K+co Cat, PPI REclaim - success thro CEO Letter **WON**

[dx100uk]

where's this at now?

 

 

dx

[Glassart]

Hi Dx,

 

I have been unwell but am still here and doing the LBA.

 

In the LBA the reson I am giving is that: I was unemployed at inception and had a pre-existing medical condition.

 

 

In the LBA it says " In accordance with the Practice Direction on Pre-Action Conduct I would request that you provide me with copies of the following documents: List any documents you want from the party you are claiming from"

 

But I am not sure what if anything document wise I need to ask them for?.

 

Regards

[Glassart]

Hi,

 

 

I would be very much grateful if you could kindly advise me if this is ok for a LBA:

 

 

Date 15/09/2014.

 

 

Dear shop direct finance company ltd. Skyways House Speke Road Speke Liverpool L70 1AB

 

 

Reference: Account No: XXXXXXXX

 

 

I was mis sold by you PPI known internally by you as (ACP) Account cover plus.

 

 

As it has not been possible to resolve this matter amicably, and it is apparent that court action may be necessary,

 

 

I write in compliance with the Practice Direction on Pre-Action Conduct.

 

 

I was unemployed at inception and had a pre-existing chronic medical condition.

 

 

From you I am claiming a full refund of all premiums and intrest paid by me plus 8% statutory intrest at the time of this letter total £XX,XXX,XX.

 

 

I have calculated this sum at 29.9% APR plus 8% Statutory Interest annual rate on all the charged amounts I paid you.

 

 

Listed below are the documents on which I intend to rely in my claim against you:

All statements showing Account cover plus charges and medical history evidence from my Doctor.

 

 

In accordance with the Practice Direction on Pre-Action Conduct I would request that you provide me with copies of the following documents:

All Account cover plus policy documents

 

 

I can confirm that I would be agreeable to mediation and would consider any other system of Alternative Dispute Resolution (ADR)

in order to avoid the need for this matter to be resolved by the courts.

 

 

I would invite you to put forward any proposals in this regard.

 

 

[Alternatively you can set out details of any ADR scheme that you would be prepared to use]

 

 

In closing,

I would draw your attention to section II (4) of the Practice Direction

which gives the courts the power to impose sanctions on the parties if they fail to comply with the direction

including failing to respond to this letter before claim.

 

 

I look forward to hearing from you within the next 14 days.

 

 

Should I not receive a response to my letter within this time frame,

then I anticipate that court action will be commenced with no further reference to you.

 

 

Yours faithfully,

[Glassart]

Hi Just got this sent to me does it change anything?.

 

Lowell Reference Number: #####

 

Original Account Number: ######

 

Original Company: K&Co

 

Account Balance £####.##

 

Dear Mr ##,

 

We wrote to you recently regarding your debt that has been sold to Lowell Portfolio I Ltd by K&Co.

 

Please call 08448 150 673 today regarding the outstanding debt due to our above client.

 

We are not aware of any reason why your debt should remain unpaid. It is therefore very important that you contact us as soon as possible so that we can agree repayment. If you cannot afford to pay back the money in one go we can agree with you an affordable repayment plan that suits your financial circumstances. Please call an account manager today so that we can bring this matter to a close or follow this link and securely setup a direct debit.

 

Please visit our website www.lowell.co.uk for details about how you can pay, find out information about who we are and how we can help you and you can find answers to some of the common questions we are asked.

 

If you are struggling with debt, you can also contact a number of not-for-profit organisations for free, confidential and impartial advice, or for details of where to get advice in your area. These include:

 

National Debtline : If you live in England, Wales or Scotland phone 0808 808 4000 or visit www.nationaldebtline.co.uk for debt advice and information.

StepChange Debt Charity (formerly CCCS). For debt advice throughout the UK phone 0800 138 1111 or visit www.stepchange.org.

Your sincerely

 

Robert Taylor

 

Head of Collections

 

Lowell Financial Ltd

 

This email and any files transmitted with it are confidential and intended solely for the named recipient of this email. If you are not the named recipient you should not disseminate, distribute, copy or alter this email. Any views or opinions presented in this email are solely those of the author and might not represent those of Lowell Financial Ltd. Warning: Although Lowell Financial Ltd has taken reasonable precautions to ensure no viruses are present in this email, the company cannot accept responsibility for any loss or damage arising from the use of this email or attachments. Lowell Financial Ltd is authorised and regulated by the Financial Conduct Authority in respect of consumer credit regulated accounts. Registered number 4558936. Registered Office: Ellington House, 9 Savannah Way, Leeds LS10 1AB. Lowell Financial Ltd also trades under the names of Lowell Group, Hamptons Legal and Red Debt Collection Services.

