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**Never-In-Doubt** · 8 October 2010, 11:57

Re: BMM Diary

why are you paying and more worryingly why the hell are you ringing them? Cancel the payment plan lol.

Basically if you're CCAing them then you do not pay do you? Have you read any of the unenforceability processes?

try this: ---> viewtopic.php?f=13&t=401

**Never-In-Doubt** · 8 October 2010, 12:29

Re: BMM Diary

Forget sending a default request - you have defaulted so it will remain for 6yrs - they will not remove it, nor do they have to so don't waste your time - seriously.....

**BMM** · 8 October 2010, 12:40

Re: BMM Diary

Thanks Niddy.

Totally new to all this been in a DMP for nearly 2 years, been very happy paying back the £104k I'm due to various creditors. That was until GE Money started playing funny gits. So I've decided I need to try and stop them getting a CCJ as DH will have a fit, he gets really nervous about these things. Credit file has been obliterated, defaults by most, so not caring about that side of things, but we've never received anything from GE they just sold us on without warning (they've kept two smaller accounts). So I'll just send them a CCA request and see what they come up with.

BMM

**Never-In-Doubt** · 8 October 2010, 12:47

Re: BMM Diary

Hiya

You may be better looking at this and considering UE across all accounts? See here: ---> viewtopic.php?p=6789#p6789

**BMM** · 25 October 2010, 12:53

Re: BMM Diary

Ge Money-03/ LINK

Type of account: Home Improvement Loan
Date commenced: Pre 2007
Approx balance: £11,700
Date last FULL Payment: Jan 09
Arrangement: Reduced Payment not paid since June/ July.
Credit File Status: Default, not sure of date but recent.
Account owner: LINK from 12th Aug 2010

Activity:
08/10/10 – Letter Before Action (CCJ), notification
11/10/10 - CCA requested, payments stopped.[/color]
21/10/10 - Received CCA, think it's enforceable, Emailed NID to confirm.

Ge Money-04/ LINK

Type of account: Home Improvement Loan
Date commenced: Pre 2007
Approx balance: £7900
Date last FULL Payment: Jan 09
Arrangement: Reduced Payment not paid since June/ July.
Credit File Status: Default, not sure of date but recent.
Account owner: LINK from 12th Aug 2010

Activity:
09/10/10 – Letter Before Action (CCJ), notification
11/10/10 - CCA requested, payments stopped.
21/10/10 - Received CCA, think it's enforceable, Emailed NID to confirm.

**Never-In-Doubt** · 25 October 2010, 19:31

Re: BMM Diary

Originally posted by BMM

Ge Money-03/ LINK

Type of account: Home Improvement Loan
Date commenced: Pre 2007
Approx balance: £11,700
Date last FULL Payment: Jan 09
Arrangement: Reduced Payment not paid since June/ July.
Credit File Status: Default, not sure of date but recent.
Account owner: LINK from 12th Aug 2010

Activity:
08/10/10 – Letter Before Action (CCJ), notification
11/10/10 - CCA requested, payments stopped.[/color]
21/10/10 - Received CCA, think it's enforceable, Emailed NID to confirm.

Ge Money-04/ LINK

Type of account: Home Improvement Loan
Date commenced: Pre 2007
Approx balance: £7900
Date last FULL Payment: Jan 09
Arrangement: Reduced Payment not paid since June/ July.
Credit File Status: Default, not sure of date but recent.
Account owner: LINK from 12th Aug 2010

Activity:
09/10/10 – Letter Before Action (CCJ), notification
11/10/10 - CCA requested, payments stopped.
21/10/10 - Received CCA, think it's enforceable, Emailed NID to confirm.

Hiya

Both of these are enforceable - both are also extremely expensive! Were you stoned when you agreed to them? I mean, to give you some idea to pay £12750 on a conservatory and £8000 on a kitchen suggests so - ok, maybe you have high standards (as I'd expect for those prices) but the sting here is the amount of interest ;EEK

Between both accounts the combined interest due is a staggering £26,400 ;EEK ;EEK ;EEK

Anyway, you can argue a small flaw which is the fact they have added an arrangement fee of £75 onto both which is wrong cos there would be interest on this which is not calculated. That £75 at an apr of 18% over 10 years will soon be worth several hundred which was not accounted for.....

