Hi I finally received a response from Central Lending about my charges. They are saying they are rejecting my complaint and they are not willing to do anything about the charges. I have attached a copy of the letter below and would be grateful if someone could advise me on my best response would be. Thanks in advance. Central Lending Letter.pdf

Hi. i wrote to them to highlight the charges issue ad claim back over £1000 in charges. I received a letter a few days ago from them saying the usual rubbish plus: "We can confirm that we will be conducting a thorough investigation into your concerns raised. once we have completed this, we will write to you again." They also attached details for the internal complaints procedure and said they anticipated that the reply would be no longer than 8 weeks. My question is should I write back and give them a timeline to stick to or await their response. My assumption is that they will hope i just give up and forget about it. Thanks

Thanks for the help Guys. I have finally received a copy of the terms and conditions of the loan and have attached them below. Central Trust Loan T&C's.pdf Thanks

Hi ims21 Thank you for your response. As you can imagine my concern is that after paying for this long it hasn't even gone down by a little bit.I just find it hard to get my head around the fact that it will ever change. I have re-chased the terms & conditions and should have them next week. With regards to reclaiming the charges should I just use the standard Credit Card reclaim letter template or is there a better one i can use? Also what should i use to work out the interest that has been paid on them Elsinore - Thanks for pointing that out I must of missed that one. Thanks for all the help everyone. It is much appreciated.

Thanks dx i appreciate to assistance.

Hi Yeah you are right the interest has only ever gone up. I find it difficult to get a response from the company that actually explains anything. I have requested the original T&C's and will post them up as soon as they arrive. It is my understanding that the interest is calculated each month for the life of the loan (it mentions on the agreement that interest is calculated at 0.900% monthly). Admittedly i was a little naive when i took the loan out however it was hardly explained to me at all. The application was done on-line and the paperwork sent to sign and send back. Very little contact was had from anyone at Central Trust. Please see below the main docs i have plus statments Central Trust Docs & Statements.pdf Many Thanks

The only other information i have relating to the application is a Legal charge sheet and Home owners application form. I do not have a copy of the terms mentioned on the agreement as they never sent them through with my SAR. I have since requested them. Also as the image is small above i have also uploaded a PDF below. Thanks Central Trust Agrrement.pdf

The loan was originally over 288 months. I have just written them a letter asking for an explanation as when i asked on the phone the response was "that's just what it is". I have a break down of the account month by month but it still doesn't make sense to me. i think its the charges that cause the problem (or a small part of it). it only seems that about £10/£20 is paid off each month by the time the interest goes on and with a £60 charge thats 3/4 months out the window in one go. it seems to act more like a credit card than a loan. A copy of the agreement can be found below. Thanks

Hi 42man There was no PPI, I don't think a broker was used at all (there is no broker fee on the agreement) and yes it does say variable on the agreement. Thanks

Hi All I am sorry if something like this has been posted previously but this site has become so big it is impossible to search it all. If there is an existing post that may help me and some one can point me in the right direction i would be grateful. my situation relates to a secured loan for £25,500 i took out with Central Trust (Central Lending Servicing) back in November2004. it was for debt consolidation but in hindsight was the worse possible thing i could of done. it was a joint application between myself and my parents and was secured on their house. I initially wanted around £22k but Central Trust said they could only offer £25,500, i am assuming this is so they could get away with knowing it was unregulated. Since my first payment in January 2005 i have paid a total of £27,592.27 off my loan. though my current balance still stands at £25,866.71. This is £111.71 higher that the original amount of £25,755 (£25,500 + £255 legal fee). My original agreement was for a payment of £250.79 for 288 months at a APR of 11.5% (variable). I am now paying £289.84 a month as they have increase my payments 3 times. i do not understand how they can get away with increasing the interest when interest rates have gone down!!! i have been paying the loan for 7 years and it has not gone down and seeing as they add the interest monthly i cannot see how this will change. A recent settlement figure explained that i still have £72k left to pay. This would mean paying almost £100,000 for a £25,500 loan. It seems rather excessive.! I have had charges added on to the loan for late payment (payments were never more than 30 days late) there have been 12 of these payments at £50 and £60. Since these total to £680 and will have interest for the full period of the loan then they will be rather excessive. i am not trying to get out of paying what i borrowed or anything but i do know what to do about it realising how much i will have to pay for this loan (and the possibility of it still increasing) is really causing me a great deal of stress. my original agreement was very basic and stated my payment amount and time scale so i knew what i was doing but after seeing that i have paid £27k and my balance has actually gone up it is rather concerning. i have sent a SAR and received all information. i have also contacted the Financial ombudsman but they cannot help. Is there anything that can be done? Many thanks for reading

