Uneneforceable & Voidable loans

Dicklad

Hi,

I understand your point. However, would you not be willing to pay a small fee of £250 + to a comany who sorts it all out for you. e.g. if that can make a claim of 5k + off a old or current mortgage? i know i would.

angelwillow

I also don't think it's fair for people on this site to slag off certain companies if they haven't had dealings with them - makes you wonder if they have a vested interest in anyway?
Because of my money troubles I have an independant financial adviser and he has looked into a few of these companies for me and I know atleast one of them mentioned has had success through the courts.

treliac

di3004

The first post of this thread gives a good explanation of the situation so, if you don't have much time, at least look back at that post.

Homer_j hasn't been around for a while but he and petermb seem to be the two best informed on the forum and will, hopefully, be back to update some of the more recent enquirers.

di3004

treliac wrote: »

di3004

The first post of this thread gives a good explanation of the situation so, if you don't have much time, at least look back at that post.

Homer_j hasn't been around for a while but he and petermb seem to be the two best informed on the forum and will, hopefully, be back to update some of the more recent enquirers.

Great thank you, reading some of the information I also note there is a bit about secret commission, when I was sold the loan these prior to the stated year, I received some SAR information on request where I then come across Broker Commission and the amount this was £1650, and another one of the loans was over £4K in commission, now on this one it stated commission but surely that would be for the broker wouldn't it ?;)

How would I tackle these ?
I had won a biggish mis sold PPI claim a few months ago against Nemo dealt with by the FOS, but then I did not know anything about this commission thing, so as this one is completed and won can I still tackle this with the company regarding the broker commission ?

Sorry for the questions but I do find this very interesting, I do however recall on the last loan 2006 that the broker said they will get paid commission but did not disclose the amount, I thought nothing more of it until I seen the £4K approx on the recent SAR, will dig this out and double check.

Thank you.

Di.
xxx

petermb_2

A post script to the debate about paying fees up front is now becoming prominant. The Minsitry of Justice who regulate claims companies has posted a warning on its web site advising the public to think very hard before parting with hard earned cash up front.

The ethical way to run claims that are over £5000 is to use "Access to Justice", which is the "no win no fee" with the win fees levied to the lender not the client.

There is no need at all to pay up front fees. In fact there is no reason why you should pay any fees at all for this sort of service, win or lose.

pinknico

The only company that I have found does not deal with settled loans, does anyone one have any advice on this. It was a secured loan with single premium PPI in 2003.

maxdp

Hi

Yes I have some going through at the moment on a no win no fee basis and I have paid nothing up front apart from £10 for SAR which was made out to the company i was claiming from

k1mmie

Please advise what I can do about a loan we had with Lloyds. This loan goes back a few years. It fell into default. Then all went quite. Then got a letter from DCA. Hubby unemployed so made a small offer and paid it to them each month. I then learned of a SAR from this site. Sent this to the DCA who came back saying have forwarded this to client who will be in touch. This was over a year ago and they never came back. I even applied directly to lloyds with a SAR as I wanted to see what amounts were due to charges to reclaim. They wrote back saying we have no details of you. So we left it. We then started getting letters a month ago from a solicitors saying that we had ignored all their attempts to contact us to repay this amount. We wrote back with original copies of all the letters and I told them their client had sufficient opportunities to provide the necessary paperwork but failed to do so. They then wrote again saying we have contacted our client who will forward this information direct, but it may take 8 weeks. What can I send them in response to say - sorry pals time up I think it may be unenforceable now!

petermb_2

Write back to the solicitor requesting a copy of the agreement under section 77 of the Consumer Credit Act. Enclose £1 cheque or postal order.

If they have no records of you then they cannot provide you with a copy of the agreement, therefore they cannot enforce the agreeement.

k1mmie

Hi Peter. Thanks for that. Do they have a certain amount of time to reply?