Erudio settlement offer - how much?

Daisy2014

This isn't about me, but a friend who is unable to work due to illness and is on PIP. Long story short, Erudio was chasing him for student loan debt and its ended up going through court - we had some advice about it all from a specialist.

We're due to meet with the specialist again next week and paperwork has been submitted to show his ill health and that he is unlikely to work again so I think we're waiting for the outcome of that. If they dont write it off, I was going to make a partial settlement offer because its been really stressful for him and it seems madness to let this debt hang over him and be a problem to deal with if he was to get back into employment. 

However I think chasing vulnerable people for money they were forced to borrow money in exchange for University education is disgraceful, this isnt the deal that any of us signed up to and this could just as easily be happening to me, or anyone else who took student loans out back then. I don't want to pay them a penny more than I have to, does anyone have experience of what the lowest they are likely to accept is?

Company is Erudio, debt is 8,500 so I was going to offer 5% and go to 10% as a maximum - are they likely to accept this if there is supporting paperwork to evidence its unlikely he'll be working again?

sourcrates

If its gone to court, is there a CCJ attached to this debt ?

Erudio don`t have a very good reputation for being very cooperative in matters such as this, if they have a judgement, they may decline any offers, however, it won`t hurt to try, so give it a go and see what happens.

superbigal

What happened to deferring the loan on income grounds ?

kaMelo

Daisy2014 said:

This isn't about me, but a friend who is unable to work due to illness and is on PIP. Long story short, Erudio was chasing him for student loan debt and its ended up going through court - we had some advice about it all from a specialist.

We're due to meet with the specialist again next week and paperwork has been submitted to show his ill health and that he is unlikely to work again so I think we're waiting for the outcome of that. If they dont write it off, I was going to make a partial settlement offer because its been really stressful for him and it seems madness to let this debt hang over him and be a problem to deal with if he was to get back into employment. 

However I think chasing vulnerable people for money they were forced to borrow money in exchange for University education is disgraceful, this isnt the deal that any of us signed up to and this could just as easily be happening to me, or anyone else who took student loans out back then. I don't want to pay them a penny more than I have to, does anyone have experience of what the lowest they are likely to accept is?

Company is Erudio, debt is 8,500 so I was going to offer 5% and go to 10% as a maximum - are they likely to accept this if there is supporting paperwork to evidence its unlikely he'll be working again?

There is absolutely no reason for anyone to be offering partial settlements here, why is your "friend" not simply deferring, or even better, asking for the loan to be written off on health grounds.

Of course there may well be a lot more to this story than laid out in the OP, I note the mention of legal action which would suggest the loan was defaulted at some point. Without giving the complete story no one can give you any advice as to the correct course of action to take.


Leaving aside the health issues, with all due respect it's exactly what anyone who takes out a student loan signed up to. It's clearly laid out in the terms and conditions that any one taking out a student loan agrees to.