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Kensington SPO ***Resolved***


markez78uk
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well ive just had a phone call from the FOS

And they have had a quick view of the complaint letters and response from kennys

and basically they have advised kennys that they should put any legal action on hold due to the fact there hasn't been any proof sent over of what the current cmi should be and how it has risen after the fca findings told them to remove the charges ..

 

And the call was to tell me THAT KENNYS HAVE AGREED TO PUT THE LEGAL ACTION ON HOLD !!!

and the fos has emailed me proof that hey have agreed to put on hold

 

so that's absolutely amazing cant thank you all enough !!! I know its only on hold but ive paid end of last month and will be paying this month and every month thereafter

 

the fos said it could be upto 12 weeks before they finishing reviewing the compliant so that gives me breathing space to get payments on the account ..

 

#you guys are the best !! if anyone needs help and advise and feels there is no other way out - Please read this post and listen to the CAG Group they are amazing and have saved my life and my home !!!!!!! maybe there is a god - a CAG god

 

 

I will sleep tonight I'm so worn out

Love you guys x

Markez

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we advised going to the FOS about this years ago , but for whatever reason it didn't happen...

..funny that..

 

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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hi dx I did go to fos last time

and was awarded compensation for telling me that the eviction was cancelled when it wasn't

and compensation for the harassment - but they didn't pick up on the cmi issues

they have now - so lets await that decision .. thanks mate

 

Have a good weekend :)

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The 1st thing i would always do is pick up the phone and tell the FOS what is happening once you have an open case resolved or not

 

Next time kenny's ring or send a letter tell them to go ring the fos i dont want ro talk to you

If you get a letter copy it directly to the fos

And sinply write to kennys saying

Your letter xxx date has been fwded to the fos

I will not be replying unless advised to do so by the FOS

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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Make sure you check with the court that Kenny's have cancelled the action - you know what they're like

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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good afternoon , the court have confirmed eversheds have asked for the legal action to stop

whoooooooooooo

its been placed on hold at kennys end while FOS Look into my complaint

so al lis good - I will keep up with the court order and then they shouldn't be able to do anything as I will have payment on the account inline with the court order and inline with my proposal

 

Again thanks again people you are all amazing !!!

Regards

Markez

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Now try and not put your head in their mouth again....?

Dont miss payments...

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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Now go and blinking enjoy your life :-D the best of luck to you both.

 

Tis me again with my constant niggle.

 

Find out Markez if any of these legal costs are accruing on your mortgage at some point now you have a bit of breathing space. Someone is paying for either Kenny's or E'sheds and you can guarantee that person will be you. I can't shake this from my mind even though you have had something in writing saying there are no charges - I don't buy it..

 

This might be a good time to SAR both Kenny's and Eversheds (they won't like it, but if this were me, I'd be doing it). Look at the terms in your mortgage loan documents and see if you can spot anything which states they can add their legal costs and then if there's anything in there, the question is where are these costs shown, where are they going to be shown if not already and when are they going to be shown?

 

I know I bang on about it, but thus far I have seen nothing from you which tells me they are paying all their own costs - and I smell a rat.

 

Prove me wrong and I'll be happy.

 

I am jubilant you have pulled this off and whilst you sing the praises of everyone on here (and rightly so if I may say so) it is you who have actually executed the whole thing and believe me, there have been thousands of people who have come on the forum over the years who have been given real solid guidance but who have, for one reason or another either bottled it and left it, ignored it and lost the lot, or been just too frightened of the whole legal, court and challenge scenario, which is fully understandable given the fear people face and endure going through what you have experienced.

 

So, take nothing away from what you have done my friend, you've just climbed a mountain! - I'm proud of you.

 

Well done. Just don't sit back as dx points out, keep on top of this, plot your way through the next stage cos it ain't over quite yet - just enjoy the break, but be prepared, line the ducks up for the next round and be ready for it. Keep coming on here asking all the way, don't wait for it to happen.

 

Elle-nn - You're just plum amazing!

 

Andy Pandy.

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hi Andrew 1

 

Thanks mate means a lot -

The eviction letter arrived yesterday - I rang the court and they stated its crossed post and double confirmed the warrant has been withdrawn :-D

 

Kensington stated they are in the process of updating the online account system so you can see other charges showing along with the balance -

so I should be able to have that access very soon

then I can see what other charges there are ,

 

I'm letting the lion sleep for a couple of months while I get payments on the account and also await fos decision - then yeah I will go for the charges ect with SAR

 

 

I WOULDNT BE HERE AND COULDNT OF DONE IT WITHOUT ANY OF YOU !!

 

guidance,kind words,support,advice, you have all been amazing ! when I get financially stable or win the lottery - Dinner is on me !!

 

Thanks Everyone

 

A very happy Mark

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thanks spudzulu - means the world mate

Eviction letter is getting put up in my garage to remind me that the fight was nearly lost - but we got there in the end

and now I'm in a much better paid job - all payments will be made

priority priority - kennys wont have the last laugh - I will and that's a promise

now to try and get my credit file sorted - so I can move away from these in the next 2- 3 years

 

Again thx

Mark

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dont forget, when they do remove the charges they should also correct the figures to adjust the interest they have applied to those ficticious amounts.

 

It is possible to calculate them for yourself but you will need to knwo how they charge interest, daily or monthly and if the latter in arrears or based on monthly average.

