Welcome secured loans/charge - sold to Alpha/Prime -repo received - ***Claim Dismissed***

[dx100uk]

tough luck on them then..

its only the judge that can force you to pay..and IMHO the whole debacle has not been addressed.

[cruzhughes]

No it hasn’t. But I really hope there’s some further progress in the new year

[shamrocker]

DX - are you including charges applied to previous loans that are not part of the current chain? I mean, anything pre-February 2006? This being the date that one loan was settled, then a break of eight months was had before a brand new loan was taken out, and subsequently culminated in becoming the first link of the chain that the current agreement.

 

The charges and interest from the October 2006 loan onwards wouldn't amount to the full balance. You most likely know all Cruz's loans better than me, so I'd like to hear your views.

[dx100uk]

have you still that google drive link?

[shamrocker]

Yeah.

[dx100uk]

it was settled via a re-write with welcome.

 

more soon

[dx100uk]

sadly i'd lost the train of this..

no ..no link in a chain.

[cruzhughes]

Loan 1 11/10/2001 For £7369.39 which had £1473.22 PPI and £130.00 Medicare added to it

 

Loan 2 rewrite on 10/06/2003 for £9809.68 and £1804.68 PPI.

 

Loan 3 rewrite on 31/03/2005 for £11423.67 and £1108.79 MIF. 17.80%@ £171.92 x 120 months

 

Loan 4 rewrite On 14/07/2005 for £13886.71 and £1352.87 MIF. 27% @ £272.06 x 120 months

 

Loan 5 rewrite on 29/12/2005 for £14792.00 and £1442.59 MIF 16.8% @ £189.11 x 180 months fully paid off in Feb 2006

 

New Loan no 6 taken out on 31/10/2006 for £8019.62 which had £1485.75 PPI, £180 life-care and £125 homecare with £2768.59 interest added to it.

26.5% @ £170.25 x 120 months

 

Loan 7 rewrite on 03/04/2007 for £14602.15 which had £2425.15 PPI and £175 personal accident plan with £3339.03 interest added.

22% @ £277.95 x 120 months

 

Loan 8 rewrite on 05/10/2007 for £26741.20 which had £4506.20 PPI and £10342.54 in interest added to it.

22% @£489.53 x 120 months

 

Loan 9 rewrite on 30/08/2008 for £30514.32 8.2% @ x £231.49 x 300 months. This is still running

[shamrocker]

sadly i'd lost the train of this..

no ..no link in a chain.

 

Ok, so only charges relating to the agreements from October 2006 onwards should be calculated by Cruz and deducted from the balance. Right?

 

Just checking we're all in agreement.

[cruzhughes]

I think the other chain that was mentioned before was that they didn’t provide that linking loan in court which was

 

Loan no 7.

 

They provided info on loans 6, loan 8 and 9.

But they didn’t provide 7 for some strange reason in all their exhibits. Seems a bit bizzare especially as they tried to show an application for further advance but missed the linking one 6 into 7, 7 to 8 then 8 into 9!

[shamrocker]

Who knows what their reasoning was, but I recall the charges that were applied to that particular loan being the worst of all.

Maybe that was the reason for them excluding it, or maybe it was just an oversight.

It's not relevant now anyway.

 

As I see it, let's just agree which charges and fees can be legitimately offset against this balance, then hit them with the revised balance and tell them they'll not be receiving a Penny more.

 

Furthermore, tell them that as they've chosen to ignore your constant complaints on this specific matter, that you have no other option but to advise them of your position and that they are welcome (pardon the pun) to, finally, engage with you on the matter.

 

The side issue is the monthly repayment amount. I'd like Andy's view on this.

 

DX - do you have a view on what Cruz should be paying each month, assuming there is a balance after fees and interest have been removed?

Edited December 31, 2018 by dx100uk
spacing

[cruzhughes]

I think it was Loan no 8 the fees and interest were the worse.

[shamrocker]

I think it was Loan no 8 the fees and interest were the worse.

 

Sorry...I mean in terms of the size of them and number relative to the short term. I recall it only lasted a few months before the next rewrite, but they blasted you with charges in that time. The cumulative total of charges on other loans were probably higher, yes.

[cruzhughes]

Between loan 6 and 7 6months between rewrites

 

Between 7 and 8 6 months too

 

Between 8 and 9 10 months

[cruzhughes]

Dx in middle of composing a letter with shams help.

 

The basis of the letter is deducting all fees but what we need to be sure of is wether I start from first loan in 2003 right the way through 8 loans. Or start at Oct 2006 onwards to last loan 2008 (4 loans) as there was a break of 6 months without a direct rewrite from Feb 2006 to Oct 2006.

 

As you can imagine There is quite a bit of difference between putting all the loans in. But I can’t go after welcome for the 1st 4 pre 2006. Due to the scheme. But as you know from your calculations there is sums outstanding there.

 

We are working out the balance and need to get this correct. As I don’t want to be in **** if it goes back to court. However I understand it’s prime who would have the prove the link/ no link.

[cruzhughes]

I can’t seem to acesss the drop box file you shared with me either

[dx100uk]

Check in later

[cruzhughes]

Where am I going with all this.

 

Do I sit tight or get the letter off?

[dx100uk]

working on getting lots of newer email stuff over to the google drive

i'll get there.

 

might give us a better idea when done..

 

in all the stuff.. is there clear proof the last loan before the gap and this chain resulting in this litigated loan number WAS paid off by was it a mortgage or something...??

[cruzhughes]

Thank you

 

Not in sar off prime no.

 

Welcome sar yes

 

Mortgage sar yes remortgage was in Feb 2006 funds paid welcome in Feb 2006. Settled loan no 722.

 

Break of 8 months then new loan 257 taken out Oct 2006 for around 8k with new legal charge applied

[dx100uk]

:thumb:

 

clear break then

thought id not lost the plot that much.

[cruzhughes]

On all the ones before 2006 a new legal charge was applied each loan with the previous ones being removed . The land reg doc new charges were Changed to date of charge being exactly the same as dates of newer rewrite

 

But from Oct 2006 charge applied on that date but the further loans/charges were not amended date wise on Lr. So in 2007 2006 Charge should have come off and registered charge should then have been April 2007 then Oct 2007 then Aug 2008

[dx100uk]

think that tallies with the changes around that time

and I think andyorch has previously related to this if not here elsewhere.

[cruzhughes]

I know that too. But just seems strange welcome didn’t do what they done on the last 4 that they consistently done on the first lot.

 

last loan legal charge was not witnessed and not signed in the presence of anyone it was left blank. Plus the signature on that one is well dodgy

[cruzhughes]

Fun and games with these again. I’ve recieved 2 arrears letter 10 days apart.... so that means I’m 2 monthly payments of 231.49 in arrears in less than 2 weeks.

 

Loan agreement states money is due a month after agreement date and every month after that. Agreement date is 28th of the month. So I’m presuming they were closed for 2 weeks over Xmas hence the date 4th of jan instead of 28th of Dec.

 

But how on earth can there be another month of arrears on 13th jan? When payment not due till 28th jan? I can count shame this muppets can’t..

 

Plus on the back of their letter they list their fees which are £51.60. But there’s £61.60 on these arrrears statment so extra £10 a time going on there

 

Even in court the last judge said I’m paid up to July 2019 on 231

 

Prime are saying

Nov arrears 74.83

Dec arrears 231.49

Jan arrears 231.49

 

Total arrears £599.41

Prime 4 +13th Jan .pdf