ERUDIO student loans help

Forever

Forever wrote: »

I have some good news.

Last Saturday, I passed a fair chunk of my day constructing an email of complaint and sent this to my MP (conservative party) and the Financial Ombudsman. Later, I then forwarded this to the Student Loans Company (hell, why not?!) just to see if they could help me too.

On Saturday, I received an automated email from the Financial Ombudsman saying I must wait for Erudio to deal with my complaint first. So I have to wait another six weeks before I can officially log my complaint with them. Unfortunately.

However, today, I received a lovely letter from my MP (I'm quite impressed actually!) saying that he has read about other people having bad experiences with Erudio. He also says that he is going to be writing to David Willetts, the Minister of State who has responsibility for student loans, and will write to me as soon as he receives a response. Good news indeed!

Regrettably, my MP will not liaise directly with Erudio because I have contacted the Financial Ombudsman, and Erudio will not deal with two different parties.

I have also just received an email from the Student Loans Company saying that they have logged my email as a complaint with them too. I'm not sure what they can do but I hope it helps. This is good news too!

So I just wanted to share that it looks like help is out there

Background: salary under 5,000 UK pounds in the last tax year. I have sent in a fully filled in form (big sigh), pay slips for self employed position, bank statements, interest certificates, and more recently, a copy of my tax return - but I'm still not getting deferred and they have dipped into my bank account.

I agree; the BBC radio 4 show was really underwhelming.

However, I have more good news.

When I emailed the Financial Ombudsman on Saturday with a complaint about Erudio, I received an automated response that I needed to wait until Erudio had time to resolve my complaint themselves. This means I have about 6-7 weeks to go before I could contact the Financial Ombudsman again.

But today, I received an email from the Financial Ombudsman saying they have logged my complaint and they will get back to me within the next 3 weeks.

I really hope that between the Financial Ombudsman, my MP and the Student Loans Company, they can finally get Erudio to start behaving in a professional manner.

erudioed

very very underwhelming. They should have asked Experian about this agreement with Arrow Global that they signed 2 weeks after Erudio purchased our loans:

Arrow Global extends relationship with Experian

Nottingham, UK, 9th December – Experian, the global information services company, today announced that Arrow Global, a leading provider of debt purchase and receivables management solutions, has extended its long-term contract with Experian for the provision of specialist data and analytical services in the UK and Ireland.
Experian will continue to provide Arrow Global with data and analytical services until 2018. These services enable Arrow Global to more efficiently manage accounts, better understand specific circumstances of individual customers and to determine the recovery strategies across its diverse services book whilst ensuring customers are treated sensitively throughout the lifecycle.
Simon Waller, Head of Collections and Customer Management at Experian, commented: “This is an important partnership for Experian and we look forward to providing Arrow Global with data and analytical services for many years to come. Having a crystal clear view of individual customers through comprehensive data is becoming more important than ever for those who operate within the debt collection industry. The extension of this contract means Arrow Global will have access to a wide range of data, helping it better understand the debt portfolios it manages.”
Zach Lewy, Founder and Executive Director of Arrow Global, commented: “We are delighted to be extending this partnership with Experian, which has proved hugely successful over the last 18 months. It is vital we use the most robust data and analytical tools in order to more effectively recover debt for our customers. Continuing work with Experian will ensure we are able to provide the most efficient service for the debt portfolios we manage which includes more than £6 billion of receivables across over 3 million customers in a range of sectors.”
ENDS


and here is another one from Arrow Global with Experian a few months earlier:




