Jump to content

Search the Community

Showing results for tags 'secured'.



More search options

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • The Consumer Forums: The Mall
    • Welcome to the Consumer Forums
    • FAQs
    • Forum Rules - Please read before posting
    • Consumer Forums website - Post Your Questions & Suggestions about this site
    • Campaign
    • Helpful Organisations
  • CAG Community centre
    • CAG Community Centre Subforums:-
  • Consumer TV and Radio Listings
    • Consumer TV and Radio Listings
  • CAG Library - you need to register to access the CAG library
    • CAG library Subforums
  • Banks, Loans & Credit
    • Bank and Finance Subforums:
    • Other Institutions
  • Retail and Non-retail Goods and Services
  • Work, Social and Community
  • Debt problems - including homes/ mortgages, PayDay Loans
  • Motoring
  • Legal Forums
  • Latest Consumer News

Blogs

  • A Say in the Life of .....
  • Debt Diaries

Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Joined

  • Start

    End


Group


About Me


Quit Date

Between and

Cigarettes Per Day


Cost Per Day


Location

Found 135 results

  1. 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.
  2. 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...
  3. Hi all, I am hoping someone can offer me some advice please as i am a little confused by all this. I took out a secured loan in 2006 with Welcome Finance and thereafter got into financial difficulty with the loan going into arrears. A company called Experito Credite then got in touch to set up a payment plan, which I did paying them £50 a month. After this, the loan was then transferred over to Lowells who i continued with the same payment of £50 a month. However, on looking at my recent Lowells statement, it claims a company called Sigma Financial Group are the original creditors. I have never heard of this company and i cant find any link on the net between them and Welcome Finance. I obtained a copy of my deeds and Welcome Finance are listed as having a charge but there is no mention of any of these other companies. I am looking to sell the property and possibly get a reduced settlement. Having spoken to CAB, they advised me to do a SAR in the first instance, to check for PPI or charges. Only now i'm unsure who the SAR should go to, Welcome, Lowells or SIGMA? I haven't dealt with Welcome in over 7 years now so would they even have this information? Any help would be greatly appreciated. Thanks
  4. Hi Has anybody heard of Alev Uk secured credit ltd. Can’t find a great deal about them. It’s regarding a shortfall on the mortgage after a repossession. Never had a mortgage with them, I’m presume they have bought an old debt. We have never had contact with the lender since repossession 10 years ago! Any help would be appreciated.
  5. Hi, myself and my wife have a secured loan with welcome finance but due to financial difficulty and other issues we have had with Welcome we have not been paying it since 2010. We have now received letters to say that the debt has now been sold to Cabot and they now hold all rights to the account. They have appointed Marlin as their managing agent. Does this mean that this account is no longer a secured loan? If it is not, does this mean that welcome never executed the loan correctly in the first place because they could have just gone for a repossession. Forgot to add, this account does not appear on our credit file and has not for over a year.
  6. Hi All, I'm not sure if I have a problem or not really! I keep getting calls from people asking about our loan with First plus and whether it had PPI on it, with all of them I have told them that there is no PPI showing on my agreement and that was the end of it, but today someone called fom FusionConsumer solutions and told me that although it does not show on the agreement First plus may have been adding it into our payments!! She asked when I took the loan out which was approx 2006 for £100,000 and what our payments were, then she worked out that we were paying approx £500 per month more than we should be and over the 25 years would be paying back about £270,000!! I don't know what to do now, if it has no PPI on the agreement how am I supposed to claim it back? Is what the lady from Fusion told me correct? Surely it would be totally illegal to be incluing something like PPI without even telling me!? Has anyone else had this with First plus? Any advise greatly appreciated as usual!! Thanks
  7. Weve had a telephone call from Blackhorse today to say we can cancel our PPI but our repayments on the loan wont go down due to a previous claim we made. Is this correct??? Hadituptohere
