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rennuz last won the day on November 2 2012

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  1. So if thats the case then is it better to go into default hide away for a few years then offer some money to clear it later down the line, or perhaps just take the hit and move on.... Thats why I dont love the debt management scheme, bad credit anyway and paying them all off. I must add at this point though, not paying debts is not a good thing but if its too much to handle then a happy medium should be found, i.e. full and final settlement, at least both lender and borrower have agreed.
  2. I asked for my own to be full and final and settled. Now all dropped of credit file. Barclays wouldnt play ball so that defaulted, now gone from file but I pay them £1 a month and have done for 8 yrs, I just get statements every 12 mths with another £12 off the balance. Not been sold on, perhaps it will in the future. When you say reset the limitation period, what does that mean specifically?
  3. I do have the contract, I got it last week and will send it this week. Also they have also requested deposit from DPS scheme so me putting this money in there that they didnt give and claiming wasnt protected they are getting the full benefit of doing so.... What a waste of time.
  4. Thanks for replies and just getting back on to this. So as we speak this is a Part 8 claim, from what I gather as its a no win no fee solicitor they get paid from costs and Part 8 seems best way for them to go unchallenged and get as much in as they can. I sent in a letter to Court and Judge has kept court date of next Tuesday. But has said it shall proceed as a Directions hearing. In my letter I asked for case to be thrown out as there was no deposit and also the fact that I wanted to counterclaim for damages to the property. If I counterclaim will it be a normal small claims court process and will the no win no fee solicitor lose interest? I was willing to agree settlement but as I said the solicitor wants £1,700 costs so its just not an option, where do I stand with that? Costs will increase if we go to court and then court again, so this will only go up. I want to settle as I am out of the country, the otherside are now coming out with witness statements saying I took money in cash etc. and she is basically a lying b$%$£ and has obviously convinced her solicitor and also I want to be seen to be making an effort to settle before court but I see the solicitors costs as the stumbling point in all of this. Also why didnt the solicitor speak to me before going gung ho into it all, no letter nothing to me?? Is that right?
  5. OK, all mine were with the original lender and I got between 15 and 20% F+F. This was back in 2010, have things changed alot since? I am not a fan of the debt mgmt, as far as I can see they can go on forever and once at the end of them then there is still another 6 yrs after that to sort out a credit file. Also with risk of default etc and debts being sold on in the meant time. What other options are on offer here to clear things? Does he have to wait for debts to be sold on for it to be a better F&F.
  6. I referred samdon1988 to this forum as it helped me out no end in the past when I had similar debt amounts and sorted them all out. So from chatting I mentioned to Sam that the debt management plan will go on forever and a day and lenders could add defaults in the meantime anyway and that may be in 2 yrs time. So either way he is going to have a bad credit file for a while. Why not just use the inheritance to clear the file and pay off as much as possible so he can start a fresh. The inheritance will clear 20% of debt in total so my suggestion was to offer full and final, yes be mindful that it will not be great on credit file but its the debts gone. Is this a suitable plan? When you say mindful of putting money to better use, what other options do we think he has? I can see the Sainsburys loan is the big issue here, any experience with them accepting a full and final at all? Thanks
  7. I have an old tenant who has taken me to court for not protecting a deposit. I didnt get a deposit but it was so long ago I put my foot in it by protecting a non-existent deposit, thats another story. Short story is that we agreed on an amount to settle this before tenant left, all in writing on email. I sent over part payment and then part of the agreement was to send over the rest of the payment on satisfactory return of property. In this time I then went back to UK and found old contract showing nil deposit and old bank statements with no deposit received. At this point I was at the stage of well I had already agreed on this amount, saying yes I would give deposit back, so I had shot myself in the foot. the property was left in an awful state, £5k later to sort it out, I sent letter, on 7th May saying what you gonna do and no reply, I didnt give the rest of settlement as I was waiting for her to get back to me. No call and then I get court papers, They started on 10th May, she moved out at end of April. I received all these court papers for a claim of 3 times deposit. I asked them why didnt they call or speak to me before doing all this and they insisted that I hadnt made any effort to settle???? I send a without prejudice offer of twice deposit, they have now sent a part 36 offer of the same amount and have asked that I pay all costs, £1700 costs??? and then 2 timed deposit...... Other issues, I want to throw case out, I havent got a deposit, I want to couterclaim but where do I stand with this offer, surely they should have at least tried to contact me, the costs are alomst twice my offer???? What can I do about the costs?? I am out of UK and would rather settle as this is a headache I dont need. I cant even go on about my other personal issues they are a nightmare, just bad timing....
