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  1. hi i was wondering if anyone can help/advice me i have secured loan that is now with idem of which i was in a payment arrangement of £150 a month as my partner lost his job they accepted this then went ahead served with court repossession papers i had only just spoken to them they forgot to mention that court action had already started, i have told them that i can go back onto full repayment soon as my partner gets work i have been in payment arrangements with them for approx 2 years the shortfall in payment to them now is m
  2. a loan was taken out in 2007 with Picture Finance originally. It was to consolidate a credit card debt, the existing Picture finance loan and to provide some additional funds for our business which was experiencing a down turn due to the economy down turn. The loan was done over the phone and no information was provided via post. The earnings were used from the original loan paperwork. We were advised to put the loan down and home improvements and a holiday as it was easier to get through than raising business finance. (We did what was advised and it is my understanding tha
  3. Are early redemption fees are claimable ? Just we had a secured loan for 18,000 then needed to borrow more so got a 36,000 secured loan and was charged exit fees and it was the same company (ge) this was about 8 years ago . Both loans were through a broker and I have the paperwork .
  4. I am new here but I have been reading about Idem. They have written to my husband only regarding our joint loan being transferred to them. They have given us a new account number and some basic info regarding paying. They have not confirmed what we should pay, or given any in depth info about the balance. What should we do? Is our loan still secured even though we have not agreed for Idem to have this? Is this even legal as I thought the homeowner has to agree security or the company has to get a court order? I am really confused and need some help as
  5. Last year we had a successful claim for the PPI on this account, the story is in my thread at http://www.consumeractiongroup.co.uk/forum/showthread.php?324408-PPI-Paragon-and-eLoan(Twopart-Ltd)-***-SUCCESS-*** OK, quick explanation. In early 2006 we took out a consolidation loan, paying back several old debts and having a small sum to ourselves to have some urgent work done in the bathroom, everything in there was broken! The company who brokered the deal went bust, hence claiming the PPI via FSCS last year. Paragon have been a pain in the rear as they started repossession proceedin
  6. Hi All Slightly complex situation but here it is, any advice appriciated. Overview We have a mortgage with NRAM and a secured loan with Picture>Webb>IDEM. We cannot make payments and are in default. NRAM looking to put us on a voluntary repossession scheme which are happy with. IDEM have had us is court. Today was the third hearing and they didn't show as they cannot find the correct Deed of Entitlement information, witness statement and paperwork. They asked for Adjornment via letter (not sent to us only the court) but the Judge struck out the cla
  7. We are looking to take out a bank loan secured against our property, we have been advised by the bank that we need to obtain 'independent legal advice for secured lending against a property for debt consolidation'. I've just spoken to a solicitor who basically said that the purpose of this is just to take the responsibility away from the bank, and that that it's largely for their benefit. Is this the case, should we get it anyway?
  8. Hello, I would appreciate some advice if someone can help please. Back in Jan 2012 we fell into arrears on a loan secured on our house, we ended up going to court (this site gave us loads of advice & help prior to court) and we agreed to pay an extra monthly amount to clear the arrears. The loan was sold to Moorgate Consulting in 2013. Moorgate wrote to us in October 2014 asking why hadn't made the agreed payments, we called them to state that we had and ended up sending them bank statements to prove payments had been made. They then called us back and stated it was their e
  9. I dont know if any experts on here can help with this one, it is a bit complex! Is is correct that creditors are not entitled to charge interest on a secured debt after bankruptcy occurs? What legislation allows secured creditors to just sit on their security...? because essentially all debts, whether they are secured or not are in fact included in BR. Anyone with any legislation would be gratefully received.....
  10. In dealing with my financial affairs, my solicitor advises of a second mortgage registered by Citi Financial. The first one is Nat West which we are close to paying up. The Citi one relates to a secured loan taken out in 1996 and which was paid up 2004/2005 but is still showing up as a mortgage against the property. Unfortunately we have lost supporting paperwork - so how easy is it to get this removed as it is important for us to move forward. This was originally on my credit file and has since dropped off. Can anyone help.
  11. hi i have been burying my head in the sand over this court case and someone pointed me in the direction of this forum. Some time ago my husband and myself took out a loan for £35k with first plus, we shouldnt have done it as we were in debt already and saw part of it as a way out then by "consolidating" our payments, not realising that by taking this over a 15 year period at 10% APR it would be a huge amount to pay off. At some point last year the account went into arrears - i had a period of unemployment, then got a job away from home then split with
  12. Hi can i ask if a secured loan on a property still falls under the CCA1974
  13. I am really hoping that someone can help as I am struggling to find advice due to the fact that my situation is slightly different. I will try and keep it brief. An individual that I used to work for who I considered a friend loaned me a large amount of money to assist with purchasing my house. What I didn't realise at the time and call me foolish if you like was that this individual was hoping that by assisting me that I would enter into a relationship with him (he is married I might add) Anyway because that did not happen he turned against me and requested that the loan become secu
  14. Hi everyone, today it has been 10 years since I took out a secured loan with GE money for £20 k and balance outstanding is still £19 k. I don't understand why the outstanding balance is almost the same. Can anyone advise what can be done as I feel I am stuck with them and their silly charges. The initial interest rates were around 7 % and now it is 12.32% per year. How can they charge a higher rate than initially agreed ? I feel like I will be paying them for the rest of my life. .Any help will be great, thanks.