  8. Took out a secured £12k loan in October 2007 over a 10 year period. Please note I didn't want to take out the loan but had no choice if I wanted a quiet life as at the time I was in a controlled marriage ..mostly mental with some physical abuse resulting depression, anxiety and panic attacks . The 10 year loan gives 120 months worth of payments out of these 120 months I made 107 payments on time and 13 missed payments these were down to my so called husband taking the money out of my wages in the bank to pay loan and saying would put back to pay but never did ... with my depression and my husband controlling my money I worked but had to ask him if I needed money all debts he ran up were in my name and l developed a serious problem with opening letters as they were always for his debt and I didn't have the money to pay them as all my wages had to stay in bank... I have unopened letters hidden around my home going back at least 15 years ... Getting back to the lovely swift advances due to not opening letters I found out that swift had taken me to court for the missed payments and because I had no idea they had been given the repossession order . . My daughter for whatever reason as she never ever had before opened a letter last Tuesday 3rd April from a company called R & K and it said they would be coming to our home on the 11th April which was yesterday to remove us and change locks ... I immediately contacted this company and they told me I needed to contact swift as they were only ones who could tell them not to come out on the 11th ... on contacting swift they said my loan had came to it's 10 year end on October last year but I had the 13 missed payments as arrears which when I add them up come to £2,600, when swift add them up it comes to £18k and they wanted that as a one off payment to stop taking my home ... in the past few days I asked them to consider me paying £300 A month to clear the ridiculous amount and I also asked if they would reduce the amount to a more reasonable amount and I would see if I could get the funds from family and friends and make a one off payment they said they would have to ask management/directors the following morning and get back to me later that day which was Monday this week ... I spoke to them after work on Monday and they advised I had been turned down on both of my requests and only option was paying the full £18k .. .they also informed me that they had postponed the date to take the house from 11th April to the 14th May to give me time to try and sort out the payment ... I also found out that they had actually turned up at my house in February to take house but my dog was in house barking so they cancelled it and charged me over a £100 for that ... my daughter was home that day she also has mental health problems worse than mine having had a mental breakdown at age 13 due to her father's behaviour ... the day they came out bearing in mind I didn't know anything about this happening due to unopened letters my daughter rang me frantic at work saying a van was outside house and men in garden outside our home... I asked her for name on van and googled it but it didn't give me any idea what it was about ... I am now taking on the fight of my life to save our home as my daughter sees this as her safe place since her breakdown and she is now starting to show signs of shutting down again and I can't let that happen to her... any advice woukd be most appreciated .. . Thank you in advance
  9. Hi All, I'm a newbie to the site and I hope i'm in the correct forum. I would be very grateful for any advice or guidance from those of you with experience of similar issues. We took a loan with Welcome Finance in 2007 secured against our home for £17,000. Over the years they have changed companies and are now known as Prime Credit. We have taken steps to sell our home and have accepted an offer. It is only now that we are in a position where we are looking for a new mortgage that we have realised the secured loan will create difficulties. We have paid £234 per month for almost 10 years totalling around £28K. When we finish the loan with Prime Credit in another 5 years we will have paid in excess of £40k Can anyone offer some advice on the best way to approach this with the Loan Company please. We have just realised that if we have to settle the loan first we will not have the deposit needed to move house. We have been improving our credit scores over the past few years and are bordering on achieving Good. Would it be advisable to apply for an unsecured loan to pay this off or would this also affect our mortgage application. We are so confused about the best way to deal with this Many thanks in advance for any help you may be able to give.
