Erudio Debt Collection Company Harassment of Former SLC customers

[Nibbler]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Also some useful discussion on the:

MSE -> http://forums.moneysavingexpert.com/....php?t=4923210

and mumsnet -> http://www.mumsnet.com/Talk/legal_mo...ntinued-part-3

threads.

[wales01man]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

So I and other non Ex student taxpayers have to subsidise others who in theory can earn vast amounts

[PAWS]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Go for it pearandbanana!:rockon:
Not only did the government write off £730m when they sold off these debts but they sold them to a company that will syphon any money they collect off to Guernsey! Boy, they really know how to handle taxpayer’s money. I wouldn’t trust David Willetts (the government’s brains behind the sale) to water my plants.

[FlamingParrot]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Let’s not get carried away by the whole argument of ‘why should the students get away with it.’
All this student debt is the result of the government getting rid of proper student grants. Students used to get a grant to go on to further education. This allowed people from less privileged backgrounds to become solicitors, doctors etc. I strongly object to the fact that this system will result in only the ‘upper crust’ few being able to go onto higher education.
I could not have completed my education without a partial grant.

I totally agree with this! :clap2: :clap2: :clap2:

I remember when you used to hear about student debt in America and you could say "just as well we're in Europe, where things could never get that bad". We are becoming more and more like the US.

In the not so distant future, students will be asked: "What's the name of the 51st State?" The answer will be: "The former UK".

[FlamingParrot]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

So I and other non Ex student taxpayers have to subsidise others who in theory can earn vast amounts

Purely in theory, as per my post above. *Some* people earn vast amounts because they did a degree, others do because they have other skills, some did a degree and don't earn any more than those who didn't.

Us taxpayers subsidised the Big Bad Banks in 2008, it can't get any worse!

Compared to the bi££ion$ that were poured into the banks, student grants are loose change!

[PAWS]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Ha! Ha! FlamingParrot .–gosh why am I laughing; perhaps the government will sell us all off to the US as part of a ‘closing down sale’ before they head for the hills next June.:tinysmile_cry_t:
So the taxpayer can bail out the banks. The taxpayer can take a hit to the coffers when the government ‘sell off’ student debts to a company that probably doesn’t even pay tax in the UK but god forbid we should educate our young people. As I read through all the complaints about this my blood is running cold because no sane person is going to take a chance going to University if they will end up having to deal with Crudio (Erudio). We will either have to get our professionals from abroad or watch our young graduates continue to emigrate.Shocking. As a society we are going into reverse.:tsk:

[MissFM]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

As a society we are going into reverse.:tsk:

Hard to disagree.

Just to add another game little pony into the race... the whole "student loan" fiasco does appear to be yet another conjuring trick to create imaginary money without most of us suspecting (or even if suspecting, not able to articulate) that it's misdirection.

Once again, the imaginary electronic funds are shifted around - bought and sold - and the people who have the least are targeted to cough up actual, real world money to enrich those who have no need of it. :tinysmile_hmm_t2:

[MissFM]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

In the not so distant future, students will be asked: "What's the name of the 51st State?" The answer will be: "The former UK".

Hypothetical question: which is preferable, that or department x3001 (or whatever) of the Federal States of Europe (ruled, for example, by HH Emperor Blair or his Ilk....)

[pearandbanana]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Paws

Many thanks for this - I appreciate it. I have recently written a letter to the CEO of the Student Loans Company (of course his office will deal with it, because no CEO does anything other than play golf and direct fund-raising executives) and essentially explained I will not tolerate intimidation without referring it to my MP, and that I am to be deferred another year as usual.

A general warning here to others - be very careful what you sign with Erudio - I have read that this vile company are sending out slips of paper and asking people to sign them - but these slips of paper change the original terms & conditions of the contract. They might even stoop so low as to put them into the standard deferral forms so make sure you read every line before you sign anything. Obviously there is no real regulation to stop them from treating people like this so the state is not there for you - you're on your own so make sure you have your wits about you.

Best to all,

PearandBanana

[pearandbanana]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Miss FM

What essentially happens, as I understand it, anyway, is when you take out a student loan and the SLC gave you your money, they didn't give you real money. They sold your promise to repay it on the market and gave you that. Frankly, it really isn't very different from slavery, and we are basically chattel traded on the markets, the only difference being people are physically traded when they are slaves, but with loans like this your time/labour are traded instead.

I want to make clear that while it is disgraceful we were forced to take out loans for our educations when the generation above got theirs free, and while others in Europe receive grants, and I am disgusted by it, rightly, I accept I borrowed the money and I will certainly repay it if I earn enough, as this is the honourable thing to do. However, I do not earn enough to repay it, and the T&C of the contract I signed enable me to legally defer. I will no tolerate intimidation and harassment from international debt collection companies when I am within the T&C of the contract, as this surely constitutes an unlawful act.

[wales01man]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Not real money can you explain this?
If the rules are you only pay when earnings reach a certain level it must be in the contract so no amount of threats to pay matter or am I missing something here?

[pearandbanana]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Not real money can you explain this?
If the rules are you only pay when earnings reach a certain level it must be in the contract so no amount of threats to pay matter or am I missing something here?

Hi Wales

Not real money - fiat money brought into existence out of nothing. Yes, you do have to earn a certain level, but until then you can defer. What is happening with Erudio includes things like threatening those who defer with reporting them to CRAs in an attempt to intimidate them into paying back their loans even though they are earning below the threshold.

[FlamingParrot]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Hypothetical question: which is preferable, that or department x3001 (or whatever) of the Federal States of Europe (ruled, for example, by HH Emperor Blair or his Ilk....)

Uhmmm, electric chair vs lethal injection... :decision:

Not real money - fiat money brought into existence out of nothing. Yes, you do have to earn a certain level, but until then you can defer. What is happening with Erudio includes things like threatening those who defer with reporting them to CRAs in an attempt to intimidate them into paying back their loans even though they are earning below the threshold.

As is all credit offered by financial in$titution$, who don't really lend you their own money, it's all an entry on a database.

Thanks to Fractional Reserve Banking, banks only need to hold a small fraction of the amount they 'lend'.

[PAWS]

Re: Erudio Debt Collection Company Harassment of Former SLC customers

Good for you pearandbanana!:thumb: You know what really gets my blood boiling is the sanctimonious way the government says it is clamping down on loan sharks and payday lenders then endorses and does a deal with the biggest bandits in the industry. Arrow Global are assumed to be legitimate because they are big. They are big because they intimidate and cheat the most vulnerable. The Crudio arm of their operation is nothing more than a new set of letterheads.
You are quite right to have a word with your MP. I am already corresponding with mine and if he wasn’t aware of just how many voters are in this position he is now!

[MissFM]

Re: Erudio Debt Collection Company Harassment of Former SLC customers