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Am currently involved in situation with a loan from Together whereby they have served default notice and appointed LPA Receivers - who are trying to push towards auction of commercial property that loan is secured on, which obviously we do not want to do.


Both the Lender and the LPA are not helpful in any way and the LPA is not acting on behalf of the Borrower given that the arrears is £1,600 and the figure the LPA-R wants is just short of £4k, and the Lender is charging another £2k for appointing him!


Statement of account lists various charges such as 'Property Company Management Charges £xxx Professional Costs £xxx (this was followed 5 days later by exactly the same item - and amount!)


I asked for an explanation of what these were for and proof of 'work' carried out when I know nothing has been done,

Together stated that 'the charges are explained'.


Eventually I have discovered that the LPA-R is actually the Property Management Company which is nice, and completely undisclosed by the Lender or the LPA-R who in theory is supposed to be working on the borrowers behalf.


On the statement of account, for the 27 months the account has been running, the charges on the account actually total circa £6,500 - with the receivers costs on top, so a five figure sum.


I was wondering if anybody else had encountered similar situation with regard to Together and their LPA-R of choice Waterfold, and if there was any advice as to how to deal with them and obviously challenge the 'plucked from thin air' fees?

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Thread moved to Mortgages and Secured Loans Forum...please continue to post here to your thread.





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please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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That's part of it but to an extent the situation at the time meant it was done, but at no point did terms say your LPA Receiver could just add charges for doing nothing, whilst the Lender allows them to do it, whilst they also add charges for the same things, double bubble

- must be a degree of collusion surely.


Whatever it is it isn't ethical and also having unregulated LPA-R industry allows them to have many hats; receiver, property management company, professional fees collector, estate agent, property disposal expert etc etc all whilst needing no qualifications!!

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collusion or not

how much money do you have to fight this as the pot you need will be a lot bigger than the value of the debt.

You will need to bone up on the recent scandals involving lloyds bank and RBS commercial restructuring arms and see if there is anything you can use.


Now doubling fees etc is known as "churning" and may well be unlawful but again, they are adding to the bill every time you query their costs and methods.

If you have the money it is sometimes easier to pay up and then sue afterwards but all actions have their risks

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