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About jamesf104

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  1. Well done Bebo, look forward to result. We all write letters of agreement in dispute but WF ignor this saying they do not follow the banking code and therefore the account in dispute letter is totally rejected. Can anyone direct me to actual regulations that we can quote. I do suspect there are none and the only dispute formula is through the FOS. WF are very slippery people to deal with throwing up all sorts of barriers.
  2. Colin, I think we all will be very interested in what exactly comes back from WF. Seems you may have been done over very nicely! But plenty of guys on here to help.
  3. Hi Mich, it's all very well them writing a loan of tosh and expectiong you to lie down. The fact is the amount payable written on the agreement is wrong which they have arrived at by adding D+E+H. This is wrong because D should not be added in at all. They talk about the 48 x payment equals the correct sum payable but that figure does not appear anywhere on the HP agreement and can only be arrived at by calculation, which is exactly what they have done.. What is more, the figure quoted for termination is based on the wrong figure and not the figure arrived at by payment x 48, work it out. So t
  4. Hi Mich, we have gone over this before I think. The HP agreement has the wrong total to pay because they have added in the £1300 previously deducted, the correct figure is £8338.56. You have here 2 separate agreements, one is HP and the other a fixed sum credit agreement for the PPI. Both have different interest rates so they are indeed separate and should be paid for separtely. You have even signed for these as separate agreements and yet they mix the two together. On the HP agreement they even compound their error by quoting termination rights based on the wrong total payable figure of £9638
  5. as post would say, these letters are crap. The total charge for credit includes the arrangement fee which as part of the charge is not subject to interest and is allowed to be paid for over time. Sec 9(4) CCA1974. I understand from a post I have seen whuch was a reply from Welcome saying that the MIF is not an insurance. So its a fee that they just apply, I am challenging this myself The Wilson case refers to secret commision and fees withing the PPI insurance, these should be brought out but they are not and in the Wilson case the PPI was not payable. I have the same and am challeging it. A
  6. bebobebo, if your agreement is not properly executed then nor is the security instrument (Legal charge)and they have to return this immediately (sec 106 ineffective securities) it worked for me. Getting them to agree unenforcible may be difficult though. Try it.
  7. Its not on ours either nor is the total interest payable, you have to calculate it! Unexecuted agreement!
  8. I assume this figure includes MIF as well. Still a fee and yes you would pay back that much but still for the purpose of the act I would argue that your loan is still 25K and not over. The fees take it over 25K but are not counted as credit as they are part cost of credit. I am assuming that the argument is whether the loan exceeds 25K or not, I say it does not. Without going back over,I think this started as an MIF thing but it was established that MIF is a fee and not an insurance. Therefore MIF is cost of credit as post has said
  9. In my view the fees, as they are part of the cost of credit, do not add to the actual credit which is the loan amount i.e. 25K The loan of 25K is the credit that the act refers to while the fees being part of the cost of credit together with the interest do not increase the loan amount, just as the interest applied to 25K does not increase the amount of credit, so do the fees not increase the credit either, the loan to which interest is applied is still 25K not 25K + fees. Sec 9(4) is clear on this I think. Its my opinion of course.
  10. My view is that the MIF and the acceptance fee is part of the total charge for credit and is not credit and as such should not attract interest. These fees are both compulsory and clearly are a charge made for the credit advanced. Its clear now that MIF is not an insurance but just another fee that welcome have devised, therefore I would argue that this is part of the cost of credit without interest being applied but paid over time sec 9(4) says this I think
  11. looking for that answer myself. in my case if the PPI an MIF are removed and the same level of payment paid then this loan is well finished. At present they still want more than 9k and rising.
  12. Just a thought. If the agreement is deemed unenforcible and the security returned should not the MIF fee be returned also as there is no home to repossess. My opinion is that it should be. Anyone?
  13. I am interested to see how yours runs, it would seem ours is similar, wrong figures on agreement which do not tally with statement. In our case the statement had the correct total loan figure while the agreeement had the wrong figure, took me a while to realise that they had screwed up, but it made the agreement unenforcible. Unfortunately according to WF the debt stands but we dont have to pay. I'll follow your thread with interest.
  14. If you read CCA1974 sec 105 Form of security and then sec 106 Ineffective securities you will see what I mean. the loan is not cancelled but at least the home is safe, a major consideration I think. Sec 105 Form and content of securities (5) A security instrument is not properly executed unless— (a) where the security is provided after, or at the time when, the regulated agreement is made, a copy of the executed agreement, together with a copy of any other document referred to in it, is given to the surety at the time the security is provided, or (b) where
  15. emanevs, I was interested in your post re the letter andys 123 should send. Unless I have missed something, you state that on the grounds that the agreement is unenforcible (non executed) andys123 can claim back all payments made before this date. Other posts I have read in the past says that payments cannot be claimed back and indeed WF have refused us and continue to lump interest on and increase the arrears. Ours is an agreed non executed agreement because of addition erorr but as this was a 2003 agreement you can imagine the other errors on this document which make this totally non complia
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