SPML/LMC anyone claimed for mis selling and unfair charges?

[JonCris]

Hi everyone

I started reading this thread 2 days ago and got to around thread 2000 then i realised i had to join in to share my story.

Firstly i must say great thread started by Little dottie great contributions by supersleuth (Wish i had you in court with me), enoughisenough. compari to name but a few but really good work. A lot of digging done by all, sorry i cant name you all.

When i get time i will continue catching up on the threads i missed.

I may not have much to offer but my story may be of interest to some of you.

Where do i begin? well in 2000 i aquired a mortgage from SPML, i had to use them as my credit history was not the best and i was self employed. I Quote from thier Customer Booklet

 

"An honest and even handed approach.SPML believes that past credit problems should not stop people from obtaining finance on fair terms.It is our belief that such people, whose financial circumstances have improved, should have the opportunity to put these problems behind them."

 

So with this in mind off i go thinking foolheartedly that if i got into financial difficulties they were there to help as they understood people can, as before end up again with "Credit Problems"

 

My payments have always been a bit hit and miss but always seemed to catch up with paying on arrangements set by SPML, i suffered the charges as it states in the T&C section C25

" The borrower must pay all expenses on demand from the company.If the borrower does not pay them, the company will debit the expenses to the borrowers loan account under clause 13 of this section and charge the borrower interest on them until the borrower pays them"

 

This worked for me, they were added to my loan and i paid interest on these charges just as it was part of my loan.

 

Then CAPSTONE comes along................ I find that charges are then applied to my arrears account monthly, interest on my arrears added to my arrears monthly and the next month and every month charged interest on the interest already charged as it was now part of my arrears.

This may seem logical to you but not having a very legal minded i could only see the obvious that every thing was added to my arrears and i was paying interest on interest.

 

Hopefully not too boring but anyway,work for me was not regular over the years and as of last August i am out of work with no benifits but with £4,000 savings i continued as best as possible with payments but CAPSTONE decided to go to court to repoccess on the grounds that i was £4,000 in arrears and was not keeping to my arrangements to pay £200 additional each month, I knew that due to ill health i was only clutching at straws and they would get thier way eventually as it is soo obvious that the buissness of repo is more profitable (Supersleuth) so put the house on the market for sale, to be fair if i sell i will come away with around £70K so im one of the lucky ones.

Paid £1.400 off arrears 18th Feb asked for court to be cancelled as i had arrangement in place again (Mortgage plus £200 As i had offer on house)

Was declined as i failed too many previous arrangements.

11th March 2010 date of court, started reading here 10th so decided to ask questions before court just to annoy them.

My arrears at 2nd March £2,600 this included my charges over the period with interest on interest!

 

I asked to speak with my lender(who they state is SPML no reason to doubt them i wish i had) was told that i cant as they dont have offices and are only an off shore company?

Asked about fees

1) Arrears Management Fees charged at £50 and not £40 as stated so £280 owed back

2) Debt Councillor Fees Charged at £115 and £110 both times we refused and now we find that this is something never listed on their sundry fees list

another £225 owed back

3) Litigation fees £125 on 4 occassions. Sundry Fees State "14. Litigation Fee...Charged to the account when a solicitor is instructed to send a 7 Day letter" never had letter from solicitor so another £500 due back

4) Returned DD fee £25...found that when my DD was returned on 1st of month i was charged £25 ok but they represented the DD twice in the month on 10 occassions so another £250 owed back with interest which they had charged and the interest on that lol

 

This has only been confirmed by phone so ill let you all know if it materalises but to me it was a stalling tactic as the house is still not sold.

I asked was my mortgage securitised (I did not fully understand but just wanted to know if the guy on the phone knew what i meant lol) he said yes but that my mortgage was not sold on, i just thank myself that he did not ellaborate on securitization ( i cant even spell it)

I requested by recorded delivery a copy of My Mortgage statement to take to court as on repo court cases they only supply Statement of Arrears and recieved it 11th (Shock)

 

at 10;30 on 11th 30 mins before court i had a phone call from CAPSTONE saying my case would be adjourned to allow for my account to be brought up to date.

