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Everything posted by Gram1

  1. Hi. No, haven't been via FOS yet. My requests for wiping arrears has all been verbal so far. i suppose i would need to put it in writing and get their rejection in writing before going down the FOS route. I regularly request a balance figure and also you can view it online on their website when you login now, so i can see that it is coming down as expected. I also check this with them every time i speak to them, for piece of mind, and they confirm too.
  2. Hi Sorry in advance this is so long winded..... I have a secured loan with Idem. (originally with Picture Loans, but when they went bust it was bought by Idem several years ago) I have permanent 0% interest on the loan, as agreed originally with Picture when i got into financial hardship with them, and after some initial difficulties with Idem (when they tried to add interest back onto the balance when they took it on), this frozen 0% interest is now carried forward also by Idem. They acknowledge it and the balance now reflects it. My balance owed to Idem is approx £40k and everything i pay each month comes directly off that balance due to the zero interest. So i do have hope, and can see light at the end of the long tunnel in terms of eventually paying this off. I have been making reduced payments for several years due to financial circumstances. The original contractual monthly payment from the Picture days was over £650. When Idem took over the loan i was paying them as little as £120 pm. After 2 years now of regular monthly payments (all agreed with Idem every 3 or 6 months), i am now up to an agreed payment of £500 pm, having gradually been able to increase this over the years. Great progress i believe. Especially as all the payments are coming directly off the balance owed. My main issue surrounds the arrears balance. Because my payments are still under the original £650 contractual payment, my arrears balance has been growing and growing throughout the years of my reduced payments. The arrears balance is now approx £20k. However my query here, is that the interest is permanently frozen, and the contractual payment of £650 was based on the original interest rate of approx 14%. So the original contractual monthly amount now bares no correlation to the monthly amount required to settle the remaining balance on time. eg - I have 8 years term left on the loan, which is £40,000 / 84 months = £476 per month required, to settle the loan on time. So i am basically already at the the monthly level required to settle the loan on time. So surely the £650 pm contractual requirement, is no longer relevant, in terms of my requirements here. If i continue paying £500 pm i will settle this loan early. If i pay what they are asking as the CMP (contractual monhtly payment) then i will settle this loan over 1 yr early. And all the while that i continue to pay the £500, my arrears balance increases. It looks terrible on my credit file. I have asked them to wipe the arrears, due to the zero % interest, as they are no longer applicable to the amount owed vs the term remaining. However all they see is a piece of paper with a large amount of arrears on it, and a monthly payment which is less than the CMP on the account. So they will continue to put pressure on me to increase my payments up to £650, and then they will probably ask me to start contributing extra to the arrears. I'm not in a position to do this, or likely to be in the future, however i really don't understand why i should, even if i was. I have asked several times recently about capitalising the arrears, but they refuse point blank, saying they can't as it isnt within their policy, and would basically mean refinancing, which they wont do. So should i just accept that my arrears balance will continually increase, despite my good intentions and work in getting back to where i am now? Even though the loan is likely to be paid off early at the current level. It is very stressful knowing my payments are less than contractual and that i need to renegotiate payment plans every 3 months, each time i do this they mention the level of arrears. I'm worried they take further steps due to this high number. Even though the number really in my opinion, is no longer a relevant aspect of this. My ideal scenario is to be able to have the arrears balance cleared to zero, and agree with them a new monthly payment amount that clears the balance owed in the term remaining. ( i believe this is effectively what capitalisation is??) That would remove the stress of the huge arrears figure, greatly improve my credit file going forward, and give me huge stress relief from knowing the account was under permanent control with no more worry about negotiating new agreements every 3 months or worrying about potential further action on the arrears. Is there anything i can do to make them see sense over this? Or any other options i haven't thought of? Sorry i have rambled on here. Any help, thoughts, or advice is very welcome. Thanks
  3. Thanks for the update. Very interesting to see how others are getting on when dealing with Idem. I am in a situation with Idem just now - a very odd one - and looking for advice, i'll start my own thread.
