First National/GE Money home loan now with Asset Link DC

morsy · 24th January 2007, 19:40

Basically my parents took out a finance agreement with First Nat. Bank. My dad's illness became worse my mum had to go part time can't afford full payments they employed a debt management company who tried to negotiate a reduced payment and messed every thing up.
First Nat refused and sold debt to Asset Link capital they now have a forthwith order (making the whole loan immediately payable) with an instalment order, they are now going after a charging order to secure the loan against the house. They have so far obtained an interim charging order with a hearing for a full order soon.

The credit agreement has been sold with PPI which my parents don't need (dad is on state pension, mum get her state pension in 3 months, both have health problems) so it’s useless for them. I have written to both Asset Link and First Nat to point out that the balance they are demanding payment of includes PPI its also included in amount on the forthwith order. They did not request PPI.

Asset Link refuse to remove the PPI as my parents signed the credit agreement. The loan was for £3k then PPI is £500 the total amount payable is about £4,500 which includes interest on both the loan and PPI. Asset link are also adding further interest on to what my parents own them not sure the amount they now owe.

I have asked them for a statement of account I also note that my parents never received any default notice form First National/GE Money. FN/GE won't talk to us about the loan they just refer us to Asset Link who are not at all helpful.

Is it also passable to find out how much the loan was purchased for?
How can I get the PPI removed from what they own and stop any further Interest being added?
I also need to get the Charging order stopped/removed.

Any help advise or pointer please ...

bottomburp · 25th January 2007, 18:55

morsy · 27th January 2007, 23:05

Any one got any ideas or pointer on what to do?

bach · 31st January 2007, 17:11

Hi Morsy.

Im dealing with First National GEMoney at the moment for PPI, Im not able to help you but suggerst you put a new thread on the PPI link some one there will be able to help
Good Luck Lynn

sequenci · 31st January 2007, 17:24

Quote:

Originally Posted by morsy

have a forthwith order (making the whole loan immediately payable) with an instalment order, they are now going after a charging order to secure the loan against the house. They have so far obtained an interim charging order with a hearing for a full order soon.

are you sure it is forthwith with instalments? when was it granted?

sounds like a hybrid order to me, was it from northampton county court?

morsy · 31st January 2007, 17:52

Yes its a Hybrid order issued at Northampton CC issued in Nov 06 think

sequenci · 1st February 2007, 10:45

In my training about these, we were given a couple of options, I’m not sure how relevant they would be in your particular case. It would be worth getting in touch with a law centre or solicitor’s firm or possibly CLS direct.

1) Apply for a variation. If it is turned down apply for a re-consideration hearing which should give automatic transfer to your local county court. As the interim charge has already been applied for it is likely for the court to making the charging order final, but request terms on the n245 such as no order for sale etc.

2) Apply for a set aside of forthwith CCJ & Hybrid order. Argue that the combination of the forthwith judgment on n30(2) and the n24 hybrid judgment is confusing and the n24 makes no reference to the right to reapply for re-determination within 16 days, only an application for variation, amendment or set aside with 7 days.

morsy · 1st February 2007, 12:10

The order was issued in Nov 06 so any time limits on the order are long gone.

I have made an application for set aside / variation based on the fact that the amount on the order is incorrect as it includes single Premium PPI.

This is to be heard with the charging order. However my mum reckons she was not behind with any payments or not more than one month when She employed a DMA to handle her finances. They wrote to FN/GE Money requested a reduced payment for a period of time.
They refused this and sold debt on.

My parents never received any default notice or notice of transfer to a DCA.

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