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Everything posted by bustthematrix

  1. Great link Shadow - very useful indeed! I'd like to know what you and the others think in relation to the findings here Compound interest is payable in restitution - http://business.timesonline.co.uk/tol/business/law/reports/article2133988.ece Specifically, how does it impact on the debate relating to reclaiming penalty charges (credit card or otherwise) and claiming for Compound Contractual Interest as well as the usual Statutory?
  2. Btw, if they do lump on their costs, as I've said before the FOS can order them to refund it+pay your costs when you come to look at it later...
  3. Btw Dave, if you turn up tomorrow and there IS no hearing because it has been cancelled in time, make sure you write to Lender and confirm what you understand to be 1) the terms agreed and the due date for payments as last working day of the month 2) no legal costs will be added (they may still try to add their legal costs up to the hearing) 3) that while arrangements are in place, their monthly arrears charge must be waived (this is mandated by the FSA, not just a good idea). Please note, doing these things now, will make your claims for refunds of charges and costs that much easier furt
  4. Well done Dave, great result. Bet you slept a bit better last night? Hundreds, if not thousands is my guess. The banksters regularly get away with this sort of thing on so many levels. The more ignorant the masses the better for them really. Did you manage to get any of those letters, documenting what's happened, sent of to them? This is when those letters become more valuable. But first, guess you gotta go and do your 'performance' in court. Don't be surprised if a temp lawyer shows up for them 2moro who's not been told what was agreed with you on Friday and still has 'instruct
  5. A knowledgeable contact of mine works in financial services and is a government insider. He did some monetary figurework some time ago and suggested the following idea:- Instead of bailing out the banks, the government could actually have used less funds (than was used to prop up these institutions) to write off the country's entire mortgage debt i.e. every single mortgage debt (I think including both residential and commercial) would have been settled. This alone would have bailed out both the banks and the high street simultaneously by providing liquid funding to the banks and resolvin
  6. The FOS is getting more and more inundated with complaints. Before you go to it, it is important that you first complain directly to the Lender concerned.
  7. Hi Dave At least, now you know that once the arrears matter is sorted out in court, you can go back to the FOS to look at the issue of charges, interest and historic wrongdoing. It's seems clear to me that this eviction/hearing would not have been required had the Lender been reasonable with the handling of your account. Please try and document the fact that you've made several attempts to reach a solution with the Lender in order to avoid the hearing in the first place. Document the fact you've paid and brought the accopunt up to date (as per your historic payment arrangement). This must be
  8. As usual Suetonius, your posts are helpful and factual. However, it is interesting to note that the Law Society clearly includes unregulated residential mortgages in the scope of the Pre-Action protocols. It is also a fact that the FOS will look at conduct under the Mortgage Code for pre M-Day mortgage accounts. Whilst the protocols specifically apply before action is commenced, they are still often referenced after action has started. As with ongoing cases, there is the oft-mentioned 'grey area'. If I was in Dave's position, I would still reference all these points wherever possible
  9. Also, Dave The further sections below are from the Pre-Action Protocol which again is useful in highlighting the wrongdoing of the Lender when that time comes. 7 Alternative dispute resolution 7.1 The court takes the view that starting a possession claim is usually a last resort and that such a claim should not normally be started when a settlement is still actively being explored. Discussion between the parties may include options such as: (1) extending the term of the mortgage; (2) changing the type of a mortgage; (3) deferring payment of interest due under
  10. Dave This is taken from a Law Society practice note to advocates and adds some clarity to the Pre-action Protocols for Mortgage Possession claims. Consider the sections in green & bold (my highlights). 2.2 Status of the protocol The protocol does not alter the substantive law, and it does not alter the parties' rights or obligations. It describes the behaviour the court will normally expect of the parties before the start of a mortgage possession claim. The court may take into account whether a party to proceedings has complied with a protocol when it gives directions for
  11. 1. Jasper did you ask them for this in writing? If not you should have. What was your payment history like at the time you asked for the capitalisation? 2. Did they reply to reject your request in writing and give you an explanation? If not, get them to do so. Keep writing and insist on this if you have to. 3. The reason is that while they are not compelled to capitalise arrears (it's on a case by case basis and is influenced by things like arrears amount vs mortgage size and term of loan etc), they are required to be reasonable in considering your request and should give you a reason why
  12. Peterjm Well done for your posts #75 and #78. The references there are immediately useful and in the future when the Lender's treatment of Dave's mortgage account is thoroughly examined. As far as I am aware, even if the mortgage pre-dates 2004, the lender itself remains a regulated firm and must abide by the regulatory codes. The mortgage contract itself may or may not be regulated (Btw Dave, if the Lender offered you any 'special product deal' such as a fixed rate or discount tracker which you accepted anytime from the 11th of November 2004 onwards - it is!) but the Lender is oblig
  13. You shouldn't have but I think we can all understand why you may have done in your situation! Anyway, the right way to have done it is to have written the offer to them, thus recording the fact that you DID and obligating them to respond to your request in writing.
