hi i need some urgent help and advice pls due to be evicted

[jimmyq]

Re: hi i need some urgent help and advice pls

also just thought id mention again i made a complaint to harpmanor and they wrote back to me saying they will deal with it within 8 weeks but instead they wrote back to me 4 months later .

it was after this i approached the fos

[PriorityOne]

Re: hi i need some urgent help and advice pls

Jesus.... that's a heap of admin. costs!!!! I can't see how they'd be able to justify those if put to proof!!!!

If this was pre-court, I'd be challenging them as part of a formal complaint for starters..... but it's not, so your priorities are different. You need a legal brain on this to deal with the Possession Order that they already have.

We really do need Paul on this one..... where is he?!

[cymruambyth]

Re: hi i need some urgent help and advice pls

I think Paul may have a trial starting this week.

[PlanB]

Re: hi i need some urgent help and advice pls

He's also moving offices this week so I guess it's "Bare with me" time

[Susie]

Re: hi i need some urgent help and advice pls

He's also moving offices this week so I guess it's "Bare with me" time

Good luck to Paul and all involved, thats not an easy task! At least the reply does not need to be there until next week so the panic is over.

[mgfboy]

Re: hi i need some urgent help and advice pls

Jesus.... that's a heap of admin. costs!!!! I can't see how they'd be able to justify those if put to proof!!!!

If this was pre-court, I'd be challenging them as part of a formal complaint for starters..... but it's not, so your priorities are different. You need a legal brain on this to deal with the Possession Order that they already have.

We really do need Paul on this one..... where is he?!

The big one isn't a admin fee , it's a renewal fee and on most bridging loans they are high. The thing I cant understand is why ( apart from them making loads of money) didn't they move the loan on to a more long term finance package. In most cases I've come across , normally they will only renew the bridge once.

[cymruambyth]

Re: hi i need some urgent help and advice pls

Maybe they can make more money this way! Plus they think that they can get a charge on the property.

[PlanB]

Re: hi i need some urgent help and advice pls

The big one isn't a admin fee , it's a renewal fee and on most bridging loans they are high. The thing I cant understand is why ( apart from them making loads of money) didn't they move the loan on to a more long term finance package. In most cases I've come across , normally they will only renew the bridge once.

I agree. This loan was taken out at the height of the property boom in 2007. Sadly for Jimmy when the property market crashed in 2008/9 the value of his home dropped and the LTV may not have stacked up. And as we're all acutely aware the criteria for getting loans suddenly became much harder to satisfy. I presume that any late/missed payments may have also trashed his credit rating preventing a loan restructure

******************************

The original credit agreement has been emailed to both Niddy & Paul to look for flaws. This a summary of the issues raised in posts so far:


* Is the OP's bridging (secured) loan credit agreement covered by the Consumer Credit Act (the purpose of the loan was to buy land to build a workshop for OP's business - nb it started 2007 which probably rules out UE)

* Is this bridging loan a product unregulated by the FSA (usually)

* Did the creditor (Harpmanor Ltd) have a valid CCL when the loan was taken out ('Yes' and still does according to OFT website which implies licenced when loan enforced with possession proceedings . Nb the OP didn't attend the repossession hearing and has no recollection of papers being served)

* Is the creditor regulated by the FSA ('No' checked on FSA website and Helpline confirm it doesn't need to be for commericial/business deals like this one)

* Has the OP made a formal complaint to creditor ('Yes' and he's posted Final Response together with one page of the credit agreement - see link below )

http://forums.all-about-debt.co.uk/s...00&postcount=5

* Can the OP now refer the complaint to the FOS (they say 'No' because loan product not regulated by FSA so not within their remit)

* Creditor already has a possession order on the OP's home - are there grounds to apply for a set-aside and if so what (it's a suspended possession order with conditions which could be varied at a wild guess - order not seen to establish whether "liberty to apply" ie return to court is an option)

* Was the loan agreement "Unfair" (Paul will decide but this link below will help others form a view from a previous similar debate with Paul's input - it appears in Jimmy's case the (stepped) interest rate and potential penalties (for non repayment at the end of the agreed 6 month period) were set out in the credit agreement at the start and not subject to any variations since. Admin charges and legal/court costs have been added plus the standard 'Renewal Fee' for these types of loans all seemingly contained in the agreement page OP posted - see above link again)

http://forums.all-about-debt.co.uk/s...405#post215405

* Is this a case of "Irresponsible Lending" (what did the broker/creditor know about the OP's circumstances at the point of sale & is it the broker or the creditor who may have been "irresponsible")

