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Everything posted by Matt5791

  1. Update: I just found the original statements received at the end of the first 12 months!!! I went through a load of papers which the insurers had "restored" after the flood in my office. I cant believe I found them. It details the premiums loaded onto the front of the loan - £1002 on the loan for £5000 and £1504.85 for the other loan, which was infact for £8000. Do I just write to Lloyds now asking for a refund and interest? Many thanks, Matt.
  2. I took two loans with Lloyds in 1998 / 1999, one for 7000 and one for 5000. I only discovered there was an insurance premium of (if I remember rightly) £1500 and £1000 respectively, front loaded onto the loans when the annual statements arrived 12 months later and I was astonished to see I had actually borrowed more than I expected. The manager knew me and the branch also handled my business banking. They knew I was effectively self employed. The manager completed the form. Ultimately I had some finiancial difficulties and the two loans were sold to third parties a few years later - I resolved the debts with them a few years ago now. PPI was not discussed with them at the time. Questions: - Can I ask Lloyds to refund the insurance premiums and any interest as they mis-sold it? - If so, I lost the paper work in a flood at my office in 2006 - how do I go about getting them to acknowledge the loan and insurance was taken out? Any assistance gratefully received. Thanks, Matt.
  3. Being passed to collections is a good thing - you can do a deal with them which you can't do with the branch or relationship manager. Forget about writing to the chief executive or MP's, it's a total waste of time. You need to construct a robust offer at no more than 40% the value of the debt and negotiate from there. Or, if you have no lump sum then you need to ask for a reduction of the debt and ask to pay in manageable installments. You have to start low. You can never get a deal from a relationship manager (or at least not to my knowledge).
  4. Basically, if a claim has been issued the clock is ticking - you are fire fighting now. All the legal stuff can come later, but you need to stop the clock ticking and ytou do this by: 1. Acknowledgment of service within 14 days of the date of service (which is 5 days after the issue date shown on the form). 2. Then, within 28 days of the date of service you need to issue a defence. What the defence is, is something people with more time than me can help you with on this forum, but you must file it before the 28 day mark. Once the defence is filed then the routine administrative court stuff goes on, including whether you woudl like to go for mediation. Opt for this, but make sure you go into a mediation with all your facts straight - again, people will help you here. What you need to do is get an affordable payment package from them or the debt written off if you can make a case for this. If you leave the claim form they will get an automatic judgement - a judgement by default. And you do not want that - you could get it set aside, but then that is another battle to fight. Try to reduce the battles.
  5. Many thanks for the info. Out of interest, did you write the statement yourself of did you use their own form? How transparent were you - did you make sure you looked as poor as possible? Many thanks.
  6. Many thanks for this info it's very helpful. Did they request a statement of means or other information? Many thanks.
  7. The debt is / was companies - it was a £25K overdraft - backed by a directors personal guarantee - it's a business arrangement. So if the business can not meet it's obligations the bank can call on the directors for the cash, which is what they are doing - it's fairly common place for short settlements to be offered in order to clear up the matter. Banks will regularly write off business debt. I was just wondering if anyone else had dealt with this department of Lloyds?
  8. I have a fair amount of experience with this sort of thing, but I was wondering if anyone else here has dealt with the Lloyds Wholesale Banking recoveries in Bristol? They seem very pleasant and take a soft approach, but that often worries me! They suggested they would accept short settlements and installments (at a very reasonable interest rate) right at the outset. I am disputing a personal guarantee given for a £25K overdraft to a company I was a director of. I have made a cash offer of £10K. They have requested a "statement of means" before they will consider any short settlement So I was wondering if there is anyone else here who had dealt with them - how have you got on? I really want to try and understand more about how flexible they really are before I take the next step.
  9. I have a fair amount of experience with this sort of thing, but I was wondering if anyone else here has dealt with the Lloyds Wholesale Banking recoveries in Bristol? They seem very pleasant and take a soft approach, but that often worries me! They suggested they would accept short settlements and installments (at a very reasonable interest rate) right at the outset. I am disputing a personal guarantee given for a £25K overdraft and I have made a cash offer of £10K. They have requested a "statement of means" before they will consider any short settlement So I was wondering if there is anyone else here who had dealt with them - how have you got on? I really want to try and understand more about how flexible they really are before I take the next step.
