Jump to content



Loan Maker Broker & Advantage/ADV2/Paragon Secured 2nd charge Loan - now with Mars


Please note that this topic has not had any new posts for the last 328 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

  • Replies 104
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

If your record with Halifax is good it might still be worth asking if you could take "additional borrowing" (that's what Lloyds called it when we extended our mortgage).   That's assuming there's enou

Go and relax and watch some TV

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 Have we helped you ...?         Please Donate button to the Consumer Action Group The National Consumer Service

 

If you want advice on your Topic please PM me a link to your thread

Link to post
Share on other sites

Apologies, I've not been able to get online over the weekend - hopefully you managed to get suggestions for your N244 from the repossession guide Andyorch posted earlier in the thread. How did it go today?

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums

 

 

This site is run solely on donations

 

My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

Link to post
Share on other sites
  • 1 year later...

I have had so much help on here in the past with Halifax and Paragon.

 

After my win in court last october with Paragon they sold the debt to Mars Capital.

I haven't had much to do with them yet but i know they are a vulture fund, they buy these loans at a cost. I want rid of it.

 

The original loan was £35 k and paid in multiple payments to people i owed money to and some to me.

Ive had high levels of arrears for at least 10 years i think .

 

Are they adding interest to my arrears? does it go on balance - it says i now owe £54 k when i have been paying since 2007.

I have high levels of chargers on there which i need to add up and ask to be deducted.

 

If i worked out how much i had paid and offered them £12k or less are they no likely at all to take it or will they still expect £54k.  

I want to offer a lump sum to get rid of it this year but there are so many issues with this loan -

 

i SAR them back when paragon had it but i don't want to rock the boat

- but if they don't have the credit agreement do courts still view this as unenforceable ???

should mars keep to the same rate that the original lender took loan out for??

 

 I have threads on here going back years - the loan was with Advantage then to ADV2 then paragon now Mars Capital , a company called loan makers sorted out the secured loan - they were not paid by myself the fee was put on the mortgage / loan i think

Link to post
Share on other sites

any improper fees and interest accrued upn those fees is recoverable by you from the people who are the creditors. So if Paragon added unlawful fees you claim them back form Mars.

 

Get your SAR's in to everyone involved in this mess and then note any charges, fees ect and  we can help you calculate the interest accrued. It may well be that Mars paid very little for this account  and when hit with a claim for £35k unlawfuls fees recovery they may just cut thier losses and drop any interest they say  have

Link to post
Share on other sites

When I was in court last year with paragon and suspended possession order when they were going for eviction they stated the high levels of arrears and were told off by the judge as to why they let it get so high and only just acting on it now

.. I won by skin of my teeth but I think they sold it off as soon as they could after that. 


If , once I have worked out all fees etc in coming months and interest and I hit them with a figure

- if they refuse it am I in a position to take them to court ?? 

Link to post
Share on other sites

Just thinking about this from another angle, if I understand this correctly this loan is the only one you have secured on the house. 

If that's correct then £35K is quite small by mortgage standards. 

 

Could you take out a more conventional mortgage at a sensible interest rate, and pay this loan off? 

Or are you tied in for the term? 

 

 Even if there were early repayment penalties it might still be worthwhile given the high interest rate mentioned earlier.

Link to post
Share on other sites

If your record with Halifax is good it might still be worth asking if you could take "additional borrowing" (that's what Lloyds called it when we extended our mortgage).   That's assuming there's enough equity in the house, and also that your income meets their affordability criteria.   When we took additional borrowing we were also allowed to take it on a longer term than the existing mortgage

  • Like 1
Link to post
Share on other sites

yes you can take them to court for the fees.

 

 

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... 

Link to post
Share on other sites

here is your agreement extracted from an earlier photobucket link

which you might like to close now as your full name is in the account name there.

 

 

morgan stanley £35k advantage.pdf

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... 

Link to post
Share on other sites
  • 2 months later...

Hi am still on with this.

 

Am wanting to SAR Mars soon and work out charges etc , what I've paid and the balance ..

 

i know they are saying it is 50k plus over 25k arrears?

i am wondering if they bought it cheap would they perhaps when hit with it all , agree a pay off???

 

I really need advice here as i want to finally sort it.

I know that going down unenforceable route is a no go but what else can i do them for??

Link to post
Share on other sites

you need to get all the info 1st then we know what cards we are playing with.

 

dx

 

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... 

Link to post
Share on other sites

you've already sent an sar .

you need to await the information.

 

yes ofcourse they must hold everything

else how can they so confidently rook you upon supposed arrears.

now you'll never get to see the deed of assignment sadly 

 

lots of threads here 

get reading up

 

mortgage charges reclaiming.

 

dx

 

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... 

Link to post
Share on other sites

I had a SAR about 6 years ago from paragon. I havent sent for one from Mars yet.

 

not sure what you mean about what they hold about me hence ‘rooking me on arrears ‘

sorry xx

Link to post
Share on other sites
  • dx100uk changed the title to Loan Maker Broker & Advantage/ADV2/Paragon Secured 2nd charge Loan - now with Mars

good so get all the info from mars and see if it matches the old sar data.

 

wouldn't hurt you too sar advantage too.

 

get every piece of info you can then hit back

 

this cash only? secured 2nd charge loan will be mostly unlawful penalty fees and bogus insurances.

 

tha'st called rooking.....the arrears are false.

 

 

 

 

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... 

Link to post
Share on other sites

not it's not arrears.

just they trying to be cleaver by using words and terms that do not apply to the crap they are going on about.

 

a shortfall is where a secured loan or mortgage fails to be settled after the property that it was secured against has been repossessed and the latter sale figure failed to meet the remaining outstanding debt it had secured against.

 

in you case neither are true.

 

sadly throughout this whole 10yrs thread

other than the agreement I did earlier, we haven't seen any paperwork like a previous SAR returned scanned up in full

so we don't really know anything of this 10yrs debacle, you just repeatedly disappear for a few years, then comeback again.

 

have you ever checked who's name is now on the charge on your deeds of the current property??

did

adavantage

advantage2

paragon

mars

 

...all successfully apply to have it changed to their name with land registry?

did you ever get a notice of assignment each time the owner of the loan sold it on.??

 

 

 

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... 

Link to post
Share on other sites

well .. i certainly don't understand saying that theres a shortfall

- my house isn't repossessed just has the terms on it as suspended. ??

i feel like calling and asking where this comes from but ill save it..

i wonder how they can call it that and lie???

also i still have equity 

 

in the ten years I've had a suspended possession I've always put a n244 in and fought with your help and last time the judge was not happy with them that they had let the arrears get so large so sided with me.. month later they had sold it on to Mars.

 

I fought them in 2014 after some errors on their part and had a solicitor but i had a serious mental breakdown so my dad agreed that i pay interest only for 6 months to which they agreed after we lodged official complaints of their conduct while i was in hospital 

 

I had then in 2014 paid £24595.20, charges £3874.42 ,

i have another 6 years of charges which i started getting more of and i think my payments are higher than they were too.

 

years ago i think it was paragon on my charging order - i may need to check

also yes they informed me of new owners of the debt each time

Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...