Hi Folks! In December 2011, GE took us to court as we fell behind with our secured loan with them. The judge ruled in our favour and suspended the order and we all agreed on a given repayment plan of £156 per month. I stuck at that for 9 months, with every month calling GE and paying the amount over the phone, October 2012 when starting a new contract job in London that involved long commuting and even working some Saturdays. I work in IT btw. I know it is not an excuse but the commute overwhelmed me in every sense, and I started to get ill too. I forgot to stick to my repayment. In December, I left that job after it was agreed that it would be better for my health (with the contracted party). I started a new job in January full time closer to home but the employer didn't manage to secure a big client so my wages was a stumbling block for them, so they gave me one week's notice and I lost the job within three weeks of starting. This is purely because they employed me in anticipation of securing a big contract. in Februray, 2013 I had a minor stroke, and was in hospital overnight. I recovered and found another local permanent job. In February, I made a lump sum payment of £500. Up until last week, no communications from GE. Last week thursday,they notified me that they have sought a warrant for possession of the property. On monday, I called GE, and I offered a lump sum payment of £2000 (Aussie tax refund which I got only few days ago ) and I said with the help of my new job, I can increase my monthly to £500 to help clear any backlog. The guy at the other end of the phone didn't even hear my offer and said he declined it! In the end he said come back and when you have a better offer. I came here for help on this forum and with the help of this forum and my sister who was a lawyer but now a mum for two little boys, I submitted on thursday a n244. I made the same offer in my appeal to set aside the judgement. However, I also called GE automated service and paid £2000 for which I should have it appearing on my statement tomorrow (Friday 19th). My hearing is on Monday at 10, while the eviction is set for 23 April at 12.30pm I can demonstrate that I can afford the new repayment but I am so worried. I messed up but I want to rectify but I am not being given the chance. GE want the whole money owed to them which £15k. They say that the £15k is the arrears but that is the full balance . I am confused with this? missed payments at £156 from October till February. I paid them £500 in February as soon as I could. Please help me get myself togeher again. I am still going to hospital appointments for various tests a the doctors trying to find out what caused my mini stroke. They did say that bad news can do this too. In the meantime, I have kept all from my wife as I don't want her to feel the pressure. At the last hearing, she was so scared of losing the home and because of me this might happen again. Please help. I need to go on Monday with some clear ideas, which I am hoping good folks can help me get. Thanks you for reading and helping PS: GE have added a large number of charges that I know some are unfair and they also charged me PPI, which is clearly marked on my contract! I will seek these back, soon as I have done with them. Please help. Thanks Another point: My telephone offer was for £2000 lump sum, and increase of monthly obligations from £156 to £500 and set up Direct Debit. The last point of direct debit was left out in the N244 which was done in a panicky state as I originally thought the eviction was for monday and wanted to hand in the n244 by end of wednesday! I have also made a hasty mistake too: My statement for n244 says offer of £2000 lump sum but have paid this by phone. Oh dear, what to do next? I know I need to stay calm, as my blood pressure was 152 in my last test at the hospital last week! I haven't slept since last week and hardly eaten but put on a brave face for my 14 year daughter and my wife. They hardly know anything. But it is getting me donw.

