Cash Genie Court Papers

[barafear799]

Dear All

 

I have mentioned on a couple of other threads about my current situation.

 

I took out a loan with Cash Genie about a year ago - I was unable to pay back on the date due

- I contacted them and came to an arrangement whereby any future interest/charges were stopped based on my repaying an amount

(which was roughtly amt due plus an additional month's interest - ie: 2 months on the orig loan amt) over a period of about 4 months.

 

I made one or two payments before again struggling to even keep up with these repayments

- Cash Genie chased me via text and email for a while

- I responded by saying I was in financial difficulties - and would resume my payment plan when I could

 

- then about a month ago, I got a final default from their solicitors Carter Forbes - at which point I tried to negotiate with them to make payments

- but they pretty much ignored me - and then they served me with the papers.

 

I enclose an attachment of the claim - and I need to make a defence and would appreciate greatly any help please.

 

Ooops.....cannot upload attachment....will come back

Edited July 1, 2011 by barafear799
attachment

[barafear799]

hopefully the attachment is readable!! I tried to open it - and it was very small!

[Kitten1]

Unfortunately the attachment is unreadable.

 

Could you try photobucket?

 

Failing that, type out the particulars of claim.

[barafear799]

try again!!

[barafear799]

try again!!

here we go

[Kitten1]

Nope, sorry. Still can't read it x

[barafear799]

Ok - here's the "Particulars of Claim"The Claimant is a Loan Company offering short term loans. On 21 May 2010 the Claimant provided the defendant with a loan in the amount of #150 for the duration of 31 days repayable on 21 June 2010 under Consumer Credit Loan Agreement number 999999 (amended by me obviously). The contractural rate of interest was 30% per month. Despite the Claimant repeatedly chasing the defendant he failed to repay the laon and interest and costs have accrued.The claimant formally demanded repayment on 1 June 2011. the Claimant claims:1. Loan amount of #150.002. Interest Accrued of #450.003. Charges accrued of #120.004. Less paid of #100.135. costsThe Claimant claims interest under section 69 of the County Courts Act 1984 at the rate of 8% a year from 01/06/2011 to 21/06/2011 on #619.87 and also interest at the same rate up to the date of judgement or earlier payment at a daily rate of #0.14.Then in summary: Total Amt claimed is:Amount Claimed: 619.87Court Fee: 60.00Solicitor's Costs: 70.00Total Amount: 749.87Please advise.....many thanks

Edited July 1, 2011 by barafear799

[Kitten1]

Omg!!

 

You need to go onto mcol (I'm assuming that the claim has come through Northampton bulk?) and acknowledge reciept and state you will be defending.

 

So they lent you £150, have recieved £100 in payment already and are still claiming £750??? That's extortionate!! Have you got copies of all your correspondance with them?

[barafear799]

It does appear my messages on here are not formatting very nicely at all - but I am glad you could understand my previous message - you are correct in what you say - borrowed £150, have paid back £100, they still want £750As mentioned on other threads, and also backed up by other posters (who are in the same boat as me) I have tried to negotiate with them and their solicitors - and they are in no mood to negotiate.I have some correspondence with them - I certainly have everything I sent them - in terms of setting up payment plan etc. - because that was all done via email.However, I have lots of "auto generated letters" (that will be £12 thank you very much) which I received via the post.I do want to defend obviously - I just need help with that - I am even "happy" to part admit - and offer to pay a reasonable amount - a further £125 - but I am not happy about paying another £750.Many thanks - and please advise.

[stevo7790]

I thought that in instances like this, you would be expected to pay the amount borrowed plus a months interest and that was it?

[Kitten1]

I think CPUTR would come into play in this instance. Those figures claimed are grossly unfair IMHO.

 

I'm not the best person to write a defence by any means

[rosyb]

These people really are scumbags.

I think we need to see the agreement. If the contract is for a fixed period, then unless there is some term in the contract that says otherwise, they would only be able to apply contractual interest up until that date.

If there is such a term I would suggest that it would come under the UTCC and possibly section 140 of the CCA.

Also did you receive a default notice prior to enforcement?

Is it possible to see your agreement?

