StressHead's UE Diary

[Never-In-Doubt]

Re: StressHead's UE Diary

Right, all up to date!

I'm off to look at more diaries!

[StressHead]

Re: EGG Loan

Ok, this was opened in 2006 & also done online, meaning it's exempt from s.127 (ie we cannot look at UE).... however, it does have faults as it's not laid out as per the correct procedure (s.18 CCA1974) - see here: ---> Multiple Agreements

However, that said, yours is similar to this example: ---> See Example Agreements

Then scroll down to the 3rd example - here (click it for full size):



In that, I mean that it is not laid out as per s.18, so you can assume it is unenforceable and see how they want to play it - obviously if they get too heavy then you may need to back down, i'll keep you on track - don't worry! However, in the meantime - just send this back (to Aktiv kapital or whoever own the debt now): ---> CCA Query - Missing Prescribed Terms

Cool. Will do tonight ready for tomorrow.

[Never-In-Doubt]

Re: EGG Loan

Cool. Will do tonight ready for tomorrow.

Do you understand why i'm saying it is not enforceable and why I linked to that thread? Basically there should be like two agreements, one for the original loan with separate prescribed terms, and another for the PPI element. Yours (although laid out differently) is the same as that example, ie no separate APR or breakdown for the PPI - which means the whole thing is UE.

Hope that makes sense.... :niddy

[StressHead]

Re: StressHead's UE Diary

Hiya

Replies in PURPLE

Can you elaborate - were you paying for the DMP each month and if so, how much? I cannot see on the terms anything about payment?

I was paying £460/month to begin with and then reduced the payments to £300/month roughly after about a year.

As for the claims side of things, what exactly was this for, ie what were you seeking to reclaim - please elaborate?

They were meant to be requesting my CCA's, sending to a company called SMD Assessment who would write an independant report stating if and why the CCA was unenforceable. This report would then be submitted to a judge who would make the final decision. I had to pay £84/claim and had 8 claims. I didn't realise that I could basically do all of it myself otherwise I would've never considered going with them. So, is there any chance of getting my money back from them based on the agreement you've seen?

Also, regards the Egg account above - start a new thread here (Reclaiming) and ask Di about reclaiming the £8k of PPi they added. Obviously they will reject the claim based on the fact you applied online, however just blag it (means you need to tell some white lies).... so think of reasons to make a reclaim, ie were you unemployed, exempy somehow? Its worth thinking into this as it'll being the debt down by shit loads.....

In the mean time though, treat is as unenforceable ok?

Thanks for all your help! Much appreciated

[Never-In-Doubt]

Re: StressHead's UE Diary

Can you elaborate - were you paying for the DMP each month and if so, how much? I cannot see on the terms anything about payment?

I was paying £460/month to begin with and then reduced the payments to £300/month roughly after about a year.

No, I mean how much were they (ie the DMP) charging you - the £460 is the amount you paid as a total, so only some of that went to the creditors - I need to know how much of it the DMP retained; as their fee or whatever they call it?

[Never-In-Doubt]

Re: StressHead's UE Diary

They were meant to be requesting my CCA's, sending to a company called SMD Assessment who would write an independant report stating if and why the CCA was unenforceable. This report would then be submitted to a judge who would make the final decision. I had to pay £84/claim and had 8 claims. I didn't realise that I could basically do all of it myself otherwise I would've never considered going with them. So, is there any chance of getting my money back from them based on the agreement you've seen?

Unfortunately, no. Sorry.

[StressHead]

Re: StressHead's UE Diary

Unfortunately, no. Sorry.

Thanks for looking at it anyway.
Much appreciated

[StressHead]

Re: StressHead's UE Diary

No, I mean how much were they (ie the DMP) charging you - the £460 is the amount you paid as a total, so only some of that went to the creditors - I need to know how much of it the DMP retained; as their fee or whatever they call it?

They kept the first payment of £460 and then took £80.50/month. When I reduced the payments to £300, they were taking £52.50/month.

[Never-In-Doubt]

Re: StressHead's UE Diary

They kept the first payment of £460 and then took £80.50/month. When I reduced the payments to £300, they were taking £52.50/month.

Where does it say this in the agreement? have you signed something else that confirms you AGREE to pay these extortionate fees?

[StressHead]

Re: EGG Loan

Do you understand why i'm saying it is not enforceable and why I linked to that thread? Basically there should be like two agreements, one for the original loan with separate prescribed terms, and another for the PPI element. Yours (although laid out differently) is the same as that example, ie no separate APR or breakdown for the PPI - which means the whole thing is UE.

Hope that makes sense.... :niddy

Umm, I'd be lying if I said yes as you've said in one bit that we cannot look at UE but then you say that it's UE? Do you mean that we cannot look at UE for s. 127 but we can look at UE for s. 18? Bit confused.

As for reclaiming PPI, they actually told me that I could only have the loan if I took PPI as the loan was for such a large amount. I don't believe that this is true now? I will start a thread in Reclaiming.

Thanks AGAIN!

[Never-In-Doubt]

Re: EGG Loan

Umm, I'd be lying if I said yes as you've said in one bit that we cannot look at UE but then you say that it's UE? Do you mean that we cannot look at UE for s. 127 but we can look at UE for s. 18?.

Spot on! See, you're learning

[Never-In-Doubt]

Re: EGG Loan

As for reclaiming PPI, they actually told me that I could only have the loan if I took PPI as the loan was for such a large amount. I don't believe that this is true now? I will start a thread in Reclaiming.

seriously? Brilliant - then you'll get it refunded as they CANNOT do this! Well done, so this debt will be reduced by £8k anyway, speak to Di and start a new thread on the reclaim section for this

[StressHead]

Re: StressHead's UE Diary

Where does it say this in the agreement? have you signed something else that confirms you AGREE to pay these extortionate fees?

S. 4.1 and 4.2 state that they will retain the first months payment for their initial work in establishing the DMP and that they will deduct from each monthly payment a fee equal to 17.5% of the repayment figure or £35, whichever is greater.
I signed this document... what an idiot! I thought that it was my only option at the time though and hindsight's a wonderful thing!

[Never-In-Doubt]

Re: StressHead's UE Diary

S. 4.1 and 4.2 state that they will retain the first months payment for their initial work in establishing the DMP and that they will deduct from each monthly payment a fee equal to 17.5% of the repayment figure or £35, whichever is greater.
I signed this document... what an idiot! I thought that it was my only option at the time though and hindsight's a wonderful thing!

Ahh, bummer - thats a shame.

Oh well, its in the past now so just forget it, at least you've found proper help now so things will improve given time....

[StressHead]

Re: EGG Loan

Spot on! See, you're learning

Not just a pretty face! hee hee
I'm quite a quick learner so I'm hoping that I'll be up to speed soon so that I'm not too much of a headache for you!