Wrote to my MP - Capstone/Acenden

[stephen25000]

Hi

Stephen you left me a PM to get in touch re my thread on our repossession hearing with Ascenden on 2nd March. I can't reply as I don't have enough threads yet - are you able to reply to my thread with any help you think we would need prior to the hearing please? My log in name is now windowbox. I think my thread is called SPML/Ascenden repossession hearing 2 March 2011.

Thanks D

 

Hi there , sorry to take so long to respond, but been busy with work. I will respond more fully with advice tomorrow.

 

Stephen.

[stephen25000]

Can anyone tell me is Price Waterhouse Cooper blocking action against Capstone/Acenden ?

[Ell-enn]

What makes you ask that question Stephen ?

[stephen25000]

Sorry, am bit confused about the article, I meant 'backing' PwC.

[peterjm]

The question I would like to ask is.Has anyone who has complained to the FOS about unfair arrears charges levied by capstone/acenden ever actually got a positive result and had these charges refunded.

As regards Stephens query,this seems to me to be the right question to ask why in the light of the gmac findings have this lot escaped any sort of censure whatsoever and are still ploughing on with impunity with fairy godmothers PWC majority shareholders?.The FOS seem to think by all accounts that their charges are reasonable according to several negative reported decisions despite the gmac findings whose charges were actually less!

Here posted and highlighted again and all apply to Acenden in bucket fulls.

 

2.3.

The firm breached Principle 6 during the Relevant Period in that it failed to pay due regard to the interests of its customers and treat them fairly. In particular, the following failings were identified in that GMAC:

(1)

failed to ensure that mortgage servicing staff had an adequate understanding of and implemented the requirement to treat customers fairly in handling its mortgage arrears and repossessions;

(2)

until late 2008, focussed on the collection of payment of arrears over a short period of time within fixed mandates, rather than always establishing a suitable arrangement based on the customer’s individual circumstances;

(3)

applied certain charges to a customer’s account that were unfair in that they did not accurately reflect the actual cost of administering an account in arrears;

(4)

had not arrived at a cost-based approach to the calculation of its arrears charges and therefore could not be sure that they were reasonable compared to the actual cost incurred;

(capstone that was actually stated to the Mail that they had no idea of how the figure was constructed!Northern Rock seemed to think a fair charge was £25 )

(5)

caused some letters to be sent to customers that were either factually inaccurate or did not contain sufficient information to give customers a clear and accurate statement of their mortgage account; and

(6)

sometimes issued proceedings for repossession before all alternatives to repossession had been considered and accordingly, did not always use litigation only as a last resort.

2.4.

The firm also breached MCOB 12.4.1R and 13.3.1R in relation to the facts described at paragraph 2.3 above.

2.5.

 

 

 

 

Can anyone tell me is Price Waterhouse Cooper blocking action against Capstone/Acenden ?

Edited February 18, 2011 by peterjm

[littledotty27]

The question I would like to ask is.Has anyone who has complained to the FOS about unfair arrears charges levied by capstone/acenden ever actually got a positive result and had these charges refunded.

 

 

In my own opinion Peter.....big fat NO!!

 

18 months I waited for an adjudicator, who basically stated I shouldn't have got in arrears in the 1st place, & they thought the arrears/charges etc were fair & that I would have to put up with it & just get my arrears paid off,then I wouldn't incur anymore charges.

 

They are a waste of space & government money.

[peterjm]

Well LD thats pretty conclusive from the site founder.So the £60-£85 charge is fair according to the fos then despite the gmac finding and despite the Northern Rock's admission that the real cost is £25 and despite that in litigation numerous judges have deferred to the fos stating these charges are ludicrous and expecting them to be refunded.

So who's leaning on who

[stephen25000]

Just to let you know that I emailed my local MP, and received a reply yesterday. He thanked me and said he would bring the case up as soon as he could in Parliament. Also, have emailed the Guardian, no reply as yet.

[Crapstone]

As above you really do have to slog it out and keep pressing. Send everything you get in the mean time and don't expect an adjudicator to come up with an answer because they don't. You have to keep appealing and take it as far it will go. They will make offers of compensation but just turn them down in favour of all the charges wiped off.

 

They did apply charges on my account afterwards and after speaking to the Fos they were quickly removed as the Fos said we were free to start another complaint and any future charges would be looked at dimly in light of the previous 'win'. A copy of that letter was sent to Capstone and they quickly adjusted the account and have not charged anything since then.

 

I think the case would have been over within 18 months if it weren't for that fact that it was Capstone/SPML that kept appealing when it was decided in my favour. I know mine isn't the first win as they whinged in their defence that they were being continually picked upon by the Fos and it wasn't their fault and the charges were fair in their opinion. Obviously the Fos begged to differ. They can ask for all the information they like and if it's not provided then it shows a complete lack of cooperation by Capstone for a system of mediation to prevent court action.

 

It may have helped that I left the initial complaint to the Fos fairly open on the charges AND the general conduct of the account. All I asked was to be treated fairly and to have the account conducted in a proper manner. I kept in touch with them throughout and highlighted and copied all of the statements, threatening letters and mistakes that SPML made continually over those 2 years the case was being looked at.

 

I can't say this often enough, but you really do have to dig your heels in and not take 'No' for an asnwer whatever they try to throw at you.

[stephen25000]

We were repossessed by this **** last August same scenario in arrears most of it charges then wanting a lump sum when knew we had no chance of paying it. Wish I had done a lot more but never been through this before should of got more advice and hit them where it hurts too late now .

