Asset/TM/Perch claimform - old lending stream PDL debt

[fkofilee]

Hi Andyorch

 

It depends; Some PDLs were issued under section 78 - these were similar to credit cards but were an amount that you draw down from as a running credit facility.

Some clarification would be needed to make sure this wasnt a running credit account and was a Fixed Term Loan Agreement.

 

I think Lending stream once upon a time may have done a product like this.

[AndyOrch]

Okay in that case best to refer to both......defence amended.

[fkofilee]

FWIW - Interestingly enough with this one - If they haven't sent the agreement then the defendant is unable to confirm under which section it falls

[AndyOrch]

FWIW - Interestingly enough with this one - If they haven't sent the agreement then the defendant is unable to confirm under which section it falls

 

Hence referring to both sections in the defence

[trullymadness]

don't forget pre action protocol...

did you check he got a letter of claim about 30days before the claimform?

 

No dx100uk, he did not received anything from them, just checked with him.

[trullymadness]

Thank you Andy, dx100uk, fkofilee, john8214:-)

My friend really appreciate for all you help.

[trullymadness]

Hi cagers, my friends defence is done on MCOL.

Now possibly just waiting time.

Still nothing from Assets in my friends letterbox.

Will post updates when something will happen.

Have all good weekend:-)

Thank you all

[trullymadness]

Hi all, a quick update to my friends case with Assets. Got a quick chat with him today.

He received a DQ from the court and should send it back till 29th March.

Do he need to agree with mediation and can he put his wife as a witness on it?

Thanks in advance.

[dx100uk]

yes to mediation

yes to small claims track

1 wit him

the rest is obv

 

3 copies

1 to court

1 to asset [minus email/phone/sig]

1 for records

 

no need to wait to send

[trullymadness]

Thanks dx100uk, will send him a msg today and he can send them out on Monday.

Edited March 17, 2018 by dx100uk
quote

[trullymadness]

Hi all, update on my friends case with Assets.

 

He received today through e-mail some paperwork from Assets including

 

a) Credit Agreement with Lending Stream

b) Default notice from LS

c) Notice of sum in arrears from LS

 

Very interesting about Notice of Assignment as my friend did not received it at all.

 

He send his DQ, court received and Assets send they DQ to court as well. But he still did not received DQ copy from Assets.

Do they supposed to send copy to my friend also?

 

If someone wants to see the paperwork received from Assets i will ask my friend later on to log in from my laptop on to his e-mail to make some copies.

 

Thanks in advance for help.

[jon8214]

Can you upload all paperwork received from Assest Management with pea info redacted

 

Upload as single PDF

[honeybee13]

Can you upload all paperwork received from Assest Management with pea info redacted

 

Upload as single PDF

 

I've unapproved the post that contains attachments with account numbers and so on still showing.

 

HB

[dx100uk]

Scan it up to one multipage PDF please

Read upload

[trullymadness]

Scan it up to one multipage PDF please

Read upload

 

Hi all, sorry for late post. Was trying to make a correct PDF file from docs my friend received from Assets. I`m not sure about quality but done my best. If anything is wrong again plz let me know. Sorry for any inconvenience caused. Thanks

29.03.18.pdf

[trullymadness]

Forgot o tell about Notice of assignment. It was send to my friends e-mail in doc. format with no companies logos on it and fully editable in Word, does not include even year of assignment, only date. And for account statement the last date of payment is questionable also (January 2014) and seems they made my friends £1 postal order as a payment towards loan.

[dx100uk]

default notice is void as it includes penalty/arrears charges.

 

unlucky Asset.

[brassnecked]

Shot themselves in the foot with those charges in plain sight.

[simonjohn]

I would also take a look at page 8 of the pdf Fixed sum lending agreement £8 default charge for arrears Not back in 2013 it wasnt It was £10 They may charge £8 now which gives rise to my suspicion that the agreement provided is not original or even properly reconstructed.

[fkofilee]

Without me being too blunt here - How can a DN be void if it includes penalty charges.

Shouldnt a DN include the total amount you have to pay under CCA1974 to resolve the breach?

 

Not trying to ruin any chances here but i am genuinely intrigued by this

[simonjohn]

As I understand it A Default notice must not misstate the arrears and by adding charges to the amount does just that.. Unlike overdraft and bank charges which are deemed a fee for a service, loans credit card charges are not a fee for a service and are assessible for fairness under UTCCR.

[dx100uk]

The relevant case law is Woodchester Lease Management Services V Swain and Co.

 

If the account/debt total includes penalty charges then, at the time of default notice issue, the amount required to rectify the breech would be higher than it would otherwise have been had no penalty charges been applied to the account.

 

looks to me as though all the paperwork is a tissue of lies then...

[fkofilee]

time for me to get reading

[AndyOrch]

The Court of Appeal has held that a default notice served by a creditor on a debtor, which substantially overstated the arrears due, was held to be invalid under the Consumer Credit Act 1974.

 

Facts. The case concerned an agreement for hire of a photocopier. The defendant failed to pay a quarterly instalment and the plaintiff served a default notice under section 88(1) of the 1974 Act, to enforce the agreement. The default notice was defective as it substantially overstated the arrears which were due. The defendant claimed that the default notice was invalid for failure to comply with the 1974 Act and the Consumer Credit(Enforcement Default and Termination Notices) Regulations 1993.

 

Decision. At first instance, the default notice was found to be valid, but this decision was overturned by the Court of Appeal. The court was influenced by the fact that the 1974 Act was enacted to protect consumers who, when contracting with financial organisations, are likely to be at a disadvantage when faced with complex standard form contracts. The onus is therefore on the creditor to inform the consumer what he has done wrong and what he is required to do to correct the situation.

 

The court held that the wording of section 88(1) of the 1974 Act, requiring the default notice to specify what action is required to remedy the breach of contract, must be read as meaning that a creditor should specify with reasonable accuracy the sum of money which the defendant had to pay to remedy the breach. The court commented that a deminimis error may be overlooked, but the substantial inaccuracy's in the case in question rendered the default notice ineffective.

 

Woodchester Lease Management Services Limited v Swain& Co, Court of Appeal, 14th July, 1998

[trullymadness]

Hi everyone!

It is a long time since my last post here.

 

I was looking for the way to post this update in previous topic but I didn't manage to do this and created a new one, sorry for the mess.

 

I finally get some updates from my friend in his case with Assets.

He needs to attend the court hearing on 7/10 and send the all supporting documentation to Assets or TM legal and court till 4 pm on 30/9. 

 

It is mentioned that there be permission for the Claimant to rely upon the witness statements of a named person dated 19/07/2019 pursuant to CPR.27.9(1)(a), also, the original documents must be brought to the hearing. 

I will need help from you, guys, to help further my friend.

 

As far as I understand there needs to be a witness statement.

What needs to be included in it?

 

My friend never attended any court hearings in all his life.

What exactly needs to be sent to Assets or TM legal and to court?

I really will appreciate any help to sort this out asap. 

 

Forgot to mention, the court papers are dated 23/08, he received them on 4/09 and on 05/09 he received an email from TM legal stating, that:

"Assets have assigned all of their rights title, interest, and benefits in and to your the lending stream account(s) referenced above to Perch capital limited.

 

Perch Capital has subsequently instructed TM legal to continue to manage the legal process and the collection of any outstanding debt on their behalf, This means that Assets no longer own the debt.

 

Perch Capital are now the legal owners, and TM legal have been instructed by Perch Capital as their legal representative in relation to your the lending stream account(s)."