CCJ confusion

[sequenci]

Statutory interest cannot be added to personal overdrafts or loans which are regulated by the consumer credit act; the law doesn't allow it. This really needs to be challenged.

[Luminol]

Thanks Sequenci, How's my letter sound? Don't want a brush off and want them to take this seriously, I mean haven't they broken the law by ignoring the judges decision.

[sequenci]

Hello there. That looks pretty good to me, it's to the point.

 

If they come back to you and state that they are claiming statutory interest this can be challenged as the law is very clear that this cannot be claimed for debts which have arrisen from a CCA regulated agreement (such as loans and the vast majority of personal overdrafts). Send it off and see what they come back with, if they say it is for statutory interest then we will have 'em!

[Luminol]

Great will do I'll post in tomorrow

[debbbbsy]

Hi, Luminol

 

If you want to find out exactly whats been going on, I'm going to explain what you should do.

 

Send Your SAR to

The Data Protection Manager, Retail Regulatory Risk, 2nd Floor, Business House B, RBS Gogarburn, PO Box 1000, Edinburgh. EH12 1HQ.

.

Enclose your £10 postal order.

 

What I also need you to do is send a copy of this to The Recovery Manager, CMS, Telford. But you must attach a letter directly to him. I want you to include the following:-

I am aware that you hold on me a "Diary Event History". I specifically request a copy of this.

Also, it has been brought to my attention that customers whose accounts are in default, have "Router Accounts". If such accounts have been set up in my name, you have a legal obligation to provide me with data relevant to such accounts,when the accounts were set up and details of any monies owing to these accounts.

 

Wait to see what comes back. The Diary event history will reveal alot about what has been going on.It is a record all correspondence between you, the bank & the solicitor.

Router accounts are set up as an internal[possible illegal] way of managing accounts. They accrue interest, when no agreement exists for your other accounts which allows them to.

Take a look at

 

walton v rbos

Pauls case highlights PJI, & RBS dirty tactics.

 

DandD V RBS

This thread shows what "horrors" a SAR can throw up. Especially a debt that goes back a long way.

 

want to get the ball rolling before the next £500.00 gets added

Don't worry about this, they cannot add PJI.You will challenge this when you have all the data. We got statements going back to 1991, if they have them they will supply them, & when they do you can challenge all the charges & interest.

My only concern is that your payments are so low, that you are opening a can of worms. Be careful.The RBS do not play fair.

 

Debs

[Luminol]

Thanks Debs,

 

My initial concern is to get the interest stopped then I have a fixed amount to deal with, possible reclaimation of the charges I will think about, I intend to SAR them once they stop the interest (as per Court Judgement), the can of worms thing well, I don't have much money, officially I have no income because my OH works and I stay at home with my little girl, so they can't have what I don't have and Bankruptcy has been a consideration for awhile.

 

I'm going to see how it goes and keep my fingers crossed, but thanks for the advice, I appreciate everyones help greatly.

[Luminol]

After reading the suggested threads, I have to say, I'm a little concerned, so heres the letter I'm going to send:

 

The Recovery Manager

Credit Management Services

Kendal Court

Ironmasters Way

Telford

TF3 4DT

20/01/2009

Dear Sir/Madam

Reference:

Thank you for the statement I recently received from you relating to account no xxxx. This statement has brought to my attention a discrepancy relating to the interest applied to this account, as you are well aware the account in question is subject to a County Court Judgment.

The details of the judgment stated that 'The court has therefore decided the rate at which you should pay. You must pay the claimant £14647.87 for debt (and interest to the date of Judgment) and £250.00 costs'.

In light of the recent and only statement I have received and after seeking advice and clarification regarding the terms of the County Court Ruling, it seems clear to me that you are still adding a substantial amount of Interest to this account regardless of the court ruling and that the amount owing is now £19584.72.

I would be grateful if you can advise me of your position in relation the account.

Yours Faithfully

[debbbbsy]

looks good to me.

see what their response is & take it from there.

[it will probably be the standard RBS response, "The interest added is for internal accounting purposes only".They do this so they can artificially & illegally inflate there balance sheet].

You say you have not recieved any other statements before this, this is normal with RBS, so you don't know whats going on. I wonder why they sent it !

 

 

 

Debs

[Luminol]

Well I had a letter previous to this which from memory said something like ' we now because of some regulation or another have to keep you upto date with stuff'? lol it was something like that.

[MARTIN3030]

Looks fine Lumi,and Sequenci makes good points in post 28.Not really worth trying to speculate until they respond to this.