My first post and I going to let it all out. Please read. Not sure if there is a lesson to be learnt but I need guidance. In 2004 I took a mortgage with Northern Rock via an independent broker who I was working for as an employee. 3 months later I got into a dispute with my employer (I asked for payslips) who then decided that 100% of my previous years income was in fact all loans and that I was never employed. No one got pay slips and his family were all accountants. My employer stopped paying me and remarked my mortgage was fraudulent and that I would go to prison. Apparently I purposely took out a £1800 a month mortgage without any income. I then had solicitors appointed against me by him. He did this to other employees. 5 months after obtaining my mortgage I was unable to make any payments. I informed Northern Rock why, and told them why payments had ceased and that I was panic stricken that my mortgage could be fraudulent. They did nothing. So I went to the FSA. They visited my house and I showed them the evidence of my mortgage and the subsequent evidence that all my income was loans. The FSA said there is nothing they can do. I went to the Police who sent someone to meet me from their fraud division. Eventually the Police replied in a letter and said only my lender could make the complaint as they were the 'victim'. I sent the letter to Northern Rock and asked them to do it. They refused. This whole process I just mentioned took almost 1 year. My a+ credit rating was decimated. I was on medication for stress and anxiety plus having counselling. My health literally collapsed. My partner left me. I just did not know what to do and I curled up into a ball. My ex boss even had his solicitors write to me saying if I took another job it would be 'breach of contract'. I ended up on Incapacity Benefit (never been on benefits before) therefore my lender received interest payments from housing benefit. Because my lender did nothing and my mortgage circumstances were unresolved I deteriorated. I did not know what to do so I gave everything away and fled. I was homeless and looking back, mentally ill. This was early 2007. In late 2007 I went back to my house. It had been empty and was full of leaves but other than that nothing - it was like I never left. No locks changed; nothing. So I moved back in. Having no referencable background to get a job with I decided to start a business. It did well and eventually I began to make all-I-could-afford-payments each month to Northern Rock. Within 18 months I was making full 1800pm payments. Then the recession bit and I could not sustain the full payments. It didn't take long for me to end up back on meds again. Of course Northern Rock still did nothing about how my mortgage was obtained or the arrears. It was like they just ignored it. So after fighting the good fight I decided in October 2011 to hand the keys back. I had just become a father and decided I needed a conclusion to this. The arrears were over £100k so the house was in negative equity which was why I could not sell it privately. The house was sold I and ended up owing a shortfall of 126k. I have not acknowledged this debt or paid anything towards it. I feel Northern Rock (now NRAM) had a responsibility to me and to report a crime, they always choose not to. I campaigned for years for them to do so - even when I was making payments each month. I really suffered through all this - credit rating is still wrecked, I get chronic anxiety even now and I am still trapped by it all. I refuse to go bankrupt. Why should I? I did nothing wrong and did everything that could be reasonably expected of me to report it. Anyway, thank you for reading all this. My question is can I get this debt written off? My mortgage was for £315k, the house sold for £325k, the 126k that is outstanding is all interest. If anyone can help I would be grateful and can return the favour - today I am a self employed web designer and marketer. Btw, HMRC investigated both myself and my employer. My employer wound up his company so HMRC said it was not in the tax payers interest to pursue him. No company to pursue so no tribunal procedure either.

Just wondering with the FSA being closed down and restarted as the FCA. How will this affect the way we use BCOBS when dealing with the banks?

My situation: Defaulted on considerable debts last year built up to pay for disabled child's care after restructuring at work and an unexpected tax bill. Tax bill being paid in installments until end of next year, takes up all disposable income leaving I got quite depressed and couldn't handle it, but started trying last year and started making token payments to a number of people (once the tax bill is paid it will take ~4.5 years to pay off sizeable creditors). I also told everyone to please not apply for CCJs as a) I have no assets and b) I am an FSA registered person and it could cause me to lose my job For my MBNA card (sold to Varde investments/experto, ~25% of outstanding) I emailed them saying I owed the debt, wanted to pay and put forward payment plan (£1 a month until tax paid, then over 4.5 years balance) in August, also giving details of my new address which I moved to in May. They did not reply, but I got a letter from HL solictors threatening legal action in October (sent to my old address, on the final day of mail forwarding), so I mailed in a copy of my income/expenditure and a letter outlining my situation and offer. They acknowledged receipt of this mail at the end of October, but said they had not received the income/expenditure form and asked for it to be resent. They also acknowledged that they had updated my new address in their systems. I did not send in the income/expenditure/bank statements again as I got caught up in more corporate restructuring (financial sector these days ) Didn't hear anything back from them or about them until my compliance officer came to me a few months ago and asked about a CCJ on my file (!) This was lodged against my old address. I called them and asked for their help setting it aside, explaining the above and saying I'd be happy to do a Tomlin order as I could a) lose my job over this if not removed and b) not be able to move jobs, where I'd been offered two significantly higher paying jobs or get another job (and so probably have to go bankrupt - I am great at my career and rising fast in reputation) They asked for my income/expenditure and said I'd need to sign the tomlin order before it was set aside, as well as pay for the Tomlin order and set aside, so I emailed them in this time, I waited for a bit and then.. They called and said they'd refuse to set aside the CCJ as I had not been co-operative and it was not their fault I may lose my job They also said I did not have enough disposable income, despite me repeatedly stating that all of the disposable income I had was going to the tax man until the end of next year, for them to a Tomlin order. On the other side they said they would accept my payment offer subject to review every 6 months (£1 a month then 4.5 year payment), which confused me terribly, and said they'd send over bank details and they would push for enforcement if I didn't make the £1 payments. I was told by some that a set aside on account of wrong address is up to the judge's discretion, but when I called the national debt line they said as I didn't contest the amount it may not be agreed and I'd have to pay their legal fees? (something I can't do on my Advice of exactly what to do here would be exceptionally appreciated, I have just about pulled myself out of depression and am working hard, but this has put me on edge Sorry for the long post!

