Unsecured Loans Now secured on property loads of interest what options now?

[dx100uk]

5 threads on the same debt merged for history.

 

 

dx

[AndyOrch]

Hi Dan

 

If you can get hold of the original summons and in particular he Particulars of Claim....what did they plead with regards to post judgment interest?

 

Regards

 

Andy

 

Hi All,

 

After the collapse of my business when the credit crunch hit we were declared bankrupt about 2 years ago (and discharged a year ago).

 

During our money troubles I went to pot and couldn't deal with anything properly which has resulted in two of our unsecured lenders securing what we owed as second charges against our property.

 

The worst behaved of the creditors will probably not be a surprise, Link Financial.

 

Basically when Link took over the debt we received one call from them which went like this .....

 

LINK: You owe us £6800 how are you going to pay?

ME: We don't have £6800 as we are having financial difficulties but I can make a token payment?

LINK: We will have to take you to court then. Paperwork will be in the post.

 

True to their word the court papers arrived and were filed at court and as part of the process I sent a statement to the court advising that we had never refused to pay but were having financial difficulties as well as suffering from depression and would be will to make whatever payments we could towards it.

 

I'm still unsure why but the long and short of it is that the court awarded a CCJ, then secured the debt against our property and THEN gave them the go ahead to charge us 24% interest on top of a debt we already couldn't afford?????????

 

The debt has now increased by another £10000 but we would like to get straight so wondered what if anything we can do to return the debt to somewhere near it original amount?

 

Can only advise when you answer my last post Big Dan

 

Andy

[Big Dan]

Hi Andy,

 

I have scraped the majority of the paperwork together now so will try and get it all scanned on over the next few days........

 

Dan

[AndyOrch]

They can only claim interest if they have included it within their particulars of claim.

 

Andy

[Big Dan]

Hi Andy,

 

Particulars of claim attached and do state that they reserve the right to charge post judgement interest but we have several letters (a copy ofone i have attached) which state "We will not ask you to pay any more than the amount you would have paid if you had continued to pay your account as per the original terms of the agreement"

 

This would be £8000 or so.

 

Dan

[dx100uk]

you'll need to pdf those please

 

 

dx

[Big Dan]

Hi,

 

We are just going over our finances as we approach the end of a bankruptcy and have had a bit of a shock whilst looking over a contract we had with GE Money.

 

Both myself and my wife were under the impression that we had signed up for 0% finance but from the contract it appears in fact that we were charged 23.1%!!!

 

However we have several other issues with the loan and how it was sold.

 

Firstly shortly after moving to our address we were door knocked by a Safetyle salesman and very naively during what was meant to just be a quotation we were railroaded into signing up for new windows and doors as they had an offer running which ended within days (Yes i know now).

 

Secondly we were told that the whole amount including interest would be £8000 or so as per the paper work we were shown which states Total Cost......

 

Thirdly the paperwork we have has not been signed by the salesman or anyone from GE so this leads me to question whether the loan is enfoceable at all.

 

We have several other issues with GE following a period of financial difficulty during which they applied numerous charges and then sold the debt to a collection agency but would be interested to have thought on the actual contract this is all based on.

 

I've attached scans of the paperwork.

 

Thanks

 

Dan

 

Try these

docs1.pdf

[dx100uk]

pretty much std fair for GE

add loads of charges then flog it on...

so what is your actual problem?

 

the debt is still outstanding and DCA's are chasing?

[Big Dan]

I have numerous problems with it but how helpful any of them are is questionable firstly there is how we were sold the loan.

 

Then how GE refused to help us when we got into trouble before harassing us on the phone almost daily and then adding loads of charges.

 

Then how they sold the debt despite refusing to help us to Link Financial.

 

Then Link refusing to help us, accept any payment or stave of court proceedings while we got ourselves together.

 

The court for allowing Link to get CCJ, and then Charging Order on our property before then allowing them to charge interest on the "debt" and doubling the amount we owed.

 

And now that the debt is attached to our property preventing us from refinancing as they wont accept any reasonable offer of settlement.

 

Apart from that not much ;-)

[dx100uk]

ah merged with an old thread...we now have the fuller story too

 

I see this was a merge of 5 other threads that you've asked about this before on....

 

so its all down to post judgemental interest which I think you said was mentioned in the particulars but that upload was lost in our virus attach 18mts ago.

 

i'll let andy revise the thread.

but it looks like you are stuck with it..

[AndyOrch]

If you could possibly re upload the particulars of claim as per post # 30 above.

 

Regards

 

Andy

[Big Dan]

Will get them scanned tomorrow night.