I arrived at court as prepared as could be with letter of offer on house, arrangement in place, lots of questions prepared (Thanks to all of you) and in the knowledge it was being adjourned,went in and their solititor stated that he requested an adjournment on the grounds that i had an arrangement in place with conditions applied that i keep up the payments WOW i seen red and asked the judge not to adjourn explaining why and that the solicitor was either lieing or had been misled.

The judge asked if i wished we could carry on which i did. The solicitor could not answer any question on fees or any thing to do with SPML only legal terms on repoccessions. the judge asked him who instructed him to reposent SPML he said Capstone the judge said he wanted a full explaination of how Capstone fitted into all of this, the solicitor tried explaining making matters worse for him.

Finally the judge said no adjounment would be granted and that the solicitor should report bact to SPML or CAPSTONe that he must have a full breakdown of who is involved with SPML before he will listen to anymore claims for Repo from them in his court and dissmissed the case.

 

I'm New her so i hope for one i have posted this correctly and was not too boring but it was a great day for me, im still selling but 1 up for the little guy i felt

 

 

Thank You all for your help

 

I can only say that i feel for all facing repo but i do believe LittleDotty has helped with this GOOD LUCK ALL

 

 

I understand this is the second time this happened where a Judge has refused to hear them until they ID who was & is who. I understand (on the grapevine) they withdrew & may even have paid compensation

[JonCris]

Comity n.

 

...when one court defers to the jurisdiction of another in a case in which both would have the right to handle the case. Usually this is applied to a federal court allowing a state court to try a criminal case (either exclusively or first) in which both a state and federal crime has apparently been committed. Murder which also violates civil rights, kidnapping across state borders, murder of a federal official, fraud involving violations of both federal and state laws are examples of cases to which comity may apply.

 

Or just ship Attia and her accomplices off to Camp X-Ray...

 

They aren't using Comity they are using the warrants agreed with Bliar for what was supposed to be the sole purpose of bringing terrorists to trial:-x:D

[ryde]

SUGGEST YOU READ THIS BLOG

linked with bbc report on their website,already a 100 comments since 9am

Could be an excellent platform to state our own situation with the lehman residue in this country.

link: BBC - Peston's Picks: Lehman: How it disguised its frailty

[enoughisenough]

MWSPML

Great result to what could have ended up another tale of despair and woe at our" friends" hands.If you've got info from this site sure you wouldn't mind us chalking up CAGGERS 5 CAPSTONE 0.

WHAT AN UNDERSTANDING DJ

YOU HAVE AN ABSOLUTELY PRIME CASE FOR AN FOS COMPLAINT SO IT IS SUGGESTED YOU START ONE ASAP.

All the info about how to go about this is on site,as pointed out it seems if you have an ongoing complaint (which usually takes about 18months to 2 years!) its like a suit of armour at any hearing and you stand an excellent chance of getting a large refund..

anyone who hasn't got an fos complaint in progress would be well advised to start one.

I WAS TOLD THE LENDER HAS TO STUMP UP £500 EVERY TIME A COMPLAINT IS MADE AGAINST THEM,SO ENOUGH COMPLAINTS?

 

NOW YOU'VE GIVEN ME FOOD FOR THOUGHT...

 

Let us say that you have eight separate issues with the ****. Instead of sending a letter of complaint with all the issues, you send off 8 separate letters...one after the other...they would get deluged and would find it impossible to co-ordinate. Then you launch 8 separate complaints with the FOS, costing them £4000 instead of £500. Slightly joking here...but...

[ryde]

eie

I was told this from a professional source (a banker!) about 4 years ago so its probably gone up since then.The fee is to cover the costs of the FOS.

Give it a go,but the fos would probably lump them all together,theoretically though everyone who has ever had arrears or been subject to the insurance [problem] could complain if only they knew.

must get a few posts going on seans blog.

Edited March 12, 2010 by ryde

[ryde]

MortgageWithSPML

IF THE JUDGE DISMISSED THEIR CLAIM AFTER REFUSING THEIR APPLICATION FOR AN ADJOURNMENT CAN'T YOU CLAIM YOUR COSTS?

 

ANOTHER THING IS IF ROCKET WENT INTO COURT THIS AM RE HIS EVICTION WARRANT IT WOULD HAVE BEEN AN EMERGENCY HEARING SO IT WOULD HAVE BEEN UNOPPOSED BY CAPSTONE AS NO ONE WOULD BE THERE TO REPRESENT THEM.

