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Lombard Direct/Arden Credit Management Query + PPI reclaim now


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Hi everyone,

 

my OH and me are new here and would really appreciate some help.

 

I have spent hours on the internet trying to decide the best course of action and my head is spinning!

 

The story is long and complicated but I will try to keep it short.

 

My OH took out two loans in 2000 when his marriage broke down.

 

He ended up with a CCJ for one loan (despite using a debt management company - a very long tale of woe worthy of its own thread)

 

the other creditor, Lombard, accepted his offer of low monthly payments which he paid to them via Westcot Credit Services

until Arden Credit Management took over management of the account in April 2010.

 

In Dec 2011 the loan account was transferred to idem Servicing, with payments still going to Arden.

 

Last year Arden demanded he increase his payments which he did under protest

and recently they have become very heavy handed,

demanding another increase,

 

‘phoning him numerous times a day and sending letters threatening all sorts of action,

 

as he is “refusing to address the outstanding balance”!! (He’s never missed a payment for 12 years!)

 

After trawling through all the paperwork recently,

I discovered the original loan includes PPI which my OH doesn’t really understand about and he thought it was compulsory.

 

I decided to fire off a CCA request to Arden to give me time to investigate matters but they have totally ignored it.

 

Unfortunately I think I used the wrong letter template

– I used one from a post in this forum but it refers to section 78(1) of the Consumer Credit Act 1974.

 

Have I made a mistake big style,

or should Arden have replied to my request anyway?

 

Should I send another letter to Arden about the CCA request putting the agreement in dispute

whilst I claim a PPI refund (I am sure I found a follow up letter template on this forum somewhere but can’t find it now)?

 

Do I send a PPI claim to Lombard or idem?

 

Can I also just confirm that we are not trying to wriggle out of paying the debt,

we are just feeling very stressed and harassed by Arden and want to fight back a bit!

 

I am hoping if the PPI claim is successful I can offer a Full and Final settlement to Arden.

 

I felt quite strong at the beginning but feel we are now losing our way

 

– please help!

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welcome aboard

 

to be honest something smells here.

 

i think you and your OH have been royally cash cowed here.

 

what does your cra file say about these debts?

 

have you been getting regular statements from whichever leech has now got your free handouts?

 

CCA everyone your are currently paying

 

if they dont reply within 12+2 days

 

fire off the failure to comply letter and STOP PAYMENTS..

 

its usually quite easy to spot cash cowing

 

they shout louder and louder wanting more & more money

because they know one day you'll find out you dont OWE A PENNY to any of them.

 

never ever talk to a DCA on the PHONE

 

they have no legal powers to do anything to you as sucxh

esp if they do not OWN the debt

nor hold the CORRECT PAPERWORK

 

namely a CCA.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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welcome aboard Thanks for the welcome! Apologies for the weird spacing in my original post - not sure what happened there!

 

to be honest something smells here.

 

i think you and your OH have been royally cash cowed here I have come across that term before but I am not sure what it means!

 

what does your cra file say about these debts?

Have not checked his file for a while but he is able to get credit again now. Will check it again and report back.

 

have you been getting regular statements from whichever leech has now got your free handouts?

Yes, we have been getting them from Lombard to start with, then from idem Servicing

 

CCA everyone your are currently paying

We are only paying Arden with regard to this debt, who I CCA'd with the letter referring to Section 78(1) - does that not matter??

 

if they dont reply within 12+2 days fire off the failure to comply letter and STOP PAYMENTS.. Do you have a link to that template - I can't seem to find it?

 

its usually quite easy to spot cash cowing

 

they shout louder and louder wanting more & more money

because they know one day you'll find out you dont OWE A PENNY to any of them.

 

never ever talk to a DCA on the PHONE No we have not been answering the phone

 

they have no legal powers to do anything to you as sucxh

esp if they do not OWN the debt I am confused as to who does own the debt? idem or Arden?

nor hold the CORRECT PAPERWORK

 

namely a CCA.

 

dx

Thanks so much for your help so far - I might actually get some sleep tonight!

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your CRA file MIGHT show the debt

 

but it mighrt have already gone off [hence he can get credit]

 

debts defaulted fall off 6yrs from the default date.

 

the CCA letter in in the DCA section [on the right]

 

of the green library tab top left .

 

cash cowing means they are spoofing you into paying a debt that probably you do not owe

 

the OC [original creditor] would have written this debt off years ago against tax

and sold it on a phishing list

 

dca's 'buy' debts from the list for about 10p=£1

 

then the spoof you into paying the whole debt

by sending/ringing with every increasing threats

of everything to killing your budgie to imprisoning your grandma.

 

in all effect, 99% of DCA have NO LEGAL POWERS whatsoever unless they own the debt

and even then, it's very debateable if a judge would ever listen to them in court

as they never loaned you the money in the first place

 

they just profit on debtors at a very good rate.

 

it might be an idea to type in the name of any of the dca's you have encountered into our serach

top right

 

and get reading

you'll soon get the game.

 

fire off that cca request to everyone you are paying anything too.