Arrow Global awards extension of data services agreements to Experian
Published on 07/06/2013
Arrow Global Limited is pleased to announce an extension to its data services agreements with Experian until 2023.
Experian's market leading data is an important tool in helping Arrow Global to better understand its customers and build on its commitment to the Financial Conduct Authority's ‘Treating Customer Fairly' principles.
The extension to this agreement is a strategic milestone for both companies, representing a long term commitment to work together to capitalise on significant opportunities in the receivables management market.
The extension also supports the roll out of a proprietary customer-data matching database, aimed at improving the overall customer experience for people who are experiencing financial difficulties. This innovative tool was developed and implemented jointly by Arrow Global and Experian.
The database, which currently holds over 12 million records, enables Arrow Global to identify and honour successful existing relationships between customers and independent money advisors or collection agencies. This helps to minimise contact with the customer by collection agencies, and should improve the overall customer experience.
Arrow Global's Chief Executive Officer, Tom Drury, says, "Experian is a leading, long term player in the market and their significant capability to effectively manage data is one of the reasons that we've chosen to work closely with them. This relationship is helping us to deliver well-informed and customer-centric services to our customers and clients."
Jonathan Westley, Managing Director of Experian's Consumer Information Services in the UK, Experian, said, "Arrow Global is a key player in the market committed to treating customers fairly, protecting their clients' reputations and facilitating collections, so we are delighted that this contract extension will enable us to continue to support them and further strengthen our relationship. We look forward to working with them on initiatives which will benefit both customers and creditors alike."

Notes to editors:

• The terms and conditions of the deal have not been disclosed.
• For further information about Treating Customers Fairly principles see http://www.fca.org.uk/firms/being-regulated/meeting-your-obligations/fair-treatment-of-customers

Arrow Global
Arrow Global is one of the largest and fastest growing providers of debt purchase and receivables management solutions in the United Kingdom and Portugal. We purchase defaulted consumer credit from major creditors. This includes credit card, personal loan, retail, motor, mortgage, telecommunication and utility receivables. As at 7 June 2013, we have over 5 million owned customer accounts and £8 billion under management, including £6.6 billion of purchased assets.
Our data driven, compliance focused and customer centric business model offers a tailored approach for creditors and customers alike. We combine analytical and data management capabilities with bespoke systems and processes with the goal of facilitating personalised account management and adherence to regulatory and compliance requirements.
We are committed to facilitating positive outcomes, and strongly believe what is good for the customer is also good for business.
Experian
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended 31 March 2013 was US$4.7 billion. Experian employs approximately 17,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.




me again, note this part:
Notes to editors:

• The terms and conditions of the deal have not been disclosed.
• For further information about Treating Customers Fairly principles see http://www.fca.org.uk/firms/being-regulated/meeting-your-obligations/fair-treatment-of-customers

anna2007

What a joke. If Arrow Global aka Erudio are so committed to Treating Customers Fairly, why do they have so many "contra-indicators" under the TCF culture framework? If the FCA are serious about supervising the culture of the vultures, seems to me that any customer on the receiving end of Erudio's delaying tactics/deferment refusals/threats/general bullying could use the culture framework as the basis of a complaint to the FCA?

erudioed

I always though that clause was a good one to fight under but i was dissuaded by another poster because it isnt anything to hang the clothes. But i would sure like to see someone fight that one if they were affected adversely. It will be in my ombudsman complaint at some point i think.

erudioed

Heres a very interesting report from Arrow Global Guernsey Holdings Limited that states many of the issues we have been mentioning about them:
http://www.arrowglobalir.net/files/file/download/id/102

Concerning Experian and that sham of a BBC piece, here is a section stating the relationship between them and Arrow. To say the CRA issue needs looking at a little closer, and if our CRA loan info is being traded/sold, is important i feel:
Developed in conjunction with Experian, the PCB is one of the UK’s first debt collection bureaus. Arrow Global uses the data capability within the PCB to maximise underwriting accuracy and to optimise collections by matching missing and incomplete customer data.


Here is another slice:


We also extended our strategic contract with Experian to 2023 and
Increased the number of records in the PCB, giving us access to 12 million customer records.




