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    • Name of the Claimant ? Erudio Student Loans Ltd   Date of issue – 9th Jan 2020   Particulars of Claim   What is the claim for – the reason they have issued the claim? 1.The claimant claims £10,100 for monies due from the defendant   2.The debt was pursuant to a regulated agreement(s) between the defendant and The Student Loans Comedy Limited. Each agreement had an individual account number as follows  XXX XXX XXX XXX   3.The defendant failed to make payments as per the terms resulting in the agreements being terminated. Notice of such is served by a Default or Termination Notice subject to the terms of the agreements.   4. The debt was assigned to the claimant on XX/XX/2013, with a notice provided to the Defendant. A new master reference number XXX was also applied upon assignment 5. The claimant has complied with the Pre Action Protocol for Debt claims.   What is the total value of the claim? £10,100  Have you received prior notice of a claim being issued pursuant to paragraph 3 of the PAPDC ( Pre Action Protocol) ? No    Have you changed your address since the time at which the debt referred to in the claim was allegedly incurred? Yes, possibly more than once. This claim form has been sent to my home address   Did you inform the claimant of your change of address? No, I have never heard of Erudio before I received this claim form.  I did notify The Student Loans Company Ltd about my address change though. Is the claim for - a Bank Account (Overdraft) or credit card or loan or catalogue or mobile phone account? Student Loans   When did you enter into the original agreement before or after April 2007 ? Before.   Do you recall how you entered into the agreement...On line /In branch/By post ? I think I signed the forms in person, although it would have been about 25 years ago so I can't be positive.   Is the debt showing on your credit reference files (Experian/ Equifax /Etc...) ? No   Has the claim been issued by the original creditor or was the account assigned and it is the Debt purchaser who has issued the claim. It says that the debt was assigned.   Were you aware the account had been assigned – did you receive a Notice of Assignment? No, I have never received any notice of assignment   Did you receive a Default Notice from the original creditor? Not to my knowledge   Have you been receiving statutory notices headed “Notice of Sums in Arrears”  or " Notice of Arrears "– at least once a year ? Not that I remember   Why did you cease payments? I always returned Deferrment notices to The Student Loans Company as I never earned enough to have to start repaying these loans. I still haven't. But the SLC stopped sending deferment notices to me, and in fact stopped sending anything to me. I don't know when the last time I had any communication from them.   What was the date of your last payment? I've never paid     Was there a dispute with the original creditor that remains unresolved? Not to my knowledge    Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt management plan? No I did not   This is for a huge amount of money, and I've never heard of Erudio before I received this. I do sometimes have problems with my post at my home address.  I really appreciate all help that anyone can give with this. My ideal outcome on this would be that they drop the court action and I send them Deferment notices for the future.
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spudafett

Misselling of FirstPlus secured loan.

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Hello all,

 

 

I successfully claimed my PPI back from FirstPlus and am now looking in to the possibility that the entire loan was missold.

I recently wrote to them outlining my issues, which were:

 

• The mortgage was not suitable for me.

• The adviser did not properly establish my attitude to risk.

• I was not advised that there were other options, such as a DMP, that I could have pursued.

•Your adviser did not give me examples of the cost of a Capital and Repayment mortgage compared to the lower costs of an Interest Only mortgage.

•When remortgaging to consolidate my debts I was not advised that it would be cheaper for me to put all of my loans, credit cards and finance onto my existing mortgage rather than remortgaging.

•I was not advised that by remortgaging I was exchanging my short term debts for a long term debt by adding it to my mortgage. It was not explained to me that although I would be lowering my monthly outgoings initially, I may well be lengthening the term of my debt and vastly increasing the amount of interest that I would be paying.

 

Loan was originally for £51K over 25 years.

I then received a phonecall from FirstPLus asking to reiterate my concerns, only to be told that based on my concerns and as my loan had be through a broker I needed to contact them (Compass), if they were still trading?!, to resolve my issue.

When I successfully reclaimed all my PPI, which was brokered at the same time as the loan, I went straight to Firstplus who dealt with it directly.

This all sounds a bit smoke and mirrors to me, so would appreciate any advice/info you could give.

Cheers

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Can't offer any advice on this just now, but I am thinking of pursuing a similar strategy with my own secured debt. I will watch your thread with interest. Please update regularly :)

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I've had no luck trying to find out information on this, without resorting to paying for advice, so am going to go through the FOS and see where that takes it.

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I've had no luck trying to find out information on this, without resorting to paying for advice, so am going to go through the FOS and see where that takes it.

 

 

I think that is probably the best route. I would imagine they might force First Plus to either accept responsibility or hand over the name of a contact with the broker.


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However, reading the link to the FOS within my post it seems I shouldn't bother with them either?! So my situation is 1) Not enough free time or expertise to pursue this myself 2) Not enough money to let a solicitor pursue this 3) Not wanting to let a claims company pursue it, taking 25% of my money stings too much! and 4) Using the FOS who aren't really up to the job either.

 

 

I am at a loss now...

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Surely a claims company taking 25% is better than doing nothing? After all, 75% of something is better than 100% of nothing.

 

 

I'm in the same boat with Idem (was Picture loans) and like you, haven't got the time to pursue it so I am going to leave it with a claims company to sort out.

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If you are trying to get the debt extinguished due to mis-selling, what money is there to get from the company that a claims firm will take 25% of?

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UPDATE...

 

FOS says as it was a broker lead, FirstPlus didn't do anything wrong with the info they were given.

 

Broker has ceased trading so it would be up to the FSCS to look in to the case. I tried, but as it happens, they don't deal with 2nd mortgages!

 

So, I'm now stuck with a loan I believe was mis-sold and no one I can turn to for help.

 

Great.

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