£30k loan CCJ - sold on - Paying £1PCM DCA sols want more

[OnMyWayOut]

I have a CCJ with a very low repayment on a large value debt. Does the creditor have any way of changing the repayment as they are asking me to provide proof of income via their solicitors?

 

I'm not even sure if they are aware at this point that there is a CCJ in place - they might just be looking to start legal action! It's hard to tell from the letter received as it might just be a standard threatogram.

[Baviaanuk]

Sounds similar to my own circumstances.

 

I have had a CCJ since 2006/7 and made all the payments I was requested, then out of the blue I have received a court document advising me that they are seeking a variation order.

 

It will backfire on them in this case as I am still not working and with another child on the way, family income will be greatly reduced.

[OnMyWayOut]

This has only come from the solicitor so far, asking me to fill in their I&E form with supporting proofs.

[Baviaanuk]

Just be aware, they could decide to go the variation route. I did not think that was possible until I received the letters.

[OnMyWayOut]

Does anyone know if I have to respond to their request for I&E with proof?

[OnMyWayOut]

Bump

[palomino]

No you don't.

 

They have no legal right to any of this information so you could (if you wanted to) reply that you will not be providing it except under direction of the court.

 

However going along with this request might make things easier in the long run. It is up to you to judge.

[OnMyWayOut]

Hi Palomino - thanks for the update. If they are aware that the CCJ is in place with a minimal payment order (£1/month), is there anything they can do to change my payment? Has the law changed to allow them to go for a charging order without the CCJ being defaulted on?

[OnMyWayOut]

If the creditor applies for a variance through the courts, am I expected to pay the costs of their application?

[Viscount Stair]

No, the law on charging orders has not changed. It was going to change but that is not being implemented.

 

You are not obliged to provide I&E information but they could apply for an oral examination, which means that you would have to attend court and provide the information there.

[OnMyWayOut]

Thanks VS. If I come to a new arrangement with them voluntarily, would it be binding? If my circumstances changed, interest rates go up, etc., would I be entitled to revert to the judgement amount without the risk of them treating it as a default so that they can go for a charging order?

[hammyhound]

is there anything they can do to change my payment? Has the law changed to allow them to go for a charging order without the CCJ being defaulted on?

 

No the law has not changed but it wont stop them trying as in my case which I won in the end but it was a long battle.

 

Did you find out if the solicitors knew there was a CCJ in place. My solicitors knew but even had the cheek to ask me for an I & E form. I would always go by what a court order says and not be dictated to by the solicitors.

 

HH

[OnMyWayOut]

Hi Hammy, it appears that they knew, hence the question at #11.

[hammyhound]

Sorry just read it again

 

I would just continue to pay what is on your instalment order until you receive anything from the court. Like everyone says if you haven't got it you can't pay it. The court will see that.

 

Dont offer anything to the claimants voluntarily. These things have a habit of coming back to haunt you.

 

BTW my instalment order is going to take me 40 years to pay and I think that is why the solicitors thought they would try for a CO so they could receive their money quicker when I either sold or keeled over.

 

HH

[Ell-enn]

Hi there, if you are making payments in accordance with the court order then they have no right to be asking you to confirm your income and expenditure. They will be trying to find out if your income has increased since the original CCJ and will then try to vary the order to ask for more. If your income has not changed then you have nothing to worry about.

 

If there is no change you can simply reply to them stating that there is no point in completing the form as your circumstances are still the same.

[OnMyWayOut]

Thanks guys. Just need to sort out my other issue with an assigned debt that has a charging order now!

[OnMyWayOut]

I have a CCJ from just over two years ago for a loan amounting to just over £30K. I have been paying the judgement amount of £1 per month but I am now being chased to provide I&E by the solicitors so they can get a bigger slice.

 

I don't want to put up too much info as yet, but it has made me look at the full details behind this.

 

The loan was taken out in 2004 for £25K online. I have a copy of the CCA and a DN, along with two termination notices (Formal Demands).

 

In September 06 I was provided with a DN for £500 arrears with 7 days to remedy.

 

In October 06 I received the first formal demand for 'the requested arrears of £800' and also advising the usual consequences and the details of a secured loan broker!

 

In November 06 I received the second FD for £1000 followed several months later by the claim form from Northampton which although I disputed the account charges of £150 the full amount was awarded plus costs, £60 higher than on the claim form.

 

The CCA quotes the following amounts:-

 

Loan Amount: £25K

PPI: £0

Amount of Credit: £25K

Total Charge for Credit: £9419.60

Total Amount Payable: £34419.60

APR: 6.9%

Payable by 120 installments of £286.83

 

I don't have a copy of the Ts & Cs at present.

 

Is there any chance of getting a set-aside, especially as I assume that the DN is faulty (7 days) and therefore the termination(s) are unlawful? Is the CCA OK on precribed terms?

[Spamalot]

Hi there,

 

I don't want to rain on your parade re the default but I think it depends on when the 14 day rule came in in 2006... I have a hunch it was October but I will try and check for you.. I've subscibed to a thread somewhere with that info in and I'll get back to you.

 

Spam.

[Spamalot]

Hi again,

 

I have found this which may clarify the point re the DN

 

The Consumer Credit Act 2006 (Commencement No. 1) Order 2006 (No. 1508 (C. 52)) - Statute Law Database

 

Sorry if it's not what you wanted to see.

 

Do you have a copy of the CA to hand that you can post up with personal details removed?

 

Spam.

[Spamalot]

Hiya, Me again

 

I've used this loan Calculater to check what you have stated in the first post.

 

Loan & APR Calculator

 

And it appears that the APR they actually used to get those figures is closer to 6.95%. I'm not sure if that would make the agreement improperly executed as it appears to have all the other prescibed terms...(does it have sig of lender too?)

 

Think you need the experts now.

 

Spam.

[OnMyWayOut]

Shame! I missed it by a couple of weeks!

[OnMyWayOut]

It's got both signatures although theirs pre-dates mine by a few days.

[Spamalot]

It's got both signatures although theirs pre-dates mine by a few days.

 

Thats odd..

 

Have you had a good look at this to compare what you have and to see if it's enforceable?

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/162851-consumer-credit-agreements-guide.html

 

Spam.

[OnMyWayOut]

Further thought on the DN - it states: -

 

"You are required, within 7 days of this notice, to remit direct to BANK the full arrears amount stated."

 

Then two paragraphs in capitals with the words "BEFORE THE DATE SHOWN" underlined and in bold, but there is no "date shown".

 

I'll try and scan some of these docs later and post them up for some advice.

Edited July 7, 2009 by OnMyWayOut
spelling/typing errors

[Spamalot]

Well well, that seems more like it!!

 

Not seven clear days as they have stated 'within' and no date!! Things are looking up... always good to scrutinize.

 

Spam.