SO THE DJ WOULD ONLY GET ONE SIDE WITH NO OPPOSITION,ITS WORTH CONSIDERING THIS TACTIC FOR FUTURE USE.

Edited March 12, 2010 by ryde

[enoughisenough]

Well now it's official and breaking through into the open. It's in the media spotlight. Lehmans rotten to the core, E&Y and Linklaters, shoddy and complicit. Lower down the food chain you have the likes of Capstone, Vertex and Lightfoots, terrorising the consumer and across the way you have the OFT, FSA, & CH all wringing their hands.

 

You looked after the investors first. You talked tough and then hid behind typically British obfuscation, prevarication and downright sophistry. YOU LET THE CONSUMER BURN.

 

What is quite clear now and probably can longer be contained or written of as the inarticulate moanings of a few feckless debtors is that we were right in all of this.

 

It infuriates me that we have been left to be advocates in our own cause. Some of us can, but many of those out there cannot and could not.

 

All of those repoed by this scurrilous gang of thieves MUST BE FULLY COMPENSATED for being left destitute and FAILED by the supposed guardians and custodians of their welfare. And we don't want no GMAC-RFC level fine either. They must be liquidated and every last consumer fully compensated.

 

If that means liquidating the assets and closing down once and for all the originators the third party administrators the trustees and the spvs that's something I'll live with. If it means sequestrating the assets of the likes of Attia and the other directors I have no problem with that. They fully deserve everything that they have visited on us. Let them be the ones who face each day with dread. Let them be the ones who see their kids chucked into the street. Let them be the ones made destitute and dispossessed of all they have.

 

And if it means leaving no stone unturned to find out where this charitable trust slush fund has squirelled away their fraudulently obtained largesse, then so be it.

 

They should be tried for treason for wrecking the economy.Pity the death penalty no longer applies for treason.

 

It's only recently come to light that Capstone are indeed Jackals and Hyenas. Last year they launched 300+ negligence claims against their erstwhile colleagues in crime such as estate agents and solicitors who had helped perpetrate this massive fraud. The Jackal may hunt in packs but it also turns on its own kind. It needs to be subject to a rigorous bout of pest control and culling.

[enoughisenough]

NOT READ THIS YET BUT I'LL POST IT UP. THOUGHT SOMETHING WOULD BE OUT TODAY...

 

BET THERE'S NOWT IN IT FOR US THOUGH...

 

http://www.fsa.gov.uk/pubs/other/lehman.pdf

 

OH WELL THAT WAS A BIG FAT NOTHING. Except for paragraph 38. Chapter 11 bankruptcy would have a profound impact on the UK. Don't we know it...?

Edited March 12, 2010 by enoughisenough

[ryde]

The Jackal may hunt in packs but it also turns on its own kind. It needs to be subject to a rigorous bout of pest control and culling.

QUOTE EIE.

 

sounds like a job for Jackalfindergeneral(JFG)

 

BRING HIM ON HOME

 

FLUSH 'EM ALL OUT

 

and

 

FINISH 'EM ALL OFF

 

legally of course:-)

[JonCris]

Well now it's official and breaking through into the open. It's in the media spotlight. Lehmans rotten to the core, E&Y and Linklaters, shoddy and complicit. Lower down the food chain you have the likes of Capstone, Vertex and Lightfoots, terrorising the consumer and across the way you have the OFT, FSA, & CH all wringing their hands.

 

You looked after the investors first. You talked tough and then hid behind typically British obfuscation, prevarication and downright sophistry. YOU LET THE CONSUMER BURN.

 

What is quite clear now and probably can longer be contained or written of as the inarticulate moanings of a few feckless debtors is that we were right in all of this.

 

It infuriates me that we have been left to be advocates in our own cause. Some of us can, but many of those out there cannot and could not.

 

All of those repoed by this scurrilous gang of thieves MUST BE FULLY COMPENSATED for being left destitute and FAILED by the supposed guardians and custodians of their welfare. And we don't want no GMAC-RFC level fine either. They must be liquidated and every last consumer fully compensated.

