Erudio Student Loans Continued part 3

[erudioed]

I dont know if this is the right way to do it and i apologise if it isn't but this is the continuation of www.mumsnet.com/Talk/legal_money_matters/a2057131-Erudio-Student-Loans-Continued

heres the link above that doesnt work again:
www.studentloanrepayment.co.uk/portal/page?_pageid=93,3866911&_dad=portal&_schema=PORTAL

Does this work?

www.studentloanrepayment.co.uk/portal/page?_pageid=93,3866911&_dad=portal&_schema=PORTAL

how did you do that, you have magic in your method mandakl!

Just put the double square bracket round the whole link so it includes it all.

link

Tells you how to at the bottom of the page to the right of the smiley list

www.legalbeagles.info/forums/showthread.php?50534-Erudio-Debt-Collection-Company-Harassment-of-Former-SLC-customers/page2

Not sure if this link will work. It is connection with harassment and intimidation from Erudio.

IN connection

nice one bluecoconut. The person at the end says he is a lawyer writing a book on debt collectors. He wants to see some evidence about the CRA issue. He states:
"I believe that a lender can pass on information to a Credit Reference Agency if it tells you it will do so in the Terms & Conditions. I was looking at the agreements (pre 1998 and then post 1998). The agreement pre 1998 does not appear to have a term about passing information to CRA's. The agreement post 1998 has a term that information may be passed to a CRA if the terms of the agreement are broken and in a few other situations (eg where there is fraud or to others required to have it by law.) However, if you legitimately obtained a deferral under the terms then that I cannot believe would be a breach and hence no basis to allow passing of information to a CRA.

So perhaps a basis to bring a claim for breach of contract. Perhaps those affected might like to contact me with all the relevant documents so that I can make a full and proper assessment. If appropriate, maybe I could assist in the taking of action against them for you."

Im not a member on that site but if anyone is, he could be very interesting to talk to...

erudioed - I came across it yesterday. I wasn't sure what I could and could not say about the content on there.

I'm not a member of that site, but if at any point I do have a grievance or dispute with Erudio I would contact the person who has posted on there.

Erudio and BIS and the Information Commissioner all agree that clause 16 in the pre 98 contracts is sufficient to allow sharing with the CRAs

16 Disclosure of information

The Loan Act prohibits us from discussing information about you to anyone else for the use of soliciting custom for goods and services. The Data Protection Act 1984 also contains protections in relation to the disclosure of automatically processed information about you. Subject to these prohibitions and protections, and any other statutory provisions, we may however, if we judge appropriate, disclose to any person any information concerning or relating to this agreement.

Only way to really test that is in court in front of a judge.

Anyone game?

heres some banter that may interest you near the top somewhere:
twitter.com/simonnread/status/499194416234778625

Mandakl RE: 16 Disclosure of information

I put the sharing info (of deferred loans) with CRA's in my FOS complaint. My reasoning is thus:

CRA reporting for loans legally in deferment was not part of agreement I originally signed up to. In fact at the time I took out the loan it was stressed that I would not suffer any detriment to my future financial health if I failed to secure employment under the deferment threshold. This is WHY I am entitled to defer them and WHY they will be written off after 25 years. Erudio want to place my legally deferred loans on CRA’s as ‘on payment Holiday.’ This is not a correct definition of 'payment holiday.' It is saying I am not ABLE to pay the loan when in reality I am not LEGALLY OBLIGED to repay as I am under the deferment threshold.

And that's without even getting into and Data protection act arguments about how my data will be shared and how a company asks ME about it being shared.

Will report the FOS judgement on this thread and others.

Oh and I'm on Legal Beagles too. There is a debt collection agency specialist guy willing to look at complaints/issues/cases: maybe we can all get together for a class action suit?

Just a quick one. Theres a new article on MSE with Q&As about why the threshold has changed, with BIS even taking part.

Here is 1 section:
Is the reduced deferral threshold anything to do with the sale of loans to third parties?

BIS says this is "categorically not the case". As outlined above, the calculation used to work out the annual deferment level is set out in legislation and outlined in borrowers' loan credit agreements, which are also regulated by the Consumer Credit Act 1974.

And here is the article: www.moneysavingexpert.com/news/loans/2014/08/student-loan-deferment-threshold-to-fall-qa-on-why-its-happening?_ga=1.166743038.1169245283.1404124670

It doesnt quite explain why it is the single biggest increase or decrease by almost double the largest previous figure, so the statsitics they use hold the key answer to if it is correct or not...but it does seem a rather huge and convenient decrease for ARROW GLOBAL/Erudio. I guess we can all celebrate their fantastic bit of luck, Capita must already be salivating at the prospect of entrapping some of us next deferment period and getting an even larger bonus next time out.

@pluthero
I would be up for that if the lawyer finds a strong angle.

@Pluthero FOS often refuses to arbitrate on points of law, but looks at what they consider to be fair instead.

I hope they see the right side of it all the same. Certainly worth going to them as I've suggested before as a decision by them accepted by you is legally binding on a company, but not the other way around, meaning it's always worth a shot at pushing forward.

In the end though unless Erudio, BIS etc all do a U-turn under concerted pressure, then only way to settle it for all of us would be in court challenge. That is difficult, and I suspect they know that full well, and are depending on no-one having the guts or resources.

Regards legalbeagles, yes that is a good site.

Richard Durkin from this www.theguardian.com/money/2014/mar/26/supreme-court-victory-hsbc-pc-world

has a couple of long threads accounting his battle on there for just one example.

Apparently wages have increased by 0.6% this year, fascinating how the threshold can decrease...

And wages are forecast to increase next year too... according to the Bank of England

I dont understand this figure they are using, can anyone explain it to me like im a 3 year old.
If thats a factor littlemissgreen then it makes even less sense to me how it can jump down so significantly...almost double the biggest previous change by £1000.

I went to ask a freedom of information of how they got their figure. Someone has beaten me to it!

@Littlemissgreen Sorry, that'll probably be my FOI request ;) The threshold has no way of impacting me but I was soooooo curious how they got to that figure. All seems a bit weird to me.

Sarebear.
I already pay my loan back as just over their current figure but I just don't see how they can lower the threshold. Especially as it becomes so close to the universal credit cut off threshold meaning people on benefits would be paying off loans, yet you wouldn't expect people on benefits to have a spare £200 a month to pay off student loans...

Seems simon read and paul lewis are aware of the threshold change and having a short communication about it. Simon Read thinks: This seems wrong “@paullewismoney: Govt cuts deferment threshold for mortgage style student loans by £2048 from £28,775 to £26,727”

This link should take you into the twattershpere:
twitter.com/simonnread/status/499316297122185216

Just spotted a new FOI request that i personally thought is right on the money but may amuse one or two as well. If it gets answered honestly by BIS, which it definitely wont, more people than just us will be asking some serious questions.
Here it is anyway:
www.whatdotheyknow.com/request/erudio_student_loans#incoming-549486