Everyday Loans - Default Removal

[freshstart2015]

Hi All,

 

 

I am working to clean my credit file as much as possible over the next year.

 

 

The biggest problem I have is a default from Everyday Loans which is currently with Lowells.

I fell into dispute with Everyday some years ago after they were unable to demonstrate how they arrived at their figures.

 

I have not paid or acknowledged anything to Everyday/Lowell since May 2011, but I cannot ignore the issue any further.

As always it's a long and complicated story but I will try and break it down into small chunks...

 

1. The loan was taken out May 2009 for a sum of £1500, repayable over 23 months @ £186.09 per month,

this included PPI and a "secondary loan" for life cover and personal accident cover.

 

2. In September 2009 I encountered a period of financial difficulty, missed a payment

and then rang everyday who agreed to reduce my repayments to £163.45 per month, so a reduction of £22.64 per month.

This was all done over the phone and I signed nothing nor received any paperwork.

I was told they could do this as they had cancelled the life cover etc...

 

3. I continued to pay at the reduced agreed repayment of £163.45 per month until May 2011.

I rang Everyday and asked for a balance figure as we had not received a statement from them

and we were now nearing the final payment on the loan, or so I thought.

 

4. In May 2011 Everyday sent a statement to me claiming that I still owed £5923.85p!!

I obviously refused to pay until they could demonstrate how they had reached such a figure.

I also noticed that our duration of agreement had jumped from 23 to 52 months.

 

5. Everyday passed the debt to a DCA in 2012 (Town & Country Collection)

 

6. In May 2013 we received a statement from Everyday for the period May 2011 to May 2013,

this detailed that we had not paid anything in 2 years which is correct,

they had added on £25 per month in overdue fees until January 2012.

Again the duration of the agreement had jumped from 52 months to 57 months.

Though the balance had mysteriously dropped to £4607.38p

 

I have been looking through the paperwork, but I am struggling to get my head around the figures on the original CCA.

My APR calculations are coming out with completely different figures.

 

Could someone please take a look at a copy of my CCA (attached) and tell me if it is

enforceable??

 

Many thanks in advance for any help offered.

[fkofilee]

From view, i think the Agreement is enforceable. However whats the status with Lowell?

Whats happening with them? Have you spoken to them?

 

Im guessing Lowell now own this... Well lets see here.

Looking at the agreement, yes it says 23 monthly payments. 23 months.

Late payment fees / penalty fees are reclaimable. Time to SAR Everyday Loan i think.

[freshstart2015]

From view, i think the Agreement is enforceable. However whats the status with Lowell?

Whats happening with them? Have you spoken to them?

 

Im guessing Lowell now own this... Well lets see here.

Looking at the agreement, yes it says 23 monthly payments. 23 months.

Late payment fees / penalty fees are reclaimable. Time to SAR Everyday Loan i think.

 

 

Hi Thanks for your reply, I haven't heard anything from Lowells since 2013 but it is still actively updated on my credit file. Just about to put a SAR together at the moment just looking through the paperwork that I already have.

[fkofilee]

WOnder why it jumped up by sooo many months... SAR will tell. I suspect foul play but lets see...

[freshstart2015]

I would be grateful if someone could double check the APR's for me. I cannot post links but I have used Prudent Minds APR calculator with the following data:

 

 

Main Loan

********

 

 

Loan Amount: £1500

Admin Charge: £100

Monthly repayment amount: £143.56

Number of monthly repayments: 23

 

 

It calculates the APR as: 174.3%, CCA for Main Loan shows APR as being 98.6%

 

 

Secondary Loan

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

 

 

Loan Amount: £444.40

Admin Charge: £0

Monthly repayment amount: £42.53

Number of monthly repayments: 23

 

 

It calculates the APR as: 149.3%, CCA for Secondary Loan shows APR as being 84.6%

[dx100uk]

PDF the upload please

 

 

if everyday has changed the terms of the loan agreement from those you signed

and you've not signed a new agreement...

 

 

then its unenforceable and needs to be removed from your credit file totally

 

 

get that sar off

 

 

the rest I wouldn't really bother about

 

 

its immaterial.

 

 

sounds like the usual trick welcome finance did over the phone.

 

 

on a regular basis

they filled out a new agreement and signed it on behalf of the customer

[freshstart2015]

PDF the upload please

 

 

if everyday has changed the terms of the loan agreement from those you signed

and you've not signed a new agreement...

 

 

then its unenforceable and needs to be removed from your credit file totally

 

 

get that sar off

 

 

the rest I wouldn't really bother about

 

 

its immaterial.

 

 

sounds like the usual trick welcome finance did over the phone.

 

 

on a regular basis

they filled out a new agreement and signed it on behalf of the customer

 

 

Ohh yes I am well aware of WF tricks! I have some statements as well so will upload the lot in PDF format.

 

 

Many thanks to all for your speedy responses.

[freshstart2015]

Ok I have now converted all the docs to PDF.

 

 

Thanks

Edited January 25, 2015 by freshstart2015
Removed account number.

[freshstart2015]

in summary when I encountered financial difficulties and spoke with Everyday,

 

 

they "kindly" reduced my monthly payments by £22.64p.

 

 

But failed to inform me that they would charge me £25 per month for the privilege

 

 

and that my term would be increased from 23 months to 57 months or 52 months depending on what statement you are looking at!!

 

 

Obviously had I been informed of the full repercussions of reducing the payment by 20 quid a month I would never have agreed to it.

[dx100uk]

2 of the atts have the account number showing unapproved

 

 

dx

[freshstart2015]

2 of the atts have the account number showing unapproved

 

 

dx

 

 

 

Sorry confused atts??

[dx100uk]

oh dear all made of PENALTY charges & PPI

get reclaiming.

[freshstart2015]

oh dear all made of PENALTY charges & PPI

get reclaiming.

 

 

 

To be honest, I just want them to clean up my credit file. I have rented a house for the past 11 years, last week the land lord dropped a clanger that he wanted to sell up at the end of my term. My credit file is largely clean except for this defaulted account and I desperately want to climb on the property ladder.

 

Thanks for pointing out the account numbers, will remove them now and re-upload.

Edited January 25, 2015 by freshstart2015

[freshstart2015]

Documents now fixed.

[dx100uk]

when is the default

 

 

dx

[freshstart2015]

when is the default

 

 

dx

 

 

 

According to my credit report the default was placed on 30/01/12, however my last payment to Everyday according to the statement was on the 31/05/11.

[dx100uk]

the loan agreement is totally un-en.

 

 

no total charge for credit or anything..

 

 

you realise 23*186.09=4280.07!!

 

 

 

 

where is the org 23mts loan statement?

 

 

dx

[freshstart2015]

the loan agreement is totally un-en.

 

no total charge for credit or anything..

 

you realise 23*186.09=4280.07!!

 

where is the org 23mts loan statement?

 

dx

 

From recollection I never received a statement prior to May 2011, hopefully I will see one come through as part of the SAR.

 

As I said above my primary aim is to get them to clean my file and disappear from my life

 

I am hoping if I can get enough dirt together on how I am entitled to refunds on PPI, unenforceability etc

then I would give them 2 options either clean my file and as far as I am concerned case closed,

or alternatively I will pursue them for every penny I can.

 

Thank you so much for your help so far.