How do I access the FSA handbook online? I am particularly interested in the sections relating to self-employment which I believe are pages 138-149. This is in relation to my PPI complaint which has been rejected by FOS. OK found the sticky with instructions suvin

My partner took out a secured loan with PPI seven years ago. He has always been self employed and the PPI does not cover self employed people. The loan is with GE Money but apparently was sold by Capital One Home Owner Loans Ltd. GE have advised that Capital One Home Owner Loans Ltd are no longer trading and we need to contact the administrators?! My partner has to continue paying the PPI plus interest as it was added to his loan as an upfront fee. I know I am able to forward a claim for mis sold PPI through FSCS but they have advised they require Capital One Home Owner Loans Ltd address and FSA number. Has anybody got this information as my partner was never sent any policy details?

Quick Question: Does it state anywhere in the new FSA Guidelines that in order to consider a Full and final Settlement figure, that a DCA needs to see a completed Income and Expenditure Form, in order that they can assess whether we can afford the sum proposed. Cheers in Advance

Just found this whilst browsing the web Mortgages - Legal Mortgage Deed Related information Challenging unfair terms in financial contracts Reporting unfair contract terms Changes made to contract terms See how to protect your finances Related links Consumer Direct Complaints about personal loans, hire purchase, credit cards and other credit products Financial Ombudsman Service The independent service for resolving disputes between consumers and financial firms London Scottish Mortgages We reviewed two terms in this contract. Term 1 What did we think was unfair? A term appeared to give the firm extensive freedom to impose charges on customers. It also said that customers would pay the cost of any enforcement proceedings. Why did we think it was unfair? The term appeared to allow unreasonable freedom to impose charges. It also appeared to make customers pay for enforcement proceedings even if they began because of the firm’s negligence, or the firm lost those proceedings. What has the firm done? The firm agreed to make the term more reasonable and reduce its freedom to impose charges on customers. Also, the firm will not pass on the costs of enforcement proceedings unless they are rightfully started. Old term 'You must pay on a full and unqualified indemnity basis all fees, expenses, taxes, liabilities and legal and other costs... in: (a) the preparation, completion, registration, administration, protection and enforcement (including the costs of any proceedings) of this mortgage…' New term 'You must pay on a full and unqualified indemnity basis all fees, expenses, taxes, liabilities and legal and other costs …reasonably incurred by the Lender in: (a) the preparation, completion, registration, administration, protection and rightful enforcement (including the costs of any proceedings) of this Mortgage…' Term 2 What did we think was unfair? In the mortgage terms and conditions there was a term stating that early repayment charges may be payable. There was no such term in the Legal Mortgage Deed. Why did we think it was unfair? Customers reading the Legal Mortgage Deed might think early repayment charges do not apply. What has the firm done? The Legal Mortgage Deed now includes a cross-referencing clause so customers know that terms covering early repayment charges are in the mortgage terms and conditions. New term 'Should you wish to pay the Secured Amounts early, the Lender has the right to make an early settlement charge. The charges that will apply are set out in the Offer and the terms that will apply in relation to early settlement are set out in clause 6 of the Loan Terms and Conditions.'

