Hello, I know a lot's already been posted on this subject but I'm being cautious and seeking some feedback from seasoned members. The above - named have a 2nd charge on my property, originating from an MBNA card balance that I defaulted on back in 2003 or 2004. I finally spoke to someone at dlc and they indicated that although they didn't settle on secured loans that I could still make an offer and they'd "pass it upstairs" for consideration. Below is a verbatim copy & paste of the letter I'm about to send with all personal details omitted. My questions for the forum users: - Will someone give my letter a once - over and give me some feedback, please. - Is this communication better off coming from my father, along with the cheque enclosed, seeing as he's the one lending me the money? All feedback and advice gratefully received. Thanks.

Hi all, We ended our tenancy early (with landlords agreement we have a signed deed of surrender). We owe the landlord a few days rent which we agreed to pay. When we asked initially for details of the deposit scheme the LL had used we received no response. We have written three times to ask for the information to no avail. The LL has now sent us some cash but has deducted over £260 for various 'issues' all of which we would strongly contest. Points: 1. AST from 2012 2. contract states deposit scheme will be used although not which one 3. no inventory completed 4. we have vacated the property (in very good condition and we did take some photos as evidence). LL is now saying our money was not put in a deposit scheme because we refused to pay the £25 admin fee. LL has made this up and is now saying this after a month of us trying to get our deposit back. We have previously rented and all our other landlords used a deposit scheme and we got all of our deposit returned with no problems. We had assumed that our money was safe and maybe the LL had overlooked sending us the paperwork. LL also has numerous other properties that they rent. Is our only option to take the LL to court? If so any advice would be gratefully received.

Hi, myself and my wife have a secured loan with welcome finance but due to financial difficulty and other issues we have had with Welcome we have not been paying it since 2010. We have now received letters to say that the debt has now been sold to Cabot and they now hold all rights to the account. They have appointed Marlin as their managing agent. Does this mean that this account is no longer a secured loan? If it is not, does this mean that welcome never executed the loan correctly in the first place because they could have just gone for a repossession. Forgot to add, this account does not appear on our credit file and has not for over a year.

I am new here but I have been reading about Idem. They have written to my husband only regarding our joint loan being transferred to them. They have given us a new account number and some basic info regarding paying. They have not confirmed what we should pay, or given any in depth info about the balance. What should we do? Is our loan still secured even though we have not agreed for Idem to have this? Is this even legal as I thought the homeowner has to agree security or the company has to get a court order? I am really confused and need some help as from what I have been reading about Idem they are really nasty and add alsorts of defaults to the account.

Hi, I have a secured loan with Citi. we have been paying them on a monthly basis as per normal via Direct Debit. I noticed last month that they had not taken their payment as normal. So I contacted my bank and they advised me that Citi had cancelled the Direct Debit. I have not contacted Citi about this and I would like to know where I stand with this as Last months and This months payments have not been paid.Please help

Hi I have a question about a secured loan i took out several years ago. I dont want to give to much info at this stage however I took out a loan and the maximum I could borrow was 125%, i actually got given between 145% & 165% LTV depending on the valuations done by the loan company at the time. The 165% loan was almost 10x the equity I had in my house. They loan company based my loan on my valuation which was just a stab in the dark. They accidentally sent some documents to me the other day which showed they did a valuation on my house which was massively under what I had thought the value was at the time. I would have never taken on such a huge LTV if I had known the value of my house was lower than what I thought as I would be in negative equity for ever. Do I have a case for irresponsible lending or mis sold case? I have struggled for many years as i could not really afford the loan anyway but have always paid the lender each month because it was secured on my house. Anyone have any thoughts... ..and yes there is a degree of stupidity in taking the loan out in the first place but i was desperate.