Rosy

[barafear799]

Ok - hopefully I will have better "formatting" experiences on here today:Ok - I'm going to copy n paste the relevant parts of the original agreement - the orig loan was taken out in March 2010 - I did make interest payments (ie: £45) in order to rollover on a couple of occasions - hence the bit that I did not pay was due on 21st June 2010 - as per the original post about their claim against me:KEY FINANCIAL INFORMATIONAmount of Credit: £150.00Duration of Agreement: 31 daysTotal Amount Repayable: £195.00 to be repaid in a single payment on 22/04/2010APR: 2,100%OTHER FINANCIAL INFORMATIONTotal Charge of Credit: 30 pence for every 100 pence borrowed, per part or full month that a balance remainsoutstanding.Interest is charged at the rate of 30% per month or part thereof [fixed], and applied to the balanceoutstanding each month on the date of this Agreement.KEY INFORMATIONIf you breach this Agreement, our charges are as follows:1. If you do not re-pay the loan on time you will have to pay the following charges:1/4• An administration charge of £15.00;• £12.00 per letter or e-mail correspondence with you requiring payment;• the APR will continue to be charged from the first day that your loan is outstanding until the loan isrepaid.2. If you move or change your contact details without telling us:• our reasonable costs and expenses incurred in tracing you and verifying your new address which will becharged at £45.00 per search but is not limited to a single search if we cannot locate you or verify yournew address.3. You must also pay us all reasonable costs and expenses incurred in taking steps to enforce thisagreement against you. If we discover that your loan application is or was fraudulent we may require that thetotal amount repayable is re-paid immediately.IMPORTANT - READ THIS SECTION CAREFULLY TO FIND OUTABOUT YOUR RIGHTSThe Consumer Credit act 1974 lays down certain requirements for your protection which should have beencomplied with when this agreement was made. If they were not, the lender cannot enforce this agreementwithout a court order.This Act also gives you a number of rights. You can settle this agreement at any time by giving notice inwriting and paying off the amount you owe under this agreement.If you would like more information about your rights under this act, contact your local Trading StandardsDepartment or a Citizens’ Advice Bureau.MISSING PAYMENTSMissing payments may have serious consequences and may make obtaining further credit difficult.If you become aware that you are unable to fulfil your obligations of repayment, please contact us at yourearliest opportunity to discuss this matter, where options may be available. Any offer made will not supersedethe terms of this agreement and will be made on a goodwill basis of which we reserve the right to enforce thefull terms and remove the goodwill offer at anytime.YOUR INFORMATIONWe are the data controller in respect of your personal information. We will process your personal informationin accordance with the Data Protection Act 1998. Please read clauses 12 and 13 of our terms and conditionsand our Privacy Policy for further details of how we will use your information before you sign this agreement.Upon making a decision to lend to you, it may be necessary to contact you by telephone. Calls may berecorded for training and fraud prevention. We may send you information about our products and otherswhich may be of interest to you. We may also pass your information to other businesses to allow them tosend details of their products to you. You have a right at any time to stop us from contacting you or giving2/4details to others for these purposes by writing to us.CANCELLATION RIGHTSYou have the right to cancel your agreement within 14 days of our acceptance of this agreement by writing tous at the above address. Please see clause 15 of our terms and conditions for further details of your right tocancel.You must inform us immediately if:• You change address• You change your name• You change employment or your pay date changes• You change email address• You change bank accounts• You change any debit card information we hold.Consent to Electronic Communications:By signing this loan agreement, you agree that subject to any applicable law or regulation, any notice, recordor other type of communication / information that is provided to you in connection with this loan agreementmay be sent electronically, namely by email to the address you have provided in your loan agreement or anyother email address that it becomes apparent you have access to.Debit AuthorityWe will attempt to debit repayments agreed to under this agreement on the Payment Date. It is yourresponsibility to ensure that the full payment is made on the Payment Date. If for any reason the funds arenot available on the Payment Date, you authorise Cash Genie UK Ltd to continue to attempt repayment of theloan from any debit / credit card that we hold on your account as frequently and as often as we reasonablychoose, in any denominations up until the total outstanding balance is recovered.We may transfer all our rights or any of our rights under this agreement.ComplaintsWe hope that you do not have a reason to complain about our service, Cash Genie UK Ltd has a complaintsprocedure and in the event that you have any concerns, or complaints, please write to Cash Genie UK Ltd,Dalton House, 60 Windsor Avenue, London. SW19 2RR in the first instance. If you remain unhappy with ourdecision, Cash Genie UK Ltd is a member of The BCCA (British Cheque Cashers Association) and adoptsfully its complaint procedure. Further details can be found on their website, http://www.bcca.co.uk or telephone01244 505904, email info@bcca.co.uk or write to Chief Executive, BCCA, PO BOX 3414, Chester, CH19BF.If you still remain unhappy, you may have the right to refer your complaint to the Financial OmbudsmanService, (FOS) Quay Plaza, 183 Marsh Wall, London, E14 9SR or telephone 0845 080 1800. You wouldneed to notify FOS within 6 months of our final decision letter.English LawThis agreement will be governed by the laws of England and all communication will be written in English. Thisagreement shall be construed according to the laws of England whose courts shall be the exclusive courts ofjurisdiction.Electronic SignatureElectronic Communications Act of 2000 provides that electronic signatures on documents hold equivalentlegal status as traditional handwritten signatures. By completing this online application, I certify that my digitalsignature is the equivalent of my handwritten signature.By signing this agreement, you agree that you understand fully its terms and conditions and also agree to itsterms and conditions which are set out above and the terms and conditions which we send to you with thisagreement. In the event that any section may be classed as unenforceable, all other sections will still beclassed as enforceable unless deemed to be unenforceable by a court in England & Wales.Electronically Signed: xxxxxxxElectronic Validation Code: xxxxxxxHopefully the above is readable in a more user-friendly manner this time.Thanks for taking to time to help me.

