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  1. Just looked at the above post, for some reason on the quote above I have put £78 as the monthly payment over 85 months, now I have seen the original agreement, I now know that the monthly payment was £113.97 over 60 months.
  2. Have now got sight of the original agreement, how would the contractual interest be worked out, in other words the total amount I need to pay under the original contract. Not that I am going to pay it without a fight, but would like somebody with good maths to have a look at the figures. On the agreement £5000 loan x 60 payments (MONTHLY PAYMENT £113.97) Rate of interest per month 1.090% APR 13.9%
  3. No record of the POC on my side, I am sure Link have got a copy, any views on why there judgment have different notes on the bottom than mine
  4. Spoke to the court, unfortunately they destroy paperwork after two years so I cannot get a copy of the POC. Regarding Link they have come back to me with the CCA request, and have sent me a copy with the T&C'S, in it there is a paragraph that says that: The interest will be payable before any court judgment and after any judgment as well. This obligation is an independent one and will not merge with, that is become part of any such judgment. (they have highlighted this). They have also sent me a copy of there Judgement, where in the notes to the defendant it states: If judgment is for £5000 or more or is in respect of a debt that attracts contractual or statutory interest for late payment, the claimant may be entitled to further interest. ( they highlighted : the parts - (If judgment) and ( in respect of a debt that attracts contractual) Looking at my judgement this paragraph is not there, all it says on mine is the paragraph where it says about: Interest ( contractual or statutory can only be applied if the debt is over £5000). The one thing that annoys me when they send me a statement, it is all lumped together, merged, and then they highlight the part about ,will not merge with the judgment. If I just settled what I owe on the judgment, what are the chances of them taking me to court again to recover the interest, remembering that what they are asking for is way above what I would have paid under the original agreement, if all payment were paid in full and on time.
  5. Just one question for people's interpretation Been looking at CPR rules in particular, contents of the POC, PART 16 27. CPR rule 16.4(1)(b) and (2) require the claimant to state in the particulars of claim (or counterclaim) that he is seeking interest and to state whether he is claiming it under • a contract • an enactment and if so which or • some other basis and if so which If the claim is for a specified amount of money, the claimant must state: • the percentage rate at which interest is claimed • the date from which it is claimed • the date to which it is calculated, not later than the date of issue of the claim form • total amount of interest claimed to the date of calculation Would the word at the start CONTRACT bear relation to contractual Interest, so should be in the POC. Or this just relate to Statutory Interest
  6. Just got to wait now for the CCA request from Link, and a copy of the POC from the courts. Lets see what Link come back with.
  7. They should be able to buy a couple of gold nails, for the flooring, with the extra money there trying to fleece out of me.
  8. So my original agreement was £78 over 85 months total- £6630. My judgement was £3,019.60 ( plus £85 costs) total-£3,104.60. which by reckoning (not that good with figures) is that I must have paid off £3610.40 So the full agreement required me to pay £6630 , I have paid round about £3610.40 plus payments under the judgement of £1,162.23 total-£4772.63. So £6630 (ORIGINAL TOTAL UNDER THE AGREEMENT) minus £4772.63 = £1857.37 plus £85 costs total £1942.37 My Balance left under the jugement (my figures) is £1983 So both figures are about the same (give or take a few pound) Link say my balance at the moment is £3175.00. So Link are using a clause in the contract for profit when according to the transcipt in Bengatway,s post explains that First National (Ge Capital) only put in their contracts to ensure that got the full amount if the contract had run it's full course. Is this not abuse of the consumer by Link, when the consumer has fell into financial problems. If I have got this completely wrong please someone let me know, also sorry about all the figures.