Hi, I hope you can offer me some advice and help on how to proceed... In 2006 I took out a secured loan with Welcome Finance, Some time later I fell into financial difficulties and went down the route of reduced payments for quite a long time etc. Welcome contacted me via a company called Empingham resolution and negotiation, Effectively chasing the debt. I replied offering a full and final settlement (reduced) and after much going back and forth, this has now been accepted. Today I received the following email from Empingham: Your Empingham Ref: xXX Creditor: Welcome Financial Services Ltd Welcome Finance Ref: xxxxxx Amount Outstanding: £xxxxx Agreed Settlement: £xxxx Payment Due By: 30/04/2014 Further to our recent discussion, please accept this email as confirmation that we will accept £xxxxx00 as Full & Final Settlement on the above account on behalf of our client. Payment is due as per the terms mentioned above. Although Welcome Finance will remain the beneficiary for the funds, payment must be made directly to Empingham Ltd. This offer will not be presented by our client again, and non payment of the figure would result in the full amount being payable. Payment may be made using any of the following options; • By Credit/Debit Card by calling 08452 606 985. • By CHAPS transfer to Empingham Ltd’s Client Account. Sort code ------- Acct No.-------- quoting your Empingham reference number. • By sending a cheque made payable to Empingham Ltd quoting your Empingham reference number. • Secure online payment ALL PAYMENTS MUST BE MADE TO THIS OFFICE TO ENSURE SWIFT REMOVAL OF YOUR DEFAULT My main concern is that they want payment to be sent to themselves rather than directly to a Welcome Finance. Is this safe? Do they need to have had the debt assigned to themselves for this to be legit? also, no mention of removing the legal land registry charge has been made, I will of course asked for confirmation that this is the case. what should I do? Get Welcome finance to confirm that Empingham is authorised to carry out the transaction and that charge and default will be removed? help!

Hi, This may be an odd question but here goes. I have a CCJ instalment order which I pay £40 monthly, and they also got security on my property for 9k when Restons took me to court for unsecured credit card which I did try and fight but they got security and an instalment order. Now I am at a bit of a crossroads as I dont live in the house, it was rented and I was going to sell and may have a potential buyer. I am now thinking of moving back in the house as the equity may not be enough to repay my other debts and would want to come out debt free, however if I sold but would be about 2k short. So my question is if I rang up the lovely Restons and said I will sell the house if you pay me back 2k otherwise I will move back in and pay my £40 til eternity what reaction do you think I would get (I am a single parent so unlikely they could force sale if I moved back in the house) Is there any negotiation after security granted? If anyone could offer advice it would be appreciated.

morning all i think im going to claim against kensington on behalf of my two sis in laws one of whom lost her home and is now in rented although she didnt keep up with payments (split up with partner) and they repossessed her home she hasnt even got any paperwork from the repossession etc but i KNOW there will be loads of charges there also other sis in law who is being hammered by £50 charges often what i find is strange is the fact that in the last week i have rang one has said she is in line with the court order imposed at £9 per month above the contractual £199.99 per month and the other said she is in arrears to the tune of £400+ she was on a payment plan although in default according to phone call 2 she was in default according to number 1 however when i asked in line with the court order they said in default by 40p so we promptly paid £1 on her credit file last time she defaulted was may they just tried to add councellor fees on but i cancelled this she has recently been treated for mental health issues and has been told to get letter from gp which we have requested and will forward a copy to them in the first instance i am going to sar on behalf of the two SIL's wish me luck i will update as we go along here

Hi there I am new to this site but I really don't know where to turn at the minute. A few years a go I took out a business loan for around 140K. Due to a series of issues I had to walk away from the business which naturally left me with a considerable amount of debt that I haven't been able to pay. The loan was secured against two properties (one commercial and one my home). The bank repossessed the commercial property last year and until today I have had no contact from the bank at all when today they sent me bank statements for the business loan account and my overdraft account. I was absolutely shocked and now extremely worried to see that since February 2013 they have charged me £5,880 in interest on this. Also there is a deposit of 46K. I haven't paid anything in so I can only assume that this money has come from the sale of the commercial property. I just don't know what to do. I have had to correspondence from the bank. Surely if they have sold the repossessed property I should have been told about it and I am disgusted as prior to repossession I had the property valued at £110K. I need to write to the bank and raise these issues as a matter of urgency, they have dealt with the whole issue very badly. Can anyone please help with this. I don't know where to start or what my rights are. Can I try and regain some of the interest they have charged. Naturallly if they are going to continue to charge me over £600/month interest I'm going to get nowhere with trying to make any repayments. Also should I not have been notified about the sale - what is the normal protocol, I've never been through anything like this before and me and my family are now suffering considerably. We are now left with a shortfall of over£100K and they will be after the house next -what should I do, anyone, please???

Hi, I'm new to the CAG I'm I am sorting out a similar situation where ocean money have passed a secured loan through to reliance property loans and I want to offer them a lump sum to get rid of the loan. Two questions I'm wondering if the poster had any success with offering them a percentage ? also more generally, whether that approach usually works ? thanks in advance...

