Erudio Student Loans
http://dbpedia.org/resource/Erudio_Student_Loans an entity of type: Abstraction100002137
Erudio Student Loans is a consortium formed by debt collectors Arrow Global and private equity firm CarVal Investors in 2013. The firm was the successful bidder in an auction to buy non-performing U.K. student loans in 2013, paying £160m to buy debts of £890m taken out between 1990 and 1998. Of the loans purchased, 46% of the borrowers were earning below the amount at which they were required to make payments, 14% were making payments and 40% were not making any payments.
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Erudio Student Loans
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Erudio Student Loans is a consortium formed by debt collectors Arrow Global and private equity firm CarVal Investors in 2013. The firm was the successful bidder in an auction to buy non-performing U.K. student loans in 2013, paying £160m to buy debts of £890m taken out between 1990 and 1998. Of the loans purchased, 46% of the borrowers were earning below the amount at which they were required to make payments, 14% were making payments and 40% were not making any payments. The Independent noted that debt collectors Arrow performed very poorly during the credit crunch and that similar organisations had a reputation for unwarranted threatening letters, phone calls and visits; David Willetts had ignored the implications for former students, his prime objective was to reduce public debt. CarVal Investors, private equity firm provided most of the cash.
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