  9. I have sent a CCA request to link, and will await a reply, I hope that they inform me that because it is subject to a judgement they do not have to comply. Because according to:- Guidance on sections 77/78/79 of the Consumer Credit Act 1974 – the duty to give information to debtors and the consequences of non-compliance on the enforceability of the agreement 4 WHEN THE DUTY DOES NOT APPLY 4.1 Sections 77 to 79 set out a limited number of situations where the duty to supply copies and statements does not apply. • It does not apply to an agreement under which no sum is, or will or may become payable by the debtor or hirer. It will therefore not apply where the agreement has been paid off and terminated. It will also not apply where judgment has been obtained, unless there is an interest-after-judgment clause in the agreement which the creditor or owner has not expressly waived. Where, however, the agreement has merely been terminated, but monies are or will or may be payable under it by the debtor or hirer, the OFT considers that the duty will still apply Any comments
  10. Have seen Cerberus Alerts post, all I can see is that it relates to six monthly intervals under the CCA 1974 c34, which I have commented on (applies to Post Oct 2008 Judgement's) mine is pre OCT 2008. I am grateful for peoples opinions, no doubt from years of using this forum, but if everybody is sure that a CCJ superceedes an original Credit Agreements and T&C's, surely this must be written down in law somewhere, or has been used in previous case law.
  11. Correct my understanding is, six monthly notices apply to Judgements post Oct 2008, not pre Oct 2008. Contractual interest on CCJs issued before 1 October 2008 If you have a county court judgment that was made before 1 October 2008 then the rules on how your creditor may add interest to the debt are not very clear. Some credit agreements allow a creditor to add additional (or contractual) interest on to the county court judgment. However, to allow this there must be a term in your credit agreement that states that the creditor is allowed to add interest after the judgment is made. There was a court of appeal case called Director General of Fair Trading against First National Bank in 2001 confirming this. This decision said that in some cases while you are paying the county court judgment, contractual interest may be charged on the amount that you still owe on the judgment. If interest is still being added, it may mean that when you have paid the original balance owed on the judgment, you will find that you have an extra amount that the creditor says you owe, even though the judgment has been paid in full. To force you to pay this, the creditor would have to take you to court again. Contractual interest on CCJs issued after 1 October 2008 If you have a county court judgment made on or after 1 October 2008, there are new rules for creditors to follow if they want to add contractual interest to the judgment. In order for the creditor to be allowed to charge additional interest, there must be a term in your credit agreement that states that the creditor is allowed to add interest after judgment is made. Before your creditor can take you to county court, they must send you a default notice. If there is a term in the credit agreement to allow them to add interest after judgment then the creditor must include a special statement in the default notice to tell you this. This says: ‘You should be aware that if we take you to court and get a judgment against you requiring you to pay us the money you owe us under the agreement, you may have to pay us both the amount of the judgment and the interest under the agreement on all the sums owed by you at the date of the judgment until you have paid these in full. This means that even if you pay off the whole amount of the judgment, you may still have a further sum to pay’. Once the CCJ is in place, your creditor must send you a notice to say they intend to charge interest on the judgment. They are not allowed to add interest until they have sent the first notice to you. The notice must tell you the outstanding balance on which interest will be charged. It must also tell you what the rate of interest is and what date the interest will run from. It must also tell you that you can ask the court to change the interest rate and the instalments you pay. The creditor has to send you a new notice every six months if they want to keep charging interest. The notice must tell you how much interest has been added and the interest rate. If the creditor does not send you a notice within six months, they are not allowed to charge interest until a new notice is sent. They are not allowed to add interest back in for the time they have missed.
  12. Thanks ben for your input on my thread, ref your last post, can someone explain in laymans terms what this article is saying. Thanks again for everyone's help
  13. So I am getting a little confused, Am I right that the court of appeal sided with the office of fair trading and this was then overturned in the House of Lords.
  14. I found this while trawling through the internet. It is a house of Lords publication (Court of appeal) by Lord Bingham of Cornhill, ref the Director General (Office of fair trading) v National Bank case. Can somebody look at it and see if there is any relevance to my post, the one thing that interests me is paragraph 16. I don't know if this the original case or an appeal Thanks
  15. That exactly what I am after, as I am 100% certain that when Link write back to me , they will say they are entitled to contractual interest and quote the case Director General (Office of fair trading) v National Bank. I would like to be able to fire something back at them ,preferably something written down in law ref Judgement superceding the original agreement and the T&C's at that time.
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