It is mainly financial info in the report and from the period before the student loans sale, but i am sure it will be of interest to some to look through.
Here is another from more recently:
http://www.arrowglobalir.net/files/file/download/id/137


If you want to access other files, i just changed the numbers at the end, going up 1 each time. Sometimes there is nothing there, but use the next number up and something appears.

erudioed

Well, here is Arrow Global's FAQs about what they call a PCB (Pilot Collections Bureau) scheme run in conjunction with Experian. I suggest everyone read it and see what they think:
http://www.arrowglobal.net/lib/docs/133657-experian-and-arrow-faqs.pdf

So, it seems they have a very close relationship after all, which makes the BBC piece yesterday a little deceitful, with no one suggesting closer ties. One bit that stands out in the above link, of many:
2.1.2
Why did Arrow Global become the pilot Sponsor Creditor?
Arrow Global brought the concept to Experian for their support. Arrow Global sponsors the project financially and operationally.

cptkirk

When I found out about my 97-00 student loans being taken over by Erudio I started to worry a bit when I read about their relationships and bad habits of related companies.

I don't think I trust them as far as I could throw them now that I have read what is in this thread. However as I have had to stop working to be a carer, they couldn't really kick up a fuss with DWP letters.

I hope anyone who has issues gets them sorted.

erudioed

In fact, Arrow are the sponsor creditors of the Experian Collections Network, paying and running it. They took the idea to Experian. To become a PCB member, one would make a deal with Arrow to join the scheme. I dont fully understand it just yet, but it seems that Experian going on the BBC and not mentioning the deal with Erudio etc, is like avoiding the elephant in the room. They are very very close.
When we all became alarmed at the mention of CRAs and they way it came across like a threat, maybe this is the reason why. In the links i post above, in the quarterly financial reports, Arrow Global list this relationship with Experian as being one of the new 3 or 4 things the business has going for it. I, more than ever, feel this deserves being looked into in greater depth to ascertain what the hell is happening with our data, and if it is in fact being traded.
Its not altogether too strange now why Experian would appear on the BBC and stick up for its business partner, and as good as waylay any kind of negative that deferers with Erudio have.
Maybe it isnt as important as it currently seems to me right now, but again, even with journalists involved, why has no one with supposed investigative skills already found this?
Interestingly, in the Arrow reports, they claim to have the lowest % of ombudsman complaints, at 17 in a million. This makes it more important for us to go through and contact the Ombudsman and make them aware of the issues we have.

fabianess

Hello, I am new to this forum, so apologies if this has been covered off elsewhere, I have searched around for the answer to my question, even emailed studio, but have not been able to get a firm response.
My question is: savings. In previous years the SLA just wanted to know the interest, that was my understanding.Erudio had a whole section devoted to it. Now I don't have 1000s in savings just few 100 pounds for emergencies, but had to disclose this on the form. I called an erudio operator about this and was told that it was taken into account in the gross income but the SLA never enforced it. I am very confused - have I had this wrong all along? I would appreciate any advise on this as I am already worried about next year's loan deferment as this year's was so stressful.

Sarebear78

fabianess wrote: »

Hello, I am new to this forum, so apologies if this has been covered off elsewhere, I have searched around for the answer to my question, even emailed studio, but have not been able to get a firm response.
My question is: savings. In previous years the SLA just wanted to know the interest, that was my understanding.Erudio had a whole section devoted to it. Now I don't have 1000s in savings just few 100 pounds for emergencies, but had to disclose this on the form. I called an erudio operator about this and was told that it was taken into account in the gross income but the SLA never enforced it. I am very confused - have I had this wrong all along? I would appreciate any advise on this as I am already worried about next year's loan deferment as this year's was so stressful.

Firstly take everything they say to you on the phone with a pinch of salt - savings are not income and thus cannot be used to refuse deferment. If you saved it from your previous income , how can it be new income? It is only your income or interest that can be counted - tbh it is none of their business how much you had in savings and the deferment form shouldn't have asked for this - I am sure others can explain this better but if they refuse on this basis I would complain and take them to the FOS if they don't back down, cheeky so and sos.