Class action lawsuit against Erudio student loans

ericctheking

Enough is enough.
How about everyone getting together and bringing legal action against Erudio student loans for fraud, deception and trying to gain money through illegal means??????????????????????
These are criminal acts are they not? more than just the cvil matter of breach of contract?

JeLaw

ericctheking wrote: »

Enough is enough.
How about everyone getting together and bringing legal action against Erudio student loans for fraud, deception and trying to gain money through illegal means??????????????????????
These are criminal acts are they not? more than just the cvil matter of breach of contract?

I'm definitely interested. I mentioned on one of the threads about Erudio trying to get as many of us affected by this together as possible.

Any action would certainly have more chance of success if there's a large group involved.

Anyone with more legal knowledge on here? I wonder if their actions so far constitute any breach of their terms?

We could cite the following: Ongoing delays in deferring people - "not receiving forms", trying to insist that people use their own form (with the possible consequent change of terms and conditions), attempting to insist on P60s, and taking money from people's accounts (on a large-scale rather than just one or two mistakes) despite them being in deferral.

Sarebear78

Count me in - I can't stand how stressed this is making people and it makes me so mad!

JeLaw

I'm also wondering whether people can demand that Erudio reimburse them for the cost of any phone calls to their expensive premium-rate lines? If they've had to call because of Erudio's incompetence - taking money from accounts when people are in deferment?

And any administration costs incurred in rectifying this, i.e. letters to Erudio, photocopy costs, phone calls to banks, etc.

ericctheking

How many signatures was it you needed to petition the government?
Maybe we could do something like that?
Get current students and students with newer style loans involved too (I think it is very relevant to these people as the plan is to sell the entire loan book off possibly to eruido/arrow global)
We could also all set up premium rate lines ourselves! for when they need to call us!
How about outsourcing are dealings with this company to an entity too and let them deal with that? play them at there own gain so to speak?

JeLaw

I found this on the Direct Gov site. It states a petition that achieves at least 100,000 signatures, the issue may be debated in the House of Commons.
Note the use of the word "may"...

http://epetitions.direct.gov.uk/how-it-works

I also checked on the 38 Degrees website. I've never started a campaign there but have signed petitions on the site.

Might be worth starting two petitions - one on the government's e-petition site and one with 38 Degrees?

https://you.38degrees.org.uk/about_us

Maybe I should finally join twitter! Never used it before but it's probably useful.

If we set-up petitions, perhaps we could contact various student unions and ask if they're happy publicising them.

ericctheking

What shall our petition be?

That the SLC should take over processing deferment for the loans to stop the conflict of interest.
That is one of my suggestions.
Please feel free to add suggestions.
Ideally I'd like erudio/arrow stripped of the loans!

ericctheking

Even if we are up the creak I'd like others ie. students on newer loans and current/future students to not have these problems.
So I think the rest of the loan book should NOT be sold off too.

JeLaw

ericctheking wrote: »

What shall our petition be?

That the SLC should take over processing deferment for the loans to stop the conflict of interest.
That is one of my suggestions.
Please feel free to add suggestions.
Ideally I'd like erudio/arrow stripped of the loans!

I didn't think what exactly it should say! Busy at work at the moment but I'll have a ponder.

Anyone with suggestions for the petition wording is welcome to chip in here!

Btw, I agree with you. I'd also like to see them stripped of the loans. Although if they aren't returned to government ownership (what I'd like to see) we'd no doubt end up with another similar organisation!

I wonder if it could be argued their ongoing incompetence renders them unfit to own these loans (and deal with deferment processing). For a start we could cite them taking money from people's bank accounts despite them being in deferral. And this has been fairly widespread rather than one or two isolated incidents.

JeLaw

ericctheking wrote: »

Even if we are up the creak I'd like others ie. students on newer loans and current/future students to not have these problems.
So I think the rest of the loan book should NOT be sold off too.

Yes. I think if I was thinking of university now and saw how Erudio is treating us 1990s students, I'd be more reluctant to take out a student loan. Some might study part-time and fund their study through work - but that's not practicable for everyone. And their loans are for much larger amounts since they have to pay tuition fees.

It would be good to campaign to stop any future sales.

BaffledByErudio

People are mentioning petitioning the government about our situation. I actually think it would be pointless.
For a key reason. Whilst we KNOW that if we're under the £28k earnings threshold and that legally gives us the criteria to apply for deferment, you don't get a lot of sympathy from people you speak to.
My best mate paid his loan off within a few years of graduating. Got a high paid job in the oil industry and when I mentioned my (our) predicament, he frowned and sarcastically said 'You did see the word LOAN at the top of the form you signed, didn't you?'
I could have argued until the cows came home. Insisting the original terms advised we'd have to earn a certain amount before being legally obliged to pay. But he doesn't have time for that argument and we don't mention it now. Even my colleagues (some of whom have higher debts than me, but don't pay back their loan because it's done through PAYE) have little sympathy.
And on another level, even my parents are saying to me "For god's sake, can't you cut back on things and pay £130 a month for six years?"
They're obviously on alert, thinking I'm dealing with a debt collector (which I am) but it shouldn't be this way.
We know how debt collectors work (although I've never been at their mercy before). They want their cash. They've bought a debt and want the money. I don't blame them. But it's the blood-boil-inducing way they've got us by the nuts. If we were defaulting or doing moonlight flits to another country on huge salaries, well, yes, fair enough, go after the swines. They need to pay. But to leave us deferrers open to credit damage, constant worry and ultimately (because a lot of us will start paying back when we needn't) poorer living standards, is downright disgusting.
And the only folk I blame are the government. It swills round and round in my mind. Does the government think we shunned lucrative jobs to avoid paying back a debt? I'd kill for a job on more than £28k and would even pay the debt back in six months if I got one!