Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
My wife and i at the point of dispair. In 2006 we foolishly ran up considerable debts on credit cards and applied for a consolidated loan with Barclays. I have been with the bank for 30 years and trusted them. We took out a loan for £58,000 with repayments of £440 per month. He then suggested a saving scheme of £110 a month which after 5 years we would recieve a lump sum of £14000 which included insurance should anything happen to us. This left my wife and i payments of £1000 a month for our mortgage and £550 for the loan (this payment has now gone up by 20%) although our earnings were only £2300 per month combined. I know this sounds crazy but we were desperate with 2 small children to support and i had only been in employment for 1 month after being self employed.
My wife and i quickly fell into the same trap and we had to beg for money from my relatives but this has come at a huge personnal cost. We approached the bank to extend our mortgage in April 2008 only to be told our loan was £72000 not £58000 and that we must repay the whole ammount we were devastated. On exanination of our agreement we have found that we are paying for PPI as part of the loan at 10.5% and we must continue to pay this for over 2 more years or loose the lot. We are drifting into the same abyss.
We were considering a law firm to help us challenge the validity of the loan or do you think we will be fleeced again.
My wife and i at the point of dispair. In 2006 we foolishly ran up considerable debts on credit cards and applied for a consolidated loan with Barclays. I have been with the bank for 30 years and trusted them. (Yes I did the same) We took out a loan for £58,000 with repayments of £440 per month. He then suggested a saving scheme of £110 a month which after 5 years we would recieve a lump sum of £14000 which included insurance should anything happen to us. (He suggested it as it would be a nice big fat bonus in his pocket) This left my wife and i payments of £1000 a month for our mortgage and £550 for the loan (this payment has now gone up by 20%) although our earnings were only £2300 per month combined. I know this sounds crazy but we were desperate with 2 small children to support and i had only been in employment for 1 month after being self employed.
My wife and i quickly fell into the same trap and we had to beg for money from my relatives but this has come at a huge personnal cost. We approached the bank to extend our mortgage in April 2008 only to be told our loan was £72000 not £58000 and that we must repay the whole ammount we were devastated. On exanination of our agreement we have found that we are paying for PPI as part of the loan at 10.5% and we must continue to pay this for over 2 more years or loose the lot. We are drifting into the same abyss. (You can reclaim but read up first gather information ask for more advice and then reclaim your money on what would probably be a useless Insurance policy if you check the small print and all the exclusions)
We were considering a law firm to help us challenge the validity of the loan or do you think we will be fleeced again. You can do this yourself with CAG help I have been reclaiming for 11 months and used the fos three complaints to them, one to the ICO, two to the FSA, one to the BBA and one to the OFT. I have at the moment 3 out fo 4 successes yet to be settled to my satisfaction.
My first advice is, read up on the stickies at the top of the forum. Then read as much as you can of similar threads. If you have a valid case for mis-sold PPI then you can reclaim via a complaint to the Financial Ombudsman Service or Court action.
Have a look through some of these links .....
links in here there are a load more links like this...
Quote:
When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions.
For legal issues relating to Data Protection check this link...Lots of very useful info in understandable terms. Data Protection | OUT-LAW.COM
it includes the following and much much more Negotiating with the Data Subject (This should be important to Banks)
At this stage, it is advisable to negotiate with the data subject. The location information the data subject will have already given will give a clue as to what it is the data subject really wants to have information about. The benefit of the Data Protection Act 1998 is that it allows data controllers to negotiate with data subjects to get the data subject to specify the exact information he or she wishes to receive.
The data controller is entitled to ask for a fee of £10 and two further pieces of information. Firstly, the data controller must satisfy himself that the person making the request is, in fact, the data subject. The use of a Subject access request form is advised, since the greatest breach of a data controller's security is for the data controller to satisfy a Subject access request made by a person impersonating the data subject. The use of the form goes towards proving that the data controller has adequate identification and verification procedures in place. Secondly, the data controller is entitled to ask the data subject for further information to enable the data controller to locate the information which that person seeks.
When the last of these three pieces of information has been obtained, the forty day period starts to run. It is advisable to put procedures in place to ensure that the receipt of the request and the further information is correctly dated so that an organisation knows how long it has to satisfy the subject access request.
However, if the data subject is adamant that he or she wishes to receive a copy of everything the data controller holds on him or her, then there is very little the data controller can do about this, and a completely exhaustive search of the computerised and manually held data in the organisation will be required. (nice to know what you see in the Act is what you get)
It's a bit of a big first reply but hopefully it will get you into the mood to get your cash back;-)
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I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
I would say that is good enough grounds on its own to claim as they have broken the Banking Code of conduct by not supplying all the relevant information.
So there's a starter see what else you can hit them with.
Finally you are in very good hands with Alanalana he has been a great help to me.
afool v barclays loan
. I have been with the bank for 30 years and trusted them. We took out a loan for £58,000 with repayments of £440 per month. He then suggested a saving scheme of £110 a month which after 5 years we would recieve a lump sum of £14000 which included insurance should anything happen to us. This left my wife and i payments of £1000 a month for our mortgage
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