  10. Embarrassing - shows how long ago my law degree was. Which why I always advocate professional advise if feasable. I suspect however the Fraud Act provides for a similar offence. Is there anyone who is aware of any case law, concerning either the 06 or 68 Acts?
  11. See my thread on the possible criminal implications for a DCA trying to collect time barred debt.
  12. Possibility of DCA's Committing an offence when attempting to collect a time barred debt. Recently a DCA (McKenzie Hall) have been trying to collect a time barred debt from a relative. I am not concerned about this and the matter will be resolved sooner or later. The main thrust of this thread is to examine the possibility of whether an offence can be committed by a DCA (or the debt owner) when they try to collect a time barred debt. The recent situation has got me thinking about this and by background in law (I have an honours degree in Law) leads me to believe there is a possibility that, in certain circumstances, this could be the case. I believe that it could be possible to construe the attempted collection or actual collection, of a time barred debt as an offence under S.15 of the Theft Act 1968. This reads: 15. Obtaining property by deception (1) A person who by any deception dishonestly obtains property belonging to another, with the intention of permanently depriving the other of it, shall on conviction on indictment be liable to imprisonment for a term not exceeding ten years. (2) For purposes of this section a person is to be treated as obtaining property if he obtains ownership, possession or control of it, and ‘obtain’ includes obtaining for another or enabling another to obtain or to retain. (3) Section 6 above shall apply for purposes of this section, with the necessary adaptation of the reference to appropriating, as it applies for purposes of section 1. (4) For purposes of this section ‘deception’ means any deception (whether deliberate or reckless) by words or conduct as to fact or as to law, including a deception as to the present intentions of the person using the deception or any other person. Money can count as property. Thus I believe this could be the case where: 1. The DCA has, dishonestly, persuaded the "debtor" there really is a debt outstanding (or has attempted to do so). 2. The DCA either knows or is reckless to the fact that the debt could be time barred. I don't know if anyone else has ever considered this or, indeed, if there is any case law on this. I have a number of friends from my university days who are now practicing criminal Barristers and Solicitors and I'm going to check this out and will report back when I know more. Matt
  13. Thanks for the responses - can anyone point me in the direction of the relevent section of the Act, regulation or court decision which stipulates they must keep the paperwork?? (the default was issued in 2004) Thanks. ....yes I did get a good deal on the settlement. Matt
  14. Well, I think you could well be past the cut off, or at least very close to it, Scottish or English. The critical thing is not ot acknowledge the debt in anyway - contacting the company who set up the arrangement may not be the best course of action as this could be seen as acknowledging the debt. Try and find out through your own records. Matt
  15. Has anyone else had a call from lowell where they ask you to confirm your name, address and DOB and then just cut off the line? Matt
  16. I have been pestering Egg for a copy of a default notice - they have told me that they do not keep copies and so are not liable to give me one, but assure me it was issued. Can anyone tell me the true score on this - firstly does anyone know if there is an obligation under the Consumer C.A to produce a copy? Note: the debt is settled. Thanks Matt
  17. I have no understanding of Scottish Law, but in England and Wales there would need to be a period of 6 years from the last payment / acknowledgement of the debt for it to be statute barred. If this is not the case I would suggest trying to do a deal with them and persuade them to write some off - to do this I woudl start with asking them to write the whole lot off - sounds cheeky, but coupled with information about what a dredful situation you are in could help here. Besides if they haven't seen a payment for years. Of course such an 'offer' would be an acknowledgement of the debt so if there are only a few months to wait I would advise writing to them to fend them off and waste time with letters of the "I dont acknowledge or have any knowledge of this debt" variety, periodically. Maybe the time will then pass and you would then be in a stronger position. If, after this point, they took you to court, you could defend on that basis, if you were sure it was time barred - remember if they took action it would be for them to proove it was not time barred, not you to proove it is (he who asserts must prove - the burden is on the claimant) - you could of course adduce evidence to show that it was barred though. Matt.
