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

[morsy]

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 hybrid 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 single premium 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 when taking out the loan.

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 ...

[hellhasnofury]

Hello I was so sad to read your thread. It sound like the company who sold you the insurance did not ask about whether it met with your parents requirement or not. If he was in ill health when the policy was taken. If he claimed they would have not paid up. You may be able to get all the info your need if you send them a Subject Access Request It will cost you £10.


Your address

Their Address
Date
DATA PROTECTION ACT 1998
SUBJECT ACCESS REQUEST


Dear Sir/Madam
Account names and Account No

I understand that you currently hold details of my personal and financial information within your internal record systems with regard to personal loan accounts
Please supply me with a complete list of transaction and charges relating to my history with your organization, INCLUDING Loans and other products. Alternatively a complete set of statements for the accounts or associated accounts is acceptable. I would be grateful if you would provide the following for ALL accounts or associated accounts I have held with your organization:
-Full copies of all contracts which you believe exist or have existed between myself and your organization, including true copies of any documents you hold in support of the same.
- A complete list of all transactions or statements relating to ALL of my Loan Accounts with your organization.
-Copies of all documents which include any of my personal information including copies of any contacts or invoices, emails or computer records containing my personal information, or any records which pertain to this information.
-Full copies or transcripts of any correspondence in postal, email or any other format which you have entered into with any individual, organization or third party which contains my personal or financial, or which pertains to me.
- Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, please provide a declaration, signed by an authorised officer of your company, confirming the dates and methods of destruction of this data.
-Full hard copy print outs of my personal or financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage devices / locations.
I enclose a cheque in the sum of £10 to cover your fee.
IF YOU UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIALTELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISATION RESPONSIBLE FOR DATA PROCECTION.
I look forward to hearing from you in the first instance of receipt.

Yours faithfully

But it may be worth it to see if you can get any info of mis-selling this insurance to your parents. Have a look also at this Fraud Bill [HL] to see if there are any section that you can apply to the mis-selling.

If you need to ask any question post them on your thread and if you do not get any response send reidnet a private message. He is great. Read as many threads as you can and you will find your parents are not the only victims of these legalised loan sharks.