Everyday Loans - Fixed sum loan agreement advice please ...

[apollokid]

This loan was signed on their premises

[dx100uk]

then sadly you have no right to canel box required

 

dx

[apollokid]

Re: Everyday Loans - Fixed sum loan agreement advice please ...

The answer is in the amount of loan you have to repay if more than half of the loan time has elapsed, that is rather an onerous (think that is how it is spelt) term... plus the fact that the APR seems to be completely wrong.

 

I am no expert but I would say that the basic loan is unenforceable via a court, purely on the APR aspect... it is WAY too high for a fixed term loan.

 

I would let Trading Standards see the copy of the loan paperwork and see if they can do anything for you - but dont hold your breath on that.

 

 

More advice please in this reply someone stated that this agreement may be unenforceable ??? can some one please elaborate ??

 

Have paid these miscreants some £2500 and still owe the same again in interest ??

[elzippy]

hi guys

 

Im back just a quick update in november last year my solictors got my paparwork mixed up with someones elses. which as you will understand messed up my case in court. not yet been to court.

 

However im dealing with the solicitors via the right chanels.

 

as to EDL what can i say iv refused to pay for the last 7 months an they dont like it one bit however as they cannot answer my questions al i say is take me to court see you in court an still they do nothing.

 

I have been doing more research an i would urge all of you to obtain a copy of your data protection file from them its priceless reading. standup comedy. i took the loan in 2007 according to there data file which they do not know i have they state i took the loan out in 2006. thr list goes on if you look at the data protection act guide lines they have broken the 8 main fundementals for the act. just adds to y case. has any of you ever had to rescehdule a repayment say cos you changed jobs etc. i have i have done this 3 times in the past an yet at looking at my paper work on one occasion they charged me 100 pounds yet on the other times they never???? very strange yet they cannot answer why they did this nor is it listed anywhere in there charges or terms an conditions. HIDDEN CHARGES. again more breaches. OFT 2003 2.3 for guidance on collection for non payment also state that they cannot charge you for non payment. only the costs for actual collection of payment. so im sure you have all seen the letters 25 pound charge for nonpayment? then the list of charges stating 30 for home call etc

 

all void.

 

because my solictors of the time messed up the paperwork i now have there solicitors claiming i owe them 3k for costs. do one i say. lol

 

anyway same thing take me to court i will happly attend but funny they dont. also when you sign a contract. you have a copy an they have a copy both of which are identical. i like the way how the copy they sent me is different including different signitures. yet they still seem to think that they are right an the laon is enforcable. WELL TAKE ME TO COURT.

 

what they seem to be forgetting is it is an unsecured loan an i dont have a pot to pee in lol so bring it.

 

but surprise surprise they wont take me to court.

 

not heard anything for months then a phone call today. very polite to start with mr in a few months we will nolonger deal with you so we give you a chance to carry on making payments.

 

my words pass it to who ever i ready an waiting. funny how they still couldnt answer my questions

 

i now have 300 pages of evidence to support my claims i ask what are they scared of oh an i think they currently owe them 15k. end of day they are not getting a penny put of me till the courts decide. failing that theres always the big B which i am happy todo.

 

hope everyone is doing well an not getting grief from these sharks.

 

DX you said you started a thread for me you got a link for it . i would love to scan all my documents so that other people can use them to there advantage.

http://www.consumeractiongroup.co.uk/forum/showthread.php?282908-everyday-loans-v-elzippy&highlight=

[apollokid]

The answer is in the amount of loan you have to repay if more than half of the loan time has elapsed, that is rather an onerous (think that is how it is spelt) term... plus the fact that the APR seems to be completely wrong.

 

I am no expert but I would say that the basic loan is unenforceable via a court, purely on the APR aspect... it is WAY too high for a fixed term loan.

 

I would let Trading Standards see the copy of the loan paperwork and see if they can do anything for you - but dont hold your breath on that.

 

Can you please elaborate .. what do you mean by the loan is unenforceable ???

 

Am in deep trouble and have tried to come to an agreement with these people who keep adding a missed payment fee of £25.00 PLUS interest. :mad2::mad2:

 

Thanks

 

AK

[postggj]

Ive had a look at the agreement and it sems not compliant with the cca 1974

 

1/ i make the apr 82% not 76

 

it should be over 30 monthluy payments, not 29

 

1 payment of £158.28 then

29 paymets of £165.95

 

in the case of this agreement it should be

1 payment of £158.28

28 payments of £165.95

 

perscribed terms are misstated in that

 

amount of repayments are prejudiced by the rate of apr if you wanted any early redemption

 

i would say in my experience

unenforceable but wait for more replies

[apollokid]

Hi,

 

Thank you .. do not understand the CCA 1974...

 

What I have is payments of 1 x £158.28, and 29 of £165.95

 

The loan agreement is confusing, it says APR Variable 76.0 % somewhere else it states - interest rate is 51.9 % per annum variable. So all in all you need a maths degree to decypher these agreements.

 

It says they MAY chrage you £25.00 for a missed payment and £5.00 for cancelling a DD !

 

Is the interest rate illegal how would a judge in court view their activities ???

 

:jaw: Thank you for your help !

 

Regards

 

AK

[postggj]

ill go over it later ut as the apr is so way out then the whole agreement is null and void as the apr is a perscribed term

 

the variance allowed is 1 %

[dx100uk]

i'd get reclaiming all those 'fees' too!

[elzippy]

Hi all

 

Been a few years since my last post however I still stood my ground with these guys an am happy to report I have won.

 

here is a list of what I challenged them with.

 

Harrasment

breaches of data protection

breaches of credit consumer act

 

 

all in all I found 50 different breaches all coming under data protection the credit consumer act in some way or another.

 

give me a few weeks to list properly an I will list all an how I did it an hopefully some more people can benefit from it.

 

elzippy

[dx100uk]

hey great thanks for coming back

 

dx

[dipsylewis]

Hi all

 

Been a few years since my last post however I still stood my ground with these guys an am happy to report I have won.

 

here is a list of what I challenged them with.

 

Harrasment

breaches of data protection

breaches of credit consumer act

 

 

all in all I found 50 different breaches all coming under data protection the credit consumer act in some way or another.

 

give me a few weeks to list properly an I will list all an how I did it an hopefully some more people can benefit from it.

 

elzippy

 

 

sounds promising, thank you for the information, I am trying to help a friend that has a joint loan with their ex wife but despite a court order saying they both have to pay, they won't split it, which I fully understand, however, trying to get a copy of the original loan documentation and the statements is a night mare

[dx100uk]

sounds promising, thank you for the information, I am trying to help a friend that has a joint loan with their ex wife but despite a court order saying they both have to pay, they won't split it, which I fully understand, however, trying to get a copy of the original loan documentation and the statements is a night mare

 

better if you start a new thread

 

of your own

 

if there is a court order [CCJ?]

then try a CCA request?

 

or an SAR

 

dx