Endeavour

[tra2026]

After a bit off advice I decided to make a claim against Endeavour.

 

I sent the prem letter to Endeavour and had this reply

 

Thank you for your letter dated 28th Sept 2006, which I read with interest

 

The loan agreement you signed clearly states the terms for settling your agreement early.

 

You refer to ‘unfair terms in consumer contract regulations’ which clearly state a term is only unfair if ‘contrary to requirement of good faith it causes a significant imbalance in the parties’ rights and obligations under the contract, to detriment of the consumers’ and in addition a standard term must be expressed in plain and intelligible language

 

This condition does not breach this test.

 

Your contract was regulated under the consumer credit act 1974. The terms of your settlement would have been calculated according to the calculation in the act known as rule of 78. The interest you have been charged complies with the rule of 78, which is clearly defined under statute and further indicates no ‘unfair term’ exists

 

You mention fees of £272 that have been levied to your account. These fees are clearly identified on our tariff card and provided on completion of your loan. The OFT has clearly identified late payment fees on credit cards as unfair and set a maximum of £12 but are still investigating other charges levied by banks and financial institutions. Obviously the facility provided to you doesn’t fall under the definition and furthermore the OFT comment was not retrospective.

 

I respectfully suggest you take your own independent legal opinion before progressing further with your claim.

 

It is important that your issues are fully addressed. Therefore, if you have any further queries relating to this matter, or remain dissatisfied, please do not hesitate to contact m and I will arrange for your complaint to be escalated. Alternatively, you may follow the steps detailed on our internal complaint procedure.

Signed by a Terry Grainger.

 

So I then sent the LBA letter 14 days later and received back 2 days later a copy of the first letter asking me to refer to the first letter.

 

This has frightened me a little as there is no mention of defending in court or anything like that, Its the first part that I am trying to claim that’s worrying me the most, on the statements it said it was a penalty charge for paying up early and I was told to claim this back now I’m not so sure

 

Any help would be great as I not sure whether to carry on with the claim or not

[spartagates]

It's a very similar letter to what northern rock send out. It's done it's job too as its got you rattled. Press on with your timetable, they are just trying to scare you off. The rubbish they come up with is laudable. It matters not a jot about who the OFT aimed its report, it's down to simple contract law; they are not allowed to profit from a breach of contract. The onus will be on them to prove that it cost them that amount to deal with your breaches. Its as simple as that.

[raaydaar]

Any news on this as I am considering making a claim against endeavour after they ended up nearly taking my house!!!! Although the loan has now been repayed I feel like meting out a little justice of my own!

[stuflo]

I too made a claim against Endeavour - sent out LBA - received letter from their solicitors Messrs Lightfoots stating they would defend the claim - am just waiting for the money to take them through MCOL - will keep you informed of how I get on -I think they think they can intimidate me with their war of words etc - they don't and I am willing to go all the way to Court with this - the amount involved is nearly £2,000.00 and I want it back - will let you know how I get on.