hello, hoping someone can help and point me in the right direction. In hindsight I wish i had done some reaesrch beforehand and found this site 10 years ago as now i wouldnt be in the mess that i am in so in 2008 i was in desperate need of funds. I approached a broker who introduced me to lancashire mortgages. initially i went for a bog standard mortgage but due to my circumstances and being self employed it was turned down at the initial stages. they did however offer me a secured loan. i should have seen it then that it was a trap. i took out a secured loan in august 2008 for 26k adding in fees etc it came to 30k. my payments were set @ £310 per month for 300 months in the agreement. I was stupid and desperate and didnt fully understand what i was getting myself into Having re read the agreement now (as i recived a letter a few days ago, more below) it stated in a clause that i understood that this agreement was not to be regulated by CCA. had i done my due diligence and was not so desperate i would never in a day have signed something like that. The first year went fine. all payments made. then in 2010 my employment became erratic and i started to miss payments. the usual threatening letters and calls followed and they put the £35 charges on to the account more than a few times. i always made the arrears payments as soon as i could. over that year and a half i got in total 44 call charges of £35 each and 5 £150 for letters sent for initiating proceeding and 3 for sending letters advising possession proceeding starting @ £500 a pop. It was a bad time. However i paid all the arrears off etc (not the additional charges they popped on) Since then i have always paid on time. for the last 7-8 years i have never missed the agreed payments always in the hope that i can save and pay off the damn thing (I can hope cant i?) the other day i get a letter with a break down of my payments since 2008. I was horrified that i have paid near enough £30k since then (the total loan amount) and there is still 15 years left which means ill end up paying over 90k if i continue!!!! that wasnt the worst however, they have said that my plan isnt on schedule and i have to pay £12k by mid august (given literally 2 weeks notice), to give them a call to discuss options. I literally broke down. no outline as to what that £12k consisted of and no breakdown. letter just says that i had failed to keep to the agreement (well the agreement was to pay £310 a month for 300 months which is what i have been doing) . The agreement was to make 300 payments of £310 per month which i have been doing on a regular basis for 7-8 years now with no missed payments. the APR has always stayed the same with no change even the payment breakdown shows this. Yet the interest accrued was now at £380 per month. looking at the outstanding balance its at £38k!!!! i literally broke down and haven't managed to get out of bed until now I have read all the other posts and know that it changed they from blemain to together. I need to get out of this bad situation. I always knew that i would have to make the payments each month and id have to pay the initial loan amount which was inevitable with such leaches. I was bidding my time to pay as low redemption as possible. started off at 5% and now its only 1%. also with the hope that my fortunes would turn and i would have the funds to pay the leeches off in one go. However the outstanding balance is now £38k and they want an additional 12k and thats not even redemption figures. To top it all off they have registered themselves on my property with land registry. No where on my agreement does it say thats its regulated by the CCA in fact there is a small clause on the first page which states that i understood that it wouldnt be regulated by the CCA and stupidly without understanding the consequences i signed. I thought after april 2008 that the 25k limit was lifted for such agreements to be regulated by the CCA as its what i have read on other posts on the forum? and thus am i right in thinking that my £30k loan is regulated regardless of the tactic they used to insert that clause? is my agreement regulated? can they be adding the interest like they are without even once notifying me that its increased and to advise me to increase my payments? the interest rate has always been the same since day one.. never have they contacted me to say i need to increase payments(why would the i know).. So stuck... they are ripping me off left right and centre and i dont have the will to live. bleeding me dry like leeches. What can i do?? i have to call them in the morning to discuss options but i wont say much or agree to anything as surely this must be illegal or downright immoral. i must have some type of recourse? Can some one help? shed me some light? Thank you...

Can someone kindly advise how to calculate possible PPI reclaim amount ? I have calculated my monthly PPI interest amount figure using forum details located in which I have already paid over120 months but still have 60 months to expiry. Any assistance would be appreciated as I would like to know a possible figure in order to compare with Welcome's offer if successful.

Hi all, To make this as brief as possible, I had a second charge on my property with Nemo personal finance. In 2007 the property was repossessed due to a lot of bad luck and the original lender sold the property over £50,000 less than market value just to cover their own expenses (G E Money) which left nothing to pay off the second charge. I have been battling this loan on and off ever since and during this time Nemo took me to court and won because I never defended the claim and this was due to the fact \I knew nothing about it. I agreed a miminal payment to them which I paid monthly about 2/3 years ago I wrote to them sending them £10 PO asking for a SAR. They never produced it so after a while I stopped paying and things went quiet of a year. Now they are back on my case threatening with a attachment to earnings, High court Writ and Baliffs etc. I am not sure how I should proceed with this and would really appreciate some help. I id speak to one of their customer service reps when I got the first contact letter and explained that I stopped paying because they did not comply with my request and he said he would look into it and get back to me but he hasnt and I ave just had a letter threatening allsorts to collect. When I first loss my house I did do a lot of research on this with regard to the PPI and secret commissions which there undoubtedly was but never saw it through due to personal circumstances.

