I am working to clean my credit file as much as possible over the next year.
The biggest problem I have is a default from Everyday Loans which is currently with Lowells.
I fell into dispute with Everyday some years ago after they were unable to demonstrate how they arrived at their figures.
I have not paid or acknowledged anything to Everyday/Lowell since May 2011, but I cannot ignore the issue any further.
As always it's a long and complicated story but I will try and break it down into small chunks...
1. The loan was taken out May 2009 for a sum of £1500, repayable over 23 months @ £186.09 per month,
this included PPI and a "secondary loan" for life cover and personal accident cover.
2. In September 2009 I encountered a period of financial difficulty, missed a payment
and then rang everyday who agreed to reduce my repayments to £163.45 per month, so a reduction of £22.64 per month.
This was all done over the phone and I signed nothing nor received any paperwork.
I was told they could do this as they had cancelled the life cover etc...
3. I continued to pay at the reduced agreed repayment of £163.45 per month until May 2011.
I rang Everyday and asked for a balance figure as we had not received a statement from them
and we were now nearing the final payment on the loan, or so I thought.
4. In May 2011 Everyday sent a statement to me claiming that I still owed £5923.85p!!
I obviously refused to pay until they could demonstrate how they had reached such a figure.
I also noticed that our duration of agreement had jumped from 23 to 52 months.
5. Everyday passed the debt to a DCA in 2012 (Town & Country Collection)
6. In May 2013 we received a statement from Everyday for the period May 2011 to May 2013,
this detailed that we had not paid anything in 2 years which is correct,
they had added on £25 per month in overdue fees until January 2012.
Again the duration of the agreement had jumped from 52 months to 57 months.
Though the balance had mysteriously dropped to £4607.38p
I have been looking through the paperwork, but I am struggling to get my head around the figures on the original CCA.
My APR calculations are coming out with completely different figures.
Could someone please take a look at a copy of my CCA (attached) and tell me if it is
Many thanks in advance for any help offered.