Lowell Group:

An Investors in People Champion organisation

• Lowell Group has been ranked in the top three credit management and debt collection companies in Europe, prepared by industry consultants OC&C, for the last six years.

• Credit Today’s Debt Purchaser of the Year 2012, 2010 and 2007 – the only company to win the award three times

• In 2013, for the second year running, achieved the highest average score across the industry in the Credit Services Association’s Collector Accreditation Initiative (CAI), an online test that examines the knowledge and competencies required to perform the role of a professional collector.

[Old Cogger]

and their next joke is????????????????????????????:playball::playball:

 

eckythump!!!!!!!!!!!!!!!!

[dx100uk]

std threat-o-gram

 

 

dx

[Glassart]

Hi

 

I sent my complaint to Chief Executive at ShopDirect, I thought i would give it a try first a little progress?.

 

The final response was the findings of there investigation have enabled them to uphold my complaint.

 

 

1. Total PPI premiums paid (amount was correct) just over £4000

 

BUT then this all seems very low to me:

 

2. Contractual intrest paid on all these premiums (at 11.27% APR)

This is the amount of additinoal intrest paid because of the PPI premiums:

under £300

 

3. Plus any additional losses

these are the extra losses you have incurred as a direct result of having PPI:

just over £100.

 

4. Plus simple intrest at 8% per annum

this is compensation for times when, had PPI not been added; your balance would have been in credit:

under £40.

 

5. TOTAL (1+2+3+4) just under £5000

 

Still getting std threat-o-gram from Lowell asking for a little under £9000

 

Your thoughts please

 

Regards.

[ims21]

Without reading back over the whole thread, I can't remember whether you have done any workings on this?

 

You may well have done for a potential court claim which inevitably be higher than the standard regulatory based award but have you one any workings in accordance with the standard regulatory route?

[Glassart]

Sorry ims21 I don't understand can you please elaborate?

 

Regards

[ims21]

Yes of course.

 

When preparing fro your court claim you would probably have used a pure compound interest spreadsheet? Can't recall if you did or didn't.

 

However, now that the business has upheld your complaint, they will offer redress in accordance with the regulator's method of redress.

 

That award will almost certainly be less that any which has been calculated using a pure compound interest calculator since it seeks to put the cliamant back to the postion they would have been in had the PPI not been applied in the first place.

 

What you get back under this method is...

 

1 -> All premiums charged to the account

 

2 -> Any contractual interest charged to the account on those PPI premiums

 

3 -> The account is reconstructed with the above removed. If the reconstruction shows that for any month the account would have been in credit then you get 8% simple interest on that credit balance for that month.

 

 

This is different from simply claiming compound interest on a PPI premium from the date it was charged right the way through to today's date.

[Glassart]

Thanks ims21

 

Dam! I did not know that

so when I get the cheque.

 

Lowell who say they bought the debt from K&CO will still be after me for the full £9000

 

Regards

 

Regards

[ims21]

Thanks ims21

 

Dam! I did not know that

so when I get the cheque.

 

Lowell who say they bought the debt from K&CO will still be after me for the full £9000

 

Regards

 

Regards

 

That is pretty much it, yes.

 

Since K & Co sold the debt to a third party they have no right of set off so cannot adjust the account balance unless you give them express permission to send the award to Lowell.

 

So you will end up with, say £5k in your hands and Lowells will want £9k so you could reduce the balance by the amount of £5k by paying it to Lowell. There might be an opportunity of a full and final offer here though.

 

BUT, before you think of anything like that....have you ever sent a CCA request to Lowell? They may not have (or be able to get) the correct paperwork to enforce in court.

 

Sorry for the questions but I can't rad back through the whole thread right now.

[Glassart]

No I have never responded to anything from lowells

[ims21]

I've just read the thread.

 

It seems this has only fairly recently been sold to Lowell so for the time being I would personally not engage with them...see what Lowell do next.

 

I see from an earlier post that you had some charges added to the account. Have you done anything about a charges reclaim yet?

[Glassart]

Thanks ims21

 

I will do as you say and see what Lowell do next.

 

Yes had a few charges added to the account but no have not done anything about the charges reclaim yet.

 

Regards

[ims21]

Forgot to say, well done for sticking with this PPI claim over a period of 3 years or so and ending up with a positive result. Many would have caved in long ago. Much Kudos to you.

 

Now that the PPI claim is coming to a conclusion it may be the time to go for the charges.

[Glassart]

Thanks ims21

 

I feel I let the side down with my costly mistake in contacting Chief Executive at ShopDirect.