  4. sorry, i can't remember exactly on all of those points, but i'll try to answer them. Ours wasn't a car loan, just a normal unsecured loan, so that wasn't an issue for us. I explained why we got into difficulties with the payments and fell behind (bereavements, lowered income ) I do remember we received forms that looked similar ie TIme to Pay and Time Order. I cant remember which one we filled in or what the difference is. perhaps someone else on here can help you with that one. Yes, ours was joint. Again i can't remember exactly, i think we filled in both forms (one on behalf of me, one on behalf of my wife) and put half the total amount we were offering on each, whilst making reference to the other form so that it was clear how much in total we were offering towards the debt. I decided to be as honest as i could on the form, and offer as much as i could comfortably afford and thankfully it was accepted. Best of luck with it.
  5. I am in the EXACT same situation. I owe about £450. I have told them i can pay £10 per month for 2 months, then can up it to £30 per month after that. They wont accept any sort of repayment plan without me sending in the same documents as they have asked from you. I am happy to send in my own I&E form, but certainly will not be sending them a 14 page version or my bank statements. no way. Both Uncle Buck and then PlanDeal have taken the same stance and say they will not accept any plan without these documents. I have informed them i will continue to pay them as advised regardless of their acceptance or not. But i worry what they will do next. Plandeal are in house collections for UB, but what will happen next? Will they go to court or send to external collectors? Anyone got any experience of dealing with UB then Plandeal, and what they they do next?
  6. Whatever happend in the original court case here, does anyone know?
  7. Hi Why is MIF on a 2nd charge a no no? i have it from welcome on a 3rd charge. What does this mean and what can be done?
  8. Hi I am £500 overdrawn and all of it is charges. There was an original £36 charge which i got because my account was overdrawn by £30 for a few days the previous month. I couldnt afford the £36 charge that month therefore my account was overdrawn by the £36 charge for a whole month. This then resulted in them adding another £180 in charges for being overdrawn. Obviously i cannot afford this either so the same thing has happened again and the current state of affairs is that i am £500 overdrawn - all of it is made up of the charges. Surely this is unfair that they add charges as a result of the charges. its just a horrible way of them being able to charge and charge and very quickly it becomes un manageable. I barely now have the £36 let alone the £500. Any advice on what i should do? Thanks
  9. Hi Sorry, first update since starting this thread. Idem have been chasing me to complete their income and expenditure form .they are happy to maintain and accept my reduced monthly payment arrangement but insist the form must be completed for them to agree to this. I'm still considering whether to fill it in but i probably will just to get them to stop hassling me. the more interesting issue with my case is that despite me having the interest permanantly frozen by Picture, i asked IDem what my current outstanding balance was and the figure they gave me seemed far too high. I checked this against a figure i received in a letter from Picture previously and queried with Idem why Idems figure was now much higher. they said it was because the frozen interest was added back into the balance when it transferred to them. they said this is normal practise when temp arrangements to freeze interest are in place. i obviously took them to task on this issue as my interest was permanantly frozen not temporarily. Idem say that there is no evidence of this in any of the paperwork they have from Picture. Fortunately i have a letter from Picture confirming the frozen interest to be permanent. I sent this to Idem as evidence and demanded they reinstate the previous balance without the added back in interest. Idem have yet to do this as they will not conduct a full review on the account until the I&E form is received and a payment arrangement agreed. I am refusing to do this until they confirm my position regarding the balance/interest. So things are in a bit of limbo just now. I havent paid them since December and they are chasing regularly. Should i complete the I&E and get an monthly payment figure agreed and then persue the balance/interest issue? Or am i within my rights to withold any further payments until they sort this out? And if so, how do i make them do this? Intersting stuff eh? Any help / advice appreciated Thanks
  10. Hi I've had a Picture secured loan for several years now. It has arrears but we have agreed a permanent reduced monthly payment and permanent frozen interest. Yesterday i received a letter informing me that from 26th September the loan was being sold to Idem Servicing and all administration and collections from then on will be conducted by Idem Servicing, as Picture will no longer own the debt. Has anyone else received something similar? Has anyone ever heard of this Idem Servicing mob / what are they like? Will this affect my arrangement of reduced payment/zero interest? Thanks in advance
  11. Hi tm77 I didn't fill out any forms, i simply phoned the PPI complaints number from the Halifax website and the guy took all my info down and said that was enough for them to investigate the complaint. At the same time he also informed me about a Bank of Scotland loan from years ago that i had forgotten i ever had, and asked if i wanted to complain about that too. Which i did, and i received the same offer for that too. Result. With regards to what i said, for the TMPP i said that we were told we had to have it to get the mortgage, we were told we couldn't get it from anyone else it had to be them, we weren't asked if we already had any other such PPI therefore wouldn't actually need it. All of which was true. That was all. With regards to the BOS personal loan i simply said if there was PPI on it then i wasn't even told at the time that it existed. I didn't know anything about it or was asked if i needed it. That was all. I had this conversation in the middle of May, so they pretty much took the full 16 weeks allowed before they replied. I sent back the acceptance forms a week ago and phoned to check they had been received.They have, however they could not give me a timescale for settling due to the huge number of cases they are dealing with, so who knows how long it will be. Cheers
  12. I already have claimed, and bizarely i received a reply yesterday! They are paying back all premiums paid plus 8%. Result.
