Multiple agreement or not?

[munitawks]

Hello All,

Please could I have your valued opinions on this credit agreement. Would you say that it is a multiple agreement or not?

[steampowered]

File size is far too small to read. Either take a higher resolution photo or use a scanner.

 

You'll need to give a bit of background if you want sensible input.

[citizenB]

You might find it better to convert to pdf format

[munitawks]

Thank you both for your replies.Getting file re-done now.

[ssparks2003]

can you expand further on your question as to the multiple loan?, looking at the document i would say no, BUT its not what i can see its what i can't that may make the diffrence, is this all the terms that relate to the loan?

[munitawks]

Hope you can see it now, as I am not very pdf savvy!

Story so far:-

This is the agreement for a 2004 secured loan from IGroup, taken over by G E Money.

As you can see loan for £15,000 plus single upfront payment £2400 PPI.

PPI for 5 years(finished in 2009) Loan for 90 months (finished Jan 2012)

but still limping along. In August 2013 GE Money tried for possession for the third time, but the judge issued a Time Order which is being paid at £538 per month.

 

 

Sent a SAR last August and discovered mis-sold PPI.

 

Mis-sold, as box pre-ticked for PPI when the above agreement was sent by GE Money by post, for signing.

Back in 2004 had no idea what PPI was, thought it 'something to do with loan',that's all. Also self-employed, so would have been useless anyway.

 

As I have already said,Time Order being paid by 8th of every month. Have kept up re payments faithfully since then,but, have been paying weekly IYSWIM, so that the by 8th of every month full amount has been paid. GE Money now saying that repayments cannot be made like that and am now technically in arrears. What The @@@@!!! Have totally had enough now.

 

Am going to claim back PPI and penalty charges on loan, and believe me there lots of them.

PPI first.

 

Am going after GE Money for this. Have asked them twice to remove PPI and first response by them was go after Ocean Finance. Found they had dissappeared etc,etc. Then wrote to Cigna, the underwriters, who replied saying that,quote"The sale of this policy was in fact concluded by GE's subsidiary IGroup Services Ltd who were responsible for arranging sale through a broker of their choice.. . . . . . .any further information you require is held ONLY with G E Money Ltd including the transcript of the sale, all signed documentation by the customer and any information regarding charges, rebates, premiums and interest due on the loan. Please note that any request for a refund of premiums MUST be dealt with by G E Money Ltd . . . "

 

Second time complained to GE about PPI they 'investigated' and concluded that there was nothing wrong with insurance, and told me to go away,final response blah blah.

 

I have repeatedly asked for the original/legible copy of the agreement and they keep sending me copies of the above document. Have asked in the SAR,Section 77-99 CCA 1974 and under Civil Procedure Rules (pre action protocols and Part 31.16) which they have ignored.

 

I looked at the agreement/application form that I have and after reading PT 2537's multiple agreement thread, I think this is what I have here.

 

If so, how would you advise me to proceed? Claim back PPI and charges and then go for the agreement, assuming that I am right.

 

Also, I would like to ask your opinions about the brokers role in all this. GE themselves told me to chase Ocean Finance. On all the paperwork I have there is no broker's fee anywhere. Is this because they would have done it inhouse, ie between IGroup and G E Money and no broker used, in which case they lied again. Or would there have been a broker who arranged the PPI for no charge!!!!!

 

I hope you will help me. Thank you. Munitawks

Edited March 30, 2014 by citizenB

[munitawks]

Hello ssparks 2003, this is the only agreement that I have, and these are the only terms.

[citizenB]

If you believe the PPI has been mis sold then you need to start the process for reclaiming.

 

how are you making "weekly" payments - by direct debit, standing order ? I am not sure how you can be in arrears if the full amount mandated by the Time Order is made by the 8th of the month ?

 

Also, why are they moaning about this now if you have been making payments this way since August of last year ?

[munitawks]

Sorry for not replying earlier. My turn for double shifts. Do not have dd or standing order on account. Ring GE and pay over phone using card. They say the process of paying money throughout the month throws their accounting system out!

I am in process of claiming PPI and penalty charges on account.

As I said, GE have ignored all previous efforts to get them to remove the PPI from the loan, so I thought that asking them again, by sending an lba and giving them 14 days to act would be the way to go.

Paying a mortgage (no arrears) and the loan is putting a great strain on the wallet.

I feel that tugging on their purse strings for a while could bring a little light relief.

[citizenB]

I think they would have a hard time convincing a judge that you arent sticking to the TO arrangement simply because you are paying weekly and mucking up their accounting system ?

 

I think you should forget all about the "multiple agreement" scenario and stick with reclaiming the PPI and any unlawful charges.

 

Please do not send an LBA unless you are prepared to issue a claim should they ignore ! Your plan should be.. send Spread sheet and FOS claim form to their Head/Registered office (by tracked mail) - give them the 8 weeks required to sort this out for you. Then take your complaint to the FOS. I think the FOS might pick up their speed a bit after April 1st, when the new regulators FCA take over.

[theoldrouge]

as regards the self employed ppi, did you obtain or do you have a copy of the ppi policies t&cs in relation to self employment. Was it a requirement to completely cease trading/or become insolvent in order to qualify for the unemployment benefit. As regards the multiple agreement I think it would be extremely difficult as an LIP to convince a judge that one part of the ag (restricted use credit)fell into one category of ag and unrestricted use credit fell within another, especially as the words "part" and "category" are not defined in s18. Indeed Francis Bennion on his website explains what he had in mind when drafting cca1974, and in s18 his example of a multi ag was an hp ag (s79) combined with ppi, a credit ag (s77), clearly two parts falling into two seperate catergories

[citizenB]

With regards to the payment arrangement would it not be easier to set up a Standing Order ......with regards to the them saying its in arrears I would ignore ..its being paid.

 

With regards to multiple agreements sec17 CCA1974.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?171037-Multiple-agreements-falling-within-section-18-CCA-1974

 

Hope this helps.

[munitawks]

Thank you all for your replies,they have been extremely helpful. Please could someone ask Dougal to clear his inbox as I would like to send him a message but can't get through.

[citizenB]

munitawks, if his inbox is full then we will not be able to ask him to clear it out.

 

It is more likely that your message is not getting through as you do not yet have sufficient priviliges to private message another member.