Hamilton/HFC/Endeavour.

di3004

magpiecottage wrote: »

Di - I think there is one, and only one, line you might try.

Click Financial Limited was directly regulated by the FSA from 14 January 2005 until earlier this year. That means FOS will have jurisdiction if it subscribed to the GISC Code of Practice at the time of the sale. However, Click Financial is in liquidation - so even if it did fall within jurisdiction and FOS found in your favour, you would only be an unsecured creditor and get your share the same as all the rest (and unless an Ombudsman made an award, it would not be legally binding anyway).

However, if Click did not subscribe to the GISC code and Hamilton did then you might have a case against Hamilton. The argument would be that because the GISC code required subscribing insurers to only accept businesses from intermediaries who also subscribed, Hamilton breached the code by accepting your business through an intermdiary that did not subscribe. Had it not done so, then you would not have purchased the policy and therefore Hamilton is culpable for the missale.

FOS should be able to tell you if Click and/or Hamilton subscribed to the GISC code. I suspect Hamilton did because it has been subject to FSA regulation since 2001 and is part of the Aviva Group.

Thanks.;)

On the Hamilton Payment Protection Policy it does state they are covered by the FOS and details of complainining to them if all else fails.
But you have made some very good points here. But if you check my post above the fos were unable to establish the relationship.

Unfortunately Click the ones we used dissolved in 2006, so could not do anything about them, even though they are running other businesses, same director as well.

marshallka

di3004 wrote: »

I just came across another yet piece of scrappy paperwork.

Insurance advanced 30/07/2004??

And another States this -
Brokers Deferred loan commission day one - £0
Brokers deferred loan commission - OVRD - £0
Brokers deferred insurance commission - £0

New business account - £21000
Collections account - £50211.22
Current account - £23646.04
Total Sundry control -£5565.18

I assume that means that commissions were paid immediately.

The others with money amounts would be what you received into the bank maybe - £23646.04, the amount of interest maybe £21000, the total of the PPI being £5565.18 iand the total of all three being £50211.22??? This would have been had the loan run its course.


Right Di, just had a thought..... you filled in your application on 16th July.....is that right. You had your money in the bank 30th July..... is that correct. When did they send the pre agreement to you that you should have had by law??????????

They have to leave you alone for 14 days in between - I thought.....(which was between the 16th July and 30th July as they are not allowed to contact you so when did they have any time to give you a pre agreement to you agreeing to the insurance????

God, this is just the same as Firstplus!!!

di3004

marshallka wrote: »

I assume that means that commissions were paid immediately.

The others with money amounts would be what you received into the bank maybe - £23646.04, the amount of interest maybe £21000, the total of the PPI being £5565.18 iand the total of all three being £50211.22??? This would have been had the loan run its course.


Right Di, just had a thought..... you filled in your application on 16th July.....is that right. You had your money in the bank 30th July..... is that correct. When did they send the pre agreement to you that you should have had by law??????????

They have to leave you alone for 14 days in between (which was between the 16th July and 30th July as they are not allowed to contact you so when did they have any time to give you a pre agreement to you agreeing to the insurance????

God, this is just the same as Firstplus!!!

Cheers Marshalka.:)

That sounds about right on the calculations.

And the application was made by Click on the 16 July that's correct and the agreement we signed (Endeavour) arrived on the 30 July and signed on the 30 July, they asked us to send it back immediately, HFC contacted us prior to this on the 26 July to go over everything before the loan was paid out, the money (although I will be checking again on the statements was already in our bank account by 30 July may have been just before.

So HFC contacted us 10 days after then, this was to go through all the details prior to the loan being paid out, I have a ink printed copy here from HFC/UK/ dated 26/07/2004- Customer Service Speak with Form, below the page is:
Once your loan is completed, if we can help you in the future in any way or with additional funds, please give us a call.

marshallka

(4) In the case of a distance contract relating to life insurance, for the references to conclusion day in paragraphs (2) and (3) there are substituted references to the day on which the consumer is informed that the distance contract has been concluded.

(5) In the case of a distance contract relating to life insurance or a personal pension, for the references to fourteen calendar days in paragraphs (2) and (3) there are substituted references to thirty calendar days.

This is interesting if your agreement included LIFE cover.... you should have 30 days to cancel and yet on the CCA (which we had which included PPI to cover LIFE) it only said 14 days????

http://www.legislation.gov.uk/uksi/2004/2095/regulation/10/made

Don't know if this is relevent to your loan too???

marshallka

di3004 wrote: »

Cheers Marshalka.:)

That sounds about right on the calculations.

And the application was made by Click on the 16 July that's correct and the agreement we signed (Endeavour) arrived on the 30 July and signed on the 30 July, they asked us to send it back immediately, HFC contacted us prior to this on the 26 July to go over everything before the loan was paid out, the money (although I will be checking again on the statements was already in our bank account by 30 July may have been just before.

So where was the pre disclosure documents? Going to google some more because I read about this with Secured Loans much the same as Mortgages?

marshallka

Di, your agreement is not regulated under the CCA is it because its over 25K? Did you have on the agreement that it WAS regulated? If it was not regulated then the above doe not apply perhaps? Surely though you should always receive a pre agreement, pre contract disclosure?

di3004

marshallka wrote: »

(4) In the case of a distance contract relating to life insurance, for the references to conclusion day in paragraphs (2) and (3) there are substituted references to the day on which the consumer is informed that the distance contract has been concluded.

(5) In the case of a distance contract relating to life insurance or a personal pension, for the references to fourteen calendar days in paragraphs (2) and (3) there are substituted references to thirty calendar days.

This is interesting if your agreement included LIFE cover.... you should have 30 days to cancel and yet on the CCA (which we had which included PPI to cover LIFE) it only said 14 days????

http://www.legislation.gov.uk/uksi/2004/2095/regulation/10/made

Don't know if this is relevent to your loan too???

I will get on to that now, thanks, but what it does state on the agreement is:

Your rights
Under the Consumer Credit Act 1974, we should have given you a copy of this agreement at least seven days ago to allow you time to consider whether or not to go ahead. If we did not, the Agreement cannot be enforced without a court order.

Don't know what that means though.


Cannot recall on receiving one prior to this, the ones i do have are dated 30 July only.

di3004

marshallka wrote: »

Di, your agreement is not regulated under the CCA is it because its over 25K? Did you have on the agreement that it WAS regulated?

Just copying what it says

Credit Agreement
regulated by the Consumer Credit Act 1974

So yes it was regulated. Loan amount £21K, PPI £2385.

marshallka

di3004 wrote: »

Cheers Marshalka.:)

That sounds about right on the calculations.

And the application was made by Click on the 16 July that's correct and the agreement we signed (Endeavour) arrived on the 30 July and signed on the 30 July, they asked us to send it back immediately, HFC contacted us prior to this on the 26 July to go over everything before the loan was paid out, the money (although I will be checking again on the statements was already in our bank account by 30 July may have been just before.

So HFC contacted us 10 days after then, this was to go through all the details prior to the loan being paid out, I have a ink printed copy here from HFC/UK/ dated 26/07/2004- Customer Service Speak with Form, below the page is:
Once your loan is completed, if we can help you in the future in any way or with additional funds, please give us a call.

So they advanced the money into the bank even before signing the agreement?

di3004

marshallka wrote: »

So they advanced the money into the bank even before signing the agreement?

Yes I'm sure they did, am going to double check on the statements, the first repayment date was 30/08/2004, so exactly a month on.

I may take a little while cause i have paperwork everywhere lol.