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Got a copy of CCA today


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A friend of mine received a copy of a CCA from London Scottish Finance today,I'm guessing that with the signatures etc that it looks enforcable,but any opinions are more than welcome.

 

Having looked at the figures it seems that my friend was conned into re-borrowing a previous outstanding amount,and having extra interest etc added on - is this even legal?:eek:

 

LScottish-detailsblankedout.jpg

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Need to see clause H then

 

They stopped charging interest on this a few years ago at my friend's request,so I guess there isn't much point demanding to see the other side of the agreement.

 

The original loan was taken out with London Scottish Finance Ltd,then they changed their letterheads to "Morses Club",but my friend's cheques were still made out to London Scottish Finance,and when the CCA request letter was sent to the Morses Club address,there was a message with the recorded delivery confirmation that this mail was redirected to another address - don't know where.

 

I now understand that London Scottish Finance went bust,and that Morses Club were just a part of London Scottish,so bust as well then.

Who the heck's been cashing the cheques?:???:

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The Company has not ceased to trade. The Administration is necessary because of the Company’s financial position and to ensure the best interests of customers and creditors are served. We will continue to keep you updated with developments in respect of the long term plans for the Company and notify you as soon as practicable if any changes are proposed to be made which will affect your current position.

 

Whilst in Administration, the Company will continue to manage its current loan book and the Administrators will be seeking to find purchasers for, and will continue to manage, the remainder of the Company’s business to maximise recovery for creditors. The existing mortgage/loan agreements of borrowers remain in place, the repayment profile of your mortgage/loans is not being changed and you are not being expected to refinance elsewhere. Borrowers should continue to make payments in the usual way.

 

For the full text visit the London Scottish Website;

London Scottish

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It's the wrong type of agreement for this type of loan. The loan was for over £25000 so it should have been an Unregulated Agreement and drawn up as such. The interest rate is scandalous and surely must come under an Unfair Relationship. I wouldn't pay them another penny and let them take me to court for a judge to sort it out.

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pinky it was for £1000 total loan included interes - the last two digts are pence

 

ida x

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For the full text visit the London Scottish Website;

London Scottish

 

Thanks for the link,but how do I know it's not all just a con to keep people paying?

I understand that Morses were purchased by RCapital earlier this year,it all seems a bit shifty to me.I guess my friend should write a letter asking for some information about who this money is actually owed to,who is actually cashing the cheques,and what their real address actually is...

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who is actually cashing the cheques,and what their real address actually is...

 

Ask the bank who's cashing the cheques, nice and easy!

 

More.....

London Scottish

 

Their website is being updated by their Insolvency Practitioner.

 

Their registered office is 201 Deansgate, Manchester, M3 3NW.

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Ask the bank who's cashing the cheques, nice and easy!

 

More.....

London Scottish

 

Their website is being updated by their Insolvency Practitioner.

 

Their registered office is 201 Deansgate, Manchester, M3 3NW.

 

So where does Morses Club fit into this picture,and why the dodgy address if they're not up to something shifty?

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