Erudio woes

[Nibbler]

Re: Erudio woes

Perhaps. Or could be some other reason....

[Pluthero]

Re: Erudio woes

Quick question for you legal minds. How legal is it to have terms and conditions of an agreement not in the paper format of the agreement itself but on a website you must also visit and read/consent to. Further more how legal is it for ESL to ask for the info on page 6 of their new DAF: about contacting my work place and having basically carte blanche to do with my data/information what they please? Here is the link to the new DAF, page 6 for the FPN : https://www.dropbox.com/home?select=...io+New+DAF.pdf

I was given to understand that deferment is granted by you 'showing' you are earning under the deferment threshold at least that was the case with the SLC. Its basically self cert.

So Erudio's actions on this DAF constitute a change in the original terms????

Thoughts?

[Nibbler]

Re: Erudio woes

Well, paul Here is pt2537 who works for QSHowletts Solicitors.

And was of the opinion the other day that...

[Pluthero]

Re: Erudio woes

Hello all Erudio Prisoners. Posting this from another place and it has to be worth a shot SO EMAIL A COMPLAINT IN TO: consumer.queries@fca.org.uk

Quote:

Originally Posted by eroneo Amongst the users of this thread (MANY AND OTHERS) there is a mountain of evidence that if brought together could show they are not fit to have a credit licence.

Erudio currently have only 'interim permission' and like every other consumer credit business, will have to apply for full authorisation with the FCA over the next year.

This is the perfect time to make the FCA aware of how we are being treated by Erudio, but it will probably take a fair number of complaints to have any impact.

Anyone who feels they're not being treated fairly by Erudio (and that must be pretty much all of us!), please pass details to:

consumer.queries@fca.org.uk

[flossybeth5]

Re: Erudio woes

I received a great letter from Erudio today regarding my arrears and the confusion surrounding deferment being passed on from the SLC - they agreed to everything, cleared my arrears and have sent me a cheque for 100 GBP. Result in my favour I think, and I'd like to thank you all for the advice about not phoning and sending everything by recorded mail because doing it that way meant they had no option but to acknowledge what I was sending.

[Nibbler]

Re: Erudio woes

Just announced

http://www.studentloanrepayment.co.u...ps001/rpips004

BIS today (14th August) announced changes to the Interest Rates and Thresholds of Income Contingent Student Loans and Mortgage Style Student Loans.

Mortgage Style Student Loans

The interest rates and deferment threshold for Mortgage Style Loans, from 1 September 2015 to 31 August 2016:

• the interest rate for mortgage-style loans will be 0.9%;
  
• the deferment threshold for mortgage-style loans will be £28,828.

Those with mortgage style student loans queries should contact their loan administrator.

[fiphilip]

Re: Erudio woes

NEW POSTER: I fell into one months arrears earlier in year as i blocked them from taking money from me last year while I was on maternity leave (they took without my knowing) - since then I agreed to split the payment missed over 12 months and pay slightly more each month to cover this - without fail every month since then I have had a call, usually before 8am in the morning, from someone asking me for money as I am in arrears, usually when I am driving boys to school / nursery / then to work - incredibly stressful I have to go through this on a monthly basis... feel totally harassed

[wales01man]

Re: Erudio woes

Can to barr them from calling your mobile I presume you don't answer it whilst driving

[Pluthero]

Re: Erudio woes

UPDATE ON the ERUDIO SELL OFF

Posting this from somewhere else. Kudos to ANNA for her tireless work in getting this information.

More good news - the sale & purchase agreement finally arrived from BIS earlier this evening! What with the dire complaints data (ERUDIO HAS PLACED HIGH UP IN THE FOS COMPLAINTS DATA: http://www.ombudsman-complaints-data.org.uk/ )
it's not been a good day for BIS/Erudio

As mentioned by ICO, there's a lot to get through, but there are a few gems so far in there on credit checks/reporting to CRAs, authorising Erudio to adopt different deferment procedures to maximise returns on loans, ability to change procedures and policies/exercise rights differently, etc. Also states that BIS must approve Erudio's DAF in writing, and we must be given the DAF 8 weeks in advance. And that's just for starters.