  10. Same old story I'm afraid..... We had a loan via GE Money/Home lending for £5500 and had only managed to make a few payments on the account when i lost my job. We spoke to GE and advised them of the situation, that the problems were only temporary and that we would make arrangements for the arrears to be cleared as soon as possible. The call taker insisted we make a payment arrangement but as we were living off thin air I was unable to do this. I offered £5 a month token payment which was refused and advised i couldnt do anymore at the present time. The debt was subsequently sold to Link Financial and shortly after recieving a letter from them we received a very rude call from someone at link who advised me "We own the debt, you owe us £6600 (or thereabouts) can you make full payment now?" I advised that I didnt have £6600 knocking about and that we would be able to make a payment offer but was just advised "we'll be sending you court forms" and the call was ended by them. Duly the court forms arrived and unfortunately due to fighting repossession we did not attend the hearing. CCJ granted and now they are going for charging order THIS FRIDAY 12th (in a court 60 miles from our nearest court!) . How can i avoid a charging order? Postpone the hearing?? It is in our mortgage terms that if someone applies for second charge they can cancel the mortgage/sell our house!!! I have just started a new job and could not get the time off to attend. Any payment would have to be small due to arrears on water/elec/gas etc and we do not currently have the money to pay court fees to have set aside???
  11. Hi I took out a secured loan in 2003 through a broker called freedom finance who are no longer trading , PPI was added to the loan . I missed a couple of payments when the acct was passed to GE money , but always made up the missed payments over 2 months by paying extra on the contractual payments . The charges from the arrears charges have accrued interest and now stand at £1700. The loan was passed to Elderbridge last year and I have continued to pay the CMI , and when I could made a extra payment to reduce the arrears. I managed to dig out the contract and was surprised to see the loan payments end this May but when I rang Elderbridge i was informed the outstanding balance is £2723 this includes the principle balance of £982 the remaining is the historic charges and interest from GE Money but Elderbridge do not charge interest on historic charges. Is it worth me doing a SAR request and look at the reclaiming the mortgage charges ? I contacted the FOS about the PPI , but was advised as the broker and Igroup is no longer trading , PPI claim would not be successful . Any help with next steps would be appreciated .
  12. Hi This is the second post I have going at the moment but I really need to clarify. Back in 2009 I took a second mortgage. I had a fixed rate for 4 years then went to tracker. After 4 yrs and credit crunch I said to the lender I would like to change my rate to be told I couldn't as it was a secured loan not a mortgage. I stated no its a second mortgage and all my paperwork refers to it as a mortgage. I now also own my own home Mortgage free (still own and selling the property with the second mortg,) in my paperwork it states I can transfer the loan onto the new property. I called them (The company who now own the second mortgage as it was sold which was in term and conditions apparently) I was told because I don't have a mortgage on the home I live in now I cant transfer it. They also say its a loan not a mortgage. They also told me it was covered by European Mortgage which I said it was under £25k so covered by CCA. I complained they agreed they were giving wrong information but I notice their paperwork no longer refer to it as a mortgage but loan. What can I do Is it a Mortgage or a loan. If its a Mortgage then I could have reduced the interest rate years ago. Are they pulling a fast one. The settlement figure means I am just in neg equity
  13. Hi, I am renting a flat with underground parking space one day found four Parking Charge Notices attached to windscreen of my car, all issued within a period of 5 days. They total to £400, or £240 if paid within 14 days. Later I found out that less than one month ago the enforcement company has started issuing new parking permits and have given 3 weeks grace period to start using new permits. They have informed our landlord that they are doing this but haven't inform us. At the same time, they claim that they have delivered by hand a letter which contained a new parking permit directly to my address. This letter has been addressed to "Resident/Occupier". Neither myself nor my wife have seen it, but I cannot entirely rule out that she has thrown it away as junk. Unfortunately my landlord hasn't informed me of any changes in parking rules and i wasn't looking for any important letters. The enforcement company insist that they have video evidence of the letter being delivered. My car has been parked in the correct bay which belongs to the same landlord as flat. At the time when I was fined, there was an unexpired parking permit of old type attached to the windscreen of my car. My appeals have been rejected on the following grounds: 1) They hand delivered parking permits in "plain envelope fully addressed to the resident/occupier" 2) They placed "new signage" in car parks which "provide clear information about parking rules". For clarity, this signage is not materially different from the previous one, and also it doesn't state that old permits are being replaced with new ones, making old ones void from certain date. I have few questions: - Is it lawful for them to issue park permits without addressing them either to landlord or tenant? Did I have to read a letter addressed to "The Occupier"? - Where can I get help? Thanks