I really dont know where to start here but i will try and explain as best i can. The main reason for the post is to find out if the repossession is legal which is only the tip of the iceberg here. A financial adviser is contacted to source funding for a small residential development. The adviser contacts a company who happen to be a broker. The broker sources funding from a lender and charges £1,000 app fee. The application is made to LENDER which was successful, no issues. The name of the company at the top of the facility Letter is lets say "The Lender" There is no address or contact information of any kind within the contract other than the name of the company at the top. As the contract was to release the funding in stages, the first stage was released and work carried out to complete all underbuilding work. Not further funding was released after this due to the lenders demands outwith the contract. One thing led to another and the issue was unable to be resolved. The lender decided it was time to both serve a calling up notice and subsequently a court writ to repossess the partially developed land. This is where things start to open up and i find out who is who The issue is that the pursuer is a Limited Company, the same Limited company that the broker was a trading name of, effectively what this guy is saying is, the broker and "The Lender" were both trading names of the Limited Company- How was i to know that when the Financial Adviser requested £1,000 app fee payable to the lender and also there would be a £1,500 fee payable to the broker for sourcing the lender? Effectively it now looks like the Director of the limited company not only charged me to find the lender but HE was the Lender. Now, to make things clear. The Limited company using the two so called trading names had a Consumer Credit License (Legal Formation: Body Corporate) (Nature of Business- Mortgage Broker) (Category-Credit Brokerage) this is very clear from OFT. "The Lender" also had their own CCL as a separate entity,(Legal Formation: Partnership) (Nature of Business-Mortgages) (Category- Credit Brokerage and Consumer Credit) this is very clear from OFT. "The Lender" from the mass of information i found out about them has been a Partnership company for many years but the Limited company who is pursuing the repossession has only been set up for over a year. I am of the thinking that, as nothing mentioned in the contract about a trading name of the Limited Company (which would be a breach of the Companies Act) if it were the case. The limited company did not hold any CCL to be a lender. The Partnership was established at least 10 years prior to the Limited Company being set up, and most importantly, there will be litigation against the lender for breaching the contract it is simply a move to limit the liabilities to the Limited Company that seemingly does not much in the way of liquid funds. Another slight twist is that, the broker and lender have no association whatsoever with the Limited company now they are now trading names of two other Limited companies this guy has set up and the CCL status of all companies is that they are Mortgage Broker NO MORE BEING A LENDER! Again, just to add a little spice. the three individuals who own the Partnership/Limited companies have between them Dissolved over 40 companies within the last 8 years or so. Should it not be "The Lender" named within the contract pursuing repossession. Should i be suing a company not named on the contract and also unauthorised to lend? As i mentioned, this is the tip of the iceberg, Thanks in advance

Hi, Im new to this forum so looking for some guidance. Me and my partner took out a First Plus loan back in 2004 for £55000 at an APR of 10.5% over 300 months. We took out the optional Payment Protection Premium which came to £13469. We had been paying this off at monthly payments of £623. Due to other financial difficulties with my wifes redundancy etc..we defaulted over the years and trying to pay the installments ontime was difficult due to FP's variable interest rates, and the monthly installments kept going up to about 700 per month. We have received a letter from FP looking for a payment plan and they say that we now owe £79,500 which includes outstanding arrears and current interest rates. They are asking for £800-900 payments per month which I just cant afford, I am very worried now that they will call for an eviction notice. I was hoping that I might be able to claim back the PPI, reading some of the forums I have downloaded a PDF copy of SAR. I was thinking if I claim back some PPI on the loan it might decrease the amount I have to pay to a more acceptable level. If anyone can give me any guidance on this I would be eternally grateful. I feel as if im at a brick wall and really need help. I am in full time employment with a hard working wage to see my family through but getting sucked dry by these FP people. My loan is now in the hands of TLT Solicitors. Kind Regards Alan