  8. Thanks Andy for info, a bit more on my case below... Ok, so I have a slightly long-winded scenario, tenant in a property for 8 yrs. All great from both sides, no rent increases from me and rent paid on time from them. Moved out and now filling for deposit not protected, via a claims company. So they moved in in 2009 and only paid the rent, there was actually a contract signed showing a deposit taken and this was then to be paid later that day or week (I cant remember the exact details it was 8 yrs ago) I got a call the night of her moving in saying she couldnt afford deposit, not a good start and I did say she should leave but I called back and just said sign a new contract and we will say no deposit, thought it would be more hassle moving her and she was moving next to her best mate so thought she would be long term. So she signs new contract and sends it back. Fast forward to now she sends me old contract and says where is my deposit protected? At this point I have been living out of the UK for 2 yrs didnt have access to my paperwork and just assumed she had paid deposit due to contract she sent, I literally couldnt remember, it wasnt a huge amount so I actually protected it without too much thought. She then sends a letter before action, so I call her up and we agree on deposit being returned and an extra amount for a bill. There are various email exchanges but this is also agreed on the email and I forward over the amount for a bill and then say the rest will be paid on leaving. She then gets a no win no fee solicitor on board. I look into it further on return to UK, I realise my mistake that she never did give a deposit, see my updated contract (only a scanned version, 1st one had witness this one didnt as I sent in post) look at my old bank statements and it shows just the rent going in nothing else. (she has since said she paid deposit via bank transfer and rent via cash, I dont accept cash, never have, my witness to my signature will verify that I didnt get any cash). So yes I protected, late a deposit I never got. So the way I see it she will use the 1st contract and say a cash payment. My defence is no contract and no payment, plus she already accepted an offer from me. We are now at the stage of court, I got an initial letter from claims co. called them up to tell them all of the above then the next thing is I get court papers. I have to file defence in 3 days, havent even seen all documents as my post hasnt come but luckily got main bits on email. Its a part 8 claim. Also when she left I had to pay £5k to make the place habitabal for new tenant..... To defend I was quoted inital costs of £1000 and they have no cash so no point claiming costs from them, thought I might as well settle instead of fighting. I have offered the equivalent deposit back twice. see what they say but that would be less than costs to fight and expense of going to UK to court. My defence, no deposit paid and a settlement reached (all be it on email) anyway. Do I have a good case? Also can I counterclaim on this procedure?
  9. A tenant is taking me to court for non protection of deposit. I was never given a deposit so I am not too worried about it, although I stupidly filed it late thinking I had. Anyway its Part 8 claim. She has left with over £5,000 of damage can I counterclaim on via this acknowledgement, it doesnt make it clear I can?
  10. Ok so stamp duty of £14k was paid in June to solicitors and they haven't passed on to hmrc and found out yesterday they have the administrators in. Obviously hmrc want stamp duty so where do we stand..... Fraud dishonest, told us they had paid it then this... Shocking is their a fund or insurance to get it back???