  14. Hi Folks, I hope someone can provide me with some helpful advice! Several years ago my husband passed away after a long illness with cancer. I am now in a position where my daughter and I would like to move home. Cut a long story short about how I found out but it appears my husband took a loan out with Welcome Finance some years ago (approx. 11 years ago) which was somehow without me knowing secured on our property (joint names, now in my sole now since he died). At the time he would of been in full time employment. I have since found in his paperwork some information relating to this and where it says homeowner signature he has signed my first initial and married surname. At the time we would not have been married. I have only ever had one letter from anyone who he owed this much money to and on the letter it said £27k. I returned it with a letter and copy of his death certificate and heard nothing since from welcome or anyone else at all in relation to this on investigating further the charge is under the name of Progressive Financial. I assume this is their parent company. The paperwork I have found suggests the loan was for £10k. The charge is obviously considerably more, I presume this is interest. I have loads of questions obviously. THe first one being is this a legal charge since I was joint owner and didn't sign the loan agreement at all. Secondly, if it does turn out its legal and the charge is on the property can I get it taken off now he has died and the property is in my sole name? If not, then the paperwork I have found suggests he took out a hefty payment protection and critical illness cover which should have covered him for when he left work surely and subsequently passed away. can find no evidence of him having made any payments at all towards this loan and never have any correspondence from them. It was also not on his credit file nor mine. I'm worried about contacting them to ask about everything as feel it may open a can of worms and they will want their money and/or repossess force me to sell my home. Can they do that? What would happen if they did? Bit of a strange one but obviously if i'm going to sell my home this will make a big difference to the amount of equity I have in it and my ability to move! Any advice gratefully received!! Thanks in advance! Shelley
  15. Hi Took out a Welcome Finance secured loan in November 2007 for £20k I have no defaults, pay £386.53 a month. My partner is about to be made redundant and was wondering about offering an early settlement figure. This is now under Prime Credit 5 since the demise of Welcome Finance. I know in my last statement in 2016 the remaining balance was £19719 it has been repaid in theory several times over with their extortionate charges. Is it worth pursuing early settlement for this with partner being made redundant? Thank you
  16. Hello I am hoping for advice as after finiding this the other day when i asked how much i owe it has threatend to consume me now and will leave me with no pension. loan started in 2008 shortly after i had a child with a disabling condition and work was not to be i had enormous arrears and they have taken a warrant out 3/4 times to try take the house the fees are as follows collections telephone charges @ 30.00 - 50.00 a time letters @ 35.00 a time collection instruction 250.00 buildings insurance £791.00/362/510/600/170/150/165/80/80/78,,,,this varied so much and for the most i had sent in a copy ...of my own plus ge money also do this so im triple covered... professional fees £86.25 dishonoured receipts @ 35.00 each court hearing fee £215 court fee £150 Posession proceedings £130 court preparation fee £190 collection visit £110 telephone collections £35 a time hmpg £110 monthly charge arrears @42.00 monthly charge arrears @46 visit cost £100 posession warrant 18.00 legal costs 120legal costs 230 warrant for reposession again 16.00 legal costs 230.00 arrears charges are now £50 these all come to the grand total of £6562.59 I have paid them to date £18,621.54 in payments start of loan was £12k @ 13.9% settlement figure is £21,276.78 today (of which i was told but they did not put down £7k is the actual amount left without the charges....) i think they said 144 months left of agony to go..... I cannot be tied to these unhelpfull liars for another ten years who every month remind me they can get a posession order tomorrow ...and tomorrow...and tomorrow ...i have been sick ive had to home school my youngest then had my mum have cancer and die...this is now breaking me can anyone help please i need to sort this out to stop them bullying me? Thank you
