Creation Finance Loan Agreement

[hawkie85s]

Well, I believe there maybe a few people in similar situations but I don't wish to intrude on other peoples threads.

 

Where to start, well I hate them!

I had a 3 years interest free loan agreement through Creation via Ultralase. I started travelling 6 months into the agreement but always made sure that I had sufficient funds in my account to meet the monthly payments. No problems for the first 2 years then it all came tumbling down.....

1 month (march 2013) I did not have sufficient funds to pay, I was unaware of this but kind of knew I was low in my account any way, so later in March I transferred over enough money to pay for the next months and shortly after that I transferred enough to pay for the next 4 to 5 months. It was not until I checked my online account a couple of months after to see if i need to put more money in my account that I noticed nothing had been withdrawn via DD. I tried to get hold of creation via phone which was hard in Australia, and also sent 3 emails to them before I finally got a response. The said they cancelled DD because of non payment for March. I explained why I never new about it and basically that does not matter and they told me that my payment to bring account out of arrears was £850 give or take. So basically it was £110 I pay and according to them it was 3 months missed payments, the march one and the following May and June so they are charging me £520 in penalty fees. The only reason I never paid may and June was because they cancelled the DD which I was unaware of, as I did have money in my account to pay for them.

 

Now I have collection agencies knocking at my door and it has destroyed, what was, a perfect credit rating.

I have tried to reason with creation but they say its in the hands of collection agencies and when i speak to the collection they say they cant sort that out, speak to creation.

 

I dont mind paying a late payment fee for March but not what works out to be £170-180 for it and I certainly do not want to pay fines for non payment after they cancelled DD.

 

Any help or advice for this very stressful situation would be amazing.

 

thanks for reading, sorry its long and maybe confusing

[BRIGADIER2JCS]

Hi welcome to CAG

These late/missed payment fees seem incredibly high, do you have a copy of the credit agreement you can check what fees are laid down in it?

[ims21]

Well, I believe there maybe a few people in similar situations but I don't wish to intrude on other peoples threads.

 

Where to start, well I hate them!

I had a 3 years interest free loan agreement through Creation via Ultralase. I started travelling 6 months into the agreement but always made sure that I had sufficient funds in my account to meet the monthly payments. No problems for the first 2 years then it all came tumbling down.....

1 month (march 2013) I did not have sufficient funds to pay, I was unaware of this but kind of knew I was low in my account any way, so later in March I transferred over enough money to pay for the next months and shortly after that I transferred enough to pay for the next 4 to 5 months. It was not until I checked my online account a couple of months after to see if i need to put more money in my account that I noticed nothing had been withdrawn via DD. I tried to get hold of creation via phone which was hard in Australia, and also sent 3 emails to them before I finally got a response. The said they cancelled DD because of non payment for March. I explained why I never new about it and basically that does not matter and they told me that my payment to bring account out of arrears was £850 give or take. So basically it was £110 I pay and according to them it was 3 months missed payments, the march one and the following May and June so they are charging me £520 in penalty fees. The only reason I never paid may and June was because they cancelled the DD which I was unaware of, as I did have money in my account to pay for them.

 

Now I have collection agencies knocking at my door and it has destroyed, what was, a perfect credit rating.

I have tried to reason with creation but they say its in the hands of collection agencies and when i speak to the collection they say they cant sort that out, speak to creation.

 

I dont mind paying a late payment fee for March but not what works out to be £170-180 for it and I certainly do not want to pay fines for non payment after they cancelled DD.

 

Any help or advice for this very stressful situation would be amazing.

 

thanks for reading, sorry its long and maybe confusing

 

Hi and welcome to CAG.

 

Are you back in the uk now?

 

You should not pay any of the charges for being late with payment.

 

The amount they claim probably includes interest on the late payment charges too which is perhaps why they appear to be high.

 

Have you got a detailed statement of account for this loan?

 

Which DCA is chasing you and has the account been sold on or is the DCA acting on behalf of Creation?

[hawkie85s]

Hi guys,

I will try to hunt down the credit agreement forms, but have moved to new address so lots of boxes etc...

 

I haven't paid anything yet, but obviously i need to get this sorted asap.

The DCA I understand is called Clarity.

 

I have saved a page from creations website listing when payments and charges have been made on my account with them, and I have also got bank statements showing money in account for times of non-payment (except March as I know I had no funds)

 

If people can give me advice to say to the DCA or Creation would be great, as also I understand that as from tomorrow (7th April) i believe new, higher charges are applied by DCA's.

 

Thanks again

 

Oh and I am now back in UK

Edited April 6, 2014 by hawkie85s
PS I am back in UK now

[ims21]

Ok don't worry too much about digging out the agreement yet.

 

Do you have a statement of account from Creation or something which shows all of the charges added to the account. The type of charges you are looking for are missed payment charges, admin fees and the like?

 

Not sure what you mean by this statement

 

I understand that as from tomorrow (7th April) i believe new, higher charges are applied by DCA's.

 

You may be confusing things with bailiff fees. DCAs are most certainly not bailiffs.

[hawkie85s]

Sorry for late reply, been really busy with work this week.

 

ims21, I have been on to my account with creation and i could not download a an account form showing everything but I did select all text a paste on to excel. so I can see where charges have been made but its all abbreviated info. I can guess at a few ARR = arrears etc.

 

I dont really know where to go from here. Can I post a picture to here or something for you guys to look at? I just want to get in contact with these people to sort things out. Im looking to buy a house and with this hanging over my head its going to be hard and credit rating is troubled.

 

Im pretty clueless at this sort of stuff.

 

Thanks again people

[ims21]

You can post documents up here....use the following method but make sure you remove anything that can identify you first

 

set your default scan page size to A4 less than 300DPI [150 will do]

scan the required letters/agreements/sheets - as a picture[jpg] file

don't forget you can use a mobile phone or a digital camera too!!

'

BUT......

ENSURE: remove all pers info inc. barcodes etc

but leave all monetary figures and dates.

.

************************* ************************* *******

{DO NOT USE A BIRO OR PEN OR USE SEE THRU TAPE OR LABELS]

************************* ************************* ***********

.

DO IT IN MSPAINT.EXE or any photo editing program

goto one of the many free online pdf converter websites ...

http://freejpgtopdf.com/

http://www.convert-jpg-to-pdf.net/

..

if you have multiple scans/pics

put them in a word doc FIRST and convert that to PDF

or http://www.freepdfconvert.com/

or

use http://www.pdfmerge.com

 

convert existing PC files to PDF [office has an installable print to PDF option]

..

it would be better to upload a multipage pdf if

you have many images too rather than many single pdfs

.

or if you have PDF as an installed printer drive use that

or use word and save as pdf

try and logically name your file so people know what it is.

though DONT USE BANK NAMES or CAGicon in the title

i'e Default notice DDicon-mm-yyyy

.

open a new msg box here

hit go advanced below the msg box

hit manage attachments below that box

hit the add files button on the top right

hit select files, navigate to your file on your pc

hit upload files

...

YOU DONT have to put a link to the attachment in the msg box..just upload it ..job done

[hawkie85s]

This is all I can find. Its a little blurry, If you can not read it let me know and I shall try again.

[ims21]

Yes it is a bit blurred.

 

I wonder of those £25 fees are penalty charges....quite possibly.

 

If it were me I would send a Subject Access Request (SAR) to the lender to get all of the data on the account. This will include statements.

 

There is a template for SAR in the CAG library, the link to which is at the top of every CAG page on green. There is a £10 fee and they will have 40 days to comply.

 

Add a line to the SAR to say that it is to include copies of all and any agreements you have ever had with them.