Part 1
The Sale and Purchase Agreement

Disclosure letter

Shared borrower loan side letter

Master Definitions Schedule

Part 2
Transitional Services Agreement (split into 6 files)



AWESOME WORK ANNA!

No way I can read all that but had a quick scan and CLAUSE 10.2.2 is the VERY interesting:

https://www.dropbox.com/s/nplvr6tjoyeoz1q/CLAUSE%2010.2.2.JPG?dl=0

BIS/GOVT have lied about the sell-off affecting our terms and conditions. REMEMBER THEY SAID THEY WOULD NOT BE CHANGING! In fact being allowed to change the terms/means of deferment/collection is written into the sell-off conditions and is a KEY factor in the Purchase Price!

ESL are allowed to use 'procedures .....materially different than those of the SLC....'

Any legal minds care to comment on this?

I thought assigned debts cannot have their terms and conditions changed without consent? Or indeed cannot be changed?

Can the FCA get involved in this? Surely it violates some consumer rights?

Thoughts?

[Pluthero]

Re: Erudio woes

RE the Erudio sell off documents and the imposition of new ‘procedures or Terms and Conditions’ being allowed by the Dept of BIS as part of the sale.

I wrote this to the FCA:

I would like to make the FCA aware of some information regarding the Govt/BIS sell off of my student loans. Under the sales agreement BIS have given ERUDIO the right to change the terms and conditions of deferment and collection. See section 10.2.2 of the sell off, here is the relevant clause:

https://www.dropbox.com/s/nplvr6tjoy...0.2.2.JPG?dl=0

Sale and purchase DOC LINK:
https://www.dropbox.com/s/pjzix1oh1a...ement.pdf?dl=0

Now the GOVT/BIS assured me at the time of assignment that the Terms and Conditions of my loans would not change as indeed the NOA from ESL did as well. This is a lie. They have actually written into the sale terms an agreement that 'ESL are allowed to use 'procedures .....materially different than those of the SLC....in order to increase the purchasers return [maximise profits]....'

I believe that assigned debt terms and conditions cannot be changed without consent?

Also you can see the effects these 'materially different procedures' or what are in reality changes to the terms and conditions, have had on honest deferrers with the FOS complaints data over ERUDIO'S behaviour : http://www.ombudsman-complaints-data.org.uk/ A Horrendous record I am sure you will agree.

How much suffering and lies do 250,000 ex-students have to endure before some legal body makes ESL behave in a responsible manner?

Thanks again for your time on this etc

Could I ask everyone affected by the Erudio sale to please complain to the FCA and indeed the FOS over this injustice.

Thanks

[HappyToBeHere]

Re: Erudio woes

Hi,

I'm in this position with the FOS now. The person there handling my case has sent me a copy of the DAF.

I am teaching under contract and receive about 6 or 7 irregular payments throughout the year. I keep explaining to them that there is no way to stop Erudio considering whichever of these are included in the form as what I get each month for 12 months of the year. They have told me there is no way they can help me with that!

Any suggestions? I'm also guessing that if I send the form via the FOS because its part of the complaint resolution, and that they don't have any problems with the form, I have to complete every detail, down to the fact that we receive food donations from a food bank. Will Erudio claim this is an asset?

Any advice? Well done everyone who has had to fight their way through this, and thanks for the forum, it feels good not to be trying to do this alone!

[Nibbler]

Re: Erudio woes

Paul Lewis on twitter this morning

Anyone with incorrect Erudio student loan demands please tweet me. Thanks.

[moo22]

Re: Erudio woes

NEED HELPI have been following these forum for a long time but never posted. I was in 2 minds whether to post as i don't want to put people off fighting these !!!!!!!s but this is my story (sorry for the long post).