  17. About 25 years ago I arranged a 1st mortgage on my home to fund a new business. I paid interest on the debt only and the principal would have been repaid at a later date from either the proceeds of a life assurance policy or some kind of pension policy that I took out in conjunction with the loan. Two years later(early nineties) the recession hit, my business failed along with my marriage I was left in a property with considerable negative equity. I decided to hand back the house keys to the mortgagor and left to start a new life abroad. I have no idea whether a CCJ was taken out against me. In the intervening years I have not been in touch with the mortgagors, nor they with me... until now. An insurance company has sent me two letters (I have since returned to the UK), one via the Goverment's tracing service and the second direct to me, claiming that I have a policy with them and asking me to provide personal details eg d.o.b, N I number etc and confirm my contact details and supply previous addresses. Nothing is mentioned about an outstanding debt. Since I have mislaid all documentation regarding the original mortgage agreement I cannot be certain but I am fairly sure that this is the same insurance company that was originally party to the mortgage. By contacting them and providing them with the details they require am I leaving myself open to unwittingly reviving a dormant debt that is presently statute barred. Thanks for any advice that you can provide.
  18. Can anyone advise as to why the following as I'm baffled �� Took out a secured loan back in 2005 with Barclays plc (firstplus) unbeknown to me it was secured on my house (I was young an niave at the time) only found out it was a second mortgage when I sold my house and solicitors advised of the 2nd mortgage �� What I'm querying is why I signed an agreement in 2005 with Barclays plc on the loan agreement then in 2008 I was forced to sign another agreement for the same loan but this time the headed document was with Barclaycard? The interest rate was higher. First agreement for a loan of 9500 with interest of 5920 sign 2005 9.2% interest Then the 2nd agreement loan agreement of £7299 with interest of 5200 signed 2008 10.48% interest I was forced to sign the second agreement as apparently regulations had changed. I paid this loan off in 2010 but something has always nagged me to say...something isn't right hence I've kept all paperwork. I can't see anything about PPI on either agreement. Both agreement wording the same apart from company name different, 2005 Barclays plc and 2008 Barclsycard.. Can anyone offer any advice as to why I was forced to sign another agreement or have the baliffs sent to my house? (Even though I'd never been in arrears)
  19. This post is relevant to all customers who have a secured loan with Barclays Firstplus. I know secured loans are a dirty word but a lot of people have them rightly or wrongly. Last month, a customer of Firstplus has had a judge rule that the interest rate variation clause within their agreement was unfair, citing 5(1) of the Unfair Terms in Consumer Contract Regulations. Specifically this states Unfair Terms 5. (1) A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations arising under the contract, to the detriment of the consumer. The judge ruled that the contract could continue but the right the vary the interest rate was removed, reverting the loan to a fixed rate as at inception. As it stands Barclays have not appealed the decision, and as this decision has been made in a lower court it is not precedent setting. Is it cynical to opine this is why no appeal has been forthcoming????? A group of us have been battling the regulators for years arguing this very point, i.e. that the right to vary has been misused and is fundamentally unfair. The OFT presumably found fault back in 2010 as they issued a CCA section 33a reprimand, however legally they have no retrospective impact, and amazingly the OFT wont tell customers what exactly the reprimand was for, and I quote, "because it would harm the commercial interests of Barclays if they did". Long story, not going there with that one. What customers need to do now is ask Firstplus and the regulators what they intend to do about this legal ruling. The clause has now been ruled unfair. There are over 50,000 customers with the exact same clause. ALL are paying more than they were at inception. An example of the potential financial impact. My APR started at 8.4%, it is now 9.2%. A retrospective realignment to a fixed rate of 8.4% would reduce my liability by £8,000. I have drafted a note below if anyone needs to cut and paste, but whether you use this, or draft your own, it is in your own interest to challenge the ongoing profiteering. The FOS, the OFT and the FCA have all received a copy of the court