This post is relevant to all customers who have a secured loan with Barclays Firstplus. I know secured loans are a dirty word but a lot of people have them rightly or wrongly. Last month, a customer of Firstplus has had a judge rule that the interest rate variation clause within their agreement was unfair, citing 5(1) of the Unfair Terms in Consumer Contract Regulations. Specifically this states Unfair Terms 5. (1) A contractual term which has not been individually negotiated shall be regarded as unfair if, contrary to the requirement of good faith, it causes a significant imbalance in the parties' rights and obligations arising under the contract, to the detriment of the consumer. The judge ruled that the contract could continue but the right the vary the interest rate was removed, reverting the loan to a fixed rate as at inception. As it stands Barclays have not appealed the decision, and as this decision has been made in a lower court it is not precedent setting. Is it cynical to opine this is why no appeal has been forthcoming????? A group of us have been battling the regulators for years arguing this very point, i.e. that the right to vary has been misused and is fundamentally unfair. The OFT presumably found fault back in 2010 as they issued a CCA section 33a reprimand, however legally they have no retrospective impact, and amazingly the OFT wont tell customers what exactly the reprimand was for, and I quote, "because it would harm the commercial interests of Barclays if they did". Long story, not going there with that one. What customers need to do now is ask Firstplus and the regulators what they intend to do about this legal ruling. The clause has now been ruled unfair. There are over 50,000 customers with the exact same clause. ALL are paying more than they were at inception. An example of the potential financial impact. My APR started at 8.4%, it is now 9.2%. A retrospective realignment to a fixed rate of 8.4% would reduce my liability by £8,000. I have drafted a note below if anyone needs to cut and paste, but whether you use this, or draft your own, it is in your own interest to challenge the ongoing profiteering. The FOS, the OFT and the FCA have all received a copy of the court judgement, however as it stands none will commit to doing anything about it. Something like this should do. Please send to: Firstplus - customercare@firstplus.co.uk THE FINANCIAL OMBUDSMAN SERVICE, complaint.info@financial-ombudsman.org.uk THE OFFICE OF FAIR TRADING, enquiries@oft.gsi.gov.uk THE FINANCIAL CONDUCT AUTHORITY. consumer.queries@fca.org.uk -------------------------- THIS NOTE IS SENT TO FIRSTPLUS, THE FINANCIAL OMBUDSMAN SERVICE, THE OFFICE OF FAIR TRADING, & THE FINANCIAL CONDUCT AUTHORITY I am writing as a dissatisfied First Plus customer. For some years now, many customers have been complaining that the interest rate variation clause(s) in First Plus secured loan agreements is unfair. The result being that all customers, including myself, are being forced to repay significantly more than could reasonably be expected when the use of their widely drawn interest rate clause is applied in an imbalanced and unfair manner. Last month, a fellow First Plus customer had a court rule that their interest rate variation clause is unfair under 5(1) of the Unfair Terms in Consumer Contract Regulations. The variation clause in question is the same clause as the one in the majority of First Plus customers agreements - namely clause 7. The key wording that is significant is as follows: "We may from time to time vary our interest rate. We may increase or decrease our interest rate to reflect a change which has occurred, or which we reasonably expect to occur in interest rates generally or to ensure that our business is carried on prudently, efficiently and competitively" [DELETE THIS NEXT BIT IF NOT RELEVANT TO YOU There is a variation of this clause that includes a reference to FHBR: "The interest rate on your account will not in any twelve month period, vary by more than twice the variation in the Finance House Base Rate published by the Finance and Leasing Association during the same period. If for any reason, the Finance and Leasing Association ceases to publish the Finance House Base Rate we may refer the variation in our interest rates to any other Base Rate which in our reasonable opinion best matches that rate." ] The key elements of the clause are detailed as above and the declaration that the wording is unfair should apply to all customers, including me. I understand a copy of the court judgement has already been sent to you. As you will have seen the judge has ruled that the contract can continue. The understanding is that the declaration of the clause being unfair would strike the clause from the contract thus disabling the ability of the lender to vary the rate with the loan reverting to the incepted APR and the loan being restructured and reset accordingly. Can Firstplus please advise whether or not it is your intention to retrospectively revert my loan to the inception rate APR and apply it as a fixed rate going forward? Can the OFT, FCA and FOS please advise me what action it intends to take against Firstplus, as I continue to suffer financially from the penal nature of the application by First Plus of their interest variation clause, which I now note to be legally unfair. I would respectfully ask that you provide a response to myself within 10 working days. Regards

Can someone kindly advise how to calculate possible PPI reclaim amount ? I have calculated my monthly PPI interest amount figure using forum details located in which I have already paid over120 months but still have 60 months to expiry. Any assistance would be appreciated as I would like to know a possible figure in order to compare with Welcome's offer if successful.

