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    • How does one obtain the permit? The permit team number is only open between the hours of 9am to 3pm. It says on the website, To obtain an additional 2 hours, the driver must pay a tariff of £3.00 + booking fees in person at our Security Hut, is that how you get the permit also, from the security hut? What a rigmaroll that would be but maybe just another step to take to try and catch people out?  
    • Anotheruser0000 bear in mind that not all Judges are equally versed in the PoFA regulations. Fortunately now most of them are but sometimes a Judge from a higher Court sits in who is well experienced  in Law but not PoFA. and so they sometimes go "offkey" because their knowledge can raise a different set of arguments and solutions. It does seem particularly unfair  when the decision is so  bad . it can also be that in some situations the motorist being a lay person is not sufficiently know ledgeable to be able to counter a Judge's decisions in a way that a barrister could.
    • The argument about the date of receipt is now dead because the PCN  does not comply with the wording  of the Protection of Freedoms Act 2012 Schedule 4.  First reason Section 9 [2] [e]  "state that the creditor does not know both the name of the driver and a current address for service for the driver and invite the keeper—(i)to pay the unpaid parking charges;" Second Reason Section 9 [2][a] "specify the vehicle, the relevant land on which it was parked and the period of parking to which the notice relates;" All your PCN does is mark the time you entered and left the car park. It does not include all the myriad things you do in between-driving into the car park, looking for a parking space-perhaps a disabled space or  parent and Child place@ getting the children or disabled person out of the car then going shopping. Coming back; loading the car with shopping [, getting the children or disabled into the car, taking the trolley back to the store; driving to the exit perhaps stopping to let vehicles/pedestrians cross in front of you etc. so subtracting the driving times from before and after parking can make quite a difference from their time to the actual period parking time. So the upshot is now that only the driver is responsible for paying the PCN and the keeper is not liable at all even if the name of the driver is never known by Nexus so well done for not appealing. You obviously want to keep it that way to make it very difficult for them to win in Court if it ever goes that far. Although your question is now moot since  the same objective has been achieved by the non compliant PCN [ie no keeper liability] just  about the only way to dispute the timing of the PCN would be if one kept the envelope and there was a discernible date stamp on it that did not match the date on the PCN. There is a new Act coming out [and it cannot come quickly enough ] and one of the things required is that parking companies will have to prove the date of sending out their PCNs. We are not the only ones who sometimes doubt the veracity of their dates particularly as the later it is sent [unlawfully] the shorter the period motorists have to benefit [?] from the reduced payment. I haven't seen it on your posts but do you know how long you are permitted to park for free?
    • I was so annoyed and frustrated about the fact this case was lost it's been floating around my head all night. Dave962, are you sure that's what the Judge said? .... It doesn't make sense. Did the judge in fact dismiss the case on the grounds that the defendant did not make an appeal within 28 days? Effectively telling the PPC about the error entering the registration number and providing proof of payment at that time? To me, that's an important point.  
    • The United Autoworkers Union took a risk in a Republican - and often anti-union - part of the US.View the full article
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      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

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Consumer Credit (rebates on early settlement) regulations


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Hi,

Took out a loan in Aug 2005.

Have asked for early settlement figure.

They've quoted Consumer Credit(Rebate on early settlement) regulations 1983..

 

Does this loan fall under the 1983 regs? I think I read somewhere that loans prior to may 2005 were covered by 1983 regs.

 

When do 2004 regs come into effect?

 

What are the differences in the working out of settlement figures?

 

1983 v 2004 regs which is better financialy for the consumer.

 

hope that all makes sense .....:?

 

Sharpman

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The 2004 regs came into effect for credit agreements written after 31/5/2005.

 

The differences in calculations are based on a requirement to move from the old and complicated Rule of 78 method to a new and even more complicated actuarial method.

 

The bottom line is though that it is generally better for the customer, although I don't think there is that much in it.

 

Search google for OFT801 for more information.

 

HTH

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The 2004 regs came into effect for credit agreements written after 31/5/2005.

 

The differences in calculations are based on a requirement to move from the old and complicated Rule of 78 method to a new and even more complicated actuarial method.

 

The bottom line is though that it is generally better for the customer, although I don't think there is that much in it.

 

Search google for OFT801 for more information.

 

HTH

 

thanks for info.

BTW the loan was for a figure of 33612.30 (including PPI):sad:

 

So, as this loan was taken out Aug 2005 it's covered by the 2004 regs.

Do the company then have to use the 2004 regs to work out the settlement figure?

 

another question.

On my CCA in the Bit about early settlement it states that the figure would be worked out using formula set out in the CCA 1974. quote 'Not withstanding the fact that this agreement is not regulated by the act' unquote. What does this mean.

 

Also i'm looking at the loan pack again.

 

In the pack it states that the Settlement figure is calculated according to the 'Consumer credit(Early Rettlement) Regulations 2004.

 

On the Loan greement it quotes Consumer Credit Act 1974 for figure calculations.

 

On a recent Settlement Figure quote:

The Rebate allowed has been calculated in accordance with the 'Consumer credit(Rebate on Early Settlement) regulations 1983.

 

Ok, Now which one is legal? or are they all allowed to be used when the occasion suits them.:rolleyes:

 

Sharpman

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On loans taken out from 31/5/05 they must use the 2004 regulations to work out the settlement figure. A copy of the regs is here The Consumer Credit (Early Settlement) Regulations 2004 No. 1483

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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The rule of 78 was abolished because it front loaded the interest and so if you made an early settlement you often found that you had a large amount of capital still to pay.

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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On loans taken out from 31/5/05 they must use the 2004 regulations to work out the settlement figure. A copy of the regs is here The Consumer Credit (Early Settlement) Regulations 2004 No. 1483

 

Hi,

Ok, Does the 2004 regs regulate loans over £25000. I think CCA 74 only regulates loans for less than £25000 from what I can make out.

 

If so, are there any strongly worded letters on here to enlighten Firstplus of the error of their ways.

 

Sharpman

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Yes it would only regulate loans under £25000 unless it was consolidating credit that was already regulated by the Act.

HAVE YOU BEEN TREATED UNFAIRLY BY CREDITORS OR DCA's?

 

BEWARE OF CLAIMS MANAGEMENT COMPANIES OFFERING TO WRITE OFF YOUR DEBTS.

 

 

Please note opinions given by rory32 are offered informally as a lay-person in good faith based on personal experience. For legal advice, you must always consult a registered and insured lawyer.

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  • 1 month later...
The rule of 78 was abolished because it front loaded the interest and so if you made an early settlement you often found that you had a large amount of capital still to pay.

 

so a doorstep lender could lend £100, load the interest making it £150 for arguments sake and start taking payment weekly, graduallly reducing down from £150? I am assuming this is what front loading means, if so, why are Provident doing this if it is was abolished?

 

how do they work out early settlement since their int rate is about double!!

'rise like lions after slumber, in unvanquishable number, shake your chains to the earth like dew, which in sleep had fall'n on you, ye are many, they are few.' Percy Byshse Shelly 1819

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well, could that calculation be any more complicated! are there any calculator tools that will do it for you?

'rise like lions after slumber, in unvanquishable number, shake your chains to the earth like dew, which in sleep had fall'n on you, ye are many, they are few.' Percy Byshse Shelly 1819

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well, could that calculation be any more complicated! are there any calculator tools that will do it for you?

 

Info thread here

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/128765-settlement-figures-calculator.html

 

it's a calculator that is on the OFT website. It works out all sorts.

 

Sharpman

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