Hi All, This from the BBC today http://www.bbc.co.uk/news/business-20338335 G

The Financial Services Authority, is investigating claims by a whistleblower that Britain's £300bn wholesale gas market has been "regularly" manipulated by some of the big power companies, exploiting weaknesses that echo the recent Libor scandal. Separately, the energy regulator Ofgem has been warned by a company responsible for setting so-called benchmark prices, ICIS Heren, that it had seen evidence of suspect trading on 28 September, a key date as it marks the end of the gas financial year and can have an important influence on future prices. http://www.guardian.co.uk/business/2012/nov/12/libor-like-manipulation-gas-markets

The US Government have announced a $1b lawsuit against Bank of America for toxic loans. There have been 8 others this year. Published fines from the FSA show the growing figures following market abuse in the UK. Here is their list from last 10 years. Total amount of fines in 2002 - £7,444,000. Total amount of fines in 2003 - £10,975,000. Total amount of fines in 2004 - £24,769,000. Total amount of fines in 2005 - £16,965,860. Total amount of fines in 2006 - £13,309,143. Total amount of fines in 2007 - £5,341,500. Total amount of fines in 2008 - £22,706,526. Total amount of fines in 2009 - £35,005,522. Total amount of fines in 2010 - £89,121,281.50 Total amount of fines in 2011 - £66,144,839. In 2011 fines were levied against a number of UK Banks and Investment companies,here is a list of some of the biggest fines; 11/01/11 £2,800,000 Royal Bank of Scotland and National Westminister Bank For multiple failings in the way they handled customers' complaints 18/01/11 £7,700,000 Barclays Bank plc For failures in relation to the sale of two funds 26/01/11 £1,127,559 Barclays Capital Securities For failing to protect and segregate on an intra-day basis client money held in sterling market deposits. 18/04/11 £1,400,000 Norwich and Peterborough Building Society For failing to give its customers suitable advice in relation to the sale of Keydata products. 25/05/11 £3,500,000 Bank of Scotland For the mishandling of complaints about retail investment products 21/07/11 £6,895,000 Willis Limited For failings in its anti-bribery and corruption systems and controls. These failings created an unacceptable risk that payments made by Willis Limited to overseas third parties could be used for corrupt purposes. 25/07/11 £630,000 Swift 1st Limited For unfairly treating some customers facing mortgage arrears. 14/09/11 £494,900 Towry Investment Management Limited For compliance failings in respect of management and protection of client money and Towry’s communications with the FSA. 20/09/11 £2,000,000 Michiel Wieger Visser For market abuse 17/10/11 £4,000,000 Rameshkumar Satyanarayan Goenka Financial penalty of US$ 6,517,600 (approx £4 million) plus restitution of US$ 3,103,640 (approx £1.9 million) for engaging in market abuse. 25/10/11 £5,950,000 Credit Suisse (UK) Limited For systems and controls failings in relation to sales by its private bank of structured capital at risk products (SCARPs). 07/11/11 £6,300,000 Coutts & Company For failure to comply with Principle 9 in connection with its sale of the AIG Life Premier Access Bond and Premier Bond, Enhanced Variable Rate Fund. 02/12/11 £10,500,000 HSBC Bank Plc For failings in suitability of investment advice provided by NHFA Limited 05/12/11 £3,500,000 Integrated Financial Arrangements Plc For compliance failings in relation to the FSA’s Client Money rules. 19/12/11 £2,800,000 Combined Insurance Company of America For breaches of Principle 3 and 6 that put customers at risk of receiving unsuitable advice.