 

Hi Roxy,

Sorry I havn't replied sooner. I would like to know how to claim the fees back. Maybe we could do it in conjunction.

[stephen25000]

Hello everyone,

 

 

Bearing in mind that the fos appears to be unwilling to deal with Capstone/Ascenden and their affiliates, it really does beg the question of how and why they are getting away with this.

 

The lack of action would invariably lead to questions of corruption on the part of the fos, and dare I say the possibility of backhanders being given to members of this quango like organization cannot be ruled out. ALLEGEDLY, of course.

 

Some may not like to here this, but one thing I do know about human nature is that greed often overcomes moral scruples, when there is an easy buck to be made, and remember of course Ascenden are derives from the Lehman brothers group and we know what happened to them

 

I look forward to replies.

 

Stephen.

[Crapstone]

I didn't have any problems with the FOS and they are aware that Capstone and SMPL are cowboys. The problem, I think, is that people aren't grabbing the bull by the horns, making the complaints and seeing them through. They think it's easy.. it's not. You can't send a pile of papers off to the FOS and expect them to sort it all out or understand when you've only given them a few lines to go on.

 

'I don't like the fees they charge so you can deal with it and the few letters I've provided should be enough for me to win'. It doesn't work that way! It may take a while but you do get disclosure and time limits just as you would with the courts. You don't get an automatic right to appeal with a court but you do with the FOS and still have that option to take it to court.

 

If you feel strong enough about something you will win but you have to be dedicated 100%. It's somewhat in the past for me now but having to sit for hours on end just going through all the figures and their letters paragraph by paragraph was mind numbing but it had to be done.

[stephen25000]

Crapstone thank you for the info. Will take it on board. Have been reading through the SAR just now, and they were still making charges from the date we were evicted July 2010, right up until the last part of the SAR October 2010. I would welcome your comments.

[stephen25000]

I am composing long letter to FOS, obviously along with the charges. I was not on the deeds of the property, it was in my wife's name. She is currently unemployed. I would like to know, is it possible for her to get Legal Aid ?

[Crapstone]

Unless you are defending a court claim I don't think you'd get anywhere with legal aid, but you can use any legal protection you may have on insurance for advice. If they are trying to claim then Community Legal Services can give some sound advice and pass you onto a solicitor than can put in some hours to help even if you don't fully qualify. I used them and they were great. They did more than what I could have ever expected of them.

 

You shouldn't need legal aid if you are going through the FOS as that should delay any court action through the mediation, even though sadly, you have already been evicted. I guess they are trying to get to get you cough up the fees and charges still owing. What a nightmare that must be and I almost wish I'd have gone through that myself so I could help you more. I haven't, so all I can tell you is about the FOS and how to deal with any court action.

 

My OH reminded me today just how much the FOS helped us. We were away in Denmark for a while and the Ombudsman..I'm not sure I should give her full name but for this purpose it was Jan. ..She gave me a direct dial number and answered every question, called me back and I can't praise her enough for what she did.

 

BF has a point but I think everyone needs to work out what they want. For me it wasn't money or compensation. I just wanted to feel safe in my home without it being snatched away on some false claim and greed. And I was happy with that ..no amount of money they could ever have offered would make good the damage done.

 

Do the basic online form and don't make it too long. Just give a brief outline that covers all you have to say. You can add everything else later in more detail.

[stephen25000]

They now only want to know because it is newsworthy, that is why. There is no consipracy theory here, just the basic fact that ALL lenders have shut the stable door without bothering to find out any further ways of dealing with issues and these companies are proliferating and profiting from others misfortune.

 

Get your MPs reply over to Stella Creasey, she is dealing with this at a high level now and is the MP to watch out for. Her office has contacted me several times now about issues and I am passing on the information to her when I have permission from the original poster.

 

Sometimes being pessimistic about the issues helps keep them 'under wraps', speaking out and naming and shaming these shark companies is one of the better ways of bringing them into disrepute - as is continually complaining about every breach of the OFT Guidelines on debt collecting, spelling out exactly what breach has been made and in what way.... that helps the OFT build a far better portfolio against these companies.

Hi

Was interested in your response.

I had written to my MP via his researcher on numerous occasions, regarding the appalling dealings with Capstone/Acenden. I had told my MP. what had happened to us from the onset of obtaining a secured loan of £1000.000 plus PPI on our property, to unfortunately the eventual repossession. Nothing concrete came back regarding what actual fundemental steps to do next. Basically he only mentioned contacting the FSA (which I had already done via a complaint, regarding the failings of the FSA and their MCOB rules not being implemented, and also the Ombudsman which I had done already). I do have the final letter from my MP, so would very much like to get in contact with Stella Creasey.

By the way, our case was highlighted in the Financial Mail on Sunday's edition in September 2011.

[42man]

What a shocker Stephen....please do keep us posted. - did you see this ? - http://www.consumeractiongroup.co.uk/forum/showthread.php?330858-Sub-prime-lenders-continue-to-be-charge-excessively-!!!-Please-read

[stephen25000]

What a shocker Stephen....please do keep us posted. - did you see this ? - http://www.consumeractiongroup.co.uk/forum/showthread.php?330858-Sub-prime-lenders-continue-to-be-charge-excessively-!!!-Please-read

Hi 42man

 

Yes, thanks for that, absolutely disgusting. That's putting it mildly. Seems Southern Pacific have the highest fees, and still slip through the FSA net. Getting away with their appalling handling charges/fees; etc;etc. The question is WHY are they getting away with it ?