Mitch177uk
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Thanks Mikey/Dodge Yes I paid Ardern to see my CCA and it looks totally legit, a photocopy with def my signature. A few weeks later though I received the letter that Idem were now the DCA- is this a coincidence? Wonder if the reason RBS cannot find my correspondence under SAR is because it went to the DCA? Recent correspondence from Idem has stopped saying Re:Lombard and now says RE:Acct Number xxxxx- again not sure if relevant but thought Id mention. Hidden away in the last letter was text saying that Idem First Finance were the DCA and not Idem Servicing. again not sure if relevant.
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Update, RBS Customer Services in Leicester have sent me a letter apologising that their SAR Team in Edinburgh have not been able to find any details relating to the sale of the debt, nor can they find correspondence relating to my offer of full and final settlement and their subsequent rejection letter. They have sent me a booklet on how to complain to the Financial Ombudsman but not sure what this would achieve.
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Thanks dx, just called RBS who will now have to call RBS. I asked for the date of the sale of the debt and any paperwork relating to it. I also asked why my prev correspondence of a lump sum offer in full and final settlement letter (for over 50% of balance) and their rejection letter was not included. Thought this SAR was to detail everything?
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Had my SAR request reply today but there is nothing about the loan which I am being chased by Idem for, only my 2 original loans. A covering letter states "...the account XXX/XXXX/XXXXXXXX mentioned on your request has actually been sold onto a third party company called Idem Servicing. We have forwarded all your details onto them". The original DCA was Westcot then Arden and has been Idem for last few years. Do I need to go back to RBS regarding why they haven't sent details of this loan or is the ball in Idem hands now?
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Hi dx, just checked the last letter from idem- it says Agreement type: unsecured credit agreement Company Name; Idem capital securities never noticed but no mention of Lombard it goes on to say my balance was purchased by Idem first finance (if of any relevance)
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sorry dx thought id posted here before but couldnt find my orig thread, thought it mightve been archived. I keep putting it off but now getting letters monthly from Idem asking me to contact them - all strangely since I contacted RBS?? Did Arden smell something when I asked for a copy of the CCA as it was only a month later when it swapped to Idem? ir is iy unenforceable. Should I have got my credit report first? have i done things wrong way around
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Hi all, Ive managed to do a bit on my own so far from reading advice but now need some more direct assistance pls. HISTORYIn 1998 i took out a £5k loan with Lombard. it was a 2nd consolidation of a 1994 loan (original had PPI which I am currently dealing with RBS about (but a separate issue to this). I defaulted on the loan in 2002 and through The National Debtline reduced payments to £10/m whilst I was in financial dire straits. I sold my house in 2007 and offered Lombard appx £2500 (debt stood at just over £5k at the time) in full and final settlement or i would use to pay off other debts which they turned down. Some months later I recvd letter from Westcot say they now had the debt and I had to pay them and I have been paying £10/m for nearly 13 years now. The debt went to Arden for a few years but once I asked for and received a copy of the CCA the debt was moved again shortly after to Idem Servicing (is this a coincidence?). As of today I received 2 letters relating to the SAR I sent to RBS regarding this 1998 loan - one says it gives me access to my data but does not entitle me to any Documents which may contain my data:???: confusing or what? - the other letter is asking me to ring my 'Case Handler' to explain what exactly am I after. This is where I need assistance; do i call and what is it I am actually after? is it proof they sold the loan and do I actually owe Idem the money? I may be being 'cash cowed' as you guys put it but need to know my next move pls
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Have I lost my Share Options?
Mitch177uk replied to Mitch177uk's topic in Employment and minimum wage problems
Thanks, I will ask for my countersigned copy. interstingly I can see all the Directors of the new company are getting millions of share options at 1p each, seems a bit unfair I have to pay 10p for mine, -
Have I lost my Share Options?