12 months ago I was set to sign the erudio deferment forms as i have for the last 10 years but after reading these and other forums I filled it out but sent it back unsigned with a letter declaring my income along with the required proof. (The forms by the way came after 3 months of requesting them, even though in there t&c's they say they will be sent out 2 weeks before renewal date, erudio said they had sent them and informed me i was now in 3 months arrears). Erudio in reply refused the deferment, then aggressively and rudely ringing me insisting i had to sign the form.
This was start of a very time consuming battle sending letter after letter backing up the original student loan agreements, contacting FCA,etc. The months went by all the time receiving 'your loan is in arrears' letters but they still would not back down. A legal representative of Erudio contacted me with an offer of wiping the arrears of some months as long as i signed the form which i flatley refused. I then made an official complaint to erudio which by law gave them 8 weeks to review the case. Surprise suprise they got back to me literally a day before the 8 weeks were up to say they rejected my complaint.
So onto the ombudsman. More time consuming gathering evidence for the ombudsman as well as communication while erudio further dragged there feet taking ages to get back to the ombudsman's querys - another month passes, then another waiting for the decision. A summary of the ombudsman's decision was that (i)i could not prove deferment form had not been received on time (ii) that my overall complaint was to be rejected as 'an organisation are entitled to exercise their own commercial judgement and its own decisions how it operates'.
I was FUMING. The ombudsman absolutely screwed me. This maybe the case they can make there own decisions but i did'nt choose to sign up with this organisation (erudio) and did'nt agree to there terms when i signed the initial contract so it is a completely different scenario. They did'nt even give me the middle ground of saying take their offer of the reudced arrears, they have truly left me out to dry and i feel they did'nt even read my side. Literally 2 weeks after the decision i get a letter from erudio saying my account is in arrears and i owe them £2500. I have now received a letter saying this has to be paid within the next 3 weeks.

I really need some help i don't know what to do. I am so angry about a lot of things. I have lived my life responsibly and paid up things on time all the time. Suddenly these !!!!!!!s come into my life and absolutely destroy it. I am eligible for deferment and proved it, if i don't have the income to pay back the loan where do i get the money to pay the arrears. Those arrears have mounted up largely because erudio have dragged there feet (there not stupid) and many of them months i could not have paid if i wanted to (complaints procedure/ombudsman) it should be half that. Hence as soon as the decision went against me 12 months arrears on my credit file. A credit file that has been spotless for 20years. I only noticed because i went to get a new phone on contract (never a problem) and a mark came up so they refused me. We were looking at remortgaging, how will that affect things.
Reading on the forums people saying they have been deferred when not signing the form and the ombudsman giving in their favour, is this fact do these people exist? If so do i have any case for precedent.

So please people help me! What do i do? Should i pay the money? Should i pay back in installments? Is there anything i can do about my credit file? Is there anyone or anything i can turn to? Do i have any legal rights?
What can they do?

I sit here feeling it would have been easier to just fill the form in but i am a person of principal but this principal is getting me in the !!!!. I know this is exactly what they (erudio) wanted to acheive and this is what they do. I don't want debt collectors at my door, any advice much appreciated. (based on fact not opinion, please -no offence but i have followed through with a lot of things i have read on the forums which have not turned out well.

Sorry for the long post thanks for reading.

[Nibbler]

Re: Erudio woes

NEED HELPI have been following these forum for a long time but never posted. .

In that case you may well have noticed that Erudio are unlikely to ever admit that the forms are not a legal requirement, unless you threaten them with and follow through with court action. The lawyer Anthony Reeves has 'allegedly' won against them on this, but it looks possible that Erudio have managed to get these hushed up in return for settlement?

FOS and FCA/ICO are hopeless, as they either do not comprehend the problem, or are not prepared to rock the boat and p off their paymasters in government by undermining the student loan debt sale process.

[Wingco]

Re: Erudio woes

My son is going through similar woes with Erudio. He is a house husband (lucky git) who earns around £5,000 pa. He has always deferred successfully with SLC but Erudio keep delaying matters 4-6 weeks, ask for things he has sent previously, and generally keep stalling whilst taking £70 per month out of his negligible bank account. He has stopped his DDM but they are failing to return around £150 of incorrectly deducted monthly payments.
Are there any template letters or good advice on here?
These guys are earning loads of money by delaying tactics - I appreciate FCA and the Govmt are useless in these circumstances but is there another route?
Wingco