 

If that means liquidating the assets and closing down once and for all the originators the third party administrators the trustees and the spvs that's something I'll live with. If it means sequestrating the assets of the likes of Attia and the other directors I have no problem with that. They fully deserve everything that they have visited on us. Let them be the ones who face each day with dread. Let them be the ones who see their kids chucked into the street. Let them be the ones made destitute and dispossessed of all they have.

 

And if it means leaving no stone unturned to find out where this charitable trust slush fund has squirelled away their fraudulently obtained largesse, then so be it.

 

They should be tried for treason for wrecking the economy.Pity the death penalty no longer applies for treason.

 

It's only recently come to light that Capstone are indeed Jackals and Hyenas. Last year they launched 300+ negligence claims against their erstwhile colleagues in crime such as estate agents and solicitors who had helped perpetrate this massive fraud. The Jackal may hunt in packs but it also turns on its own kind. It needs to be subject to a rigorous bout of pest control and culling.

 

If this was China they'd be executed:D

[ryde]

Laws Comin'

[enoughisenough]

Rocket

 

hi there again and well done for doing the necessary under serious duress. Of course you must check that the bailiffs warrant has been removed from the list first thing Monday. Others will know about the checking procedure and what you need to ask, but otherwise I think you can begin to chill, and give your kid a hug.

 

I'd like to apologise for any pressure, confusion or additional stress you may have received in the last week or so from myself. As you will have probably gathered the red mist descends when the a holes try a repo. So please accept this humbly offered apology. I hoe you can get everything sorted moving forward. Best wishes EiE.

[rocket1]

Hi everyone

 

The judge asked if i wished we could carry on which i did. The solicitor could not answer any question on fees or any thing to do with SPML only legal terms on repoccessions. the judge asked him who instructed him to reposent SPML he said Capstone the judge said he wanted a full explaination of how Capstone fitted into all of this, the solicitor tried explaining making matters worse for him.

Finally the judge said no adjounment would be granted and that the solicitor should report bact to SPML or CAPSTONe that he must have a full breakdown of who is involved with SPML before he will listen to anymore claims for Repo from them in his court and dissmissed the case.

 

Thank You all for your help

 

I can only say that i feel for all facing repo but i do believe LittleDotty has helped with this GOOD LUCK ALL

 

Hi mortgage with SPML,

 

What you say is VERY interesting and may well be of great value to others in similar circumstances.

 

Is it possible to get some of the more 'formal' details. For instance, a copy of the judgement which the judge made would be gold dust. All you have to do is ask for it as you are entitled to it free (I seem to remember, but this needs checking).

 

Any chance we can get hold of that through you ? It could just work wonders in other courts etc. But it will be useless if it remains just buried.

[rocket1]

MortgageWithSPML

IF THE JUDGE DISMISSED THEIR CLAIM AFTER REFUSING THEIR APPLICATION FOR AN ADJOURNMENT CAN'T YOU CLAIM YOUR COSTS?

 

ANOTHER THING IS IF ROCKET WENT INTO COURT THIS AM RE HIS EVICTION WARRANT IT WOULD HAVE BEEN AN EMERGENCY HEARING SO IT WOULD HAVE BEEN UNOPPOSED BY CAPSTONE AS NO ONE WOULD BE THERE TO REPRESENT THEM.

SO THE DJ WOULD ONLY GET ONE SIDE WITH NO OPPOSITION,ITS WORTH CONSIDERING THIS TACTIC FOR FUTURE USE.

 

 

Hi ryde,

 

It wasn't an emergency hearing.

 

I got to the court office at three minutes to four pm yesterday to file because the dangers of filing on Fri were no district judge working on fri + no hearing on mon before eviction. Then it would too late to bother.

 

So Capstone WERE represented, but not well. But you are right that if people can use the tactic of getting an emergency application heard ex-parte, then it is a good tactic. But it sounds dangerous.

 

I have been like a limp rag all day since the hearing this morning.

 

It is interesting that because I am still v.v. weak from the double whammy of a kidney infection & flu just three weeks ago, that the 'mental strain' of this today made my flu recovery relapse something rotten.

 

I physically couldn't do a thing for a few hours after the court hearing and my lungs went into instant croaking decline in court ( which was a good thing as it really sounded as though I was at death's door ( which I probably was three weeks ago)

 

Meanwhile, many thanks once again for all the help.

