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Posted (edited)

Hi Folks,

 

Entered into some financial difficulties a while back and the debts are piling up, I have now got Lowell chasing 4 separate debts, so will create thread for each???

 

This one is 118118 a fixed term loan for an outstanding balance of £2485.92

 

I wrote and followed the procedure and requested the CCA and they have responded with the following, I'll type this as my scanner is broken:

 

Dear ********

Thank you for contacting us about this account.

We enclose a copy of your credit agreement with 118 118 money. This is a reconstituted agreement - which includes all prescribed terms as required by the Consumer Credit Act 1974.

We also enclose copy statements.

We have included a Frequently Asked Quesitons sheet which, hopefully, answers any queries you may have regarding these copy documents.

We trust that this now answers your query and look forward to hearing from you to discuss affordable repayment options.

If you do have any further questions, please call us on 03335565733 or email post@lowellgroup.co.uk.

You can also view information about your account(s) on our website at www.lowell.co.uk

Your sincerely

Sarah Sargent

UK Director of Customer Experience

 

 

 

118118CCA.png

Edited by eoghan
Uploaded copy of CCA

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Dud you have lots of debt and defaults on your file when you got this...

irresponsible lending complaint time to 118118 if you did


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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Honestly can't remember, most likely, the loan was taken out in 2016.

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well go look

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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Clear Score Report:

Creation - 28 November 2016 - £200 still paying

Motonovo - 12 October 2015 - £6100 - still paying

Shop Direct - Now Lowell - 25 May 2016 - £424

Shop Direct - Now Lowell - 9 March 2004 - £727

Marbles - Now Cabot - 6 January 2015 - £207

HSCB CC - 14 November 2016 - £1786

Vanquis - 22 June 2011 - £2739

Barclaycard - 1 September 2015 - £4168

?? - Now Cabot - 9 November 2016 - £1340

118118 - Now Lowell - 11 September 2016 - £2485

 

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are all these defaulted 

that's the important bit...

 

dx

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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These have all defaulted and are at different stages of comms from the relevant companies:

 

Shop Direct - Now Lowell - 25 May 2016 - £424

Shop Direct - Now Lowell - 9 March 2004 - £727

Marbles - Now Cabot - 6 January 2015 - £207

HSCB CC - 14 November 2016 - £1786

Vanquis - 22 June 2011 - £2739

Barclaycard - 1 September 2015 - £4168

?? - Now Cabot - 9 November 2016 - £1340

118118 - Now Lowell - 11 September 2016 - £2485

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moved to the PDF forum

great stuff then 

go start an IRL complaint to 118118 it will blow lowells claim out the water

 

 


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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Hey folks, sending the following IRL Complaint unless advised otherwise.

 

Cheers.

 

Formal Complaint Regarding Irresponsible Lending

Loan Ref: 

I wish to log a formal complaint in relation to irresponsible lending. To begin with, you should formally be aware, the FCA took over regulation of the credit market from April 2014 and then imposed caps on all high-cost short-term credit (HCSTC) in 2015.

These rules were set up to stop irresponsible lending and they included;

1.    Affordability checks for every credit agreement to ensure that only customers that can afford a loan can get a loan
2.    Rollovers:
a.    Limiting Rollovers to two;
b.    Limiting the number of attempts a payday lender to use CPAs to pay off a loan, to two;
c.    Information on where to get free debt advice will be given to every borrower that rolls over a loan
3.    Treat customers in arrears more fairly
4.    Do not relend to customers who appear to have taken numerous loans in a short period
5.    Report information correctly to the CRAs & limit daily interest to below 0.8% per £100.00 borrowed
6.    Default charges limited to £15.00 or less / Can only be applied once per loan

But also, the FCA stated that lenders should implement their own policy and change how they lend to customers. Well I believe you failed because:

1.    Before you were lending to me as shown in the statements provided by your company
a.    You did not do appropriate checks , should you have used the appropriate due diligence, you would have seen that I was under a tremendous amount of financial pressure with other loans that would have made this loan unaffordable
b.    Should you have done the appropriate affordability checks at the time of the loan, you would have seen I would have had more than one loan on the go and therefore a large proportion of my outgoings servicing already existing accounts
c.    On my credit file, I cannot find any searches that had been completed by at said time of loan being offered. While the searches may have disappeared, I would have expected to see some evidence that your firm did a ‘hard’ search to check my financial commitments
d.    I was using these other loans to pay off other loans to ‘companies’ and this ended up creating a spiral of debt

I am bringing this to your attention because I believe that you as a lender did not treat me with Due Respect or use Due Diligence and have allowed me to get into this position. I would also expect a company to check bank statements as part of their underwriting criteria, again you as a lender failed to request or examine any of my statements at the time the loan was offered.

I am also aware that lenders may not have used Credit Reference Agencies before regulations came in. However, although CallCredit was the main agency that firms did use if they did, I would still expect to see some form of credit check completed.

I await your response on how this complaint can be resolved by your company.
 

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looks to be like ours with the right questions

let others comment.

 

as for your other debts ..hope a CCA request etc has been action and you are not blindly paying a DCA without checks.??


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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I can now confirm that all DCAs have been sent the CCA.

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You also need to see notices of assignment under section 139 of theLOPa 1925, lso default notices under the CCA section 87 for all accounts sold to Lowell's.

 

136Legal assignments of things in action.

(1)Any absolute assignment by writing under the hand of the assignor (not purporting to be by way of charge only) of any debt or other legal thing in action, of which the assignor would have been entitled to claim such debt or thing in action, is effectual in law (subject to equities having priority over the right of the assignee) to pass and transfer from the date of such notice—

 

Please supply a copy of the default notice issued under section 87 of the Consumer Credit Act 1974. You will be aware that under the Act, a default notice is required before an action can be brought or account terminated.

In addition, a notice under the LOPA is required before an account can be assigned.


DO NOT PAY UPFRONT FEES TO COLD CALLERS PROMISING TO WRITE OFF YOUR DEBTS

DO NOT PAY UPFRONT FEES FOR COSTLY TELEPHONE CONSULTATIONS WITH SO CALLED "EXPERTS" THEY INVARIABLY ARE NOTHING OF THE SORT

BEWARE OF QUICK FIX DEBT SOLUTIONS, IF IT LOOKS LIKE IT IS TO GOOD TO BE TRUE IT INVARIABLY IS

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Good stuff. Cheers.

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those are for later


PLEASE DONT HIT QUOTE IF THE LAST POST IS THE ONE YOU ARE REPLYING TOO.

MAKES A THREAD TWICE AS LONG TO SCROLL THROUGH!

 

WE CAN'T GIVE ADVICE BY PM - IF YOU SEND ME A LINK TO YOUR THREAD - I WILL BE HAPPY TO OFFER HELP THERE

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI Read Here

3. Reclaim Bank Account, Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial Read Here

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