 

they have 12+2 days to reply

 

those that dont reply

 

stop payments

 

and fire off the failure to comply letter.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Thanks dx. I have found the Failure to comply letter and the Harassment by telephone letter and I am going to send both off to Arden tomorrow.

 

The "stop paying" bit is the only scary thing now - I am worried that they will wriggle out of the CCA request because I quoted the wrong section of the Act - you have not referred to this error in your replies so can I assume I should stop worrying about it?!

 

Cheers!

low

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i wouldn't worry

 

they prob wont notice!

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Well I have checked his credit file and it is all clean and healthy - no mention of the two defaulted loans whatsoever! Happy days!

 

I have also been swotting up on PPI reclaiming - think I am getting there with it but I am going to need some help. I assume it would be better to start a new thread in the PPI forum, but in the meantime, is there a dummies guide to filling in the statintsheet spreadsheet?

 

Cheers

low

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see '0' below

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I have read that thread about 10 times and found it very useful but I can't find any help as to actually filling the spreadsheet in.

 

I understand that I should put forward a claim for the total amount of the PPI premium,

plus the interest charged by the bank on the payments actually made,

plus the further 8% statutory interest on each payment actually made.

 

I have filled in the spreadsheet but not sure I have worked it out correctly

- perhaps if I explain what I have done you can confirm whether it's right or not?

 

Maybe I am thinking it should be more complex than it is!!

 

The breakdown of the loan is as follows:

Loan: £5000

Repayment protection premium: £914

Total amount of loan: 5914

Interest: £1534

Admin fee: 0

Total charge for credit: £1534

Total amount to pay: £7448

APR: 9.90%

60 monthly payments of £124

 

Firstly, am I correct in thinking that the interest on the PPI premium and the monthly payments for PPI should have been listed separately on the agreement?

 

I have calculated that 15.5% of the monthly instalments was for PPI.

 

Then I have gone through all the statements and worked out 15.5% of all the payments OH has made towards the loan since 2000 and put them into the spreadsheet (took a while).

 

This has given me a total PPI payment of £762 and an 8% simple interest figure of £378. This gives me a figure of £1292 (914 + 378) which hopefully is OK so far!

 

However I don't know how to work out the " interest charged by the bank on the payments actually made" ie 9.9% x each of his monthly PPI payments over 12 years.

 

Any feedback would be much appreciated.

Cheers

low

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you have done it correct

 

dont forget

your monthly repayment on the loan ALREADY includes the banks interest.

 

so drop the last 2 lines.

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Ah right yes that seems obvious now you've said it! I am getting there, slowly, still reading lol! Time for bed I think, cheers again.

low

 

ps Have just realised that I have included on the spreadsheet payments made after idem took over the account so will have to knock those off too.

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no

 

any payments on the debt will still inc PPI PCM %

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Not sure exactly what PCM % stands for but I do see now that if PPI was not mis-sold in the first place, his payments wouldn't include a percentage for PPI, regardless of who the payment is being paid to! Now you know why I need help!

 

Thanks again for all your help DX, think I ought to now start a new thread in the PPI forum just in case it can help other people.

 

Cheers

low

Edited by losingourway
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PPI PCM % is the part of any payment made against the debt that was the ppi element

[that clculation you did]

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 2 weeks later...

Hi, it's me again.

 

I did as you advised and fired off the failure to comply letter along with a letter re doorstep visits and telephone harassment.

 

Now had a letter saying they have looked into the complaint and whilst they do not uphold it, they have removed phone numbers from their files.

 

They want income and expenditure details asap so we can agree a payment arrangement.

 

So,

they have completely failed to even acknowledge the CCA request or the subsequent failure to comply letter

(which obviously they have received as the letters were all in the same envelope!).

 

This is their final response and if we are not happy we can refer our complaint to the FOS.

 

So, what next please?!

 

Is there a failure to fail to comply letter?!

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nothing to do then

 

concerntrate on the PPI

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Share on other sites

not without a cca they cant.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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I just wish it could be sorted sooner rather than later as it makes my stomach churn every time I think about it!

 

Will see what happens when they realise we have stopped paying!

 

Cheers

Edited by losingourway
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Hi I am fairly new here and would appreciate some help to reclaim PPI on an old defaulted debt. I do have another thread running in the debt collection forum which gives some background to the case which might be useful: http://www.consumeractiongroup.co.uk/forum/showthread.php?370805-Another-Lombard-Direct-Arden-Credit-Management-Query

 

I have done a lot of reading up but still have one or two queries.

 

a) In the FOS consumer questionnaire it asks if the insurance is still running - will it be if the debt was defaulted?

b) The questionnaire asks for copies of any documents we have from when the PPI was taken out - we have a copy of the PPI policy and also a copy of the loan agreement - would we need to send a copy of the agreement (bearing in mind the loan is now in dispute with the DCA) or just a copy of the insurance policy?

c) I have found a letter template and obviously filled in the FOS questionnaire but I am unsure as to what the Schedule of Claim should include exactly? Is it just a copy of the statintsheet?

 

That'll do for starters - many thanks in anticipation!

 

low :-)

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1.yes

2. what is the dispute over

3 yes

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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ok i'll move them over

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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