Lancashire/Blenheim/Together~ Extortionate fees~Loan never ends

[jackthepippa]

Can someone please advise me as to how I can look into the extortionate charges added by this company.

 

We have the same situation on a Commercial car workshop. (Self employed, sole trader)

 

One main loan and 2 smaller.

 

One is paid off but still has a balance outstanding which are charges.

 

I cancelled the DD at the end of the term and there was still outstanding.

 

The loans are in my ex's name but they have got my name on one..This is a total mistake!

 

They keep adding £100 charges for arranging their own business insurance

and then they tried to repossess but we managed to catch up.

The charges are as bad as the smaller loan I suspect at around 6K over 10 years.

[Sick Of Legal Bullies]

I was successful

 

-what I did was to write to LMC Head Office and ask for a full explanation and breakdown of all their costs over £30.

 

They then said there had been a mistake and refunded £10,000 in fees-

 

However, watch them they are sly

 

-How did they mistakenly add your name to the loan?

 

Sounds strange?-Challenge their every move

 

-but watch them they do not play fair.

[jackthepippa]

Hi there,

Thanks for your fast reply.

 

They originally lent 1 loan as a business development loan.

 

Because the business struggled and the overdraft from NatWest became unmanageable, my ex borrowed again and again. (3 loans)

 

The last loan was put in both names but I am not named on the Business whatsoever.

 

I informed them of this and they produced a second copy of the agreement without my name on it.

 

However, still my name is appears on statements & correspondence for one of the loans.

 

Can I also request copies of the original agreements?

 

Do I need to quote amy rights/laws in my letter or is a simple request email sufficient?

 

Thank you.

 

The loans have only a year and a half to run and we have complained to them many times about harassment when they know our circumstances!

[Sick Of Legal Bullies]

I would ask for a SAR they then have to send you copies of all correspondence-

 

Personally, I wrote them a letter asking to explain all their charges over £30-

 

but you have to keep at them they are not nice.

 

If you need to use a solicitor I can recommend an excellent reasonably priced one?-

 

Word of advice-do not ring them-put everything in writing.

[jackthepippa]

Ok thanks for that. Yes I could do with a recommended solicitor as I have issues with my dad's property and the disregard rules with carehome fees. Please feel free to PM me if such info is sensitive.

[AndyOrch]

If I may remind you of the Forum Rules......

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection.

 

Regards

 

Andy

[jackthepippa]

Ok thanks. I was trying to be mindful of not advetising unfairly too.

 

 

I'm concerned my latest issue falls into commercial law areas so am unsure how to proceed in which case.

 

 

Or even to obtain recommendations. It's very hard as Judges seem to intensely dislike litigants in person..Or am I being paranoid?

[citizenB]

Citizen Advice usually have a list of local solicitors who might be able to help you. You can arrange a half hour or reduced fee initial session to see if they are the right team to take on the work for you.

[dx100uk]

if your signature is NOT on the agreement of any loans you are paying

I seriously question WHY you are paying it

 

 

get a CCA REQUEST off to them.

 

 

dx

[steampowered]

jackthepippa, the area of law for this is just general civil litigation

[suffering]

push them on your charges

 

they seem fearful of a court action going against them for charges

 

they wiped off £50,000 charges from my debt when challenged,

this was £16-£18k a year renewal fee

 

this company is dangerous and work on the basis that most people will not challenge them

[andrew1]

Can you tell me exactly if you know the answer please, on what basis did they tell you they were wiping those charges off your loan for suffering?

 

I ask because I took a Sub-Prime lender to court over aspects of my agreement with them, part of that claim was against charges being penalties, but it was not the main thrust of my claim (which is another story altogether), but their solicitor came across to me in the courtroom before the hearing commenced and said they were wiping all charges from my account and would not be charging them in future either....

 

.now this company are not noted for their kindness for the better good, but I didn't question precisely why they'd made that decision as it wasn't obvious at the time. Whilst others were being thrashed to hell with their charges, I got none (and these were general account charges, not litigation), so I wondered if you actually knew the real reason they wiped them rather than it being some kind of goodwill gesture?

 

A1

[jackthepippa]

Family business took out 28k loan with Lancashire Mortgages 10 years ago.

repayments 402 per month. interest 8.9% I believe.

Due to finish in 6 months time

 

after challenging outstanding balance of 25K it would appear they have been charging literally thousands of pounds in fees.

 

Example..If payment made a day late a £300 charge seems to appear.

They claim its £35 per call but in reality its quoted as much £300 each month.

They are trying to get us to accept a minimal refund in writing but I suspect this is a ploy to avoid the true fact of amount that should be refunded.

 

Is there any legislation to contest this?

 

Also the building's insurance block policy has been added as this appeared to be a better deal

than any that could be sourced to satisfy the terms of the loan.

 

So although I can see a £4000 discrepancy plus 8% interest it doesn't add up to 25K.

 

Any ideas how these loans work?

Or what to do next.

 

Im concerned it is a business secured loan which may not be covered by the regulating bodies.

 

Thanks in advance.

[Sick Of Legal Bullies]

You need to challenge these bullies in court.

 

 

Ask them to provide a list of all charges applied to your account since inception.

 

 

Then ask for a full breakdown of any charge over £30.

These bullies need stopping!

[dx100uk]

sar time first

reclaim all the charges

[jackthepippa]

sar time first

reclaim all the charges

 

They've sent a 'War and Peace' sized document of terms, contract and charges.

They have offered some refunds of some charges..By no means not enough.

 

However, they want us to officially accept their offer in writing and enclose a prepaid envelope.

 

They then go on to say that we can't take this to any regulator as it is a commercial loan..??

 

Your thoughts please.

[dx100uk]

have you made a spreadsheet of all the charges?

 

why did you need to have buildings insurance on a commercial premises?

 

was it your or was it a rented?

[AndyOrch]

Owner of the property pays the Building Insurance..not the tenant..so you are the owner?

 

Andy

[jackthepippa]

have you made a spreadsheet of all the charges?

 

why did you need to have buildings insurance on a commercial premises?

 

was it your or was it a rented?

 

Yes we own workshop and as the loan was secured on it, they wanted the building protected. They charged £30 for being added to their block policy each year and £100 each year, for doing this..But then duplicated these same charges to a small secondary 5 year loan (Now paid up in full) but it only came to light when final statement released with outstanding balance. This was always paid on time. Challenged why there was an outstanding amount and this was flagged up.. This company are unbelievable!!

[jackthepippa]

Owner of the property pays the Building Insurance..not the tenant..so you are the owner?

 

Andy

 

Yes that's correct Andy.

[jackthepippa]

Yes we own workshop and as the loan was secured on it, they wanted the building protected. They charged £30 for being added to their block policy each year and £100 each year, for doing this..But then duplicated these same charges to a small secondary 5 year loan (Now paid up in full) but it only came to light when final statement released with outstanding balance. This was always paid on time. Challenged why there was an outstanding amount and this was flagged up.. This company are unbelievable!!

 

Golly no I hadn't even considered a spreadsheet but yes I'll give it my best shot..

Charges are absolutely mind blowing, so yes that's an excellent idea. Thanks