Lombard Direct/Arden Credit Management Query + PPI reclaim now

[losingourway]

Here it is, thanks

[dx100uk]

add up all you payments on theat sheet [easily done using the E symbol thingy top right toolbar on excel]

 

then recontruct the loan

 

£5000 over 60mts @ 9.9% as per the agreement [but minus the 914 ppi]

 

are your payments total more than this?

 

your loan should be recontructed without PPI.

 

dx

[losingourway]

I have worked out the total paid is £4929 but then I am lost - reconstruct the loan? Presumably I am using the sheet you attached but I don't understand how to fill that in! I am sorry but I don't know what I am trying to achieve here!

[losingourway]

OK I think I may have sussed it! On the sheet you attached, I have put £5000 over 60mts @ 9.9% with a monthly repayment of £105 (ie £124 minus 15.5% PPI %). That gives a total of £6,300 meaning we actually now only owe £1,370, not £2,500. So am I actually trying to claim too much PPI back?!

[dx100uk]

no

just shows you what IS actually owed after the PPI is totally removed from the loan

 

dx

[losingourway]

So are all my figures correct then, including my PPI reclaim, do you think?

 

Where do we go from here, bearing in mind I don't think we have received everything we should have from the CCA request, Arden are pushing for an Income and Expenditure form, and Resolvecall are now on the case?

 

Thanks again

[dx100uk]

ignore them as such

 

resolve call certainly they are NOT BAILIFFS

and have NO LEGAL POWERS

 

i'd write ardens and thank them for the CCA copy

remind them that a CCA request should contain a copy of the T&C at the time of undertaking the loan

for the request to be fully satisfied under the appropriate regulations.

 

having now studied the Agreement sent

it is apparent the account is subject to a PPI of which you knew nothing about

 

this is now subject to a reclaim with the OC

 

and at such time the account balance is in dispute.

 

dx

[losingourway]

OK thanks again. In the meantime should we recommence payments to Arden, to keep Resolvecall off our backs - say £1 or something? We are not paying anything at the moment.

 

Cheers

 

Low

[dx100uk]

no

 

resolve call can be buffed away as above

 

rarely call anyhow

 

and remember

 

they are NOT BAILIFFSand have NO SUCH LEGAL POWERS

 

NEVER EVER pay any doorstepper

 

the money 9/10 goes in their pocket!

 

dx

[losingourway]

OK, letter written as per post 57, will be in the post tomorrow first class, thanks again.

 

Did you have chance to look at my statintsheet and do my figures in post 54 (amount actually owing) look OK to you?

 

Cheers

Low

[dx100uk]

yes but that is only a guide [very rough]

 

dx

[losingourway]

Oh yes I know but at least I am on the right tracks! Thanks again!

[losingourway]

Hiya I am back again.

 

idem have sent a copy of the terms and conditions therefore fulfilling their obligations under the CCA request.

 

Arden are now pushing for another Income and Expenditure statement to be filled in

 

- please can you tell me do we have to fill this in?

 

Do they have any legal right to this information?

 

Can I legally ignore them?

 

Many thanks in advance for your help once again!

 

LOW

[dx100uk]

no you dont have to fill ir in

 

no they dont have ANY legal right to it

 

only a JUDGE can demand to see such info.

 

dx

[losingourway]

Hi we are back again!

 

PPI claim still ongoing.

 

However Arden have now offered to accept a one-off settlement payment of approx 30% of the outstanding debt.

 

We are probably going to try and do this

 

but they state "Once the agreed amount is paid, we will mark your account as closed and your account will be reported as "partially settled"

with the Credit Reference Agencies and no further collections activity would take place on the account".

 

My question is: is "partially settled" good enough?

 

I have tried searching around but still not sure what we should be aiming for.

 

Your help once again would be much appreciated.

Cheers

[dx100uk]

they are giving you a discount because of the PPI I bet.

 

get the POI done

 

then think about settling if you need too.

 

partial settlement is s good as a default

 

just because they say they wont chase the rest

 

doesn't mean they wont sell the remaining debt on

 

and the process starts again.

 

with the next fleecers.

 

dx

[losingourway]

The PPI claim has been successful

- however

- RBS are saying they will pay Arden the bulk of the money

and the rest (interest) will come to us.

 

I have asked them to clarify why they are paying Arden

and so far they have not come up with a satisfactory answer.

 

So the plan was to pay Arden the settlement figure (much less than RBS want to give them)

then tell RBS to pay all the PPI refund directly to us (which I think they should be doing anyway).

 

I just need to know how to make sure that we get Arden off our backs

and what the credit file should be marked as in order to do so.

 

Cheers

[dx100uk]

without going back through the thread

who's owns the debt on your cra file or wherever?

 

if the debt has been sold

they cannot offset.

 

against FOS rules.

 

dx

[losingourway]

The loan account was transferred (sold) from Lombard (the OC) to Idem/Arden over two years ago.

 

The loan is very old so nothing whatsoever is showing on my OH's noddle report.

 

My understanding from reading the forum is that RBS should NOT be dealing with Arden, as you have confirmed above.

 

We want to pay Arden off and get RBS to pay us the full amount of the PPI claim directly.

 

Is this what I should be doing?

 

I don't want Arden to mark the file.

 

Thanks

[dx100uk]

once a debt has gone from the cra file it cannot return.

 

as for the debt being sold

and RBS trying to pay YOUR money to a debt buyer

 

you need to refer them/quote to the information on the FOS website

 

and

 

Edlington Properties v Fenner.

 

refers

 

dx