[rocket1]

Rocket

 

hi there again and well done for doing the necessary under serious duress. Of course you must check that the bailiffs warrant has been removed from the list first thing Monday. Others will know about the checking procedure and what you need to ask, but otherwise I think you can begin to chill, and give your kid a hug.

 

I'd like to apologise for any pressure, confusion or additional stress you may have received in the last week or so from myself. As you will have probably gathered the red mist descends when the a holes try a repo. So please accept this humbly offered apology. I hoe you can get everything sorted moving forward. Best wishes EiE.

 

EIE

 

Thanks for the concern, but you have nothing to apologise for. It is just that communicating by computer forum is very far from the nonsense 'ideal' which the computer industry has been wittering on about for years.

 

It is difficult, inarticulate, time consuming and a big pain in the butt !

 

The only pressure I had was from the lender and legal system and deadlines, not from anyone on the forum.

 

On the contrary, I am very grateful for everyone, and all of them helped to a greater or lesser extent and in different ways with the various different bits of information posted.

 

 

Many thanks once again to you and everyone else.

[enoughisenough]

Well...

 

Well done Rocket once again.

 

Once upon a time, not so very long ago, the **** would have had your guts for garters, and would not have given a damn for your health, your welfare or your responsibilities towards your son. I'm sure every cagger wishes you and your boy a speedy and full recovery.

 

In many ways they still don't give a stuff and will carry on trying to repo anyone else they can get their grubby mitts on for as long as the negligent disreputable authorities give them license to do so.

 

It speaks volumes that a solicitor turned up. They will now bang that on top of your alleged arrears. That's another £500 + to deal with.

 

How desperate for repos must they be....?

 

Well done. Rest well. Recover and now enjoy quality time with your kid.

 

Glad you do not have this hanging over this weekend, BUT YOU MUST CONFIRM with the bailiffs Monday morning. They have a notorious habit of losing paperwork, turning up changing locks, billing people and taking a month of Sundays to restore the status quo ante.

 

Serious...

[ryde]

Rocket

The tide certainly seems to have changed and the gods of fortune have certainly smiled on you today but its down to your own initiative in getting there yesterday and getting a hearing today you must have been much better prepared than we thought.

Thats a terrific idea of yours to ask MWSPML to get a copy of the judgement if possible,just think of the damage that could do.

Anyway its time to sit back and relax for the weekend,what a result I honestly feared the worst.

[ryde]

SPPL NOTICE CH

THE END ......BEGINS.......... cop. LC

 

Type Date Description Order

 

GAZ1 16/03/2010 FIRST GAZETTE

 

SHUT 'EM DOWN

3 TO GO

WE'RE WORKING ON IT 24/7

Edited March 13, 2010 by ryde
CAGGED OUT

[Crapstone]

MWSPML

Great result to what could have ended up another tale of despair and woe at our" friends" hands.If you've got info from this site sure you wouldn't mind us chalking up CAGGERS 5 CAPSTONE 0.

WHAT AN UNDERSTANDING DJ

YOU HAVE AN ABSOLUTELY PRIME CASE FOR AN FOS COMPLAINT SO IT IS SUGGESTED YOU START ONE ASAP.

All the info about how to go about this is on site,as pointed out it seems if you have an ongoing complaint (which usually takes about 18months to 2 years!) its like a suit of armour at any hearing and you stand an excellent chance of getting a large refund..

anyone who hasn't got an fos complaint in progress would be well advised to start one.

I WAS TOLD THE LENDER HAS TO STUMP UP £500 EVERY TIME A COMPLAINT IS MADE AGAINST THEM,SO ENOUGH COMPLAINTS?

 

Agreed. A long process but well worth it. They have left us alone and all we get now are usual statements instead of twice weekly demands or letters sent in 'error'. No charges or fees are added because they know they can't apply them. They'll push their luck but just throw it back in their court and give as good as you get.

 

The FOS made it quite clear, in my case, that SPML shouldn't have agreed in court to an offer of arrears repayment that was outweighed by any charges that would be applied and couldn't be justified. Capstone REFUSED to give the FOS a table of their charges when it was requested.

 

Complain, complain, complain..keep faxing, calling and writing to Capstone. Keep a diary of it and keep in touch with your allocated Ombudman. You'll get nowt if you do nowt..

[enoughisenough]

Well...that was tense

 

I bet you're all big Lee Marvin fans....

