The Funding Corporation Small Claim Summons - joint loan - backdoor decree against OH - mine was dismissed - help

[pinky123]

Anyone dealt with the lovely people from the funding corporation?

I have had a constant headache from them, anyway can anyone take a look at the attached c/a, I would like to know if this looks enforceable and also can't get the figures to tie up, I have been told that as this the PPI and loan amounts are not shown seperately this is a unenforceable loan:

 

PPI (which is useless) £1860.00

Amount of credit £10000.00

Intereset £5073.00 @14.9 apr

 

5 years @ £282.23 per month

 

Also after months of letters and phonecalls regarding the PPI they finally agreed to cancel this but my payments only dropped by 81p per month, (no refund either)

 

Be grateful for any suggestion

[maybelline]

I think the PPI cannot be just added to the rest cos you would pay interest on that over the term and then it would not be the sum shown - I am sure others will come back also on this question but does look similar layout to others found unenforceable so hold on for reply:)

[pinky123]

Thanks for the reply!

 

Received a letter from The Funding Corporation yesterday, this is what they had to say:

 

"The Payment Protection Insurance you have purchased is classed as a linked transaction to you loan.

It cannot exist on the finance agreement without the principal loan. Consequently it is not a separate agreement and is not required to be detailed as such.

I can confirm the credit agreement you have signed is compliant with the CCA 1974".

 

 

Can someone help me, is this correct or are the F/C trying to fob me off AGAIN!!!!!!!!!!

[postggj]

The Funding Co

 

I Take It Then This Is A Car Loan

Please Confirm As Ive Never Seen A Personel Loan From Them

It Also Ays Credit Agreement Rather Then Hp Agreement

 

Is That All That Was Sent

 

Thats One Bad Agreement In My Eyes

 

WHEN DID YOU SIGN

 

2004/2005 WAS IT

 

 

THAT STATEMENT IS ROLLOCKS

 

MAYBE THE OFT WOULD LIKE TO HAVE A NOSE AT THAT

[pinky123]

Yes its a personal loan from May 2004 and that was all the paperwork that was sent, After weeks of sending letters regarding the enforceability of my agreement (the ppi and loan amount being lumped together and not shownseperately) The Funding Corporation have totally ignored all letters and emails and have failed to give me an answer, I have now stopped paying and now I get constant phonecalls to both mobile and home, (I have sent them 2 harrassment letters and 2 emails advising them to stop but they are relentless and still continue.

I have wrote numerous letters requesting answers to my query above but choose to ignore these.

I have now been sent a letter from Roman Recoveries (same address as The Funding Corporation), saying if I do not pay within 7 days they will:

 

Get a court order under the attachment of Earnings to deduct money from my salary

 

Send a baliff to take goods to the value.

 

HELP!! Can they actually do this, I have sent all letters recorded delivery and also taking times and dates of phonecalls.

[postggj]

No Panic Pinky

 

Seems You Have Done The Biz And Backed Them Into A Corner.

 

Send A Letter By Special/recorded Delievery To The Funding Co, Enclose A Copy To Roman Recoveries.

 

At The Top Of Your Letter Put

I Dont Acknowledged This Debt To You Or Any Other Company

 

Tell Them Any Actions By Roman, The Funding Co Is Responsable For There Actions As They Are Acting Under The Funding Co Instructions

 

Now Tell Them This Letter Is Subject To Your Complaints Procedure And Require A Response Within The Time Frame Perscribed By Law

 

You Now Consider This Account To Be In Dispute.

 

They Cant Put The Loan And Ppi Togeather, Period

How Was The Ppi Paid

Was It Front Loaded In One Go

Knowing This Lot, Would Not Surprise Me

 

Where Are The T&c

Any Default Notice

Statement Of Account

Statement Of Means Ref Ppi

 

Say If You Receive No Response Of Acknowledgement With In 14 Days A Complaint Will Be Sent To The Oft And Fos

 

 

Ill Drop In Later

 

Boy Have They &&^%* Up

 

Only A Court Can Do Those Things

 

Dca Do Not Have The Authority Of The Court

Though They Think They Do

 

Pure Dca Crap As Usual

 

Just Thinking About This To End It For You

 

Tell Them As Well As All The Other Things Mentioned You Consider The Account Unenforcable For This Reason

 

Ppi Was Added To The Loan, There By You Are Paying Interest On It,

The Ppi Is Not Part Of The Original Loan So The Agreement Is Crap Ref

 

Wilson V FCT

 

You Require Also On The Ppi Statement Of Means The Part In The T&c Telling You The Ppi Would Be Front Loaded And That You Would Be Paying Interest On It.

 

If They Maintain The Ppi Is A Linked Transaction With The Loan, Where Is You Sig As Consent For This And Are The Above A High Court Judge

 

 

Did You Ever Receive A Ppi Policy Doc And Who Are The Underwriters

 

I Ask This As The Funding Co Went Into Micky Mouse Car Finance And A Lepoard Never Changes Its Spots

[pinky123]

Thanks for all your good help!!!!!

 

Yes it was lumped together with my loan, been paying as one payment every month, I will write back to them and include the details you advised.

So the letter they sent saying that this is classed as a linked transaction to my loan is that another load of rubbish they are telling me?

