The Smiths v A & L Loan PLP

[Guest Battleaxe]

This is going to be interesting, i read the PLP T & C's to make sure I have it right.

 

We are starting off by asking to cancel it and refund the payments..hahaha. they are going to use every argument in the book to get out of this one and try to hit us with a £10.00 cancellation fee.

 

We have asked them to check the recording made at the time of the application and to check the questions I asked.

 

Nothing ventured nothing gained on this one either. If they cancel it means they will have to rewrite the loan ho ho, especially as the A & L have ruined our credit rating.

 

we also stated that we will be reclaiming all the premiums with contractual compound interest just to make it more fun.

[Guest Battleaxe]

Got two interesting letters from A & L yesterday; one with the Credit Agreement enclosed, yes it is properly annotated (shucks), but the letter was even more interesting in that i sent them a reminder asking for more details undder the SAR and still within the 40days to which they claimas I didn't request these details in the original SAR they don't have to supply them. Now I am wondering if I start the SAR process all over again and request the lot again. I am fter the the emails they have sent in house and the telephone logs and all the other bumph they hold on us.

 

The other letter claiming they are surprised that we have put the account in dispute as they have no record of us complaining. Hellloooo??? Why have I been writing letters and telling that on the phone that the account is in dispute.

 

Any advice? Any Views?

[Guest Battleaxe]

Update. Cheeky beggars are wanting £10.00 for the telephne recording of the loan application.

 

I contacted FOS and ICO by phone regarding this and have sent a letter to A & L regarding this as a courtesy and telling them that formal complaints are being lodged with FOS and ICO.

 

Have completed the complaint form for FOS, copied all letters to and from A & L finance.

 

The best bit regarding the Section 77-78, they have sent us a copy of a faxed copy of the agreement.

[Guest Battleaxe]

On Wednesday evening I get a call. Caller identifies herself as Mrs Woods from A & L. I say who I am after she asks for Mr Smith or Mrs Smith, she then launches in to the security bit. I tell her to tie ho, and remind her she has called me. She immediately says, oh well I will have to write to you.

 

Letter arrives this morning simply states Balanced owed and arrears Please telephone us immediately on 0870 578 5132 to discuss the outstanding arrears on the account.

 

So I have written back on the bottom of the letter NO! FOS is investigating. Until the insurance component is removed, the telephone recording supplied and the loan principle and terms renegotiated we will not be contacting you.

 

Copy sent to FOS.

 

They are triers, but what part of dispute and investigation don't they understand? They know what we want and they wont play.

 

We are prepared to sit this one out.

 

Funny thing, I have a copy of credit file from CallCredit and account showing BB BB AA AA OK OK OK OK OK OK U on it, but the default is not there. I was expecting to see it. Looks like a letter to the CRA regarding this and a notice to be placed on the file.

[Guest Battleaxe]

Have had a leter back from the FOS. A & L have eight weeks address our complaint. if they don't make contact about this or reply to the FOS, it goes back for the FOS to rule. I think A & L got a shock that I took it to the FOS. They have put a deliquent marker on our credit files, so I think the ICO needs to be notified about this matter. I am not making another payment and haven't since this was put in dispute four months ago over the mis-sold insurance policy.

[Bigmac versus]

Hi Battleaxe Interesting story so far and they will not be happy at the complaint with the FOS as this costs them money too, for every complaint made the banks are charged £600.

Good luck

George

 

 

 

 

 

 

 

 

 

 

 

 

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[Guest Battleaxe]

Thank you Bigmac,

 

There is a principole involved here and yes it could be argued we also have to pay on principle, but as they are not prepared to even meet us half way and even if our credit rating is down the pan for the time being this can be repaired with the ruling from the FOS and a notice placed on our credit file, the the ICO can direct them to remove any markers they have placed durign this dispute. MBNA renegotiated the loan I have with them, yes it took three months, but A & L are intransigent. I think the time has come that these banks have to realise they cannot have it all their own way and it was because of the A & L banking side that we were pushed down the path of the loan. They wont part with the recording because there is something on it that their operative told me, he virtually coached me through the application, so when I got the application form back, it is full of mis information and if that is shown in Court, it will show the complete loan was mis-sold not only the insurance component.

 

If the MIB from A & L are reading this, it wont take much to put two and two together. Apparently A & L have nominated a Mrs Griffin to negotiate with me, according to the letter I have from the FOS. I will not be contacting her, she will have to write to me. I will not negotiate over the phone, I want it all on record for future reference.

 

A & L have had to pay the FOS £1200.00 this week because of the two complaints I have lodged. never indicate na na nee boo boo to me, I will always up the ante.

 

Of course if A & L sell the debt, they are going to be in even deeper doo doo, as I have never said I wont pay, I have asked for the loan to be re-written, insurance component removed, the advertised rate of interest, because up until this time we have never had a black mark regarding loans and the A & L current account made the first mistake by not paying the DD when it was due, when the money was in the current account to pay this.

 

Oh yes, it is about time we stuck for ourselves and break this cartel of money making (usury is a better word).

 

I have always been an advocate for Credit Unions and one is needed in this area badly. This would break the hold the banks have over people. Even if I won the lottery, I would not acquiese on this one.

 

My other alternative is to pay at the interest rate they advertised on the principal of the loan and remove the insurance component or just pay the principal component for the original term of the loan until they negotiate.

 

Whatever way they will have to re-write the loan and if they don't back to the FOS.

[Guest Battleaxe]

Another attempt by A & L and not what we asked for and I am certain the not what the FOS suggested.

 

Got a letter this morning from Stephanie Hueston Customer Care Consultant, has she been demoted?

 

I refer to your recent communication via the Financial Ombudsman. i am very sorry that my response of 29 November 2006 to the issue raised regarding the insurance cover was unsatisfactory

 

Whilst my investigation shows that there was no error made on the part of Alliance & Leicester, as gesture of goodwill and a genuine attempt to resolve your complaint, I am offering to remove the cover from your loan and place the premium's back on to your account in order to assist with a reduction of arrears of £1300.15. This will amount to a reduction of £251.61, eleven payments of £23.51.

 

If you are in agreement with this offer, please sign and return the enclosed copy of this letter in the prepaid envelope provided within the next 28 days.

 

Guess what is going back in the prepaid envelope and certainly not an acceptance.

 

No mention about the loan having the Insurance and Interest on the insurance removed and the loan renegotiated and putting the payment already made on the loan toward the renegotiated loan.

 

No mention of the copy of the telephone recording in which after I state three times we cannot buy life insurance, I am assured that I can.

 

I have to give a C for trying.