judgement, however as it stands none will commit to doing anything about it. Something like this should do. Please send to: Firstplus - customercare@firstplus.co.uk THE FINANCIAL OMBUDSMAN SERVICE, complaint.info@financial-ombudsman.org.uk THE OFFICE OF FAIR TRADING, enquiries@oft.gsi.gov.uk THE FINANCIAL CONDUCT AUTHORITY. consumer.queries@fca.org.uk -------------------------- THIS NOTE IS SENT TO FIRSTPLUS, THE FINANCIAL OMBUDSMAN SERVICE, THE OFFICE OF FAIR TRADING, & THE FINANCIAL CONDUCT AUTHORITY I am writing as a dissatisfied First Plus customer. For some years now, many customers have been complaining that the interest rate variation clause(s) in First Plus secured loan agreements is unfair. The result being that all customers, including myself, are being forced to repay significantly more than could reasonably be expected when the use of their widely drawn interest rate clause is applied in an imbalanced and unfair manner. Last month, a fellow First Plus customer had a court rule that their interest rate variation clause is unfair under 5(1) of the Unfair Terms in Consumer Contract Regulations. The variation clause in question is the same clause as the one in the majority of First Plus customers agreements - namely clause 7. The key wording that is significant is as follows: "We may from time to time vary our interest rate. We may increase or decrease our interest rate to reflect a change which has occurred, or which we reasonably expect to occur in interest rates generally or to ensure that our business is carried on prudently, efficiently and competitively" [DELETE THIS NEXT BIT IF NOT RELEVANT TO YOU There is a variation of this clause that includes a reference to FHBR: "The interest rate on your account will not in any twelve month period, vary by more than twice the variation in the Finance House Base Rate published by the Finance and Leasing Association during the same period. If for any reason, the Finance and Leasing Association ceases to publish the Finance House Base Rate we may refer the variation in our interest rates to any other Base Rate which in our reasonable opinion best matches that rate." ] The key elements of the clause are detailed as above and the declaration that the wording is unfair should apply to all customers, including me. I understand a copy of the court judgement has already been sent to you. As you will have seen the judge has ruled that the contract can continue. The understanding is that the declaration of the clause being unfair would strike the clause from the contract thus disabling the ability of the lender to vary the rate with the loan reverting to the incepted APR and the loan being restructured and reset accordingly. Can Firstplus please advise whether or not it is your intention to retrospectively revert my loan to the inception rate APR and apply it as a fixed rate going forward? Can the OFT, FCA and FOS please advise me what action it intends to take against Firstplus, as I continue to suffer financially from the penal nature of the application by First Plus of their interest variation clause, which I now note to be legally unfair. I would respectfully ask that you provide a response to myself within 10 working days. Regards
  20. Thanks for the info. I have a letter from them about a 16k debt. They are threatening to repossess my house. Should I follow the instructions above in regards to a SARS and the CCA Request? Should I refrain from calling them? Thanks
  21. Hi All... First off apologies if I am asking something that has been answered elsewhere... Truth is I'm in a massive hole and trying to find anyway out (not just with welcome lol) Long story short... Took at a 3rd charge loan with welcome about 12 years ago...it was a struggle from the off... About 3 years in welcome offered us the chance to resign to extend the length of the loan and reduce the payments which we did... Split up with the wife who remained in the home about 6 years ago. For the past 5 years no payment have been made to welcome. Current balance is about £29k. My initial question is that they have never really chased for the monthly payments....the only contact we have from them is a yearly statement and that's it. The debt doesn't appear on my credit file however there is a charge at land registry...does anyone know why this might be the case that they are not chasing us for such a long period of time? House in massive neg eq so am desperate for any ways out Thanks all