Hi Sorry for hijacking a thread but figured this would be the place where people might be able to assist. I did create my own thread but have had no responses. Maybe it was in the wrong location?!? Afer being on this site for a few years and having success by searching other peoples info i finally need help. I have searched but am not sure how to progress. I have a secured loan with Central Trust Plc. The loan is for £25,500 over 25 years. I have recieved all my account info due to sending a Subject access request. The top of the agreement says in bold capitals NON REGULATED CREDIT AGREEMENT (which is fair enough). However, when i recieve any letters relating to missed payments ect they put on the letter 'Your credit agreement for you loan is regualted by the Consumer Credit Act 1974'. So i am confused to whether it is or not? My first issue is realted to enfocability. When i orgianlly took out the loan in Nov 2004 my payments were supposed to be £250.79 (288 monthly payments at 11.5% APR). The problem is in Nov 2007 my payments went up to £267.64 then in Sept 2008 they went up to £289.85 which they have stayed at since. They blamed it on interest rates at the time but then interest rates dropped but my payments did not. Can they get away with this kind of increase? In regards to charges. Twice since the loan started i have been made redundant and had some issues paying. I always paid but sometimes it was a little late. Each time a payment date was missed they added on a £50 or £60 'collections' charge. Which they are also claiming interest on for the life of the loan, considering this is a 25 year loan the charges are going to end up costing me thousands. The charges have already added up to £450 plus interest and will keep increasing. Is there anything i can do to get these charges taken off or at least stop them charging interest on them? Also is the loan enforcable or not since i seem to be getting conflicting information from them? i have won cases against Barclays and Lloyds in the past so am familar with terms ect but am just a bit stuck on this one. I would appreciate any help. Or even if someone could point me in the right direction. Thanks

Hi Afer being on this site for a few years and having success by searching other peoples info i finally need help. I have searched but am not sure how to progress. I have a secured loan with Central Trust Plc. The loan is for £25,500 over 25 years. I have recieved all my account info due to sending a Subject Access Request. The top of the agreement says in bold capitals NON REGULATED CREDIT AGREEMENT (which is fair enough). However, when i recieve any letters relating to missed payments ect they put on the letter 'Your credit agreement for you loan is regualted by the Consumer Credit Act 1974'. So i am confused to whether it is or not. My first issue is realted to enfocability. When i orgianlly took out the loan in Nov 2004 my payments were supposed to be £250.79 (288 monthly payments at 11.5% APR). The problem is in Nov 2007 my payments went up to £267.64 then in Sept 2008 they went up to £289.85 which they have stayed at since. They blamed it on interest rates at the time but then interest rates dropped but my payments did not. Can they get away with this kind of increase? In regards to charges. Twice since the loan started i have been made redundant and had some issues paying. I always paid but sometimes it was a little late. Each time a payment date was missed they added on a £50 or £60 'collections' charge. Which they are also claiming interest on for the life of the loan, considering this is a 25 year loan the charges are going to end up costing me thousands. The charges have already added up to £450 plus interest and will keep increasing. Is there anything i can do to get these charges taken off or at least stop them charging interest on them? Also is the loan enforcable or not since i seem to be getting conflicting information from them? i have won cases against Barclays and Lloyds in the past so am familar with terms ect but am just a bit stuck on this one. I would appreciate any help. Thanks

Hi Guys Just thought I would add my piece in here. I am currently building a case against Kerobo to expose them as the [problem] artists they are and I have to say the evidence is quite over whelming so far. I contacted them in regards to a £25,500 loan I had with Central trust. Knowing that the limit for loans protected under the Credit Consumer Act is £25,000 I thought I would see what they would say. After speaking to someone on the phone I was advised I should send the details to them as "you never know". I did send them the info and was curious to what they would come back with. Surprisingly they came back to me and said I would have a case and that I needed to pay £400 to progress. I paid them the £400 (knowing I would get it back through a small claims court if necessary) as I was curious to how they would d progress with this. Please bear in mind that I already had a copy of the agreement from Central Trust for the loan and in big letters across the top it says Unregulated credit agreement so I knew there was no way a claim could be made on it. You can imagine my surprise when I received a call stating that they had received a copy of the CCA from Central Trust and that they were pleased to tell me I had a very good case and it had been passed onto a team of solicitors who would contact me in due course and send a claim pack out. So I left them to it. After a few weeks I called ATM Solicitors (who apparently act on behalf of Kerobo) and they said they had my details and would be progressing forward and they were hopeful, so I left them to it. After a few more weeks I thought it’s time to catch them out. I called up Kerobo claiming to be a new customer and said I had a loan for £25,500 and that I had a copy of the agreement and that it had written on it that it was a non regulated agreement. The guy on the phone instantly told me that they could not help me and there was nothing that I could do about it. Now the fun begins! I responded to the guy on the phone by saying 'that’s strange as I am already a customer of yours and this is the exact same loan you are already dealing with and that has been sent to your solicitors as I have a strong case'. Now I have to admit it was rather satisfying to have one of the Kerobo sales guys on the other end of the line totally speechless. He had no idea what to say so I asked to speak to someone more senior. After being cut off and several attempts to call and several emails I finally managed to speak to the customer service manager. She said that there had been some mistakes and that they would look into it. I informed her that I was not silly and planned this from the beginning and they had failed miserably. I suggested she refund the money and that I would be reporting them. Needless to say she was not amused. After several more weeks of calls and excuses they finally sent a cheque for my refund. Sorry to go on but I think it is important for people to know how they operate and that I have failed to find one single person who has completed a claim with Kerobo (funny considering they mention that they succeed with 90% of cases). It’s all bull. They will tell you that you have a good case and will tell you what you want to here and will just lead you on and on until you get fed up. I’m guessing they just hope people will give up or are making money on the interest on the funds they receive before they have to refund it. If you want to know if you have a legitimate claim then either ask on here or go to a legitimate financial solicitor. ATM who act as solicitors for Kerobo are part of the same company and based in the same building and as far as I can tell only employ administrators as I never had the opportunity to speak to a solicitor and if you check online job boards they advertise a lot for admin people. If you have any other questions let me know and I will do my best to answer. I’m just trying to help people out. I hope this is evidence enough to their tactics and help avoid people handing money over to them. Thanks for reading.

mtt Did you find a template letter to send. i have th same issue. Thanks R