Hi there,

Im not sure if im posting this in the right section, im not really sure what it comes under.

Me and My husband have a lot of debt outstanding with a man who has set up a finance business,

he does cars on a pay weekly rate,

repairs to cars and loans again on pay weekly rates.

in total we pay around £185 a week back.

(i know it was foolish, but when your in desperate need for money and hes willing to loan you money with no credit checks,

and doesnt show on your credit file its a slippy slope)

Now we are struggling to pay this money at times, and some weeks we cant pay full amount, sometimes we cant pay at all,

and obviously he is getting very annoyed at this,

he puts late charges on the accounts etc,

but hes been known to be very violent and verbally abusive.

he tells everyone hes well in with gypsies should he ever need to use them because someones not paying a debt.

Now we have asked him once of we could reduce payments,

which give him his due he did do, but he put alot more intrest on top of it.

Then he offered to help us out with fixing the car which we stupidly accepted as its a taxi

and we were having a few financial problems, whch of course resulted in more money each week.

I know we've been idiots, and im not trying to get out of paying this debt,

but at the minute its a vicious circle, we default, intrest gets added, etc etc.

what can i do, if anything to get him to sort of consolidate the debt and freeze the intrest

so i can get this stupidly huge amount of debt paid off and gone, but at a rate that i can manage?

Any help would be much appreciated,

Many thanks,

Danielle.x

You must report this guy as he is almost certainly an unlicensed money lender. If you are not sure who to go to then try calling the CAB. If he does have a licence then it needs to be looked at

So you are pretty much borrowing from an unlicensed loan shark !

I will try and find someone who can help..

thanks,

on the bottom of his paperwork it says he is registered with the OFT if that helps any? he cant be a loan shark though can he because we had to sign contracts?

Thanks,

Danielle.x

He might be licenced to give credit for cards, but is he licenced to lend money ? On the contract, does it say that it is regulated under the Consumer Credit Act 1974 ?

He can write anything he wants on the foot of the paper, if he is legitimate his consumer credit license number should be obvious on the footer, this sounds very dodgy to me.

Your local CAB or Trading Standards will be happy to check it out and follow it up if need be.

yes, at the top of the contract it says:

Fixed sum loan agreement regulated by the consumer credit act 1974. it also says at the bottom of the contract that hes dca registered what ever that means?

Danielle.x

thanks crocdoc, will try and get an appointment with CAB as soon as possible.

Danielle.x

Does it give any licence numbers. If it does why not pm it to one of the site team such as citizen b who can then check it out.

Do you mean DPA registered?

sorry i meant dcs registered.

It says he's a registered credit broker, but yet on the agreements have here where it says lender it has his name and address, and telelphone number but where it says company registration number, registered in and VAT registration number, they are left blank.

Danielle.x

sar him.

there is also no legal remit to charge ANY PENALTY charges.

dx

Hi

Good advice already but is it at all possible that you could scan that agreement ensuring that you remove any personal details before posting and put on here to give us a better idea.

If not is it possible to write what it states minus and personal details.

Did the individual at all mention the name of the credit broker?

I have to agree send a SAR (Subject Access Request) to them.

If you have a look in CAGs Library (at top left of page) their is a template letter.

How did you find this individual to lend money i.e. friends, family, word of mouth, high street etc?

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc using paint program

but leave all monetary figures and dates.

*********************************************************

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

try www.pdfescape.com TO BLANK STUFF,

*************************************************************

or

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or use www.pdfmerge.com

convert existing PC files to PDF [office has an installable print to PDF option]

..

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

though dont use full bank names or CAG in the title

i'e Default notice dd-mm-yyyy TSB

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

.

dx

If this guy is a loan shark would a sar be either useful or beneficial. I know these people rely on fear and ignorance of the law. Just a thought .

i don't have a scanner at the moment,

but have used my phone to take pictures of the agreements so i will try to upload them in a minute.

No, it says he is a licensed credit broker, but on the contract where it says LENDER: they are his details. but where it says Company registration number, Regestered in, and VAT regitration number they are left blank.

I do remember seeing framed certificates in his office saying he is registered with the OFT,

and one to state that him and his wife are licenced to trade etc.

I've googled the name and address etc and it brought nothing up about them,

bar 2 facebook check in's at the company.

Im not sure what a sar would actually do in this instance,

i have one or 2 of the contracts here, and they are all the same contract,

with spaces left blank for him to fill in depending on the loan amount and repayment period.

I found this person because he initially deals with cars and ours blew up,

we didnt have the money to replace it outright so the brother in law said he knew a bloke that works out of his garage on the side of his house selling cars etc for around £25 a week.

He took us down and we signed up.

( i know that sounds really dodgy and im kicking myself now, b

ut at the time you dont think someone is dodgy when hes had the garage at the side of the house converted into an office and he has employees etc)

Danielle.x

There we go (i think) they have uploaded now. Its taken me ages to try and do that haha.

I also have a couple of A4 sheets of paper that he has printed out and you have to sign. one being about fixed charges, stating that there are charges of £5 per un-paid account per week and £10 per letter. £25 monthly unpaid account and £10. per letter.

Also a £5 charge per arranged visit if a R&J Auto Finance collector calls at your house and no payment is made to them.

Also understand that if i have to change my arranged repayments to a lower payment per week, per fortnight, per month that i will have to pay more intrest on each of my accounts.

the second one says about cars on hire purchase, unsecured cash loans, and the charges for admin and documentation fees.

And the third one says - that all accounts are registered with DCS (debt collection services) and should you not pay then the account will be refered to them, and any fee's will be transferred to your account and added to your bill.

I can not find a registration number anywhere though, not on any of the paper work i have here.

Danielle.x

The images arent very clear, however it does confirm that it is covered by the CCA1974.

stil doesn't make the penalty charges lawful.

get an sar off to him

and get reclaiming.

dx

If i were to ask if it is fleet road would i be correct.

If so they do have a current CCL

I do not want to put the CCL number up but i can not pm anyone. If there is another way can someone let me know

yes, its on fleet lane.

I'll Send a SAR and take it from there.

Thanks,

Danielle.x

Found all the details and passed them on for you.

thanks, passed them onto who though? (sorry if i sound daft, im not clued up on all this yet)

Danielle.x

Passed on to me

Danielle in response to your private message, I would suggest you contact your Local Trading Standards Office and see what they have to say about things.

ahh

Although if im completely honest, im not sure what i need to contact them about? im awfully confused.

Thanks,

Danielle.x