[postggj]

the letter they sent you is bovine excrament

[pinky123]

They eventually did send me a leaflet on the PPI I had been sold which seemingly was bronze cover which is a life cover policy, which I would not have taken as myself and husband both have adequate life cover, I think the underwriters were AXA.

 

Cheers for all your help, feel more confident taking these cowboys on now.

[postggj]

pinky

 

what i am after is the statement of means

 

its a document pre check list o see if the insurance is sutable for you

 

for instance

 

you could be a sky diver who smokes 100 cigs a day

 

its a legal requirment

 

i know these so called car finance cretins never did these

 

if the insurance is part of the agreement, it calls the whole agreement into question if there is no statement of means

 

dont get me on to the undisclosed commission payments also

 

thats to come

[pinky123]

No nothing like that, the cheque was hand delivered by courier, and did not have time to read over paperwork before I signed, also I was self employed at the time, and they did not ask to see my accounts.

[postggj]

bingo

 

self employed

 

you have got them

 

thats another thing to put in your letter

 

its your lucky day

and another notch for me

 

well done

 

yes, changed my mind

 

also in your letter, ask them what commission payments were made ref the insurance

also a copy of the underwriting sheet

 

all that should give them some thing to think about

 

send recorded delievery

[nish40]

The agreement you have and the amount you pay is bang on the same as mine.

 

Totally unenforcable. I am on my way to court with the muppet corp, Barrister has gave me a 90% chance of winning, writing off £23,000 and claiming back up to £5900.

 

If you want to discuss it in detail, pm me as i dont want to put the details on a public forum until i win my case.

 

, and papers they sent, contradicted themselves.

[pinky123]

Thanks for the info Nish, this lot have gave me a permanent headache, constant phonecalls and threatening letters.

I eventually cancelled the PPI as it was totally useless, but did not get any new terms.

Still determind not to pay up until they give me what im looking for.

 

 

Cheers again

[diddydicky]

OH YES IT CAN

 

 

OH YES IT IS

 

OH NO IT ISNT

[pinky123]

Got a letter back today from the OFT saying that the F/C do have a licence and that they have noted my concerns and that they will be looked at but will not inform me of any outcomes as they do not act on behalf of individuals, any advice where I should turn next, also gettin worried not had a phonecall from F/C all week, makes me think their up to something.

[postggj]

no wories mate

 

you have them by the nuts

sit tight

[pinky123]

Hi Postggj, Just received a letter from the F/C today in response to the letter I sent them containing the advice you had advised previously, they quoted the following:

 

"The Credit Agreement is laid out correctly in line with Regulation 2(8)/(9) of the of the Consumer Credit (Agreements) Regulations 1983 (as amended). This requires to only show the principal heading and signature box.

 

I am unsure what you refer to in this point. Please provide clarification.

 

No commission payments were made. Our underwriting process is fully your automated and no underwriting sheets exists.

 

I trust this answers tyour questions and look forward to you bringing your account up to date".

 

 

ANY HELP WHAT SHOULD BE MY NEXT MOVE

 

 

CHEEERS XXXX

[postggj]

"The Credit Agreement is laid out correctly in line with Regulation 2(:cool:/(9) of the of the Consumer Credit (Agreements) Regulations 1983 (as amended). This requires to only show the principal heading and signature box.

 

I DONT KNOW WHY THEY HAVE BROUGHT THIS UP

MIGHT BE SOME THING I MISSED

ANY CAGGERS OUT THERE CARE TO COMMENT ON THAT STATEMENT

 

 

NO UNDERWRITING SHEETS

ROLLOCKS

 

WHO UNDERWRITES THE PPI POLICY, NORWICH UNION, MORE THAN ETC ETC

 

ILL DO A LETTER FOR YOU TO SEND TO THESE CRETINS

 

YOU ARE BEING GIVEN THE RUN A ROUND

[diddydicky]

 

i think that what they are trying to say is that on the documents they provide in response to your request they only have to show that the signature box is there on the form but that they are allowed to delelte your signature from it

[pinky123]

Thanks for the help guys!!!!

 

Do you think I should give in seems im fighting a losing battle!!!!!

 

Any Help Out There Would Be Greatly Appreaciated!!!!!!

[postggj]

Still With You Pinky

 

Planning Next Move

You Are Still In Pole Position On This

[pinky123]

HELP!!!!!!!! IS ANYONE OUT THERE?

 

Thanks, hear from you soon!!!!!

 

ANYONE GOT ANY IDEAS FOR MY NEXT STEP WITH THIS LOT.

 

ANY HELP GREATLY APPRECIATED!!!!!!!!!!!

 

http://i638.photobucket.com/albums/uu106/pinky0707_album/FCCA-1-1.jpg

 

 

I asked the F/C for a copy of my agreement as I dont know what I have done with my original, anyway got this through the post.

 

When you look at it the signatures appear to be different and in different places compared with the original that I posted earlier.

 

Is this the norm or has this lot got me going bonker, be glad of any help ou there.

[diddydicky]

HELP!!!!!!!! IS ANYONE OUT THERE?

 

i'm not that ofay on car loans or the question of whether ppi invlolves a multiple agreement but it you are desperate hit the triangle for help from the site team

[pinky123]

Thanx DD but I don't understand!!!!!!!!!!!!!!

 

xxxx