Wrong interest rate, but solicitor won't claim.

[socleirigh]

Hi,

 

Before I came across this site I signed up with a Claims Management Company for four loans.

 

One of them was passed to Moon Beever Solicitors and I signed a Conditional Fee Arrangement with them for a Northern Rock loan they said is unenforceable due to an inadequate interest rate clause.

 

However, Moon Beever have now written to say that a technical point has been raised in defence of similar cases, which provides the Court with discretion as to whether to enforce or not, and Counsel advises that the court is unlikely to exercise discretion in my favour, and thus the ATE has been withdrawn and they cannot therefore issue proceedings.

 

I've read on CAG that we shouldn't claim anyway, but rather let creditor make a claim and then defend, as defending is easier.

 

I have attached a copy of the agreement below.

 

Should I now negotiate with Northern Rock a reduced payment (outstanding balance is over £16k and total unsecured debt is around £70k), or should I wait to see if they ever claim and try to get a better deal at that stage?

 

Regards

socleirigh

Northern Rock CCA.pdf

[Guest Old_andrew2018]

Bump

[davey77]

bumping ...

[socleirigh]

Moon Beever solicitors have advised that they have sent the file back to the Claims Management Company (Clear Your Finance) to check whether there may other grounds on which to claim.

 

I have been trying to contact Clear Yopur Finance daily but always get a "user busy" message. I have even phoned at 11.00pm and still get the same message. I am starting to think that they no longer exist and I have lost £900 having three agreements audited by them last year.

 

I still haven't heard from Northern Rock since the solicitor withdrew the claim, but expect that I will hear from them soon.

 

Regards

socleirigh

[davey77]

The website for clear your finance doesn't seem to be working (if we are talking about the same one).

 

Perhaps contact trading standards and ask them to confirm the company's current status?

[socleirigh]

Hi davey77

 

the website was working as recently as last week, as I had to check I was dialling the correct number, but you-re right its not working now, which adds more weight to my thoughts that they no longer exist.

 

I will contact trading standards as you suggest to see if they are still trading. Thanks for this idea.

 

Regards

socleirigh