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kendraflo
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:-) Wondered if anyone can help. I did have a secured loan on my property, which was paid off last year. This company charged me £1,251.26 early settlement fee, Legal & discharge fee of £75.00 and interest of £160.42 - is it worth sending letter to them asking for my money back? Any help would be gratefully received. Do I send the template prelim letter?

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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Hi Kendraflo,

 

Was this secured loan under 25K if so there is a possibility that it is governed by CCA 1974. In which case if you contact your local Trading Standards they will be able to tell you if the early settlement figure was right. If you click the link on my signature you will find further info on page 3

 

If it was over 25K the CCA will not apply and I would suggest you send a preliminary letter asking them to justify the charges if they don't then claim them. You will find template prelim letter in my thread (page 1 post 14)

 

Hope this helps

 

Zoot

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Hi Zoot,

 

The secured loan was for £25,000.00 and was repaid in November. They charged us an early settlement charge plus interest etc of nearly £2,000.00. Am I entitled to claim this back?

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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If you reread Zoots reply she has actually answered your question, send them a letter asking them to justify charges and break them down, then send LBA, check out Zoots settled thread for more info on letters.

 

Sam

I'm a Foolish person

 

IGroup ERC £1928.64 Ist letter sent 12/9

LBA sent 26/9

Moneyclaim input 13/10

Claim acknowledged 6/11

Received fob off letter 11/11

AQs sent back, IGroup request multitrack and hearing

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Hi SammyJammy

 

Thanks for clarifying - am new to all of this - just read Zoots thread and it has cleared things up for me - will get the ball rolling on this one and see where it gets me.

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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  • 2 weeks later...

I have received a letter from London Mortgage Company this morning - I sent them the great letter posted on this website by Zoot claiming my EPC. They had until 2nd October to reply. They have stated in their letter

 

"we are sorry to learn that you are concerned with the settlement amount of your Loan Account. We will commence investigations immediately and will be back in touch with you very shortly to advise you of our progress. We want to resolve your problem quickly and fairly but in some instances, a complex case may take time to investigate thoroughly. So that you know what to expect, we have included our complaints handling procedure for your information. In the vast majority of cases we resolve problems a lot quicker than stated in our procedures."

Thank you in advance for your patience whilst we commence our investigations. It's actually signed by Matt White - Senior Mortgage Associate

 

(In their complaints leaflet it does say that they will send an acknowledgement within 5 days of receipt of initial letter (this did not happen to me!) and if they are unable to resolve my complaint within 4 weeks they will contact me again to explain why they have been unable to achieve this. They then go on to say it could take up to 8 weeks)

 

My questions is - do I now just sent the next letter out or wait until I have heard from them further? Can anyone help:???:

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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Thanks Cillitbanger - will send off next letter.:)

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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Just looked through the letter templates - can anyone advise which letter I should send now - they have replied, although not saying much and just delaying my timescale - letters in templates don't seem to seem right in my case - any help would be greatly appreciated.:)

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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Hi KendraFlo!

 

Good luck and just stick to your timetable - if you sent them a repayment request, then follow it up with your LBA 14 days later, then Court 14 days after that. That timescale is perfectly fair.

 

:)

--------------------------------------------------------------

HSBC

Settled in FULL on 8/8/06 - £3619.53

:D

CAPITAL ONE

Settled in Full on 6/9/06 - £84.76

:D

ABBEY NATIONAL (Old N&P Mortgage)

Settled In Full on 2/3/07 - £307.13

:D

SPML

*Court Case Withdrawn - family illness*

MORTGAGES PLC

*Court Case Withdrawn - family illness*

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Zoot - thanks for your link - your letters are excellant - I will send LBA out first thing on Monday - wish me luck - I will keep you informed.:)

 

Les Gunn - thanks for the encouragement - this site is soo good - it really helps to get advice and support from others in the same position.:)

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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Yeah, it's been a revelation this site...and after winning 2 court battles so far, it's about time that avalanche of successful ERC claims gathered momentum :D

--------------------------------------------------------------

HSBC

Settled in FULL on 8/8/06 - £3619.53

:D

CAPITAL ONE

Settled in Full on 6/9/06 - £84.76

:D

ABBEY NATIONAL (Old N&P Mortgage)

Settled In Full on 2/3/07 - £307.13

:D

SPML

*Court Case Withdrawn - family illness*

MORTGAGES PLC

*Court Case Withdrawn - family illness*

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Received letter from London mortgages dated 28th September saying they were sorry to learn that I was concerned with the settlement amount of my loan - they will commence their investigations immediately and will be back in touch to advise me of the outcome - it may take up to 8 weeks - (I think not!) and they send me a complaints leaflet.