The points made by debbbbsy are also interesting-its probably worth a tenner to do that-but you MUST specify exactly what it is that you want them to handover to you.

[Luminol]

thx Martin, I'm going to take it a step at a time, wait for this reply and see what they say and the RBS's response may help me understand what to specify in the SAR request.

[Luminol]

ok its been way over a week, so how long shall I give them to advise me of thier position?

[rory32]

RBS aren't the fastest to respond to anything. They actually have 8 weeks to resolve complaints.

[Luminol]

Rory am I in the right with this, post Judgement Interest is a no no?

[rory32]

In short yes. You are correct.

 

Statutory Interest is regulated according to the The late Payment of Contractual Debts (Interest) Act 1998

 

The late payment of Contractual Debts (Interest) Act 1998 covers contracts by which a person does any, or any combination, of the things mentioned in subsection (3) for a consideration that is (or includes) a money consideration.

 

 

(3) Those things are— (a) transferring or agreeing to transfer to another the property in goods;

 

(b) bailing or agreeing to bail goods to another by way of hire or, in Scotland, hiring or agreeing to hire goods to another; and

 

© agreeing to carry out a service

 

 

 

It does not cover:

 

* contract of service or apprenticeship

* a consumer credit agreement;

* a contract intended to operate by way of mortgage, pledge, charge or other security

 

Or, under section 2, any situation where an act of parliament convers a right to another form of interest OR a right to demand interest on it is exercised.

 

There is also a right to interest under the County Courts Act, BUT, again, this does not extend to consumer credit agreements Results within legislation - Statute Law Database

[Luminol]

Hi all

 

Recieved a response today from RBoS, it is as follows,

 

Dear Luminol

 

Account xxxxxxxxxx,xxxxxxxxxx,xxxxxxxxxx

 

We write in response to your letter dated xx/xx/xx

 

The balance currently outstanding on your account is £14807.87. This is the Judegement of £14897.87 less payments of £90.80. Since the Judgement interest has been frozen and not applied to the account.

 

We apologise if the statement which has now been sent under changes to the Consumner Credit Act has caused confusion.

 

Our staff are available to take your call blah blah blah...

 

Yours Sincerely

 

Recover Manager.

 

So this seems straight forward, although I have no idea why they have to send statements showing what they may have had in interest if it hadnt gone to court, is this for internal audits?

 

Any comments would be welcome.

 

Thanks Lumi

[Luminol]

Bump

[Luminol]

Hey all, So Im gonna presume that this is a open and shut case as it were, and that Im okay with nothing to worry about, thanks for all your help (again).

 

Lumi

[rory32]

Hey all, So Im gonna presume that this is a open and shut case as it were, and that Im okay with nothing to worry about,

Yes. You certainly have nothing to worry about as they have confirmed in their letter to you and no interest is being applied.

 

So this seems straight forward, although I have no idea why they have to send statements showing what they may have had in interest if it hadnt gone to court, is this for internal audits?

Under the changes in the Act they need to send you statements. It would appear that they have just made an error in the statements they have supplied you which is where the confusion arose. The statements are automatically generated which is probably the reason for the error.

[paulwlton]

It seems that RBS are using your accounts to inflate their book debt.

 

Paul

[Luminol]

Thanks Paul

 

Hopefully the SAR will shed more light on this, Is there a way to stop them doing this?

 

Lumi

[paulwlton]

Thanks Paul

 

Hopefully the SAR will shed more light on this, Is there a way to stop them doing this?

 

Lumi

 

Don't worry, we'll sort it.

 

What was the balance of your accounts at transfer date?

 

PW

[Luminol]

Transfer to Triton? or when i defaulted?

[paulwlton]

Transfer to Triton? or when i defaulted?

 

Your accounts were probably transfered to CMS Telford, Triton are their in house DCA.

[Luminol]

Yes initially they went to Telford, then it was moved to Triton.

 

I have a letter from CMS dated 03/02/09 stating interest frozen since judgment and that I owe £14807.07, it explains, Judgement was for £14897.87, less payments made of £90.80.

 

Statement dated 2009

 

Loan Opening Balance: £19968.11

Outstanding Arrears : £14547.45

 

*then lists details of my payments of £2.00 x 6 = £12.00

*the lists interest debits. as follows:

 

29/06/2009 - £372.27

29/09/2009 - £383.36

 

 

 

Loan Balance (Closing Balance as at 16/11/2009) £20711.74

Amount req to satisy arrears, as at 16/11/2009 £15984.57

 

So just looking at this, none of the figures add up at all, one letter I have when I complained stated no interest since judgement, but all the statements show plenty.