Mitch177uk replied to Mitch177uk's topic in Employment and minimum wage problems
Thanks , we dont have HR as we only have appx 25 staff, "..If the options should have been reissued after the takeover..." This is what I am trying to establish- should they have been? all my MD says is that the original agreement is still valid (@10p),but is not giving me any more advice. Im trying to find out if a) should they legally have been reissued @ 6.75p (as that was the price per share on takeover,as stated by my now retired CEO b)if not should they have made me an offer to buy my options off me c) will they lapse if the Ltd company (my employer) is sold -
Have I lost my Share Options?
Mitch177uk replied to Mitch177uk's topic in Employment and minimum wage problems
Thanks Steampowered, the company does have us under a previous name although strangely it gives a different registered address to that listed on the London Stock Exchange, Id have thought legally they must be the same?. My concerns are that if the sale of the Ltd Company goes through I lose my options; and if as an ex director friend of mine says they should have been reisssued to me post takeover at 6.75 p/share I stand to make around £3000 profit (currently 7.75) as opposed to losing them. They have been nearly 9p a few weeks back. If they stick to the 10p agreement I signed then of course I wouldn't be actioning them. -
Have I lost my Share Options?
Mitch177uk replied to Mitch177uk's topic in Employment and minimum wage problems
Thanks Steampowered, I am fairly sure what you say is correct, the board members are different from the old ones. I am very inexperienced in these matters and my boss (MD of the Ltd company who I work for) is either deliberately avoiding my questions or does not know himself. Can you explain what 'offer documentation' is? I have received nothing prior to or after takeover so what should I have got ? Ive done some searching on the web and can see alternatives including making me an offer to buy my unexcersised options to replacing with new options in the 'new' plc at the sale price of 6.75 p per share which is much better than my old 10p share options and would show me a small profit. I havent got much money but is this a legal issue to pursue with a solicitor, financial advisor or other party? -
I have worked for my employer for 12 years and as they were the only trading Ltd company of a PLC listed on AIM I started to receive several share option packs over the years as part of an Enterprise Management Initiative, however due to the price listed on AIM these were never exercised. About 2 years ago the company swapped all my old share options of 19.6p to equivalent number of 10p options. I thought this was generous and signed the relevant agreement but to this date neither myself of colleagues ever received countersigned copies back. Last year we were subject to a reverse takeover (unsure if reverse bit is relevant) by a company who now trade on AIM using 'our old account' but with a new name- essentially they needed funds from the markets to start a new overseas project and reversing into a PLC was easiest method. A retired Director I am friendly with told me the takeover was completed at 6.75p per share. I have had no correspondence regarding my share options since the takeover and when I ask my MD he states he doesn't know and he cannot get answers from the PLC Company Secretary or so he tells me - could he be lying? The Ltd Company has now been put up for sale by the new PLC as we are not part of their core business. Should the new PLC have offered me something for my options or swap for an equivalent share scheme or benefit in kind?, do they now even exist as the listing on AIM is under a different name to my previous employer? Any help would be appreciated as I am worried if we are sold quickly by the new PLC that my chance may be lost
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Many thanks , it hadn,t been explained to me before exactly how this works. I will contact the CRA suggested and revert, by the way Im fairly sure it was National Debtline and not a paid DMP
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Thanks Dx, I have been paying £10/m for over 7 years now to a variety of DCAs from an old debt arrangement made so statute barred is a non starter. I will send a utility bill as suggested, should I mention that Lombard have already corresponded with me at my new (5 years) address and that they should have my records on file? Of the 3 CRAs which would you recommend? thanks for your help so far
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Hi Dx, Im afraid without a current bank account, debit or credit card (both as a means of payment and identity) I cannot access any system. Do experian etc accept postal orders?
