Could someone help with the legal side of this please.

There are a series of loan agreements with welcome finance from 2001 , rewritten several times last one was in 2008 and then eventually sold to Alpha in 2016 as soon as i raised a dispute with welcome.

Loan was reduced to 0% interest in Dec 2015. Does this mean there are good grounds to argue that the remaining balance should be paid over the remaining agreed term. The creditor is claiming that payment should be in line with the agreement, albeit over a shorter term - position is that the repayment sums take account of interest, spread over the agreed repayment term.

I’ve had a successful PPI refund from FSCS. But still want to address a substantial number of penalty charges on numerous accounts.

Could I pursue Alpha through the courts for refund of the charges levied against the 18 grand of the balance being unlawful penalty charges and interest. Numerous agreements have culminated in the most recent agreement that was assigned to them.

They already have security on the loan by way of a legal charge that was set up for the 2006 agreement. Tried for repo and failed as Ppi refund meant I was not in arrears but in front with payments

The accounts dating back as far as 2001 were in serious dispute with WF before and after they sold the debt to Alpha.

Thread moved to the appropriate forum.

Regards

Andy

Ok thanks.

I posted in the legal as I thought it was more of a legal issue .

Cruz... what you don't mention is that the charges were applied while the loan account was owned by Welcome Finance, but they now have (I assume) immunity from being claimed against due to an order of the High Court. The bizarre thing, is that the deadline to claim against them was 2011, yet some of your charges were applied after this.

The question is - what are the prospects of success, should the assignee (current owner) of a regulated consumer credit debt, be taken to court by the debtor to seek redress for unlawful penalty charges that were applied to the debt by the assignor (previous owner)? The charges, in this case, making up a considerable portion of the debt balance.

I also wouldn't bother mentioning the repossession claim, as it's not relevant any more and is just a distraction. It only made a determination on one single point - that being the sum of arrears being claimed by the Claimant. It decided nothing else in respect of the loan balance. Also, the starting point is really 2006, as that particular loan wasn't a rewrite. Any charges incurred prior to that are pretty much a lost cause in my view.

As for the ones after 2011.

There’s not that many from that date..

So starting from 2006 there are 3 rewrites the last one was in 2008.

This account is still live but any balance is an accumulation from charges applied to the 3 loans before

Can anyone help further with this please?

As I’m unsure what my next steps should be and if there’s anything I should be doing rather than sitting round twiddling my thumbs