  13. anyone had any joy yet in claiming back on this?
  14. Are these 2 cmpanies the same? Their processes seem very similar Can you get a loan from both at the same time?
  15. well well well. Less than a week after reviving my post i receive phonecalls from Welcome today for teh first time in months and months! What a coincidence Anyway, my account is now with their Recoveries division and the person who spoke to me was basically a collections agent looking to take debit card details from me and agree a monthly repayment, but with a bit more scope for negotiation. Basically we went through income/expenditure and they agreed my proposed new monthly payment (less than half my contractual payment) after a bit of haggling. They confirmed interest has been frozen since March and will be till the end of the loan. RESULT. Now the downside. They would only put this arrangement in place if i made my first payment by debit card and then monthly DD's after that. I refused point blank and said i would pay it by standing order every month. They refused point blank. Stand off ensued and basically no further forward. They wont put arrangement in place without this, there arguement being that i have broken so many payment arrangements in the past (true) that they need to be in control of the first few paymnets to know that i wont renege on the plan. Fair enough i said, but no. So basically i said i would transfer the money to them each month anyway, then phone her back in a few months whne she could see the regular payments had been going onto the account and at that point i would want them to formalise the arrangement and confirm it in writing. If i dont get it in writing at that point i wont make any furhter payments. so thats my plan. They said that as there is no arrangement in place the account cant be held by them so will be passed on possibly for legal action. Only way she can stop that is arrangement in place. So hopefully the 1st payment will hit them before they move the account on as she was quite clear in saying that recoveries have the power to agree reduced arrangements, interest freezing and also refund of charges. Off her own back she said she was investigating all the charges that have gone onto the account over the last few years and getting them all reveresed. So all in all i took it to be a very positive outcome as i reckon once i make maybe the next 2 payments then they will be prepared to put arrangement in place meaning the worry of having this debt and arrears hanging over me and not being dealt with will be gone. It'll be an amount i can afford, the charges will be gone, thereby reducing the balance owed and best of all the future interest will be frozen. The interest is the biggy for me as it means my debt wont increase, and all payments i make to them will come directly off the balance. One of the main reasons i stopped paying was that the little that i could afford was being dwarfed by the monthly interest being added, meaning my debt was just increasing each month despite making token payments. This way there is now light at the end of the tunnel. Obviously the most important thing is to get all this in writing, but i'll give it 2 months of payments and then pursue the formal arrangement with confirmation of it all (including details of the charges reversed) in writing. If i dont get this, back to where we were with no harm done, but i'm willing to give it a go to try to get this. Gram1
  16. Hi We took out a mortgage through a broker in 2001. the mortgage was with RBS, but i'm almost certain the ppi for the mortgage was done seperately by the broker and we paid it monthly separate from the mortgage and not to rbs. The broker no longer exists and we paid off the mortgage and moved house in 2005. How on earth can we trace who we took out the ppi with as we have no paperwork at all and dont have a clue what the company was. Any ideas??
  17. Correct. The sum has been accepted by black horse. Yes, a time order decree will be issued setting out the terms of the repayments. Yes, black horse can pursue further if 2 payments are missed. No, negotiation and dropping of the case was not an option. Gram1
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