[rosyb]

OK need to do a bit of research. I will get back to you

 

Rosy

[rosyb]

oh is there any mention of their company registration number, and also their credit liscence ref.

Rosy

[barafear799]

Company Registration Number: 07005622 Credit Consumer Licence Number: 0630949

[broken arrow]

Subbing, will send for help.

[sillygirl1]

Simple defence would be

 

Dispute particulars of claim - they can't claim interest on interest so the 8% should only run IF judgement is entered against you

They are claiming £750 is still owed, this cannot be as you have already repaid £100

They have not stated at what rate they are charging interest - this is typical from them...

 

so defence should start

 

I xxx borrowed XXX from XXX company and am disputing their claim that XXX is now owing...

 

Then go on to list the repayments you have made and any correspondence up to the point of getting the claim form

 

Then go on to state that Section 86-87 of the CCA Act applies to PDLs as the Whole amount becomes due, therefore they cannot claim additional interest on the amount, nor claim statutory interest from date of issue of claim

 

The claim is vexatious and litigatious as you only owe them XXX (the original loan amount plus ONE months interest, NOT TWO) and XXX has already been repaid to them

 

This should go for a mediation hearing rather than go straight for judgement.

 

I can get a basic draft defence drawn up tomorrow for you - this is a rough idea of how it goes, usually only runs to two pages.

 

You don't need to do anything other than get your documentation in order and label it a, b, c, d, e etc and that can be cross referred to in the defence.

 

Hopefully they will back off once the defence has been filed. You are doing a PARTIAL defence here, defending only the original loan amount plus ONE months interest which was due before you negotiated the additional month (silly thing to do but you should have stayed off the phone and emailed them).

[sillygirl1]

The reason behind the original loan and one months interest is due to Section 87 of the CCA Act. the whole amount of the loan automatically becomes due on the expiration of the original term. Unfair terms and conditions come into play as well.

 

Since the Rule of 76 abolished the norm is for 3 months interest if you want to pay a commercial loan back early, therefore the 1 month was decided for non-secured short term loans. It's been argued at mediation hearings successfully and gives a guideline for 'proper' negotiation, not the bullying "every time I phone you it is going to cost..." talk you get from these companies.

[rosyb]

Wow i feel redundant, great stuff

You are, i think in excellant hands

Rosy

[rosyb]

Oh except the bit about the interest section 69 interest is chargeable on the ful liablities of the agrement until judgment. no stat interst after judgenet on a consumer credit account under 5000 or over come to that

 

Rosy

[rosyb]

oh and it isr rule of 78 superseeded by the early settlemt regulations. NIether of which applicable here.

[rosyb]

The issue here is the continuance of the contractual interest post the term of the loan, and yes the compounding of that interest.

They are entitled by the county court act to charge %8 interest to the sums due on the contract until the judgment.

I have been looking around this site for some other source of reliable information for you, it is very scarce i am afraid. However there is someone called Sequency who is i think also a professional contributor and who seems to have a good understanding of interest on actions scenario, i would suggest you look at his threads and bloggs if you need more reliable information.

Oh the registration and licence details check out.

I will get back to you

Rosy

[Delboy01]

Send off your AOS for an extra 2 weeks.

[cooldude1980]

Cash Genie took me to court. And in the end they ended up with 1 month interest plus the original amount. Thats it. Do not offer to pay Cash Genie anymore. Cash Genie are really horrible and they will try their best to get more money out of you illegally.Cash Genie are even known to use other websites to get your card details and then they empty your account.Cash Genie use Carter Forbes - are these companies linked? Seems like they live and work together?