Its fund managers carried out two huge derivatives deals in 2008 and 2009, to stop the fund becoming insolvent if share prices fell further. But the vitally important deals were carried out without the explicit approval of senior directors. The FSA said the firm's supervision had been "unclear and inadequate". The regulator did not dispute the merit of the two deals, which affected the investments of 114,000 life insurance and pension policies. http://www.bbc.co.uk/news/business-19994565

hi new to forum so just a quick post just had a decision back relating to bank charges the fsa has agreed with hsbc that there have been treating me fairly. i have had a overdraft facilty of £2000 but the reason this is so high is because we kept having to extend it i get paid every week but want is happening is there keep taking charges rangeing from £25.00 pounds to 150.00 pounds so far we have paid over 5000 pounds in charges in the last 5 years is this far please help:mad2:

No suprises there then. http://www.fsa.gov.uk/about/media/facts/fines/top

I have had an additions catalogue for years and years, last year due to my partner being made redundant I could no longer make the required repayments. I kept up the repayments for a couple of months (hoping that a new job would be found) but then contacted all my creditors and advised them of the situation. They were all pretty understanding and I asked for help from one of the debt management companies, unfortunately due to their huge workload it was going to be several months before I could get an appointment - I again told all my creditors of this, gave them my reference number and told them of the date of my appointment. Additions I have to say were the least pushy of all my creditors, very few letters, no phone calls etc. Meeting took place and after a few weeks, and only when I enquired, was told it would be at 6- 8 weeks before they would even look at my secondary debts, I contacted one of these companies and they advised they had not been written to by the debt management company. So I decided to deal with it myself. I contacted all my secondary debtors (x3 credit card and 2 x catalogues) Put together a top level financial statement (using the initial "gumf" of what a court would class as reasonable each month and to ensure all were treated equally figured out what money I had left to split between them all - this equated to an offer of payment of 0.5 %. All credit cards and the one other catalogue accepted the payment by me over the phone and agreed no charges or interest. On the 19th January when i rang Very / Shop Direct they said they would require an offer of payment and full financial statement in writing and this would be required by 3rd February (giving my 2 weeks and one day). I wrote the statement and letter and posted my next day delivery to ensure it got there for the 3rd, but today received a letter from Lowell's saying the debt had been sold to them on the 27th January. Wanting to know why Very had sold the debt BEFORE the date they told me. I rang up asking if they had received the letter of offer of payment, they said they had but not until the 6th February. I know they would have received it on the 3rd as I sent because I sent by next day delivery and have the proof of this. I was told they receive thousands of letters each day (as far as I am concerned this isn't actually my problem - they should allow for that and not me). When I asked when it was sold I was told the 28th January (so only one week after I phoned them and different to the date both they and Lowells have put in writing). When I asked why it had been sold in January when I was told I had to get the financial statement and letter in by the 3rd - prior to the date I had told it would be sold, I was told "Perhaps they got fed up of the non payment". I put the phone down in disgust at this point. I know it wont make any difference to me now... the debt is with Lowell's but I am absolutely fuming that they did not even give me the opportunity to get a financial statement and offer of payment to them and don't think they should be able to get away with blatantly lying to their customer. My question is: Is this a matter that I can complain about to the FSA for unfair treatment - I know I will have to make a formal complaint to Very about first - but there wont be any point in that unless I can take it further. Thanks for reading.

After dealing with the FSA and the FSO I have come to the conclusion that they haven't got a clue what they are on about? As a consumer before making a complaint I read every rule and regulation and every handbook there was available to try and make some sense out of the whole system of regulation and to try to work out where I stood. I was left confused as some are rules that FSA members are supposed to adhere to but others are merely guidelines and lenders can please themselves. Isn't it about time that there were strict rules laid down for lenders, forget the guidelines they are a waste of time. So that the ombudsman and the customers know where they stand from the outset. Surely this is more logical approach. Well here's hoping for the future.