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Can someone please help urgently. Can loan company add charges which are unreclaimable-they say they can as they are not classed same as banks and creditcard co. Also they said they had suspended interest yet it shows interest up to present day-they say that is a different interest!! Help

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I'm no expert but I don't think they can - somewhere there is a thread about this.

 

You have to write and ask for interest to be frozen - never take their word for it.

Egg/CapQuest 2 - CCA sent 12/04/07 ****RESULT****

Barclays Bank/Lowell 1 - CCA sent 12/04/07 ****RESULT****

 

Halifax/CapQuest 1 - CCA sent 12/04/07 SD issued ****WON with COSTS****

 

Barclaycard/Cabot - CCA Sent 12/04/07 Unenforcable Application Form

Smile/Lowell 2 - CCA sent 12/04/07 Unenforcable Application Form

NatWest/Fredrickson International - CCA sent 12/04/07 No Reply

 

Halifax/1st Credit - CCA sent 17/04/07 No CA but Threats from 1st Credit & Connaught! - Still Nothing but still chasing!

 

Student Loans Company/CapQuest 3 - CCA sent 11/06/08 - No Reply.

Lowell 3 - Ignored them went over their heads to Capital One

 

Halifax - S.A.R - sent 17/04/07 Completely incomplete!

Halifax 2 - S.A.R - sent 11/06/08 - Scant Info

Capital One - S.A.R - sent 11/06/08 - Scant Info

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I would definately write in to ask for Interest to be frozen as it defeats the object in my opinion.

 

If someone is struggling to pay a debt, and this debt is passed to a collection agency, it is a bit contradictory to start pilling further interest and charges on top of an amount a customer has struggled to pay.

 

If there are additional charges that have been applied, I would check your original credit agreement to see if there was any mention of these being applied should your account go into default.

 

It might be worth speaking to the Original Creditor but that is your choice really :).

Completed:

Woolwich: Received £30

Intelligent Finance: Received £1100 after two years and approximately 20 letters, 6 pieces of hair and an eyeball.

Barclaycard: Received £90

HFC: Received £170

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Can someone please help urgently. Can loan company add charges which are unreclaimable-they say they can as they are not classed same as banks and creditcard co. Also they said they had suspended interest yet it shows interest up to present day-they say that is a different interest!! Help

 

No company can profit from charges - I'm sure that;s the hard and fast rule...Sen them a CCA - see what that does to shut them up... Send recoded with a £1.00 Postal Order

 

Your Ref: xxxxxxxxx

To Whom It May Concern

I do not acknowledge ANY debt to your company.

 

I require you to supply the following documentation before I will correspond further on this matter.

 

1. You must supply me with a true copy of the alleged agreement you refer to. This is my right under your obligation to supply a copy of the agreement under the legislation contained within s.78 (1) Consumer Credit Act 1974 (s.77 (1) for fixed sum credit) - your obligation also extends to providing a statement of account. I enclose a £1 postal order in payment of the statutory fee.

 

2. A signed true copy of the deed of assignment of the above referenced agreement that you allege exists.

 

3. You are notified that you are obliged to supply these documents, whether you are the original creditor or not under S189 of the CCA 1974.

 

Non-compliance with my request is a criminal offence under the above Act and will result in a report being submitted to the relevant statutory authorities.

 

As you are aware, a credit agreement that is not properly documented and signed by the customer is totally unenforceable under the CCA and therefore is a complete defence to any court claim that is issued.

 

Take note at this stage, that any legal action you may contemplate will be both vigorously defended and contested.

 

 

Yours Faithfully

Just hate every DCA out there

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pmhcfe. Thanks for your reply and draft letter. I had to ring the company today to try once more to get them to lower the figure they offered my son to clear debt. He had borrowed £1340 for windows to be paid over 10 years. He paid 28 payments (£680)before his problems prevented him from paying any more, he missed 14 payments up to present. They added £1680 in Interest and charges (charges £490) and then reached a figure of £2200 owing, that they have now reduced to £1650 provided I clear the debt for my son (Its impossible for him as he hasn't even enough to pay his weekly bills anyway) I have to clear it by Monday as chap said it was a month end offer to "Help us hit our targets!" That would mean my son would have paid £2330 for borrowing the money for 42 months! With Interest my son would have paid £2900 over 10 years. They mentioned Statatory Interest and another type of Interest. They say they froze one type (Since last May) but are allowed to charge the other one. (They charged £50 for March alone) I am going away for 2 weeks from next Thurs. so If I pay the £1650 can I still challange the amount at a later date? I am a pensioner and just cant get my head round working out the interest etc.

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pmhcfe- Sorry I forgot -they said they would issue a summons next week if I do not pay!!

 

Well, that's why everything should be done in writing, as per Banks and DCA's etc etc.. I appreciate how hard all this is, and how scary these companies can be...Do you know if the agreement your son signed was done so under the CC Act 1974 ?

Just hate every DCA out there

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Yes he did! Did you see my long thread about it?

 

I'll go see if I can find it..might need my memory jogging :confused:

Just hate every DCA out there

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got court papers-could you tell me how do I work out interest again as cannot get spreadsheets up. Also do I ask for any payment for stress and other charges made from other companies due to unfair charges? Pat

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