My husband and I took out a loan (secured) with our friends at Welcome in 2006 for £10,000. We have had our PPI refunded already. We have approximately £4500 left on the account which is in default and with their "last chance saloon" department so no further interest is being added to our account. We are meant to be paying £220 per month, but at the moment are experiencing financial difficulties and they are not willing to help. My husband is highly likely to be made redundant in February and will be getting a payout which we intend to use to clear some debt, this being one of them. I have been paid today and after paying everything am in the red by about £200. I have spent most of the day negotiating with everyone I owe money to in order to get reduced payments for the next 2 months as I should be in a better position in the new year as a few debts will be finished. The last time I spoke to an account manager at Welcome they told me that the next step is to get an attachment of earnings on my salary and that was that, really quite an upsetting conversation. Now I do know that they have to take me to court etc first but with my DD due out on Monday has anyone got any suggestions of how to deal with them. I have 3 children and need to live but though I have dealt with PDL companies, this lot intimidate me

Hi, Just a quick question. Is it legal for a company to continue to charge interest on a secured loan after the person who took it out has died and they have been informed of this? Thanks in advance.

Hi all, I could do with some advice on our secured loan with First Plus which is for £30 K (plus PPI of £8K ) taken out end of 2003. Firstly we are having no luck reclaiming the PPI, we have been trrying since 2007, FP claim we bought loan and PPI through broker Central Trust even though we were an existing FP customer at the time and got a call from who we thought to be FP offering a further advance on loan, we were deceived into thinking we were speaking to FP when we were not !! FP will accept no responsibility for PPI as sold through Central Trust ( even though they must have given them our info as they called us!) Central Trust were not regulated at the time so wont do anything, we still have an official complaint with fos which is now being fast tracked due to hardship but FOS have already told me it is very unlikely they can help as they have no jurisdiction !! Shortly after taking out the loan I became ill which then got worse and I am now disabled and my husband is my fulltime carer, we have 3 kids and our house has been specially adapted for my disabilities hence why we really need to stay here. We also have a main mortgage with Barclays which is up to date. Over the last few years we have awful problems meeting the monthly payments and the account was passed to and fro different debt collectors who just kept on telling us to make reduced payments etc and in the meantime we heard nothing from FP, no statements or letters about arrears or how we would pay them back etc. 2 years ago we started getting some help with mortgage interest from DWP so we have since been paying our full monthly payments plus some off arrears and again heard nothing from FP to say this wasnt acceptable . In June this year completely out of the blue we got a default notice from them demanding we pay them back the arrears of £8000 etc, I called them and for once spoke to a very nice lady who set up a proper arrangement to pay our monthly contractual amount plus £130 per month off the arrears, this would clear the amount in approx 2 years, they would not consider spreading it over alonger period !! we are now paying more for this loan than we are our main mortgage for over £100k !! We have been paying it as arranged but we had a hiccup last month as we have absolutely no savings or credit cards etc and needed to buy kids school uniform for them to be allowed back to school I called FP spoke to a lady who said thats fine as long as you pay by end of week you wont break arrangement (they claim she said to pay by the 5/7 which was a thursday but I am sure we agreed end of week and I paid on 7/7) the account is now up to date until end of this month. To our shock we then got a default notice dated the 9/9, thinking it was a mistake I called them straight away, really horrible woman said it was correct we had broken agreement and there was nothing she could do and that our account had been sent to Eversheds, their solicitors who would be seeking a suspended possession order, she refused to put me through to manager or even the complaints dept I have raised an official complaint on the grounds that it is very unfair of them to do this to us when we had notified them, they agreed and we paid when arrnaged, so far I havent heard back from them. I am beside myself with worry and my health is being really affected by it, not only does it seem that due to the fact we were lied to by FP and contacted by an unregulated broker we are stuck with the useless PPI and all the interest charged upon it, but now they seem hellbent on repossessing our home! We have infact paid them over £1800 off arrears since June as we also gave them a lump sum of £1500 we borrowed from a family member, arrears are apparently £6400, there is no way we can raise that kind of money but can happily continue the current arrangement, what do you think the chances are of a judge granting them a suspended possession order when we are not saying we cant or wont pay, I wouldnt care if we just didnt bother too ask them if it was ok but we did !!! Any help very gratefully received, thanks so much everyone

