Acenden/SPPL/HOW TO CHALLENGE LEGALLY

[MMSPRB]

Dear all,

I am new to this forum. I am wondering if you can help me Please. 

We took a loan of £32000 and we pledged the property for that with SSPL. 

After paying every month, £263, since 2007 when I called them they said the outstanding remaining is nearly £29000. 

And all the payments that we have paid since 2017 are being taken to cover JUST interest costs. 

Roughly we have paid : 

£263 X 12 months a year X 11 yaers=£34716 

( all the above calculations are approximate figures) and on top of that, we have paid so much on charges, fees, missed direct debit fees, and at one point court fees ( and we settled that without going to court).

At that time we took the loan it was arranged through a broker as we had financial difficulty and my husbands business was not at all doing well. 

Could anyone please help me as I feel that its really not fair terms and conditions. And now they say to close the account I need to pay nearly £29000. I am really worried and they say the term left on the mortgage is 17 years still remaining and if I continue to pay this amount for another 17 years then I kind of will end up paying nearly £100, 000 for a loan amount of £32000. I am not sure if someone also experienced similar issues. I will be grateful if someone could shed some light on this issue, please.

Many thanks in advance.

 

 

[dx100uk]

quite usual sadly for this lot.

 

have you all the statements?

if not send them an sar and get them.

 

 

[MMSPRB]

Many Thanks for your reply. I have got most of the documents. But still, as suggested I will apply to get the information they hold using SAR form.

Once I get the documents could you / anyone guide what could be done, please. Many thanks 

[Setting Record Straight]

I am going this route too. Time to set the record straight! Escaped having my home repossessed in 2012. Sold it bought a smaller home outright using the equity. Acenden piled on huge "insurance" fees that I knew nothing about and which the court judge commented on. I have done nothing since as the fight for my home was so toxic and exhausting. The staff are total snakes  benefiting from repossessing peoples homes.

 

 I will write a SAR letter and see what they bring back to me. 

 

I note from reading the forum, that best course of action is to forget the FCA and Ombudsman and go straight to small claims court. Good luck to you!