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oh my days

Kenny have sent a new letter today stating new cmi next month will be rising again from £592 to £612

so the cmi was £540 in may

£544 in june after the fca re address it shot up to £589 end of june

then £592 july ,august September

Now October payment will be £612

 

extra £52 a month within 5 months :(

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I told you Markez about this Business model and I attach here a chart I drew up about the Swift Advances rates which are based upon the Libor rate or so they said when it was convenient, but changed it in court to suit themselves and introduced ' financing costs' too when asked why they raised rates rather than reduce them when the Libor and Bank of England rates went down. Punters never saw a rate decrease throughout their loan term and as Kenny's business model is the same, yours won't either.

 

You can see the initial Swift rate for a loan was 13.44 in the yellow column on the right against a Libor rate on the left of 4.75 back in Feb 2006. I have nothing against the mark-up, that's what business is all about and they make their profits on the mark-up, but follow the headings down and watch as the Libor rates and the Bank of England rates tumble, yet the Swift margin increases as they fail to reduce rates to customers.

 

Their margin (Profit) goes from an initial 8.62% to a whopping 15.5% + when everyone in the country is struggling at that time from the banking crashes.

 

That's why you won't see these kinds of companies giving you a penny unless forced to do so.

 

Hope that helps? (It probably won't, but it helps understand what makes them tick!)

Swift Advances rates Libor & Bof E comparison.pdf

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Disgusting !! - they should be jailed - the whole lot of the sub prime lenders - all in one jail where we can keep an eye on them !! I've been helping to fight them for years on this forum and they're nothing but a blight on the country. How does lending people money then engineering them to fail so they can repossess be a fair practice, it's just peddling misery !

 

 

(rant over - for the time being)

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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Swift went on the rampage using this business model repossessing thousands and thousands of people's homes right across the Country. Northern Ireland was particularly badly hit. The minute a customer got into arrears the profit machine kicked-in charging for letters, default notices late payment fees and anything else they could add to the capital balance.

 

One particular gripe I have, and this applies not just to Swift but to most lenders including the High Street lenders and that is the procedures, or lack of them, in place to stop the debt spiraling out of control.

 

Rarely, when charges are being applied at the time of what they'd like to term as the 'offence' did the debtor get informed they might like to pay the 'fine or charge' off so as not to attract further interest over the term of the loan.

 

With 1st mortgages (1st Charge that is, not your first mortgage ever), a mortgage statement is issued generally once a year in January meaning that any charges which had been applied say the January before, the cost of the penalty for want of a word, had been applied to the capital balance for almost a year before the customer was informed or aware of the charge and that charge had attracted interest for that year. Many had that with Second charge loans too and this makes a hefty profit for these companies. It is my belief that any charge being applied to a loan of any kind should be preceded by a letter stating the charge will attract interest and should the customer wish to pay it, the interest would not make their debt situation worse.

 

To me that's common courtesy, to them it's profit so keep stum!

 

I agree with you Elle-nn the sub-prime market should be exterminated, regulators are no use, we had the OFT overseeing the likes of Swift and they were as much use as a chocolate kettle and the unregulated loans (over 25k back then) were like giving them a blank cheque.

 

Try get them out of your life Markez, you'll be a happier man for it!

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This guidance note from the FCA may be of interest: https://www.fca.org.uk/publication/finalised-guidance/fg17-04.pdf

 

Although published in April 2017, I suspect that some within the industry are ignoring the FCA guidance and including arrears in their CMI calculations.

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

No... you can't eat my brain just yet. I need it a little while longer.

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too right they are!!

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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The FCA 'Guidelines' are often stated as just being guidelines by these companies, not the law, happened with the OFT back then too. I have had many dealings with the FCA, but as with most regulators, they won't entertain any dialogue with the customer so you never know whether your particular complaint or concern is thrown in the bin when it arrives or is being treated seriously and acted upon.

 

Regulators do not get involved in individual account disputes, they just 'listen' to people's concerns and if they do act on them, you never get to know how or what was done.

 

To the concerned punter, that's not much help when he or she is fighting for their life against an alleged injustice by an unscrupulous lender or practice. In fact, it just frustrates the punter even more.

 

One just hopes someone hears what's going on and does something for the rest of mankind to stop the organisation from doing it again - but you never know!

 

That takes people to the legal option and I have not seen many people come away unscathed from taking these companies on as the T & C's in their contracts mean that the punter pays for their defence and costs no matter what the result is and that's hardly a fair term in a consumer contract is it? There is no level playing field from the very start.

 

It's a very hard battle to win against these people without cost so best not get into bed with them in the first place if at all possible - credit can be useful, but it's dangerous to one's health.

 

Andrew

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  • 1 month later...
  • 3 weeks later...

Hi guys . Update

I've paid on time for the past 3 months and exactly in line with court order .

Today my statement came and it showed applied 3rd party charges £249 applied 16th of November

 

I had no option but to call them to find out what these were for

The call handler stated it's the costs involved canceling the warrant back in August ..

I will take that a's at leat it was cancled

Now yet again the best bit

 

She asked if the account was still been investigated by Fos

I replied yes

 

She then proceeded to advise me that depending on the outcome of the complaint kennys may still enforce the eviction warrant !!! I replied you what even tho I've made 3 month's of payments !

 

Her response was the only way the warrant would of been canceled was upon full recipt of all the arrears

 

I replied but you have canceled it and I've made 3 payments .

She said doesn't matter as we ant the full arrears to stop any further action ..

 

And depending on the outcome of Fos complaint depends on what action they will take next .

Godsake /polite word

 

I've recorded the whole call and passed the info on to Fos

Kennys are going to be the death of me

Regards

Markez

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wonder why they put those charges on there..maybe cause they know you'd phone up...god how many more times are you going to fall for their tactics.

they've got you on a string.

 

good you recorded it good you've added it to the complaint.

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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  • Andyorch changed the title to Kensington SPO ***Resolved***
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