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 that if it had been a business loan we would have had more protection and a longer time limited to complain) We had ppi on the policy which was a joint policy. and in January 2009 when I was made redundant from our company due to financial difficulties we discovered that the PPI only covered the first named person on the policy. We fell into arrears on our payments. In May of that year our business finally closed and we tried to claim on loss of business on our PPI insurance and we were told that as we were in arrears that they would not pay out on the policy. Even tho the insurance company had been paid up front and in full for the cover. We have had our ppi claim paid out but is there something we can do re the interest that has been charged. The original Loan was 54,000 and we are no looking at 64,000 in addition which is interest. The loan was sold to idem and now I believe to Paragon. I have been speaking to them every month since 2009 making the little payments we could. I have sent in financial statement after financial statement requesting them to stop the interest which they have never done. We have only ever received one statement in the time that idem have been dealing with the loan. Can anyone help ?

Hi all I am looking for some advice re GE money and a repo hearing set for 20 December 2013. They are trying to reposess for the below reason 1) A warrant of execution shall not issue without the permission of the court where – (a) six years or more have elapsed since the date of the judgment or order; There was an initial hearing in May 2007 and then another in May 2009, since 2009 all payments as ordered by the judge have been made. GE money have continued to apply a £40 admin charge and additional interest costs each month. Despite them refunding me some of these charges, sending me someone else's information and then offering me £50 because of it ( i declined their £50 offer). My monthly payments are 402 i pay 500 each month but because of all the charges my arrears have only reduced by about £59 in all this time. Can someone please tell me are they able to do this even though i have made all payments as ordered in May 2009. They tried to repossess without a hearing i completed an N244 and sent it to court. What do or can i do to stop this! It now feels like i have struggled for years paying them and now they are going to take my home when i only have 3 years left with them! Any guidance would be greatly received as i can't let them get away with this :mad2: P.S sorry for the length of this post

Hi - been trying to work this out in my head but wonder if anyone has any ideas about this situation of mine, thanks. I have an interest only mortgage - the arrears I previously had were shown on the statements and increased the outstanding balance, which I understand. The new balance then attracted more interest. Later the lender took me to court and had the arrears added to the security, increasing the balance again. Shortly after that they capitalised the arrears - so - assume the balance went up again. Also added all their legal fees. Does this mean that there has been a double recovery of interest then?

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 information of any kind within the contract other than the name of the company at the top. As the contract was to release the funding in stages, the first stage was released and work carried out to complete all underbuilding work. Not further funding was released after this due to the lenders demands outwith the contract. One thing led to another and the issue was unable to be resolved. The lender decided it was time to both serve a calling up notice and subsequently a court writ to repossess the partially developed land. This is where things start to open up and i find out who is who The issue is that the pursuer is a Limited Company, the same Limited company that the broker was a trading name of, effectively what this guy is saying is, the broker and "The Lender" were both trading names of the Limited Company- How was i to know that when the Financial Adviser requested £1,000 app fee payable to the lender and also there would be a £1,500 fee payable to the broker for sourcing the lender? Effectively it now looks like the Director of the limited company not only charged me to find the lender but HE was the Lender. Now, to make things clear. The Limited company using the two so called trading names had a Consumer Credit License (Legal Formation: Body Corporate) (Nature of Business- Mortgage Broker) (Category-Credit Brokerage) this is very clear from OFT. "The Lender" also had their own CCL as a separate entity,(Legal Formation: Partnership) (Nature of Business-Mortgages) (Category- Credit Brokerage and Consumer Credit) this is very clear from OFT. "The Lender" from the mass of information i found out about them has been a Partnership company for many years but the Limited company who is pursuing the repossession has only been set up for over a year. I am of the thinking that, as nothing mentioned in the contract about a trading name of the Limited Company (which would be a breach of the Companies Act) if it were the case. The limited company did not hold any CCL to be a lender. The Partnership was established at least 10 years prior to the Limited Company being set up, and most importantly, there will be litigation against the lender for breaching the contract it is simply a move to limit the liabilities to the Limited Company that seemingly does not much in the way of liquid funds. Another slight twist is that, the broker and lender have no association whatsoever with the Limited company now they are now trading names of two other Limited companies this guy has set up and the CCL status of all companies is that they are Mortgage Broker NO MORE BEING A LENDER! Again, just to add a little spice. the three individuals who own the Partnership/Limited companies have between them Dissolved over 40 companies within the last 8 years or so. Should it not be "The Lender" named within the contract pursuing repossession. Should i be suing a company not named on the contract and also unauthorised to lend? As i mentioned, this is the tip of the iceberg, Thanks in advance

The Loan Ranger is on TV tonight-highlighting the dirty little tactics of the unscrupulous loan companies-let's hope that the government watch it and do something to bring these underhanded bandits into line. Especially the Unregulated sector.

