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  1. Hi Good morning, Please read my original posting (#24) on Feb 23rd. You could have saved yourself some time. The CAB's "advice" is disgusting and if they were regulated by the likes of the Financial Services Authority they would be getting themselves into serious trouble. Please talk to your local court and look at an administration order to deal with this, it is means tested so you would only be paying what you can afford just like you would in a DRO. Even bankruptcy will not write off parking fines I am afraid. Good luck.
  2. Thanks again to Bigmark for this amazing piece of advice. I have now spoken to the FOS mentioning the MCCB and they have agreed to re-open the case. They are sending a PPI questionaire to me. I am amazed at this, I wish I had known about it when I first complained to the FOS and I wish they had looked at it properly at the time. Thanks again, I will let you know how I get on.
  3. Hi You are right, they are not obliged to provide an I&E but my understanding in this case is that MW2's objective is to maintain his monthly payment at the same amount as with the previous creditor. If that is the objective, then a simple I&E showing that the monthly payment is the most MW2 can afford, it is likely to be accepted by Moorcroft. If there are other objectives, they can be dealt with differently. To answer Brigadiers question, yes I have professional as well as personal experience. I am certainly not a DCA and I do not work for any creditors. The posts I make on here are my personal opinions based on my knowledge and personal experience and are intended only to help if I can.
  4. Hi, I appreciate you are a little vague, but it is possible that because you are over your limit and more importantly havent paid them anything at all for 8 months, they have defaulted the account and passed it either to their collections department or a Debt Collection Agency. If this is the case they are probably offering to freeze interest and charges for a specified time to encourage you to enter into a payment arrangment with them. They would prefer to keep dialogue open with you and and to receive some payment each month rather than nothing at all. Good luck.
  5. Hi, Please consider these points, I hope they help. 1) Using someone like the CCCS WILL help because they will negotiate on your behalf and help prevent you getting bullied into paying more than you can afford. They will also give you advice and help as you are faced with different Debt Collection Agencies and the different tactics they use. 2) You will still get defaults and possibly CCJ's, but that would happen anyway if you are not making your full contractual payments. 3) It is better to pay a something each month to show that you want to resolve the problem. Your creditors will be more co-operative if you do this. They will be less co-operative and more aggressive with you if they think you are just refusing to pay. 4) It is standard practice for many creditors to pass debts to Debt Collection Agencies if contractual payments are not being met and they do often accept lower payments. 5) DCA's will usually accept as little £5 per month, but you will need an Income and Expenditure analysis to show that this is the most you can afford. This is where the CCCS help very well. 6) If you offer less than £5 per month they are unlikely to accept it and could pursue their own action against you. However, they cannot refuse to take any payment you make to them, even if it is only £1. My personal view is that going down the CCA and enforceable agreement route is a minefield and you really need to know what you are talking about. It will also involve a lot more work and might not achieve anything at all. It will certainly not get any debt "written off", it just becomes unenforceable, until they find the correct documentation, then it becomes enforceable again. I hope some of this helps, but if you have any questions I will do my best to answer them.
  6. Hi, Back to the matter in hand..... A couple of points to consider... From the information provided so far, it is unlikely that your daughter would be eligible for either an IVA or a DRO so although they would put a stop to any further action, they are not going to help in this case. Parking fines are not cleared in bankruptcy so that would not be a solution either. If you have a CCJ you might be able to apply for an administration order through your local county court, this is an affordable payment plan arranged by the court to deal with the debts. The bailiffs would have to accept the courts arrangement. As others have already made clear - Your daughter should definately contact either National Debt Line or The Consumer Credit Counselling Service. Good luck.
  7. Thank you very much again ims21, you have been so helpful. Also a big thank you to Bigmark, this is something I had no idea about and is definately worth exploring. I will get in touch with the FOS on this and let you know how I get on. Loans.co.uk rejected my complaint because they said it was over 6 years since the loan was provided and therefore had no records and that it was "time barred".
  8. Hi again, and thank you again ims21. Thanks also for the information on the FSA fining Loans.co.uk, this is very useful. I have read all of the information on PPI reclaiming and the Interest tutorial as you suggested, again it was very useful. I am however still a little confused about the interest to reclaim. My undertsanding is that if the FOS were awarding the interest it would be simple interest at 8% per annum. According to your spreadsheet on this the interest would be £6016.95, making my total claim £13766.95. However if I take the claim to court, which I intend to do, then I should claim restitution, so the interest on your compound interest spreadsheet equates to £10887.04 making my total claim £18637.04. The interest rate used is 9.5% which is the rate on the credit agreement. Does any of this sound correct? As for my next steps, I understand I have to put together a Particulars of Claim, and I have found a template on this. Do I need a cover letter and what are the court fee's for submitting my claim. Also, can you please point me in the right direction with the process I need to follow to submit my claim. Once again I really appreciate your help on this.
  9. Hi, Thank you very much ims21, I will look through items 1 and 4 on your signature as you suggested. In the meantime, the history of this claim is as follows: 25/06/2002 - Loan started (including £7750 single premium PPI) 15/06/2004 - Loan repaid in full after sale of home. 31/10/2008 - First letter of complaint to Loans.co.uk 05/11/2008 - 1st Response letter from Loans.co.uk 07/11/2008 - Second letter of complaint to Loans.co.uk 25/11/2008 - Complaint sent to FOS 11/12/2008 - Letter received from FOS stating that they cannot deal with the complaint because Loans were not regulated at the time. 07/01/2011 - I asked "Claims Advisory Group" to take up my complaint for me. I did explain everything I had done before but they said they could deal with it. They were very convincing on the telephone and their fee would have been 39% of any successful claim. They didnt get anywhere. I have kept copies of all correspondance and I still have a copy of the original credit agreement showing the single premium PPI of £7750. The interest rate was 9.5%! Once again I appreciate your help very much. For someone who has been through a divorce and two redundancies in the last few years, this money would make a huge difference to me.
  10. Hi, I am getting increasingly frustrated and hope someone on here can point me in the right direction. I was mis sold a single premium PPI policy in 2002 on a secured loan. I didnt know anything about this type of insurance at the time and have several reasons why it was clearly mis sold. The single premium policy was £7500 and was added to the loan. The loan was repaid in 2004 when I sold my house after divorce, partly caused by financial hardship. I have followed the usual complaints procedure via the company Loans.co.uk, then the FOS. The FOS couldnt rule on my case because Loans.co.uk were not regulated by the FSA at the time. I now believe I have to take this to court to claim my money back. I have spoken to Community Legal Services and they gave me the name of a firm of solicitors, but they want a £1000 "on account" before giving me any advice. I dont have a £1000. I would be very grateful if anyone who has been through a similar experience could give me some guidance on the course of action to take. Thank you in anticipation.....(please)
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