  14. Suetonius, I've not had time to read this case you've cited but does it distinuguish between cases where the debtor remains in arrears whilst servicing the original mortgage + arrears vs what happens after the arrears are done away with? It is my understanding that once the arrears are cleared, the suspended repo order will be vacated. From what Dave has shared thus far, it seems there is every chance he would be arrears free if not for certain significant ongoing charges. Dave, as I've said before, make sure you understand WHY you are doing what you're doing. I never said don't rece
  15. Dave, at the end of the day, it is your call. What I sadi earlier applies. Read these suggestions and ensure you appreciate WHY we've suggested what we've suggested. Only then will you be best empowered to chose a course of action. Either way, you will get supported by your fellow Caggers. I think some of the comments about wasting time writing complaint letters are uncalled for. The advice given has a clearly stated purpose so it's for for Dave & his missus to take on board and make their decision(s). This lender has shown that they are ruthless and unethical and will lie in a breath
  16. It can be done and it should be done, and this time, they should ensure the points of law being contested are wide enough to effectively tackle the issue. Still yet to see any decent explanation as to why the OFT did not take this further when the SC clearly said there were other avenues worth exploring.
  17. Dave, when did the mortgage actually start and when did problems first begin? In one of your posts, you asked how far back you can go for reclaiming charges etc. The answer is, as far as the available statements up to the point of account inception.
  18. If you have not already done so, write back asking why and when did the arrangement 'expire'. Was it time-limited by the judge on the original order? The judge would never do that without your consent. The order is usually valid UNTIL the arrears are cleared. Make sure you WRITE to the lender to query the so-called expiration, affirming you do not understand it and that you have always contiued to faithfully pay mortgage + arrears and have trusted them (their fiduciary duty to you) to ensure your arrears payments were being diligently used to reduce the outstanding arrears amount since co
  19. Make no mistake about it, he WILL get a set aside hearing before the eviction date whether he files the Application now or in two weeks time (no later though). I've also seen much worse scenarios where people were scrambling about for money to raise a lump sum to either avert an eviction or bring the lender to re-negotiate a payment plan in court - and they only just managed it a few days prior to the e-date. Of course I wouldn't dare suggest leaving it that late but there's no need to panic. Especially as his payments are now up to date. The difference will be that if he sends out
  20. Ell-Enn, you have a point but this is extremely important knowledge that Dave can still use when filing with the FOS. Pre-action protocols are a big deal in the finance industry. I get Mortgage Finance Gazette and the repo solicitors who write in it frequently cite these as amongst their worst obstacles. If used well, they are quite powerful. Also, I don't think there's any harm in his adding it to his reasons for requesting the setsaside when the time comes. He only needs to show the possibility that they did not follow the pre-action protocols at that time nor indeed the arrears pr
  21. Dave, I would suggest you keep the Application to one side for now but make sure it's ready to be submitted. You may want to phone/visit the court to ask when is the latest you can submit it in time. When you do submit it (if it gets that far), make sure you highlight the urgency to the clerk you hand it to i.e. reference to the stated eviction date. The reason I'm suggesting waiting is because you want to send off all your letters, file with the FOS and then call Acenden and/or their Sols AFTER they've had a chance to digest your letters and FOS filing. Even the very fact you've now invo
  22. True, but they are still relevant, IF IT can be shown that they WERE NOT followed when they should have been! They clearly haven't and some of them are relevant after action has been taken i.e. now!
  23. Peterjm --- this is fantastic, just what Dave needs, I think Dave, please calmly think through all the advice you are getting, and then take action, step by step, ensuring you understand the importance of each action you take. The steps outlined by Peterjm are great, but PLEASE ensure you send off your letters as suggested above (keeping copies!) to the Lender and maybe to their Solicitors too. If the lender is too daft/greedy to see sense, maybe their Sols will! The letters are part of your key chain of evidence to be used with the FOS and or in court further down the road. As
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