'? My understanding is that gets treated just as badly as a default when lenders see that on your file?

Could you please tell me more about this offer? I enter uni in1997 but my loans are dated 1998,1999, 2000, 2001. Did they contact you about it or did you contact them?

ElwoodBlues

thomas433 said:

ElwoodBlues said:

Anyone else received another settlement offer from Erudio? Somehow they managed to send me two copies of the same letter - offering to accept about 15% of my current loan balance to settle. I'm not going to bother with it as only 3 years away from expiring now, and I'm unlikely to earn over the deferment threshold any time soon.

But does anyone know if Erudio will mark your credit file if you settle? Is it possible that they'd enter it as a 'partial settlement' or 'partially satisfied'? My understanding is that gets treated just as badly as a default when lenders see that on your file?

Could you please tell me more about this offer? I enter uni in1997 but my loans are dated 1998,1999, 2000, 2001. Did they contact you about it or did you contact them?

Yes they contacted me with those offers. It might be that they only make lowball offers like that to people who they think they've no other prospect of clawing back any repayments from. I'm in deferment, no arrears and everything up to date, and my loans will hit 25 years in Sept/Oct 2026 so will be written off then. If your circumstances are different - ever missed a repayment or deferment, then they don't have to (and probably won't!) write off at the 25 yr point.

The 25 years is from the start date of your last loan, so like me, if yours was taken out at the start of the 2021 academic year, then yours should also expire Sept/Oct 2026.

stewartwilliams

My experience of Erudio (assuming what I believe is right?):

Graduated in 2002 and had loans in 1999, 2000 and 2001.
Never paid anything back off them and never got any deferment forms etc. and never earned the sum required to start paying back.
Got 3 x CCJ in 2018, 16 years after graduating, for £2k+ for each loan (they only seem to show on Transunion).
I assume they drop off in Dec 24 and Jan 25 as that's the 6 year point  Or not due to being student loans?

Have made some token payments to Drysden Fairfax against them, but other than the odd statement showing arears, nothing from them.