 

When you have time could you tell me how to claim back any charges.

 

Regards

[ims21]

Well it wasn't costly really was it? You had been getting nowhere with fos and the business in general but you now have an offer. Suing in court for PPI is not easy as teh onus of proof ( civil burden on the balance of probability) would be on you as the claimant.

 

The charges reclaim procedure is exactly like any other revolving credit agreement such as a credit card.

 

There are many successes on CAG but in essence your claim will involve the preparation of a spreadsheet, a preliminary letter of claim followed by an lba if they refuse to refund and if that doesn't work then you sue them.

 

Don't threaten court unless you are actually prepared to go through with it.

 

Time to research again so you can get up to speed on the subject. For some initial examples you might like to look in the Barclaycard successes forum.

[Glassart]

A Big Thanks to you ims21 and to dx100uk and the others on the forum like that helped you know who you are.

 

Regards

 

still In Debt, and Digging Deeper to Find Relief LOL

[Glassart]

Hi All,

 

I ignored all letters from lowell

 

BUT got this from them today

 

can you please give me advice on what's my next step do I need to do anything ?.

 

 

 

 

pre-legal assessment

 

dear ####

 

Your account is escalating

 

we refer to our previous letters unfortunatley we've still not agreed with you how you'll repay your debt with us and therefor4e it has been escaulated for legal assesment.

 

you can still discuss this with us before it escalates futher we will not ask you to pay more than you can afford so call us.

 

if you don't do this and we decide to use the county court to recover this debt, the court process will be as follows

 

1. you will receive a claim form from the court claiming the outstanding ballance plus court fees and solicitors costs.

 

2. if you still do not pay, 14 days from the date of that claim the court CCJ will be registered against you unless you file a genuine defence.

 

3. the ccj will stay registered against you for 6 years, unless you pay withen 30 days,which may not only impact your ability to obtain any future credit but also means we will have 6 years to enforce the ccj.

 

what enforcement means

Enforcement is a county cort process which allows us to use the courts to recover the amount of the ccj. an example of enforcement is an attachment of earnings: this means your employer would be ordered by the court to pay them directly from salary untill the ccj is paid in full. the court would pass the payment to lowell.

 

the last thing we want to do is take legal action so please call.

 

Regards.

[Mike_hawk]

Did you accept the offer in full and final from the original creditor?

 

If so it would seem sensible to present Lowell with a without prejudice offer based on a reciprocal percentage, without going back over the thread if you were offered [and accepted] 50% of your calculated redress make the same offer to Lowell with a brief outline of your reasons for doing so.......... obviously if you accepted the redress and have since spent it, its not really going to be an option.

 

Certainly go after Shopdirect for any charges on the account if they were not already specifically referred to within its offer.

 

The one issue you will have is that if Lowell do pursue this in the small claims track your data isn't going to be difficult for it to retrieve from Shopdirect as your complaint is fairly recent.

 

If you haven't accepted the offer you could still ask it to explain its method of calculating redress and provide you with a breakdown. Suing for PPI is inherently difficult [although not impossible], I've been successful in 3 cases in the last 12 months but I have to admit only 1 has reached a final hearing stage and each were compromised with Tomlin orders at circa 80-90% of quantum claimed. The 2 that settled early would have been severely commercially embarrassed by disclosure and the latter was half way through a hearing when the district judge asked us both to leave and come back with a compromise within the hour....... think he was having a bad hair day, bless him

[Glassart]

Hi Mike thank you for your reply

 

The redress I got from k&co was only 50% approx of what lowell are after I had to pay off other debts I had so I am only able to make an offer to lowell for 12% of the debt they are after not sure lowell would take that.

 

I am still on Employment and Support Allowance and don't want to lose my house thats jointly owned with my wife.

 

Regards

 

Hi again

 

Should I send a CCA Request first?

[Mike_hawk]

Hi again

 

Should I send a CCA Request first?

 

Considering the age of the facility I think I would, it'll need to be executed so if it doesn't contain your signature Lowells may be a tad less keen to sue and it'll give you a bit of leverage.

 

Have you not received any copies or recons during the 3 year kerfuffle with Shopdirect?

 

Long way off yet to be thinking about what it can and can't do 'if' it files a claim and 'if' it were to gain judgment and 'if' it could do any more than register a form K restriction with the LR.

[Glassart]

Hi Mike,

 

No I have not received any copy or recon of a signed credit agreement during the 3 years from Shopdirect.

 

So I will send them a CCA Request asap.

 

Thanks for your reply Mike

[dx100uk]

yes ccathem

 

dx