  18. You can always find someone to offer a mortgage, at a price, regardless of CCJ. How much to offer Lowell. I have some insider knowledge on this one and you can calculate it, to a degree. 1. How long since they bought the debt: Lowell look for a return of 20% pa on investment in your debt. 2. What was the original debt amount? 3. How badly in arreas was it and were you making any payment at all at the time they bought it (even £1 per month)? Broadly speaking Lowell will pay between 10 - 50p in the £ for debts. A debt that is very old, with no payment having been made or acknowledged by the borrower for ages, it will be at the lower end. With a regular payment being made at the time of purchase, the upper end. EG. Debt £10000; lowell estimate to have paid, say 0.35p, 1 year ago. offer should be £3500 + 20% = £4200 - offer £4500 for luck. you need to also add in a bit for costs going to court. Hope this helps.
  19. Well I sort of wanted to advance a little further in the case - currently we have filed the defence and are waiting to see if Capquest respond. I'll see if anything happens in the next couple of weeks. Matt
  20. I haven't had time to go through this whole thread I'm afraid, but I just wanted to say that I am currently engaged in a court action with Halifax / Capquest with regard to this issue. Facts Following repeated requests for the agreement from Halifax (which they did not satisfy) and involvement of the OFT (dealt with by David Philpott - google his name and OFT), which Halifax also ignored, the debt was sold to Capquest Investments by Halifax. The request was repeated to Capquest, however they decided to issue Court proceedings against me on 12 November 07 via the Northampton county court bulk centre, and their solicitors HL Legal. Following this I instructed my solicitors (again - they had previously been dealing with it and had got the OFT involved). My solicitor is 100% specialist consumer credit solicitor. Following this we instructed a Barrister from THE leading, and only, chambers in England & Wales who specialise in consumer Credit - what they don't know basically isn't worth knowing. Course of Action We instruced the barrister to: 1. Write an opinion of the whole S78/77 requests for agreements etc. 2. Write my defence, and if necessary, defend me in court. We have now filed the defence and await to see if they respond, otherwise it just goes to court. Having received the opinion, it is extremely interesting and very thorough - as a Law graduate myself I find it all the more interesting. However, as I suspected, there is a lot of myth and misunderstanding about this whole request for agreements (much of it on this website). When I feel it is appropiate I will post the whole Barrister's opinion on this site (it runs to several pages) as I think it is quite definitive and could be very helpful for those who are unable to afford the services of such people. I am lucky that I am able to afford it (just) as it has cost me a fortune, but in the end I think it will be worth it, especially as I intend to ask the court to award costs against Capquest. I know that this is a "self-help" site, but Consumer credit law is extremely complicated with little or no interpretory case law, and sometimes you just have to get some professional advise. In case anyone is interested the amount in dispute is about £10,000.
  21. I woudl strongly advise you write to them to tell them to only deal with you in writing, and then also change you phone number. You must never speak to them on the phone - it's the first rule in debt management! I would also suggest you go through the individual debts, assess whether they are or are not enforceable (use this forum to get help in how to do this) and then negitoate the ones which are likely to be enforceable and dispute the ones that are unenforceable. Don't ignore them. Just remember, with the ones you negotiate, these companies make no money chasing debts - this only costs them - they only make money when they start getting something back by way of a return. Hence why you are in a strong position to negotiate - just don't subscribe to silly requests, and demand that defaults are removed as part of the deal - you can indicaute that if they do not agree then you will argue the debt (even if you know you can't) and they wont want this as this just costs them more money.
  22. I totall agree with everything you say. All I was trying to highlight was that it is possible to work out the sort of level to pitch an offer of settlement to these people, if it is going to be difficult to argue the debt is unenforceable for some reason. I definitely don't feel sorry for them!! I do however recognise that they are in business to make a profit - people need to remember this when dealing with them as it can be very helpful. As far as I am concerned the banks will get anything they can out of the individuals they deal with, and will sail as close to the wind as possible - that is why I have absolutely no compunction over screwing them back by exploiting any loopholes or non compliance with legislation. As you say, gone are the days of the traditional bank manager who had an authority and who made decisions.
  23. Yes - very helpful, many thanks. Matt
  24. I went to the High Court just over a year ago and sucessfully obtained an injunction against a petition when a statutory demand was levied against my company. One thing I would say is, a SD can not be used purely as a debt collection weapon - it is only for an undisputed amount - maybe to enforce a court judgement. However getting an injunction may require detailed legal arguement in front of a Judge, and you need not only a good solicitor but definitely a good Barrister make this case. The good thing is that you only have to show there is an arguable case the debt could be disputed. We also had costs awarded against the other side - the whole escapade cost them about £20K
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