Can someone tell me please if a Welcome Secured loan, which has never actually been secured on the property, can be treated as unsecured. I have recently discovered that my secured loan is not recorded on the Registry anywhere. I have not made any payments for around 4 years and apart from a few threats not a great deal of contact

Hi have got two secured loans with ge , both over 10yrs both insured but only for one of us ,and they only insured them for 5 years.the time is up but we still owe a lot of charges , can they try for possession thank you

Hi there, I wondered if anyone can help please? I stupily took out, in total a £58k loan from Picture and then got into difficulty. Picture then froze the interest when I got into arrears. I was single, living alone and panicking about my finincial situation and this option was put to me via a broker (who's now bust) I have £6,500 of arrears from 2006 but kept paying the same original agreement amount of £660pm. Other things suffered as a result but I just had to keep a roof over my head! I didn't keep a track of it but just paid every month. I've now taken my head out of the sand and am trying to find figure out how to get my self back up straight. I got a statement from Idem after I requested it and have just found out a) I had a £9000 PPI policy added to the loan when I first took it out and b) when Idem took over, they lumped £26k of interest from the previously frozen interest!! Twenty Six Thousand Pound! How much??!! Help!! I'd got the balance on my loan down to £37,000 before Idem took over (based on their statement) and added the £26k. In total I know owe them £63,000 after 6 years of paying £660 per month (excluding the peirod of the arrears). My first thought is to contact a mortgage solicitor to see if the whole thing has been missold, do something somehow to get the £26k interest taken off and then (or all at the same time) contact a company for a PPI reclaim. Has anyone had any experience in proving a mortgage was mis-sold, getting the interest back, reclaiming the PPI or any other advice in how to deal with these people? I just don't know where to turn!

Hi, First time posting and hoping for a little advice. Just had a letter land on my door mat from Credit Solutions Ltd with regard an £80,000 secured debt with Barclaycard Secured Loans. No other details apart from the usual "give us a call, we are really nice and helpful". the property that this loan was secured against was repossessed over 5 years ago ( I won't go into details as it was the same story for a lot of us back then). I have sent off the prove it letter and am awaiting a reply. I cannot actually remember the amount that was outstanding and think that the sum quoted is really high? I have no paperwork relating to the loan and even though I had contacted them years ago about being made redundant and unable to afford payments on both the main mortgage and their loan, I heard nothing back until last week through this DCA? I am not sure what I can actually do about this but one thing they cannot do is kick me out of that house! I have no fear of the DCA's and cannot be intimidated with silly threats. What I would like to know is what my next step should be? As I say the loan is no longer secured, I have no possessions as such, not much money left at the end of the month etc and was wandering what they can actually do to me? Thanks in advance for any advice you may have. Cheers

Hi everybody, I just joined today and this is my first post: Can my father still claim the PPI back on that loan - it was £2,700 and added to the loan from outset; so total loan amount was £29,700. I have seen some claims companies that go back 15 years. Also he had a £5,000 personal loan with midland/hsbc in the early nineties with £970 PPI added - despite the fact he banked with midland bank for 30+years as a self employed person. Any help much appreciated.

Hi, I am new to this forum and wondering whether anyone can help. We have a Secured Loan which is subject to a possession order which we are now in a position to repay in full. What do I need to get the bank to sign or acknowledge to say that they accept the payment as full and final settlement of this Judgment Order? Is there a particular form I should use. I don't want to pay them anything unless they acknowledge that this will settle the matter in full. Does anyone know of a proforma I can use. Thanks, Mags

Hi, Im not sure this is in the correct category - please be kind i've not written on here before. In July 2007 my husnad and I took out a secured loan on our home - which we couldn't afford but needed and there wasn't enough equity in our house so now in hindsight we dont think this was responsible lending. We have asked for a settlement quote and on an origonal loan of £29,000 after paying £24,000 already we still owe according to the company £23419.... scandalous. We have written to the company and complained about this and they have as a good will gesture told us they will waiver our accrued interest charge and admin fee if we did decide to settle. They also stated because our origonal lenders went bankrupt and they bought the loan (prope for 10p in the £) they cannot comment on wether it was a responsible loan or not. Is it worth taking this further or shall we just cut our loses (get an unsecured loan - our credit is now good) any advice on this would be gratefully recieved. Thank you