OK - I put in a claim for arrears charges and dd fees. They failed to acknowledge or defend so jusgement has been awared in my favour. Getting the cash out of them will be a different story as I have to go through their Indian call centre. Anyone out there have a UK number for them? On the R78 rebates, I should have an answer by the end of the week from the forensic accountant!! BobbyH

I totally agree. However, I have managed to secure the services of a consumer credit law expert and forensic accountants to audit 3 regulated secured loan agreements and their calculation regarding early settlements. I am questioning the amount I was charged on early settlement rather than the rule itself, although the rule itself is/was a tad unfair!

marshallka Have a look at this link, it gives the calculations for R78. It doesn't mention anything about 6 months interest though! There are lots of R78 calculators available on the internet Bobbyh Early settlement

Isthislegal - Just a thought, but has your ex-partner been receiving money from the CSA, if she has and your payslips match up to what he/she has been receiving then surely thats enough proof!

I am no expert, but be prepared for the long haul!! I too am trying to get a default removed from these people (for an aleged Next account). They have almost definitely not got a CCA for you!! I reported them to OFT - waste of time in my opinion I have made a complaint to ICO (in February 08) - I am waiting for them to call me back and let me know whether they have assigned my complaint to a case officer yet or not!! I'm sure some expert will visit this thread soon enough. Good luck Bobbyh

Not sure what you mean!!! please explain?

Sparkie Very interesting post! Lets just say you managed to get the CRA's into court and won, couldn't they just as easily refuse to hold any information on you, therefore making your creditworthiness (in the eyes of a lender) bad? I don't have a problem with CRA's holding/storing information about me just as long as it is lawful and correct! BobbyH

Yes, I wrote them a letter explaining the situation and attached all of the correspondence. This was 3 or 4 weeks ago and still no reply!

Hi Steven I have various email from Barclays Legal Clerk saying: "Monument have told me that they have also made arrangements for the default that they had requested to be removed" "Thank you for your letter of 4/2/08 regarding the default. I have been informed that there is a turnaround or apporx 2 weeks for the default to show as removed. I have re-requested the removal to Monument" "I have made some more enquiries with Monument and they have confirmed that they have already requested that the default be removed, and it is just a matter of the turnaround time that the CRA's require to update their records. As I am sure you understand this period of time is dependant on the CRA's concerned and I was told that a 40 day period was considered normal" "I have been looking into this for you and have tried to work out why this delay has occurred. I referred the request to a senior Barclaycard manager, who has told me that the request for the removal has definitely now been made (I am not sure whether the original request was made) and he has asked for it to be fast tracked" These are just some of the email replies I have received. It seems that Monument placed the Default with the CRA's, however, the debt is now owned by Cabot and as owners of if they won't remove it either! Really not sure what to do next! BobbyH

I have 2 defaults on my credit files. 1 - I recently won back my charges from Monument (£2.9k) and part of my POC was Default removal. Monument agreed to do this! Low and behold they haven't and its now come to light that Cabot (who purchased the debt) actually placed the default and won't remove it despite the default being there because of unlawful charges and despite the fact that I never received a default from Monument or Cabot!! What should be my next steps? 2 - I have a Default registered by London Scottish (Robinson Way) for a mail order account which has nothing to do with me. Never had a mail order account in my life! I CCA'd them, but they just replied saying that the CCA is not available on mail order stuff. They couldn't provide me with a copy of the Default nor a Deed of assignment. Apparently this debt is for approximately £700. I have complained to the OFT (they are not very helpful!) and I have comlained to the ICO, who will investigate, when they get their arses in order, I complained to all of the CRA's also but they are not very helpful. I'm not really sure where to go from here!! Neither of these companies are chasing me for these alleged debts and I wouldn't pay them if they were, but I really need and want to rid myself of these Defaults, especially the one which has nothinig to do with me! Any ideas anyone? Thanks BobbyH

I believe that secured loans upto 25k are covered by the CCA! Proper mortgages generally aren't regulated by the CCA!!

Smartmartian10 What information did you want from Next? was it the CCA? Could you explain, as I need to get a default removed from these people! Thanks BobbyH

Haven't you given them enough time to pay up. If it were me I would go for judgement!! I did and got all the charges plus CI! BobbyH

I haven't even started on the PPI yet. PPI appears on all 3 secured loans!! I would say you have a good chance of getting at least 3 months interest back. Just as an aside, when you redeemed the loan did they refund any of the PPI single premium? as the £5,200 was a single premium for 60 months and you only had the loan for about 10 months!!! Anyway I still haven't had a reply from the "Forensic Accountant" but will post when I do, although I'm fairly confident he will say that they have charged me too much when Is ettled early. I have checked the Ruleof78 calculations and they come to nowhere near what I was asked to pay back! Anyway, will post as soon as I hear something! BobbyH

Hi Bigmark Was yours regulated by the CCA? and did you have a fixed, discounted,c apped interest rate? Mine was regulated by the CCA and I was on their standard variable interest rate! Anyway, I have passed all my documents onto a Consumer Law Expert who has passed these to a forensic accountant!!! I'll let you know how I get on! BobbyH

Thanks for your reply. My terms only say things which relate to the CCA. However, on the agreement itself it says: "You have a right to settle this agreement at any time by giving notice in writing and paying off all amounts payable under the agreement which may be reduced by a rebate" Thats all there is, nothing about 3 months interest, early redemption charges! BobbyH

Bump

Hi there. I had a "secured loan agreement" with Future for £26,390 back in October 2002. I redeemed this on 1 April 2003. Firstly this loan agreement was regulated by the Consumer Credit Act. Secondly the loan was on their standard variable interest rate. Yet they still charged me an early redemption fee of over £2,000. I think I have read somewhere on this forum that there are/were strict rules to repaying loans early which were regulated by the CCA. I believe the Rule of 78. I am write in thinking that they shouldn't have charged me this early redemption fee? and if so what should be my first steps, if any? Thanks BobbyH