  15. Hi - I have just sent off a SAR to Welcome Finance to their Nottingham address with a £10 unsigned postal order. I did not take out ppi cover on any my loans I believe ( as I wished to keep the monthly payments down) but you never know if one pops up , that I failed to spot. What I would like some advice on is what other charges should I be looking for within the data I get back that have been unfairly levied and can be reclaimed. Inevitably I expect there to be late payment charges and extra interest. Apart from a small personal loan outstanding all my earlier secured loans have bee
  16. Hi Everyone, Took out WF secured loan in 2006, missed a few payments and rep came around house a pushed me into taking out new loan to repay the old one. He asked for my contracts for the previous loan and I gave them too him. He never gave me a copy of my new loan agreement but on checking my credit reference info the old loan had been paid. I didn't fill in another land registry document with witnesses etc. Years later I requested copies of my CCA but WF said they couldn't find them however I still had to pay. I disputed the amounts and st
  17. Mortgage Arrears and Simple Interest - Is it fair? Took out a secured loan for £10,000 6 years ago. After initial application was accepted we were offered an extra £6000 which we agreed to. At the time I was concerned that we had been issued with two loan separate loan agreements - I wasnt happy with this and voiced this to the loan advisor and was basically reassured that this was just an administration technicality and would not make any difference. He even sent me argos vouchers as a sweetner. 12 months later my husband left me and our business collapsed leaving myself and 3
  18. Hello, I know a lot's already been posted on this subject but I'm being cautious and seeking some feedback from seasoned members. The above - named have a 2nd charge on my property, originating from an MBNA card balance that I defaulted on back in 2003 or 2004. I finally spoke to someone at dlc and they indicated that although they didn't settle on secured loans that I could still make an offer and they'd "pass it upstairs" for consideration. Below is a verbatim copy & paste of the letter I'm about to send with all personal details omitted. My questions for the forum us
  19. Hi All, I am having a nightmare with my previous LL. We have completed all of our contractual requirements. Inventories were carried out at the start and end of the tenancy by an estate agent. (The estate agent were not managing the property but were hired by the LL to find nd vet new tenants). The exit inventory states no issues with property and this has been passed to LL. The LL is refusing to authorise release of our deposit he has failed to give me a legal reason why. First of all he tried saying that we had 2 kids so there must have been some damage at the property (this is a j
  20. I really dont know where to start here but i will try and explain as best i can. The main reason for the post is to find out if the repossession is legal which is only the tip of the iceberg here. A financial adviser is contacted to source funding for a small residential development. The adviser contacts a company who happen to be a broker. The broker sources funding from a lender and charges £1,000 app fee. The application is made to LENDER which was successful, no issues. The name of the company at the top of the facility Letter is lets say "The Lender" There is no address or contact
  21. Just wondering if anyone has used any of the following companies for a Secured Loan/Bridging Loan The one time or current directors/Partners were/are Wayne Smethurst, Andrew mark Brown, Ron taylor-Walker Capital Advances The Finance Centre Capital funding Ltd Capital Funding One Ltd Havenglow Ltd Home Independent property Services ltd TFC (UK) Ltd TFC TFC Homeloans TFC Commercial Ltd TFC Partnership Ltd TFC Consortium Ltd Glow Mortgages Ltd Glow Group Ltd The Mortgage Distribution Hub Ltd Mortgage Branding Ltd Orbiter Distribution Ltd Cheshire Prope
  22. Hi all, We ended our tenancy early (with landlords agreement we have a signed deed of surrender). We owe the landlord a few days rent which we agreed to pay. When we asked initially for details of the deposit scheme the LL had used we received no response. We have written three times to ask for the information to no avail. The LL has now sent us some cash but has deducted over £260 for various 'issues' all of which we would strongly contest. Points: 1. AST from 2012 2. contract states deposit scheme will be used although not which one 3. no inventory completed 4. we have vacated
  23. I took a £20k secured loan out about 1 and a half to 2 years ago now and been paying the extortiante rates back since. Never missed a payment till now. Ive hit financial difficulties and need some help. I believe my CCA in incorrect and am considering putting it into dispute also. I sent of the subject access request and the CCA request along with 2 seperate postal orders. One for £10 and one for £1. I received a letter today saying thanks for the requests but please send a cheque for for £1 and the £10 !! My postal orders were no where to be seen or even mentioned in the l
  24. Hi there I am new to this site but I really don't know where to turn at the minute. A few years a go I took out a business loan for around 140K. Due to a series of issues I had to walk away from the business which naturally left me with a considerable amount of debt that I haven't been able to pay. The loan was secured against two properties (one commercial and one my home). The bank repossessed the commercial property last year and until today I have had no contact from the bank at all when today they sent me bank statements for the business loan account and my overdraft account.
  25. I am really needing some help. I have a house valued at £110,000 and a mortgage of £105,000 which I may need to sell. The only problem is I have a secured loan of £34,000 on my home through Picture (or whoever they are now) which has arreas of £650 and they will only get bigger as I am no longer able to afford the loan. What I am wanting to know is am I allowed to sell my home even though the secured loan won't get paid off. I am intending to rent if I can sell my home. Any advice would be much appreciated. I don't want to sell if I don't have to but will Picture?? take my home even if t
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