n377y
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I dont seem to be able to change it from a jpeg to a pdf. Not the most technically savyy person sorry. Can you not read it. It really only has one line that says. Claim adjourned on terms the Defendants pay the current monthly instalment + £86 per month.
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I have looked back through the thread and I am a little confused to be honest. As it looked like I had two arguments for not paying the charges and I didnt really know which way to go. 1) was the N24. A ttached is the N24 which clearly says the Defendants pay the current monthjly instalment + £86 per month and makes no reference to the Charges and Interest that were made PRIOR to this. The £86 per month was for the arrears and would have taken me to the end of the loan period, however I managed to settle this in full in 2010. Maybe another point worth mentioning is that when I discussed the charges and interest at the time of settling the arrears in 2010 they said that I didnt need to pay them at that time and they could be settled at the end of the loan term. [ATTACH=CONFIG]53481[/ATTACH] The other argument seems to be whether the charges and interest are lawful. There seems to be alot of information about reclaiming unfair charges, but as I have not paid them this is not a reclaim. The next argument is that it could be statute barred. I also think I could have a case for irresponsible lending as we were both self employed at the time and we were definately coerced into the second loan, just before Christmas etc. I think last year I found it all too stressful to look at, but as I am now seeking closure by way of a divorce, and I have finally repaired my credit history this is something that I must sort out. I just wish I was a bit more savvy with stuff like this, I find the legal jargon hard to get my head round, but will do my best. So are you able to advise on the N24 by any chance please? As the charges and interest are not included - do I have a case ? also if I do how do I get the charge removed from my property? Is this the simplest route? Netty
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Thanks Brigadier. I can do that but will this cause me problems in remortgaging as they say they "This means that we have been unable to settle the loan and remove our charge over your property with the land registry". Im going through a divorce and will need to remortgage. Im seeing this as a spanner in the works.
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Please excuse my ignorance but what is a CC claim. I understand what you are saying, but I also received a letter off them yesterday asking me to contact them and arrangement payment of the oustanding balance. If it was SB are they allowed to do this?
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I was wondering whether the fees and charges may be statute barred because they dont seem to be exorcising any powers to collect them which has made me suspicious. However I cannot understand if this is the case why they refused to reduced the debt. I was looking for a 50% reduction in view of the fact that they had charged me on both accounts. Why would they not accept this?
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I took out 2 secured loans on my property with CT in 2006. Both loans were taken out within 14 days of each other. We had decided to increase the loan and unfortunately this resulted in 2 separate loan agreements with CT. I did query this at the time as I did not want two separate agreements and was told that it was due to administration and credit checks etc etc and could not be changed. 12 months later Nov 2007 my marriage broke up and my business collapsed and the secured loan fell into arrears. This resulted in additional charges entitled "collection fees" and additional interest being added to the loan account. It was some 18 months later inJuly 2009 that I was able to start repaying the loans (no fees were added when I went into an arrangement) and the arrears and it took me until April 2010 to clear the arrears and the loans were finally repaid at the end of 2013. However the collection fees and interest that were added to the accounts (both accounts) from Nov 2007 to July 2009 are still outstanding on the account. There is currently just over £4k outstanding. I have raised two complaints with CT one in 2010 and one in 2013 asking them to halve the charges, as it seems unfair to double charge on both loans. Following my last complaint in 2013, they refuse to give me a detailed response as they say that as the inception of the loans took place more than six years ago the matter is in fact time barred and outside the jurisdiction of the FOS. Their Legal Charge remains on the property until such a time as the full debt has been satisified. They have stated that they have no intention of taking legal action or going to court to repossess my property for payment of this charge. I get the odd letter probably about twice a year asking me to ring and discuss this which I ignore. My own feeling is that there is something not quite right about this. Any insight or advice would be much appreciated Netty
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Many thanks
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I've used this site some time ago but I just cannot find my way around it. I'm wanting to post a thread to get some advice about substantial charges I incurred on a secured loan. Where is the best place to post this and how do I do it. If someone could help I'd be so grateful
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Hi sorry Brigadier2jcs I missed your post. Would the judgement order normally include costs if I was to pay them too. As I have been passed on the costs too. Dx I do not have a scanner but will have ask a friend this week if I can borrow hers.
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But it is in their terms and conditions. If I fall into arrears and they have to pursue me for payment are they not entiled to something?
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Yes they are and I have been reading other threads relating to these charges, but cannot seem to find any success relating to secured loans. Mortgages, yes, but second charge loans no success stories. Information I find relates to borrowing regulated by FSA, but second charge loans are regulated by OFT. They say the charges reflect their collection costs.
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Mmmm I think I understand. They made a claim for possession and the hearing date was set. However during the run up to the hearing date they did a U turn and accepted my payment proposal however they wanted this secured by way of a suspended possession order. I argued against this and the judge adjourned it on terms - the terms where that I paid the monthly installment plus £86. There was no mention of additional interest, simple interest or charges on the N24.
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Thanks dx I do appreciate the support.
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Please can someone advise me? Do I need to consult a specific type of solicitor, or should I go through the FOS? I just need pointing in the right direction. Netty
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I queried this and they advised: "In relation to the interest charged each month your payment covers the interest due on the loan, the whole of your monthly instalment does not come off the loan balance each month you pay interest towards the loan, initially you pay more towards the interest on the loan then as the loan progressed through its term more comes off the balance as less towards interest. The "simple interest" payments you see on the statement relate to interest charged on the collection charges, for the first 28 days we are not allowed to charge interest on Collection Charges to give the customer the opportunity to pay the Collection Charge after this time we can charge interest each month on the Collection Charges which remain unpaid." Im afraid I find it all very confusing.
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