Hi, Please could anyone confirm if I can use the template for claiming mortgage arrears, if my arrears charges are for a secured loan with Kensington originally for 5,000? thanks

I am still trying to get these charges sorted out and called them again today. I have pasted in the last qtr statement but it does not even add up. (14.7%) is calculated on a balance of approx 5500 to get an interest amount like that and yet balance according to them is 2615? The guy on the phone advised that they are looking into what the true amount owed is as it appears that loan balance is growing (their system cannot calculate interest on a loan thats terms have come to an end appaerntly. Please could someone help and advise next steps to take? Thanks 01-Mar bal 2615.22 30-Mar monthly arrears 50 2665.22 31-Mar interest debit 74.23 2739.45 30-Apr monthly arrears 50 2789.45 30-Apr interest debit 83.06 2872.51 31-May monthly arrears 50 2922.51 31-May interest debit 86.76 3009.27

Hi I have a secured loan with KM for 5000 over 60 months. The payments were set at 166 per month and I was able to pay for around 3 years and then ran into some debt issues/problems. They seem to be in a state as the terms of the loan finished Dec 2011 but every staement they send me has a balance and an actual balance (further down the page) the reason for this is apparently their system keeps adding on the contractual due payment??? Every call I have with them, they at first state the balance (incorrect and inflated) and then apologise as the notes on my file show the true balance. I am pretty sure that most of the balance is now arrears fees of 50.00 per month, counsillor visit fees ( never seen one at my door, although cards are left) and interest. The interest is shown on one statement as 3 types being added in one month. as follows:- balance = 2562.04 monthly arrears fee 50.00 notice of default 5.00 interest debit 14.57 simple interest on ds 14.25 compound interest on arr 32.72 all of this added in one month and it continues monthly I tried to make an arrangement to pay (as I'm worried they will add more and more) and maybe go for court/eviction? I offered 350.00 per month and have paid 3 out of last 4 months, however they continue to add 50.00 per month + another councillor fee and all this interest Please could anyone help me with some advice or tips? Thanks in advance

thanks!! What do you think my best chances are? To admit debt but offer previously agreed dmp amount or have i other options?

sorry isuued 27 nov 2012

thanks, its MKDP LLP, claim on behalf of Barclaycard was assigned to the claiment on 11 01 2012, notice of has been provided defendant has failed to make payment in accordance with terms of agreement and a default notice has been served persuant to the cons credit act 1974 the claiment has complied as far as is necessary with the pre action conduct practise direction Thanks for any help.

About 2 years ago i had a dmp with cccs and everything was fine but i missed one payment to them and was late the next month, and they terminated my agreement. i was in touch with payplan and they recommended an iva rather than a dmp. I was struggling to get all the info required for payplan and started ( temporarily) to pay the creditors at the same rates ihad agreed with cccs. However, i have missed a few of these payments, due to other commitments and changes in income. Now, one of the creditors has issued a cc claim form for approx 3k at Northampton court. Please could anyone in the forum advise me on best way forward. I regret not keeping up with the agreed payments but am now in this position Thanks

I am in a dmp and struggling to keep up with the payments. At my work, my job has changed a bit and i now have to travel quite a lot. They are not keen on giving me advances and have advised me that I need to apply for a corp card (amex i think) to pay for my expenses, I am worried that due to my previous credit history that I may not be given one and also that amex could transfer my personal debt on to the corp account to get their money back. Please could anyone advise if this can happen and also any other pitfalls that may lay ahead. Thanks in advance!

Thanks for your reply, I was in a relationship when i took out the dmp and then after about 2 years i broke up with her, struggled financially for a bit and then foolishly took out payday loans thinking i could pay them back. they started to spiral and i couldnt keep up the payments on the dmp. i regret doing that and now looking for best way out of this if i get a chance to pay back but confused as to est way forward.

I have to make a decision on how to clear all this financial mess that I have got myself into and woul appreciate any guidance from the group. I have approx 52k of unsecured debt and was in a dmp but it recently fell behind. Another company (payplan) are advising that my best solution is to enter a iva. I have a mortgage which is up to date and approx 23k in equity. If i enter the iva would they make me give up he equity in the property and also could i lose my home or be forced into bankruptcy if the creditors don's accept the iva proposals? Thanks in advance.

Thanks for the articles & references. I had a look and just wanted to make sure that you think I'm good to go on a claim as my arrears only started from mid 2009 and the articles say that KM were bad during 2007/8, The main charges they are hitting me with on monthly basis are titled for 50.00 each and the note below states:- xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx we are not entitled to charge you interest on the default sums for the first 28 days after giiven you this notice. However, if the sums are not paid in full by that date interest will be charged at the rate of 14.55%. Since this interest rate is a variable rate the rate which we will apply to the default sum once the 28 days have passed may be different. Yours faithfully Credit management dept xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx They also charge a 5.00 default fee on a separate letter? Thanks again to everyone helping me out on this!!!

thanks for the info. KM are trying to charge me for everything ( arrears fees, counsellor visit, default fees, etc) would you recommend that I pay off the loan in order to get my security back and then make claims for everything (which will take time) or challange them now whilst the arrears and balance are still live? I'm a bit worried that they may start repossession proceedings and rack up even more charges if they have a chance and put me in a vulnerable position. Thanks in advance!

thanks for the reply. Just to confirm I did have a payment arrangement in place but could not keep to it. Can I still claim 100% of all the charges plus the compound interest back on them? Rgds

I took out a second mortgage, secured loan for £6k over 5 years and starting to run into payment problems after about 3 years into the payments. I had other credit issues too, payday loans, credit card arrears and foolishly let the arrears build up on the secured loan too. I now have a real problem as KM have been charging me a 50.00 arrears fee per month plus a 5.00 default fee. They also send out monthly, sometimes quarterly statements, but the amount are very hard to understand as the contractual payments (5 years should have ended last November) and now there should be arrears and interest being added (not ideal but i could at least understand that) I have received varying amounts of what they claim to be the arrears amount and the outstanding amount. I have a recent letter from feb 2012 advising that the balance is £2900 but the outstanding amount is £2600. I called them to try and sort this out in March and they advised that the difference was due to the fact that contractual monthly amounts were being added to the balance in error as the mortgage had technically finished in Nov 2011. In Mar 2012 I received another letter stating that the balance was £3476.00 ( an increase of £500 from Feb). I called and queried this yesterday and was advised that the balance was not correct due to contractual payments being added ( sounds familiar) and to call back and talk to another dept this morning. I called, before going to work and was advised that the balance was £3098.00. I asked about the letter claiming £3476 and they put me hold. I was then advised they needed to order a redemption statement as it would calculate everything correctly. ( hang on, I thought I was dealing with the finance credit team)..... I have racked up probably £1200 worth of these £50 arrears fees and interest on top. I also have examples of really bad admin ( other customers letter sent to me) an apology letter was sent out 6 days after receiving an arrears warning letter to say that they had made a mistake, another letter sent in 2011 advising that on reviewing my account they found interest errors going back to 2006-2008 and were making an adjustment of £31 credit to my account. and most alarmingly ..... a letter stating that some data (personal, name, address, and other details) had been given to a 3rd party company in error !!! they again apologised and said they were taking the matter seriously. All in all, I may have not paid on time and should charged some kind of fee, but..... £50 per month plus interest and they seem to be totally in a mess, advising incorrect amounts , losing data and apologising for either incorrect letters or interst calculations. Sorry for such a long rambling thread but they are really stressing me out now and any advice or pointers on what I can do would be much appreciated. Thanks in advance