kerobo v Yorkshirebank Credit Card advice needed

[owlse]

Hi all and apolgies if this is in the wrong section

we instructed kerobo too see what could be done regarding this account,

the account has been open since the mid 90's

 

any way we did not hear from them for about 2 months , then out of the blue they called to say that they had made a successful claim against the bank

due to them not been able to produce the Credit aggrement, they also recomended that we take out a legal indemnity policy, bellow is a copy of that letter.

 

 

 

 

 

Dear xxxxxxxx

 

Firstly let me congratulate you on your recent successful claim. We are delighted to confirm that you over the next 4 weeks the following will happen:

 

1) You will receive a confirmation from our Solicitors that your claim has concluded and instructions to cease payments to your lender. This will also include instructions as to what you will need to do if your lender contacts you in any way in the future.

2) Your lender will receive a Declaration outlining the completion of your claim and instructions to cease enforcement.

3) Experian and Equifax will receive notification that your claim is unenforceable and they should update their records accordingly.

 

Our Solicitors strongly recommend that you take out a legal indemnity policy (see template attached) to cover you against any future restitution from your lender which can happen in some cases due to inefficient processes and outsourced collection departments or they may produce your agreement at a future date and counterclaim against the enforceability. For the fee already quoted you can be completely covered against any form of action, change in legislation or even minor collection activity. This policy gives you peace of mind that your debt problem with this lender is well and truly finished.

 

What does it cost?

As discussed with your advisor, your quote is as follows:

Debtor Amount Owed Fee Including VAT

So in summary legally insure your debt of £10300 for a fee of £346.63. If you have an available balance on your credit card you can include this fee in the balance we write off.

 

 

Referrals

 

If you would like to assist any of your friends in becoming debt free then make sure you refer them to Kerobo, we will pay £50 in high street vouchers for every one of your friends and families that signs up and pays their audit fee.

 

Testimonials

 

We are currently looking to launch nationwide television and radio advertisements and are inviting our existing clients to take part in testimonials. If you would like to assist us in this area please contact our Multi Media Marketing Director Darren Bott on 08456 435584 option 4.

 

Kind Regards

xxxxxxxxxxxx

 

 

does this sound real or is it something to get more money out of us?

also if this is the real deal do we need a legal indemnity policy ?

 

i asked for further details on the claim and have recived the following email

 

Your case was won on the basis that the lender has not supplied a ‘true copy’ of your credit agreement. This breach is called Section 77/78 of the consumer credit act.

 

The lender will only contact you if they locate a copy of the credit agreement at some time in the future. If you have the Legal Indemnity Policy, it will cover you against any future actions from your lender or any changes in legislation.

 

 

I must stress they have only recomended and not insited that the policy is taken out.

 

I am still to see any corespondance from the solicitor

thoughts would be apreciated , many thanks in advance

 

Jason

[MandM]

Hi, welcome to Cag.

 

Testimonials

 

We are currently looking to launch nationwide television and radio advertisements and are inviting our existing clients to take part in testimonials. If you would like to assist us in this area please contact our Multi Media Marketing Director Darren Bott on 08456 435584 option 4.

 

Well, here's a testimonial for you to read care of Cag.

 

http://www.consumeractiongroup.co.uk/forum/getting-out-debt/230168-kerobo-claims-any-thoughts.html?highlight=kerobo

 

Be vary wary IMO. All they have done is sent a letter to the company asking for a copy of your agreement and the company have responded inadequately. So how much did that cost you? 3 or 4 hundred pounds for the cost of a stamp and a letter!!!

 

I don't mean to sound too critical - each to their own - but think hard before your next move.

 

M

[MandM]

mmmm. Have read the link fully that I gave you and i've changed my mind, I DO mean to sound critical!

 

they look, on the face of it, like sharks preying on the vulnerable. Wide berth i'd say.

 

M

[owlse]

Thanks for your reply M

to be honest i have paid very little so far.

what i am confused about is this legal indemnity policy, is this needed or is it a load of rubbish, i guess its just a kind of insurance policy.

thanks again

[MandM]

That's exactly what they're claiming it is - an insurance policy. Without seeing the contents of the policy you'll have no idea of what protection you are actually getting. Have they given you this?

[MandM]

I'll also add that as things have developed then this could be a new 'angle' on the [problem] i.e. instead of X hundred pounds up front it could be a smaller amount of say 50 quid up front and then make the money on a worthless insurance instead.

 

Be careful with this owlse - personally, I wouldn't trust it based on what i've read elsewhere.

 

M

[owlse]

No they havent i guess details will come through once there solictors write too me, he did say that there was no need to take it out, but it was a recomendation.

i just never heard of it before

thanks again

[owlse]

oh i am been careful , its my reason for posting it on here , to get the opinion of others.

but has i said they are not asking for this money.

Thank you

[MandM]

oh i am been careful , its my reason for posting it on here ,

 

yep, i'll give you that one .

 

I'm sure others will post up, the weekends are notoriously slow on Cag.

 

Post up what you find out or receive, it will help others too.

 

Best of luck to you.

 

M