* If OP can't afford the monthly payments in the SPO what are his options now (the broker Crystal Mortgages has advised OP no chance of remortgage)

* OP has first mortgage with arrears but no legal proceedings started yet

* the DCA (Monarch Collections) originally chasing OP and possibly involved in the repo did not have its licence renewed by the FSA on 25/05/11 (don't yet know date of possession order or when proceedings were issued, and don't know whether proceedings were issued by firm of solicitors or by an in-house litigator but the Claimant was Harpmanor Ltd the lender also named on the possession order - reminder: OP says he never received any court papers)

* There has been no suggestion of referring the creditor to the OFT by the OP or anyone else (possible red herring caused by typo in an earlier post)

* I have absolutely no idea where Blemain Finance comes into any of this chain of events - sorry


Please forgive me if I've got any of that wrong, but I'm only trying to move things forward for Jimmy's sake at this stressful time It's all hands to the pump while Jimmy fends off the next threatened Warrant of Eviction

[mgfboy]

Re: hi i need some urgent help and advice pls

I still think FOS may look at this as a product doesn't need to be regulated by the FSA to come under their remit.

[PlanB]

Re: hi i need some urgent help and advice pls

I still think FOS may look at this as a product doesn't need to be regulated by the FSA to come under their remit.

I do hope so but when I spoke to the FOS today they were adamant that they don't investigate bridging loans and I gave them the name of the lender too Didn't T999 have her request to investigate her Blemain loan rejected by the FOS I know they won't investigate Buy-to-Let loans because they're not regulated by the FSA because I've tried and failed in the past with my own problems They will always (mostly) investigate a firm licenced by the OFT but the individual product can sometimes be the issue

Jimmy did your Final Response letter from Harpmanor Ltd end with ". . . . you may now refer your complaint to the FOS . . . please find enclosed leaflet . . . " ? And what did the FOS tell you when you approached them direct

[CleverClogs (RIP)]

Re: hi i need some urgent help and advice pls

UTTCR stands for Unfair Terms in Consumer Contracts Regs.

It's the dyxlesic version.

[Undercover Elsa]

Re: hi i need some urgent help and advice pls

Hi Jimmyq,
Just playing catch up here.

I might have missed it, but have you been in touch with the court who issued the possession order to get a copy of all the documentation?
Have you done a Subject Access Request to the lenders to get the full picture?

If not, I would do both in order to start getting your ducks in a row to challenge this crippling agreement.
Even if Paul identifies legal issues with this (allowing for his hectic schedule) you'll need this info in order to fight it.
If you haven't done so already I'd suggest you do a SAR and contact the court asap. There may be a nominal charge for photocopying. The SAR fee is £10 and the template is here>>>
Our Templates | Unenforceability Templates | Subject Access (SAR) - Advanced Request

Failing, or even with, paperwork errors, a time order as mentioned earlier may ultimately be the way to go...but you need to act quickly and arm yourself with info, in my opinion.

Just my thoughts..
Shep x

[jimmyq]

Re: hi i need some urgent help and advice pls

hi i phoned the courts and asked for a copy of the possesion order they have they told me it was done in april 2009 and they will be sending me a copy so im still waiting for that. As yet not heard anything from paul still waiting and still unsure of what my next move should be. i got intouch with shelter homes who put me through to someone else who i emailed still waiting for a reply as yet.

thanks

[Never-In-Doubt]

Re: hi i need some urgent help and advice pls

hi i phoned the courts and asked for a copy of the possesion order they have they told me it was done in april 2009 and they will be sending me a copy so im still waiting for that. As yet not heard anything from paul still waiting and still unsure of what my next move should be. i got intouch with shelter homes who put me through to someone else who i emailed still waiting for a reply as yet.

thanks

Hiya

Paul has been off the last few days plus they've moved offices etc so bear with him - just send a gentle reminder email to him

[cymruambyth]

Re: hi i need some urgent help and advice pls

He's had a holiday