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By outerspace79 · Posted
Hi Yes and it was rejected however my question is more to do with the offer from Chetwood v what the Ombudsman would decide/rule as to what would be best which is what i have put in the post but if you would like more information to help i#'m happy to supply it but in short i want to know if the offer they have made is what i should take or reject and allow Ombudsman to rule but as i see it there isnt much difference. They wont offer anything on the Livelend which the Ombudsman will rule on anyway so its a case do i reject and send both? Thanks -
so you made an irresponsible lending complaint to the original lender(s) about both loans?? we cant guess the back story... dx -
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By aliencontractor · Posted
Great, I’ll get the defence rewritten based on the above and submit tomorrow. will have to be via email as mcol could not sort out my account -
By outerspace79 · Posted
Hi - Im looking for some advice - I have recently had a complaint rejected which went to the Ombudsman. I had 2 loans with Chetwood 1 for 11.5 taken out in 2019 and 1 for 12.9k taken out 2021 (These are with same company but one is Live Lend and 1 is Betterborrow) They have come back today with on offer on the Betterborrow loan only as below: Remove the interest paid to date. Refund the interest at 8%. Stop the interest going forwards. Would it be better for me to reject this offer and ask for both loans to be assessed as one as feel if i accept and ask ombudsman to rule on just the live lend that weakens my case as they cant take the whole situation into account? I asked the Ombudsman what they would normally advise company to do if loan is upheld and they advised: To add up the total amount of money you received as a result of having been given all the loan. The repayments you made should be deducted from this amount. a) If this results in you having paid more than you received, any over-payments should be refunded along with 8% simple interest (calculated from the date the over-payments were made until the date of settlement). b) If any capital balance remains outstanding, then Chetwood should attempt to arrange an affordable and suitable payment plan with you. To remove any negative information recorded on your credit file relating to the loan. So to me it sounds like Betterborrow have offered pretty much that but im not sure if its a tactic they are doing so i accept and then it weakens the Livelend claim thus not having it all done together, on the other hand if i reject their offer and the ombusdman rules against then i would have nothing. Any advice is appreciated on if accepting 1 impacts the other or should i just ask Ombusdman to assess the lot and they will likely rule the betterborrow on anyway on slightly better terms - The interest on both is around 10k each so its quite a big decision.
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