Advice Needed Regarding Tesco Loan

[Gary Edwards]

Hi and thanks in advance.

 

I wondered if anyone could tell me if I am being, or have been, treated fairly with regards to a debt i have been paying off for some time now.

 

I originally took a personal loan of £15k to buy into a business.

It wasn't secured on the house I own, as at the time I was quite credit worthy and didn't expect there to be any problems.

This was just before the recession.

The business that we had worked hard to build up failed.

Sadly my marriage did also.

 

I started to fall behind on my payments and tried to negotiate with Tesco, but was given short shrift.

The people I spoke to made no secret of the fact

that they would proceed with a view of repossesing the property I own with my ex wife,

if their demands were not met.

 

 

The loan agreement was approx £170 per month, but they were demanding over £300 per month at a time when I simply couldn't afford it.

 

 

They then placed a charging order on the property.

 

 

Work for me at the time was sporadic, I am a builder and very little work was taking place at that time.

 

 

I was staying on friends couches etc and paying them everything I could afford.

 

I have religiously made these payment (on average £100 per month) for nearly a decade,

and assumed that the debt would have been reduced significantly.

I was informed that the debt had been frozen when I defaulted

and it was passed to a debt handling company.

 

Over the last couple of years I have worked 7 days a week to build a company up and things have gone well.

I am now in the position to be able to face some of the demons of the past

and so requested a breakdown of whatever debt was still outstanding from Tesco.

 

 

You can probably guess the next bit.

They have been charging interest ( I think at 5.9% PA) for the entire duration since I defaulted. I was staggered.

I assumed that it would have been down to a nominal figure.

 

 

I haven't spoken to anyone including Tesco, or the various companies that have pursued the debt on their behalf.

I wanted to find out as much as I could before I did so.

 

I am hoping I have some form of case here.

The irony is now I can actually afford to pay the figure off in full immediately.

It's just that they categorically informed me that the debt had been frozen when the account went into arrears.

 

I am happy to supply as much information as I have if needed. Any help with this would be greatly appreciated.

 

I have used CAG in the past to help a friend who was threatened with having her home repossessed.

The outcome was.......She is still happily living there!

 

Thanks for reading.

 

Gary

[Guest]

when was the charging order, was there an instalment order re the judgment?

what was the judgment, what did they claim. presume an amount plus statutory interest?

[dx100uk]

you indicate this has been passed around sibce rthe CCJ/CO?

who got the CCJ

who got the CO?

 

 

if its been passed around, sadly this smacks of you being cash cowed

esp if its been passed around between DCA's

 

 

has who you were ordered to pay stayed the same since the CCJ/CO was granted...I fear not.

 

 

dx

[Gary Edwards]

Hi Ford,

 

Thanks for the reply.

 

Sadly much of the paperwork I had was lost when I was couch surfing, but will go through what I have got and get back to you.

[Gary Edwards]

Hi Dx,

 

Thanks for the reply. I believe it was brought by Tesco originally, but will get back to you on that. It has been handled by a couple of companies/solicitors one was Incasso, another Shoosmiths.

[dx100uk]

you should only be paying the claimant or their named sols

 

 

oh dear those names are rather suspect in these cases.

 

 

dx

[Gary Edwards]

Hi dx,

 

Sol=solicitor?

 

Excuse my ignorance. I think I have a fair bit to learn on here before I proceed with whatever course of action deemed sensible.

 

One thing I can tell you is I am up for a fight

[dx100uk]

well info gathering is your main task for now.

 

 

sar to Tesco wouldn't hurt either.

 

 

are you SURE it was Tesco that took you to court

not a debt buyer/DCA?

 

 

dx

[Gary Edwards]

Hi dx,

 

No I'm not 100% certain. I do have paperwork that I will go through to check. Sorry but what is a SAR and how do I do one?

[dx100uk]

click the sar link

dx