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Here is an update to ongoing saga which whilst slightly confusing to me , perhaps somebody could enlightem me as to what these chaps are up to. As previously stated Arden requested a copy of my loan CCA from Lombard which I received (my application actually if this is different?). within 2 weeks a company called Idem Servicing (almost same address in Solihull) sent me a statement. I have had no communication from either saying it had been passed on/transferred/sold etc. Is this a coincidence? After 3.5 months waiting for my SAR request I received a form from RBS stating They cannot find any records They need proof of my identity Surely they wouldnt give my CCA to Arden if they didnt know who I was? secondly when Lombard refused my offer of a reduced payment to clear the loan in 2007 in writing would they not have my address?. Im asked on the form if the SAR request is related to a PPI claim? do i answer? They say I must get my driving licence photocopied at a Branch as a true and certified copy to confirm my identity. Any advice would be appreciated
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Update: response from council makes me look foolish; apparently there is 59 years left on lease, house was built 1972 and the 99 years begins from that date. Here is their response below but I have one last question: If I buy the freehold and eventually sell the house can I either a) charge ground rent or b) sell the Freehold as a separate transaction are there disadvantages in delaying for a few years? (Dont have a grand at the mo!) Any advice would be appreciated I confirm that the Council are wiling to dispose of their freehold interest in the property. The long leasehold interest is for a term of 99 years from 25th April 1972, i.e. expiring in 2071. There is therefore just less than 59 years remaining unexpired. The ground rent is £16.00 per annum. If you wish to proceed with purchasing the Council’s freehold interest (i.e. effectively ‘buying out’ your ground rent) you will be required to bear our legal and surveyors’ fees of £300 and £100 respectively together with a standard charge of 25 times the annual ground. This would produce a total fee of £800. Accordingly, I would be grateful if you could confirm whether you wish to proceed with the purchase of the Council’s freehold interest for a total fee of £800.
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Thanks DX, no, I tried Noddle but as I dont have a visa/debit/credit card it wouldnt let me register, i suppose i could pay £2 for Experian I beleive? Is there a reason? Shouldnt I have had notice if my debt had been 'reassigned'?
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Latest Update: SAR Request sent to Lombard however I was getting concerned I had not received copy of CCA in the post as promised by Arden. I have today received a statement from a company called Idem Servicing of my last 12 months payments (nominal £10/m). Balance now £4969.66. Anybody got a clue what has happened here? have Arden sold the debt on.? Was my request for CCA and SAR not to their liking? PS Idem are based in Solihull, coincidentally so were Arden and also Lombard
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I dont think so Brigadier, Barclaycard sold the debt £687.80 to Cabot (27/5/05 -letter received 14/6/2005) which was who I sent the statute barred letter to (dated 23/2/06) having not made a payment or been contacted for over 6 years, I have heard nothing since. Is a copy of my signed application form an actual CCA?. I was advised it would help my application as it was my first ever (and to this date only) credit card??
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I know it may seem a bit cheeky but rummaging through some old docs I have a statute barred debt from Barclaycard but my application form shows I took out PPI. It was 1996. I also notice that I sent £1 in 2006 for a copy of the CCA but got my application form instead, does this act as/perform the same function? What are the chances of reclaim?
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Sorry Khemist it was done over the phone and I think ( bear in mind 4 years ago) it was the basic calculation of £16* x 8 = £128.00 *(sorry not £13 pa it is £16 paid in 2 x 6 monthly installments of £8). I will call them now to double check and give you update
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MBNA PPI reclaim rejected
Mitch177uk replied to Mitch177uk's topic in Payment Protection Insurance (PPI)
many thanks, currently awaiting my own SAR response from Lombard- will update as things progress, thanks -
Thanks Khemist, Ive been on the council website this morning, they say I can 'buy out' my ground rent. Is this one and the same thing? see below.......... Ive also been on the Leasehold Advisory Service Website which says I must have lived in the property 2 years before buying freehold; I wonder how come my solicitor said I could buy it when I moved in? How do I go about buying out my ground rent? In certain areas the Council has already made offers to ground rent lessees, and will be continuing this scheme in other areas in the future. If you wish to buy out now you should write to the Estates and Valuation Service, Council Offices
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MBNA PPI reclaim rejected
Mitch177uk replied to Mitch177uk's topic in Payment Protection Insurance (PPI)
Thanks guys, maybe didnt give the full picture having spoken with er indoors. She definitely was full time (+16hrs/week). She didnt know of this fantastic site and the 'procedure' therefore hasnt written to MBNA with FOS questionnaire or requested a sar, she did it all over the phone with their call centre. MBNA letter say this is their final response so can she not write to them again possibly with SAR request in first instance??
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