Miss-sold a loan from the government

rizla_king

magpiecottage wrote: »

It would be interesting to know what FOS would say if you argued that, as a minor at the time, the loan is unenforcible.

The loan regulations right from the beginning said that you were only eligible for further loans after 18 if you "ratified" those that you received under 18.

ericctheking

These loan thugs are going after and harassing people with disabilities now. Giving them stress and driving them to an early grave.
Hope you "I'm all right, jack" people who support selling off student loans are proud of yourselves!!

ericctheking

Here is an idea why don't payday loan companies team up with the government?

The government could then flog loans breaching the consumer credit act because you know it is the government and they are special so they can do that.
Then once the suckers have signed up trusting the government they can flog them off to a payday loan company because you know this is standard loan practice blah blah blah.
Then the payday loan company can try and change all the terms and conditions sneakily, harass people, lie to people, trash peoples credit ratings who were minors when they signed up to these special government loans.
What's more why don't these companies (that are part American owned and under feudal investigation for fraud!) be registered in the channel islands for tax purposes!

This is what has happened, if you don't see something wrong with this you are clearly a sociopath. But being a sociopath is apparently a good skill to have these days.

ericctheking

Also why are loan agreements signed during freshers week when in the 90's, free booze from drinks companies (as well as free tobacco from Marlboro! and condoms) were given out.
I am sure many of these loans were signed while students were intoxicated!

Pixie5740

"Always do sober what you said you'd do drunk. That will teach you to keep your mouth shut.”

Ernest Hemmingway

Besides back in 1997 when I applied for my first student loan I had to make an appointment with the university finance office and go through the application with someone.

You could save yourself a lot of trouble by just repaying your student loan. Just because you can defer doesn't mean to say that you should or have to.

jonesMUFCforever

ericctheking wrote: »

Also why are loan agreements signed during freshers week when in the 90's, free booze from drinks companies (as well as free tobacco from Marlboro! and condoms) were given out.
I am sure many of these loans were signed while students were intoxicated!

Who's fault is that then?

iolanthe07

under feudal investigation for fraud!

!!!!!! does this mean? Did you mean "federal" investigation?

Anyway, as a tax payer, I sincerely hope that students pay back their loans with a ready smile and a merry heart, mindful of the huge privilege of a university education.

ericctheking

iolanthe07 wrote: »

Anyway, as a tax payer, I sincerely hope that students pay back their loans with a ready smile and a merry heart, mindful of the huge privilege of a university education.

Why do you care if students pay money to a private American owned company that transfers the money abroad?
Surely as a taxpayer you would rather the money stayed with the students and got spent in the UK and hence on VAT so that you have to pay less tax?

ericctheking

The problem is (and this is way the Eruido people haven't got the sympathy they deserve) that a lot of people see student loans as something that must be payed back at any costs because these idiots think it is the moral thing to do and people borrowed the money so they should pay it back type of hand wringing.
What these absolute idiots do not realize is how the loans were sold. They were not sold as regular loans! They have basically been miss-sold on a huge scale if the money must be re-payed to the last penny by everyone who took out the loans (this is what the idiots want!)
You can see the propaganda from the government about default rates etc in the press (these aren't real defaults these are poeople who fulfill their contract by not paying or paying very little because they don't earn enough.) The aim of this is to turn the public against anyone with a student loan and make people see people who took student loans and haven't paid it all back as immoral.
Added to this is the privatisation of the loans. The idiots still thing that these private companies that are owned by Americans and have structured there affairs in such away to avoid paying tax deserve this money!

Pixie5740

Yes, that's right we're all absolute idiots. Those would be the idiots who picked a proper course at university, one that lead to a decent career, hence why we all repaid our student loans some time ago instead of taking some namby pampy course to hide away for 3/4 years whilst accruing student loans.

Yes I agree that Erudio should be handling things better than they are and I do have some sympathy for those caught up with Erudio's appalling customer service but Eric, you're flogging a dead horse here.