Erudio student loans: time to complain to the ombudsman?
![Eurdio bought the outstanding debts from the Government last autumn Photo: Getty Images](https://static.independent.co.uk/s3fs-public/thumbnails/image/2014/03/27/20/students.jpg)
Support truly
independent journalism
Our mission is to deliver unbiased, fact-based reporting that holds power to account and exposes the truth.
Whether $5 or $50, every contribution counts.
Support us to deliver journalism without an agenda.
![Louise Thomas](https://static.independent.co.uk/static-assets/support-us/louise-thomas.png)
Louise Thomas
Editor
Former students being aggressively chased for debts could soon deluge the Financial Ombudsman Service with their complaints.
Student from the 1990s are fed up with the tactics of the firm which bought the outstanding debts from the Government last autumn. Erudio Student Loans paid just £120m for around £900m-worth of debt and last month contacted graduates with demands for proof that their loans do not yet need to be repaid.
Those concerned have repayments deferred because their wages have stayed below an earnings threshold.
Yet many have had money wrongly snatched from their accounts by Erudio, which is owned by debt collecting giant Arrow Global.
However, i has taken up the case of several and Erudio has apologised and repaid the money, or the fed-up former students have reclaimed it under the direct debit scheme after confirming money was taken in error.
For instance, reader Debbie got in touch after £84 was taken from her account. After i’s intervention, she reported: “I had the £84 credited to my account by Erudio yesterday.”
But despite the firm ’s promises, more are reporting bad experiences and plan to complain. If they don’t get satisfaction they can turn to the Financial Ombudsman Service. It gets 50 new debt collection complaints a month and upholds 40 per cent.
The ombudsman said: “If you feel you’ve not been treated fairly by a debt collector, or that they are not taking your circumstances into account, get in touch – we are here to get things sorted.” Details at financial-ombudsman.org.uk
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments