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Erudio, arrears, re-payment schedule and telephone calls


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I cancelled the direct debit and the payment was returned into my account.

 

 

I've recieved copies of the original agreements from them.

 

 

Erudio have calculated payments over one year to reclaim the full sum based on what they have called 'the end date for the original agreement'.

 

 

Is there such a thing or is this related to their new terms and conditions (which I haven't signed)?

 

 

They called me on the phone (whoops yes I answered - I didn't know it was them)

and I requested further information about the end date but have not recieved anything from them about it.

 

 

I haven't responded again in writing following recipt of agreements and one of the new style deferral forms as previously they've ignored my letters.

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The loans are a set number of payments. 60 if you had 3 or less loans.

 

End date is whenever those 60 are paid, which is not a fixed date. They can only make you pay what is left over one year if you have already paid 48 monthly instalments so have 12 left.

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  • 5 months later...

Yes its still live

 

Dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I'm confused.

 

I have had some debt in the past and on these occasions the interest payments on the debt has ceased once it has gone to a DCA.

 

Given that Erudio is a DCA

 

can someone explain why they can continue to charge interest?

 

1. These loans have been sold as ongoing loans under the original T&Cs, simply substituting in the buyer as the creditor. That means they have every right to do everything the original creditor did, including charging interest. Different to a DCA that buys up just the default/bad debt.

 

2. Besides that, it is a common misconception that a DCA that buys a debt in on MUST always stop charging interest. If the T&Cs or the original contract allow interest to continue to be applies, even after say a default, then the DCA that buys the debt can carry on doing that. It is just that many contracts either do not allow that, or DCAs do not bother to do it if they do.

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Can anyone advise on the following?

 

I am eligible for repayments to Erudio for loans with SLC dating 95-97 however they sent me a schedule with payments for the whole sum over one year. When I write to them they completely ignore my letters and do not respond.

 

I will make payments when the schedule is sorted out even though I'm unhappy about it - SLC never took my benefits into account but Erudio do and that's why I'm over the deferral cut-off.

 

because they're not replying the situation is not being sorted out and they've written to me now saying that my account is in arrears.

 

If they can claim that I let the account go into arrears I will miss out on the remaining loan repayment being dismissed once I reach 50 in a couple of years time

 

. It's like they're deliberately ignoring me so that they can claim I've gone into arrears..

 

.. I've also asked them not to ring me and to put everything in writing but they ring three times a day.

 

Would it be a good idea for me to cover the repayments I've incurred so far by sending them a cheque without having recieved the correct schedule and just simply outlining the situation as I see it,

 

then making monthly repayments of what I think the payments should be?

 

Or shall I keep waiting for them to get their act together and to sort it out ?!

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Yet again another thread merged to your existing thread on erudio

 

please keep to one thread

 

Dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Yes

Should help you as well as the readers as all the history is seen without repeating advice or repeating questions

 

Pers I think they are taking everyone for a fool.

 

Dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Can anyone advise on the following?

 

I am eligible for repayments to Erudio for loans with SLC dating 95-97 however they sent me a schedule with payments for the whole sum over one year. When I write to them they completely ignore my letters and do not respond.

 

Would the loans be written off due to reaching the age limits in a years time then? They are trying such a [problem] with many people. Trying to make people pay it all off against the original terms so they can avoid having to write off what is left unpaid in a years time.

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:lol::lol:

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 3 months later...

They stopped calling me and appointed someone to write to me.

They offered me £50 compensation for the poor response I'd received to letters I'd written querying the repayment schedule etc.

 

 

I refused the compensation as the matter hasn't been resolved.

They claim that the arrears are now owed in full and they will be issuing a default notice if I don't pay up.

I intend to write to them one more time to try and resolve the matter before approaching the FOS.

 

I've only just got my credit rating back onto a firmer footing after years of default

my question is whether or not this potentially threatens my credit score again

and whether I should worry about it

- i.e., pay what they're asking if I don't want that to happen?

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  • 3 months later...

This is what happened in the end to my case as highlighted above

- Erudio sent me a default notice and I paid the money.

 

 

They never accepted that the account was in dispute

- apparently only they get to decide whether an account is in dispute or not.

 

 

I made a complaint to the financial ombudsman.

I got a phone call from the person who had taken on the case

and she gave the impression of concern etc but it didn't last long.

Her final decision was to agree with Erudio.

 

 

Apparently the SLC had taken the lump sum voluntary payment that I made to offset payments

- I don't know whether I had any choice in the matter as it was some years ago

- this meant that they were considered to be ordinary payments so affecting my repayment schedule

- it meant I had 14 months to pay rather than the 60 that I thought I was entitled to.

 

 

FOS didn't respond to my question of why I had been sent a 12 month repayment schedule.

Neither did she respond to my concern that only Erudio can determine whether an account is in dispute or not.

 

 

she said it's up to Erudio how they want to run their company.

She wasn't at all concerned that they took over a year to respond to my concerns

- and that swiftly followed by the default notice.

 

 

the bottom line was - I wasted my time thinking the FOS cared a hoot.

I did get the cheque for £50 compensation

- FOS were happy to follow that through for me.

 

 

It would be good to hear from others as to how you got on with the FOS.

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