  11. Firstly write to them all and tell them you can only afford £x amount to pay them back each month. Set the letter out in the same way you have this post but add a column of how much you can afford to pay each company per month. Ask them to freeze interest on all account and stop adding charges tell them Once they have done this you will then start your new payment scheme. Also suggest that within 6 to 12 mths you may well be able to offer a lump sum, although there is not point in paying a lump sum if they decide to add a default to your account (ideally this stops them adding a default but some may just add a default anyway so thats what may happen) I had probably 5 times your debt and all lenders were good accept Barclays, they added a default straight away so I just then told them I could only afford £1 per month and have paid that for last 3 yrs. Other lenders I paid off with a lump sum of between 20 and 30% of total debt, amounts range from £4500 to £30,000 so big amounts. I also could not go bankrupt as I would have implications on my job, the default gave me grief about 2 yrs ago with a work situation but I got out of it in the end so wasnt a huge problem. Either way you need to understand the rules of this lending and paying back game so you can play the game to your advantage. I dont say this in a get one over on them kind of way, I say it because the lenders know the rules and will chase as much as they can but you need to take control because it doesnt need to get you down. Think about it how long would it take you to earn £17k? a year or so? If you can write off half of that with some good research and letter writing it may prove a good investment of time. Look at my old threads to see how I did it for some more research. Good luck
  12. As a Landlord he has to have had your money held in deposit with an agency and if he hasnt then there is an automatic fine of, I think 3 mths rent, point this out to him as its likely he hasnt had your money held with anyone, if that doesnt scare him then whoever the money was held with can make an judgement on what is owed or not. I know this for sure as I own a property and it was left with leaks and I had to replace the floor yet the TDS adjudicators still gave the tenants all their money back, even though I had pictures of the place?? Point is they usually side with the tenant, I would be more worried if I was him than you. Hopefully you had pictures of the state of the place etc but I would have to question why you would move in to a place that was so awful, cheap rent, promise of things getting done? Anyway good luck but you will get your money back if you scare him with the law.
  13. Yes had in writing they arent paying the money, thatds the claim but they have said why they arent ( sorry confused on that one) Yes resigned myself and was given a good reference on leaving Never had any issues before, in fact as I said I was given a good reference and I was picked out to deal with high value clients as they recognised I was good at what I did. When I left it was all compliant and no problem, I have proof of the case itself being compliant and have from an external agency. They are just trying to blow wind up it and discredit me. they added something daft suggesting that I was refused a case to go through. This other case itself was something I proposed which was outside of the box it was a complicated retirement plan which I put together and the Directors didnt understand it, they got an external compliance agency to look at it who red flagged it, they said there was nothing wrong with it and they werent telling me not to do it they just said it was something they had to be careful with. This was fine and the ironic thing was the Director was in a magazine article a few months after I left saying "These new options are being missed out by lots of companies, especially among advisers. We hope we fill that gap" I taught him about them... and they are trying to use that against me, pretty daft if you ask me.
  14. Also I want to add they gave me a good reference when I left and when I was there I was picked as on of the advisers that dealt with high value clients along with the 2 directors, the other 10 advisers dealt with smaller funds. I dealt with these types of clients because I worked with them in the past and they knew I knew what I was doing and held me in high esteem. This particulat case we are talking about was a small fund and the case it self was very simple in fact simple enough for the company to allow unqualified advisers within the company to deal with some with only weeks worth of experience. Also one of the Directors and the compliance consultant are not qualified......
  15. Thanks for the reply, yes its point (3) they have witheld commission on the basis of me not providing a compliant file. - No provision for such in the contract, in fact the contract was not signed as they change commission terms for me which I didnt agree to. - The file was absolutely fine and I have had it independently verified by external compliance agency who have said its totally fine ( they took less than an hour to do this) - Yes they have suggested its taken 3 directors and a compliance consultant at £150 per hour for a director and £35 per hour for a compliance guy to deal with. - Well commission for this case was around £2k I am claiming other unpaid commission of which was renewal fees and also FSA fees they charged me which they did not pay to the FSA ( I know this because FSA fees are based on head count on the 31st December and then charged accordingly the year after, as I started on the 4th Jan there was no fee payable until the year after and as I left on June then there was not fee payable for that year, that was £1000)
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