[TFD123]

Hi

I have just written this and my comp crashed need to start over lol

 

I will chase up all the to do with my case and get a copy of the hearing outcome and post it here, i know that there will be some points that can be of use to others. If after i post the details you guys find that it is of use i am prepared to go public with anything if that is required.

 

There has to be something in this senario of Capstone acting as agents for SPML and not having their name on the court papers.

 

ATM i await the response from Capstone regarding the amendments to my account re charges and interest charged on them and how it was applied.

I will get back on it on Tuesday (Hospital Monday) i will find out how to get info from court (any advice on how?) I am going to write to Capstone as i will not be paying solicitor fees already added. Court told SPML solitor that SPML must pay court costs.

I just hope that i can help someone from going through this hell.

Im not out of the water just yet, i recieve DLA at £74 per month. I am not entitled to any other benifits because wife works and i was selfemployed,

(I was never able to keep up on insurance policies i had)my wife takes home £1,300 per Mth as teacher and i need to pay £600 to SPML via Capstone 1st of every month but there is certainly worse off than me.

Please be patient with me but as soon as i have info ill post.

I will keep up on other posts.

 

If house sells at offer price £140,000 (On market at £150,000) then i will be able to pay off SPML and i have a few other attachments on my house on LR which i need to sort out, i should still have back basically the money i paid over the past 10 years but my house will be gone so i will work the system someway i can. I suppose i will need to get a divorce so i can get the benifits that i should be entitled to LOL.

Taking out a 25 year Mortgage at 40 while self employed was a mistake but i thought"New Wife New Life" lol

Lemans certainly know how to work it!!!

 

Never had mortgage before and never want one again.

 

Keep the fight going

Remember Lemans started this decline and we need to prove that the off shore company SPML (Their Words)is not legal in its handling of our Money through CAPSTONE.

 

I will send £10 with consent form from my wife to Capstone to give me all info they have on us to date.

I really want to show these guys for what they really are, THIEVES

 

Is anyone collating all the information/facts this thread has produed?

I would love to see the bullet points as to where we are at the minuite with the facts.

But so long as it is being done is fine i just need you guys to let me know what to do to help.

God i hope in my heart it can be proved how wrong these companies are and with forums like this it has to be helping.

 

Hopefully i can help soon i just need to get all my bits together and let you guys pick the bones out for us all.

I am sure something will come from my hearing but i would probly miss it if i had not got you guys/gals.

 

Post soon

[TFD123]

Can anyone confirm am i on the right track here?

 

Lemans own SPML and CAPSTONE

Lemans go bankrupt

Any monies paid to SPML or CAPSTONE would go to recievers, less their expenses?

 

Is this the case?

 

Maybe i am too far behind on this thread but i really need to catch up.

 

Sorry if i am sounding stupid but as you know i am really new to all this and it could be that someone as ignorant to the facts as me could be holding a key without knowing it?

 

Cheers folks

 

How is LittleDotty doing and is Supersleuth still on the case?

[enoughisenough]

The whole securitisation process and the fall out from the bankruptcy is shrouded in secrecy. It takes months to get your head around all this stuff I'm afraid.

 

Dotty is still batting strong (legend and respect to the thread's pioneer). Super also a legend. Has been known to make the odd cameo return...

[ryde]

MWSPML

STAY WITH US,HANG IN THERE AND WE'LL GET YOU UP TO SPEED AND GET SOME OF THE CHARGES BACK FOR YOU AT THE VERY LEAST.

Strangely enough I was trying to find out the real owners of these companies last night but no answer.PWC seemed to say on their site that capstone and the real estate portfolios were split from the lehmans european sale to nomura and they were trying to sell the whole as a going concern.So you have to assume that the remnants of LBIE IN ADMIN BY PWC still own this lot without any contrary concrete information.

spml is not offshore its a dormant company registered in the uk at companies house and is a front to carry out repossessions on behalf of the spvs through capstone the administrators who collect your payments.

Any money goes to the special purpose vehicle(spv) they sold/securitised your mortgage to and from them to the investors who invested in these vehicles by way of interest payments.

Edited March 13, 2010 by ryde

[TFD123]

Ok

I will take advantage of this weekend to catch up on things and hopefully become a contributor of something useful soon.

Good Luck All