Hi, Im new here and wondered if i can get some help. My wife and I took out a remortgage in Oct 2004 for £22k. Payments at £333.06PM over 180 months at a eye watering 17.9%. We were not aware that the finance company were using the Rule 78 system until a few years ago. Since last year we have gone into arrears as we could only afford to pay £200pm. Last statement in February 2013: Balance was £28,699.76 and arrears balance £2,388.02 The original agreement has no mention of Rule 78 so I need to know if their practise is illegal and if we have a claim of any sort. Help!!!

Hello Everyone, I have been trying to find a section for this for ages, I am surprised there is no section for PayPal/web-wallets. Over the years I have seen Pay Pal act in such a despicable way, they randomly close accounts, they take peoples money and hold it for 180 days with no reason, and so on. I know of people who have nearly had their businesses destroyed due to Pay-Pal locking large sums and insisting they keep them for 180 days. every-time they give the same nonsense about locked due to risk. What bothers me is they seem to be a rogue company - that is out of control, They do things banks or other companies could never get away with, they seem out of reach of any common recourse (such as the FSA, or even making a subject access request) by being in Luxembourg. It's one thing that really bugs me, and it's hardly talked about, how are they getting away with this?.They have zero respect for their customers, treat them like garbage, I guess being a monopoly they have no reason to treat people well. Having read online how common this is it just bugs me and seems to be one of the great injustices in the consumer/finance markets. Having also experienced this recently I expected I would be able to get them to correct their mistake and unlock the account, but no, you get an automatic Account locked, then a few seconds later “Appeal refused” - then the our decision is final. (before appealing). I would not want to use them again, and thankfully do not keep funds there, I am just shocked they can get away with acting like this. And people don't seem to realise until pay-pal decide to keep their money. Sorry for the rant, but it is so disgusting how I have seen people treated and its frustrating knowing many people, like I did, will trust them until it happens to them. Thanks, hereigo

I am trying to pursue a claim for my PPI payments on a HP agreement taken out in 2004 and have found out that due to the age of the agreement the company who sold me the car was not regulated by the FSA, is there any point pursuing the claim against an unregulated company. The PPI payment was one which was added to my loan as a one off payment totaling £925. It was missold on the following grounds. I was told my HP loan would not be successful if i did not take out PPI and GAP Insurance as i was a high Risk Customer (bad credit rating). I was not told the insurance could be purchased from other sources I informed the seller that as i worked for a company that provided FULL PAY for sickness the policy was not needed. The Car Sales company was Called CAR CREDIT UK LTD a subsidiarity of Contact Center finance services, the loan was provided by First response finance but they have already told me to BOG OFF as the agreement is over 6yrs old and they do not need to investigate after this time. Any advice greatly received

Hi, I have somehow got myself into a mess with a sub-prime car finance lender called PCF (Private & Commercial Finance Group). I have had a poor credit rating for a couple of years due to two CCJ's that have been present on my record. Due to this, when looking for car finance this year I used a car finance broker to get me a HP agreement for £22k on a vehicle of which he selected PCF. After 3 months I had to buy another car due to major issues wth the current one. i asked for a redemption figure and everything was in order. The next car I bought was also financed through them, this time on a 5 year HP agreement. Due to my circumstances the rate was high (20% APR) but I accepted that this was the best i was likely to get and agreed to it after asking the broker if there was possibilities to make overpayment's, no massive early redemption etc. It seemed just like the previous agreement I had, which had only charged my 1 months interest to get out of it early. I trade in my car, put £6k in cash down and take the HP for a further £26k. Ok, so fast forward 6 months. The reason I mentioned the CCJ's was that I have been pursing the claimant for over two years to get them to agree to the judgments being set aside. Finally they agree and I ask the judge to make an order. The order comes through on the 20/0/12 in my favor. Set aside and case dismissed. I speak to the broker and say look can we get off this high APR now that my credit score has been fixed? he says yes, no problem, just get a settlement figure and we can start looking at it. I call PCF yesterday and ask for a settlement figure, they tell me that it's is £37,516.71 That's over £10,000 more than I borrowed. I call the broker back immediately and he says don't worry there is a mistake and that he'll call them and sort it out. I get a phonecall back today saying, ''sorry! you signed an unregulated agreement and they are charging you 5 years interest''. I am shocked, seriously just dumbfounded that this can happen? I know i am partly to blame here for not picking this up when i looked through the paperwork but it just seems illegal to be able to do this? Even If I keep the car, it's a depreciating asset so i'll be left with that £11.5k to pay on trade in?? Is there anything I can do? I feel like i've just got my life straight with the CCJ's and now this has smashed me in the face. Any advice would be appreciated!