 

LBA sent off on Monday 2nd October by registered post - will let you know how I get on ;-)

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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same bumf as they are all sending standard letter you dictate the timescales here my friend your in control issue your letters as planned !

if my advice has been of any help to you then please click the scales ! Thank you :D

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Still no word from London Mortgage Company - rang them today - was told they had sent a letter on hold on 28th September - said I had received that but I had sent a LBA on 2nd October giving them 14 days in which to reply and they had until 16th to get back to me before I issue my claim with the Court for a full refund of the ERC plus interest and costs. Lady told me that she would pass on the message to Mr Matt Waite as he was in a meeting - told her to point out to Mr Waite the clock was ticking and he had until 16th October before I issued my claim with the Court - (when I sent the Pre-lim letter I sent the long one Zoot had put together - I did not send them a schedule of charges - I knew what the ERC was and put that in the letter) - should I have sent a list of charges? - I don't want to cock this up now I have gone this far - advice would be helpful please anyone. :?

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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as your ERC is one fee i dont think you would haave to send a schedule of charge as there arent any ! i think your ok !

if my advice has been of any help to you then please click the scales ! Thank you :D

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Thanks Paddym & Zootscoot - I am only claiming early repayment charge refund - I will issue MCOL if I haven't had a reply by 16th Oct. I will keep you updated.

 

 

Kendraflo:)

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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Hi Kendraflo,

Best of luck.

Here is the particulars of claim I used on MCOL. Feel free to use and adapt for your claim.

I am claiming the return of money taken by the defendant in the way of a redemption penalty charge in Feb 06 on account no xxxx. This charge relates to my breach of contract in that I terminated the contract before the agreed period. The defendant's charge for our breach is a disproportionate penalty and therefore unenforceable as it is contrary to common law as established in Dunlop Pneumatic Tyre Co Ltd v New Garage and Motor Co Ltd [1915] AC 79. Further, as a disproportionate penalty it is invalid under the Unfair (Contracts) Terms Act 1977 s.4 and under the Unfair Terms in Consumer Contracts Regulations 1999. Para.8 and sch.2(1)(e). I have repeatedly asked the defendant to justify their charges but they have declined to do so.

 

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Hi Zootscoot

 

Thanks so much for the particulars - will adapt and use these if I need to issue - by the looks of it I probably will. Will keep you posted.

 

Kendraflo:)

Kendraflo:confused:

 

Halifax - S.A.R 8/9/06 - Overdraft facility removed 21/9/06 - threat to close account - Default Notice lodged 06.10.06

Mint - S.A.R - 8/9/06 - Statements received 03.10.06 - Prelim letter sent for £268.13 03.10.06

First Direct - S.A.R 8/9/06 - Statements received 21/9/06 - Prelim letter sent 21/9/06 for £410.00 - settled in full

First Direct - S.A.R 21/9/06 - for husband's old account

Barclaycard - S.A.R 8/9/06 - Statements received 16/9/06 - Prelim letter 18/9/06 for £496.25 - Part offer received 22/9/06 for £228.00 - Rejection letter sent 25/9/06 - MCOL issued 8.10.06

MBNA - S.A.R 8/9/06 - Partial offer received 6/10/06 - full offer & interest received on 6.10.06

ACE CARDS & GIFTS - S.A.R - 19/9/06 - statements received -27th September - vouchers received in settlement - 4th October 2006 - £235.00

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Hi,

Could you please give me the address you sent yr letter to the London Mortgage Company.

 

I sent recorded S A R Letter on 16th September, Royal Mail today says it is showing as lost. Could you please confirm yr address

 

Many thanks

Lynn

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