ERUDIO student loans help

in Credit File & Ratings
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  • mikedonmikedon Forumite
    5 Posts
    my wife is just back to work after maternity leave. we got some tax credits up until mid march but we wont be getting anything from now on. hmrc should be sending out a letter this week to confirm this. if my deferment end date is in may and i apply for deferment this month - do i need to mention the tax credits received in march?
    and if yes - i'm assuming only half of it applies to me?
  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
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    Actually I thought Honours were owned by nationwide, thesis servicing by link financial. (these were the first loans to be sold off, however they were/are still administrated by the SLC)

    Check out this link, it seems erudio are buying these up under the radar too.

    http://www.credittoday.co.uk/article/15150/online-news/debt-buyers-snap-up-securitised-loans

    At least before with thesis and houners deferment was/is still done through the SLC, looks like these loans (or maybe just hounors) will be administrated by erudio too.

    its all more twisted than one would expect, apparently Nationwide and Deutsch Bank purchased about 500,000 loans and then sold them onto Honours Student Loans. Hence the confusion. There are many starnds on this site about Honours and us erudio lot have real problems i think whether all is in order or not. Lets just hope the regulators help us reign them in when they start more of their tricks.
    Based on that feedback about Honours, i think it is thoroughly irresponsible for the Government to sell our loans onto these mercenaries.
  • ericcthekingericctheking Forumite
    328 Posts
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    Where is Martin Lewis on this????????
    With his advice about current student loans (which have planned to be sold off) wouldn't he be better putting a disclaimer in there? ie. your terms and conditions might be favourable now but in the future we will sell you off to the worst of the worst.
  • ericcthekingericctheking Forumite
    328 Posts
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    What does anyone think about the argument that these loans were possibly miss-sold?
    Disclaimer: I have no qualms with paying dues when over the threshold, I'm not advocating running away (although it feels like it could be easier than having to deal with all this)
  • erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
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    thats a tricky one because how can it be assessed, they have no results for this new(ly named) company.
    I know how you feel. i know i am safe for a deferral if i just went through their process but it is the principle now i feel and not wanting this stress and continual cranking up of the odds every year that i fear is coming. Running is what they want but i agree, the idea has crossed my mind as well. It seems we are stuck with this now...
  • ericcthekingericctheking Forumite
    328 Posts
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    I'm thinking, just have proof you've sent your evidence each year, Also keep records to show you've not earned over the threshold for the year (even though you don't have to do that for the whole year only 3months). that will all be obvious thru. tax.
    Tell them to jog on or take you to court if they don't defer you because you have proof you are under the threshold.
    Take them to court if anything appears on your credit file or if they impose any fees on your account.
  • ericcthekingericctheking Forumite
    328 Posts
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    An approach could be to take erudio to court for breaking the terms and conditions (for denying you deferment when eligible) and trying to take money from your account.
  • ericcthekingericctheking Forumite
    328 Posts
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    Seen on another forum someone received an email from erudio that deferrers won't be registered with CRA's.
    So possibly some good news and a sign that if people dig in they will cave in.
    However....
    1). E-mails are not legally binding and often come with a disclaimer stating this. You need it confirmed in a letter sent to your address.
    2) DCA's often read forums like this and spread disinformation by registering and posting themselves. So be wary of information from other people and get confirmation yourself in your own hand.
  • edited 1 April 2014 at 4:44PM
    CreditCrunchieCreditCrunchie Forumite
    473 Posts
    edited 1 April 2014 at 4:44PM
    Does this affect loans from 2000, and how would I find out? How can you even default on a student loan when it's taken out automatically? :-/
  • edited 2 April 2014 at 9:49AM
    erudioederudioed Forumite
    682 Posts
    Seventh Anniversary 500 Posts Name Dropper
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    edited 2 April 2014 at 9:49AM
    Right, just a little info on our beloved Erudio, its dear leader and just who our Government has sold this loan to. Taken from yahoo news and im sure you will all be very interested:
    "Will Erudio Student Loans represent the best value for the tax payer, as the Department for Business, Innovation & Skills claimed when it sold the company £160m of student debt last week?
    Erudio is the joint venture set up by CarVal Investors and Arrow Global, the debt management specialist, to manage that loan book.
    What has been kept quiet, however, is that Erudio’s trustee is the London arm of Wilmington Trust, the Delaware-based bank that is being investigated by the US Department of Justice in relation to “issues” that arose before the lender was rescued from collapse with a $351m (£214m) bailout from M&T Bank in May 2011.
    No doubt the BIS conducted its due diligence in the “competitive” bidding process.
    But might Wilmington, which provides London office space for Erudio and has installed its UK director, Mark Filer, on Erudio’s board, rethink its “company policy” of not speaking to the press when it takes control of the public debt early next year?"



    Right, if anyone (and i cant imagine they are) is getting nowhere with Erudio's confused and unguided receptionists, you may wish to take note of the following information and send a personal email, or a quick call to chat about his company, to our beloved leader. You might say such things to him as i thought i would mail you directly because i have been in communication with your unorganised, unprepared company and thought i would come to the organ grinder, mainly because i have already wasted XX hours of my own time calling your call center and getting nowhere.

    (Text removed by MSE Forum Team)

    If not, and you just want a general chat you could maybe mention some of these other companies where he spends much time as Director i am sure overlooking his empire. You may need to add an h at the start of the link:
    ttp://www.cdrex.com/mark-howard-filer/225243.html
    And dont forget their are nine pages of companies over which he resides.
    You may feel like asking if there is a direct correlation between the haphazard running of his organisation and the sheer lack of time he would realistically be spending rallying his troops/training them considering his time must be very spread considering he is director of X zillion companies. Or, if he just employs someone on a pay per results basis and tells them they can do what they want and then just leaves them to it, and if that is shown in how poor his front line staff are at answering any questions of substance, and then when in a tight spot, just making stuff up

    But dont worry about his privacy because despite having run and running more companies than i knew existed on the planet (nothing dodgy about that), you wont find a photo of him anywhere.

    Just use his contact information and tell him what you think, or better, ask him why his company is a shambles to deal with. And after that, wonder how our beloved government could even entertain doing business with a vulture like this guy!
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