Also another error is in the total field - this should be the combined interest and loan amount - not just the loan amount. Technically you could argue that you were never shown the correct interest rate (it could have been added later when you'd left the store) because the total in your view was much less (i.e. the amount of the loans themselves)... So in box A3 (total amount for credit) it should add up to the amounts in boxe J which shows interest charged, credit and arrangement fee. It will make sense when you see the agreements.

Final flaw, is that you took PPi on one of them, get a reclaim in and argue that you were never told what this would be used for, otherwise you'd never have agreed to it being you were both in stable environments etc...... Reclaim guide here: ---> viewtopic.php?f=42&t=53

I'd try and blag them both right now by looking for info online about loans that do not add up properly and see what advice you can get.

**Never-In-Doubt** · 25 October 2010, 19:34

Re: BMM Diary

Regards to all your other accounts, excluding any overdrafts, send off for a CCA Request and also update the thread with the approx start date - I need an approximate. You can get this from the card itself if it has not changed and/or your credit file.....

So update each account with a detailed analysis as shown here: ---> viewtopic.php?p=6789#p6789

Cheers

y

**BMM** · 10 November 2010, 14:45

Re: BMM Diary

Hopefully someone can give me a bit of advice.

Now that the LINK CCA's are enforceable, what should I do now?

I haven’t heard from Link since they replied with the CCA in Oct and I haven’t paid them anything. Should I start paying them and wait for the court papers, or should I just wait and see what they do next.

Bit confused by all this and not sure what my next move should be.

TIA

BMM

**Never-In-Doubt** · 10 November 2010, 19:44

Re: BMM Diary

If all has gone quiet then just continue to ignore for the moment. What do you mean "wait for court papers" - what court papers? have they told you it is going to court and sent an N1 claim form to you? If not then there is no court - they will always pre-warn you (well they should) - and it is at that point you start to back down and negotiate any enforceable debts.

Considering the time I spent here replying to you, you don't seem very concerned at spending time replying back to me with details or even a little thanks!

**BMM** · 10 November 2010, 21:22

Re: BMM Diary

Hi Niddy,

Sorry if I come across as being ungrateful. Your advice has been very valuable to us and we would have been stuck without your help, and the information on this site so please accept my apologies. I’m still very new to all this and to be honest very scared by the threats that some creditors happily dish out.

Also to explain a little, hubby is having a very hard time coming to terms with the mess we're in and gets very nervous about our debt, yep should have thought about that, when we went on the spending spree…but again that’s in the past.

As you rightly pointed out when we signed on the dotted line with GE Money we must have been on another planet agreeing to those interest rates, but that life is well and truly behind us now.

Now that the Link loans have came back as enforceable, he's scared that they will go for a C/O and make us sell the house. Therefore he thinks we should be paying them the £250 p/m that we were paying GE money, I disagree and think we should wait. The only correspondence we have received from LINK is the original letter titled Letter Before Action from the 8th Oct. We received the CCA from them on the 21st Oct and haven’t heard anything since. So I thought the next thing we would receive would be some sort of legal/ court documentation??? Again don’t really have a clue what the process is.

As far as our other accounts go, he’s really nervous about rocking the boat with the other creditors as they seem happy and are accepting our payment plans, so again I’m working on this with him, I’ll keep my diary updated with the progress.

Thanks again and take care,

BMM

**Never-In-Doubt** · 10 November 2010, 21:29

Re: BMM Diary

Hiya

Ok thanks for the above.... I do understand. One thing to make you aware of, you've got the wrong interpretation of what a charging order is/does.... if one is awarded all that means is they get a second charge against the house, meaning IF you ever sell they would get paid prior to your equity being paid to you. In some cases they are not a bad thing cos they can sit there for years!

A secured loan etc could be worse - this is an unsecured debt, remember that!

---> http://www.insolvencyhelpline.co.uk/deb ... _court.php

Hope that helps..... just keep me updated yea?

**BMM** · 10 November 2010, 21:58

Re: BMM Diary

Thanks Niddy

I've printed off the C/O information and I'll show it to hubby, should ease his mind a bit. Not much equity, so they'd be hard pushed if they did try to force a sale. Will order credit file tomorrow to get account start dates, some are really old, dating back to early 90's so I guess when I convince DH to CCA them we'll start with those.

Take Care,

BMM

**Never-In-Doubt** · 11 November 2010, 23:05

Re: BMM Diary

Ok, keep us updated and best of luck - tell him not to worry

y

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