  22. Hi Hope someone can help me here.... In 2004 I took out a secured home loan (ge money aka I group) for £7500. Single premium PPI was added to this for £1200 Also a broker fee was added £187 So now loan is £8887 I have repaid the whole loan as I sold the property in 2007 I never used the PPI and felt under pressure to have it as needed the loan at the time. Now I have ALL the original paperwork and also the FULL statements from throughout the loan. In 2011 I tried to reclaim the PPI via a 'claims company' who after four mths told me I had no case as the loan was sold by a broker (who now not trading) and the loan provider is not liable. This was the official stance from the loan provider. Is this right?????? The claims co closed my case. I was not charged any fee. But I hear many bad stori:lol:es of these claims companies as some are quite incompetent too. So now I want to try and claim again but without the claims companies. On my original paperwork the Signed Credit Agreement on an I Group letterhead (I Group is the loan provider) it clearly shows Both the loan and PPI so they were tied together. Do I Have A Case??? So where do I start?? What do I write?? Could FOS do anything?? Any advice would be much appreciated.
  23. I would appreciate help with the following: Name of the Claimant - Cabot Financial (UK) Ltd Date of issue – 06/02/2017 AOS - 24/02/17 Defence to be submitted - 10/03/17 Particulars of claim: 1. By agreement(s) entered into between the Claimant and Defendant, the Defendant has failed to pay the sum of £23k. The Claimant has requested payment but the Defendant has failed to pay the full sum demanded. 2.The Claimant claims the sum of £23k and interest under s.69 of the County Courts Act 1984 at a rate of 8% per annum from 03/02/2017 until judgement or sooner payment. 3.Costs. The claim does not include issues under the Human Rights Act 1998. 4.The Claimant has complied with Sections III and IV of Practice Direction PreAction Conduct of the Civil Procedure Rules. What is the value of the claim? £24k Is the claim for a current account (Overdraft) or credit/loan account or mobile phone account? Secured Loan (3rd charge). Joint with wife - 2 separate claim forms received. When did you enter into the original agreement before or after 2007? Nov 2008 Has the claim been issued by the original creditor or was the account assigned and it is the Debt purchaser who has issued the claim.- Debt Purchaser Were you aware the account had been assigned – did you receive a Notice of Assignment? Yes Did you receive a Default Notice from the original creditor? Not certain Have you been receiving statutory notices headed “Notice of Default sums” – at least once a year ? No Why did you cease payments? Financial circumstances What was the date of your last payment? Not sure when original payments ceased. Arrangement set up with previous solicitor Nov 2014 with payments ceasing early 2016?? when Ascent took over from previous solicitors Was there a dispute with the original creditor that remains unresolved? No Did you communicate any financial problems to the original creditor and make any attempt to enter into a debt management plan? No Couple of initial questions/thoughts: Can we submit a CCA request as this is a secured loan and was taken out in Nov 2008? Should we be sending a CPR 31.4 request? The POC are general and vague Is there any mileage in arguing as well that the original loan was missold and affordability was not assessed appropriately? Any initial help would be much appreciated Thanks CBBlue
  24. I previously sent a CCA request as I could not locate the original that was taken out in 2001. I received the attached edited copy but is I am not sure if this is correct ? I then sent off an SAR and again received the same amongst details submitted. Am I missing anything does anyone know ? I've checked the forum for BH credit agreement examples but all seem to look different to mine. Just one other question, should BH be sending me annual statements of some sort ? Thank-you for looking.
  25. Previous complaint with Skye Loans / Capita rejected by FOS. Skye / FOS advised that disputed amount transferred by BH, in June 2015. Submitted SAR to BH. Last overdue amount from BH different to opening arrears balance stated by Skye. Confirmed by details received as per SAR. Raised complaint with BH who responded that all details provided in which they have. Escalated complaint to FOS in which I have now received their brief and inconclusive findings. They have said that the disputed transferred arrears amount needs to be raised with Skye Loans???? I have until 30th March 2017 to respond and I have requested an extension due to the investigators comments. I am somewhat concerned as on past experience whenever I have replied to the investigator to reconsider on evidence provided, it has been ignored and had to refer to an Ombudsman. Who then agrees with original findings and is rejected. Is there anything else that I can do before having to go to the Ombudsman? Can I request that the investigator is changed or referred to a more senior level? This is totally frustrating and has not been fully investigated. I have evidence of last disputed arrears amount with BH before transfer (though BH cannot provide a full breakdown) and last CMI payments made with BH in which differ from increased arrears balance stated by Skye Loans. Any advice please.
×
×
  • Create New...