Drydens PAP letter of claim - old SLC Loan now with erudio

[ken gunnel]

I like many others objected to Erudio's new terms and conditions that I had to accept if I wanted to defer my student loan.

 

before the deadline I used the template letter and sent in my proof of earnings, but they just ignored me.

 

I sent it in again with another letter, and a note to say I didn't like being ignored.

 

They just ignored me.

 

Then they sent a default notice, giving me X number of days to contact them, the start date of these days was about a week before they posted it.

 

I wrote them another letter disputing the default and objecting to their inability to post letters on time.

 

Now they have terminated the loan and demand full payment in 7 days, yet again sent late.

 

Any ideas of how to deal with what appears to be a best slack, at worst criminal company?

[ken gunnel]

I sent in a letter, I would have liked to have used the form, but it appeared that I was signing away my rights if I did.

[ken gunnel]

They moved all the t&cs onto their website, to use their form I'd have had to consent to dynamic terms and conditions.

I was quite happy with the original terms and conditions that I signed up to, I assume they'll try to take me to court for the full amount now?

[ken gunnel]

They must have a game plan, why else refuse to defer people?

 

I sent everything recorded, so I can prove to a court that I've kept up with my obligations, but Erudio just ignored me.

 

Pretty slack, or obtaining money by deception?

[ken gunnel]

I've not checked my file, I Dont really want to as it seems like a way of the blacklists just harvesting more of my personal information.

[ken gunnel]

Year before I used a solicitor to force them to defer my loan - my contractural right after all.

 

This time I decided to just send the letters myself - I don't see why I should have to pony up £700 solicitors fees every year just because some chancers working out of a tax haven want to earn easy money.

 

When solicitor was on the case plenty of response, but they've ignored me, which won't look good in court I'd have thought?

[ken gunnel]

Today I get 4 letters from Erudio, 4 x arrears notices?

 

But the last letter was the termination notice?

[ken gunnel]

But I can't be in arrears if i've been terminated??

 

I feel like the whole plan is to mess everyone around and then scare them in to paying.

 

I guess I should reply to their latest letters pointing out that I have twice sent them proof of earnings?

 

But when I do write they just ignore me.

 

We need proper financial regulation in this country.

[ken gunnel]

I suppose sooner or later they'll try to take me to court, that's if the loans are actually enforceable?

 

We've all been missold over these,

the promise that having one would not effect your credit or access to other financial products,

and that they were a special sort of loan from the government,

not from a loan shark working out of a tax haven and that if you did not earn enough,

you'd not have to pay, all lies.

[ken gunnel]

Someone won - albeit because Erudio didn't respond, a couple of weeks ago, and Anthony Reeves has had some success last year, so Erudio are far from unbeatable.

[ken gunnel]

From another forum:

 

"The saga over Erudio's (and the mysterious 'Erudio Customer Management Ltd') FCA authorisation continues. Their interim permission with the FCA has now lapsed, so they're no longer authorised and are acting illegally if they continue conducting regulated business (put Erudio in search box here):

 

http://fca-consumer-credit-interim.force.com/CS_RegisterSearchPageNew"

 

So if Erudio are no longer FCA authorised, can they continue to run the loans?

[ken gunnel]

But on their website it says:

 

"Erudio Student Loans Limited is authorised and regulated by the Financial Conduct Authority for certain credit-related regulated activities. It is registered on the Financial Services Register under registration number 659653"

 

Does having a shareholder with FCA authorisation allow Erudio not to bother?

[ken gunnel]

"Arrow Global Group PLC (the "Group"), one of Europe's leading purchasers and managers of debt, is pleased to announce that its wholly owned subsidiaries Arrow Global Limited, Arrow Global Legh Limited, Arrow Global Massey Limited, and Capquest Debt Recovery Limited have received their full Financial Conduct Authority (the "FCA") authorisation." (http://www.arrowglobalir.net/news/rns/id/657)

 

No mention of Erudio??

[ken gunnel]

But surely they are acting illegally?

[ken gunnel]

Details of Project Ariel

 

https://www.dropbox.com/s/xir2wotrbc6n5s5/Consortium%20Project%20Ariel%20-%20redacted%20for%20FoI%20release%20v2.pdf?dl=0

 

"only qualifying customers who follow the relevant procedures, will successfully exercise their deferment rights under the loans"

 

"The Consortium expects to enable full credit bureau reporting of the loans"

 

"Seeking third party validation of key data"

 

etc.

[ken gunnel]

Its looking like everyone who was sold one of these loans was mis-sold.

[ken gunnel]

Only released yesterday?

[ken gunnel]

when I signed up to my mortgage style loan,

it was a regulated product sold by the regulated SLC,

 

 

I read that Erudio as a SPV are not a regulated company.

 

Have I been mis-sold?

[ken gunnel]

Looks like Erudio have decided to start using the courts.

 

Is there a common thread in the cases they've launched so far?

[ken gunnel]

Fresh one on MSE.

 

What does matured mean?

[ken gunnel]

http://forums.moneysavingexpert.com/showpost.php?p=72256047&postcount=6004

[ken gunnel]

Seems to be a new thing though, is this the start of the Erudio county court claim floodgates opening?

[ken gunnel]

I suppose they started out by trying to scare people into paying up by pretending that they were going to report the loans to the CRAs, then tried to get people to sign up to new T&Cs with the DAF.

 

Now the gloves are off and they are abusing (by using old addresses) the court system to cash in?

 

Given all the assurances and promises we were given when we signed up to these loans - we were all mis-sold?

[ken gunnel]

Are these student loans any different to any other debt ?

 

They were sold to us as being special, and parliament, loans with specific terms that only needed to be repaid if a certain income level was reached, and loans from a special state backed organisation.

 

How many would have signed up if they knew down the line they'd be sold to loan sharks working out of a tax haven?

[ken gunnel]

I tried to defer my loan under the conditions of it back in 2015, and despite sending a couple of follow up letters, didn't hear a thing back.

 

Next up Erudio cancelled it.

 

My solicitor tells me they are in breach of contract, so easy enough to defend if the decide to take me to court.

 

Then 4 years of statements, but nothing else.

 

Now I have Capquest hounding me (still Arrows).

 

If I reply to them does that reset the 6 year statute barred thing?

 

Given it's bound to end up in court I feel I should reply to their fairly tame but misleading letters.