central trust and PPI claim through a CMC, now they want +40% for doing very little

[lillian6033]

hi

 

just won 2 cases of ppi against central trust

 

I took out the loans for a total of £22k in 2007 secured on my home.

 

all was going well until I lost my job in 2009.

 

for the next 12 months I struggled to make my repayments to them and fell into arrears

 

eventually giving up and decided to sell the house.

 

with the housing market at rock bottom in dec 2010 I sold it to a property company for two thirds its value.

 

when I came to settle the loans with central trust I had to pay them just short of £30k

which they said was for charges of being in arrears letters and phone calls.

 

I had paid the repayments for 2 years no problem but for 12 months was in arrears

 

I couldn't argue with them over the charges because I needed the deeds for the sale of the house on the £22k I borrowed

 

I paid 370.00 per month for 2 years and what ever I could in arrears

 

sorry for being long winded but could enyone let me know if I could claim back some of these charges

[Andybars]

Under the PPI redress guidance,

 

any charges you paid as result of the PPI should be repaid under the redress offer.

 

The key issue however is proving that the charges occurred as a result of the PPI

 

- is the offer that you have received from Central Trust or is it a case with the Financial Ombudsman.

 

Do you have any figures yet or is it just an uphold n principle decision.

 

Also have you signed any kind of acceptance form ?

[dx100uk]

the charges were obv a PENALTY [latter/late/over/missed/debt collection/debt advise/debt visit]

 

they can ALL be reclaimed at their int rate too.

 

the PENALTY charges & PPI should be two separate claims.

 

dx

[dx100uk]

what do you mean by 'just won' too please?

 

dx

[Andybars]

Apologies if my previous post was unclear - whilst DX is absolutely right that you can (and should) make a separate unlawful charges claim.

 

If any of these charges were resulting directly from the PPI it may be quicker to recover these through the PPI case "already won" - without further detail as to "the win" it s tricky to be more specific.

Edited September 25, 2013 by Andybars
grammar

[lillian6033]

Under the PPI redress guidance,

 

any charges you paid as result of the PPI should be repaid under the redress offer.

 

The key issue however is proving that the charges occurred as a result of the PPI

 

- is the offer that you have received from Central Trust or is it a case with the Financial Ombudsman.

 

Do you have any figures yet or is it just an uphold n principle decision.

 

Also have you signed any kind of acceptance form ?

 

my claim was was first dealt with by the ombudsmans adujicator who upheld my claim

 

but central trust appealed against his decision

 

it went to the ombudsman for a final and binding decision which

 

he also upheld my claim

 

I have no figures yet and the only thing I have signed is the form accepting the ombudsmans decision

[lillian6033]

what do you mean by 'just won' too please?

 

dx

sorry should have explained

 

I took out two loans one for 17k

and one for 5k

 

both with ppi and

 

ombudsman has upheld both claims

 

.total 22k over the 3 years and 6 months I had the loans

 

I must have paid back 10k

 

but when I settled the loan central trust wanted just short of 30k before they would release my deeds

[Andybars]

Hopefully the fact that it has got as far as an Ombudsman will help if there are issues with the calculations.

 

Once Central Trust provide you with their offer

the most important thing is to ask for their full calculations so that you can see what is and isn't included and whether these follow the FOS guidance

- once you have this info the people on the site should be able to provide more help

[lillian6033]

had offer back today on the smaller loan of 5k.

 

ppi payments made 758.39

plus 8% interest 264.83

less income tax of52.97

total 970.25.

 

second amount

 

ppi settlement cost 1243.05

less rebate when loan was settled 507.42

plus 8% interest 166.56

less income tax 33.31

sub total 868.88 .

total net redress 1839.13

 

can anyone help with the figures should I accept

or should I still try and claim charges they made when I was in arrears

 

im a bit of a layman when it comes to all this

 

so any advice would be appreciated

 

thanks

[dx100uk]

no.1. below will help you.

 

you'll need the org agreement

and a list of every payment you made

 

then use the spreadsheet at the end

 

dx

[lillian6033]

decided to accept their offer as Ive waited 2 years for it.

 

just had the letter off the claims company I regrettably used, that's another story.

 

they want the 20% I agreed to which I don't mind at all

 

but they have added 20% vat onto it.

 

there was no mention of this when I was visited by their agent just the 20% on any refund I received.

 

why do I have to pay vat ive already paid income tax on my refund. anyone help

[Andybars]

Hi,

all CMC fees are subject to VAT (unless this is a very small company under the threshold),

however this is something that should have been made very clear to you by the Company you used.

 

They should have made clear all fees and charges that you would pay (irrespective of whether this ultimately goes to them or the VAT man)

I would write to them and advise that you were advised by the agent that the fee was 20%

and you will pay this but you are unwilling to pay the 24% total figure they ask.

 

If they refuse, go through their formal complaints procedure and then to the Ministry of Justice if their answer is unfavourable.

 

Most CMC's use external companies to provide agents who often do not provide the full information that they should.

 

If there are other aspects of their work that you are unhappy with then mention these as well and look for a further reduction

- most CMC's are currently having massive cashflow problems due to the backlog at the Ombudsman

and they may be willing to negotiate with you for a hassle free reduced payment rather than a long drawn out dispute for the full amount.

 

As with all creditors if they agree to a reduced settlement ensure that you have in writing exactly what has been agreed before making payment.

[lillian6033]

this is the other story .

 

fair enough the claims company initially got the claim moving but after that was useless.

 

the loan company asked for certain details but the claims company did not get the imformation right so I ended up dealing with the loan company myself.

 

all they did was send me an automated letter every couple of month saying my claim was still being assessed due to the backlog.

ive had to deal with the ombudsman and the loan company myself many times to get things moving otherwise I think id still be waiting for my claim to be settled.

 

anyone thinking of using a claims company dont

[dx100uk]

god why didn't you tell us that at the start you were using a cmc.

 

its their job to work out what you should be getting back

 

and if its correct or not

 

that's what they fleece you blind for

 

dx

[Andybars]

As you are not happy with the service they have provided write and tell them.

 

 

If they are charging for a professional service you have a right to expect one.

 

 

You acknowledge that they have done some work - in which case make them an offer of what you think would be a reasonable fee

for what they have done.

 

 

Whilst it is unlikely they will agree the first offer at least it will give them the idea that you are unhappy

but willing to come to a reasonable compromise.

 

 

This will be valuable evidence if they do refuse to accept and reduced amount and it ends up in court.

 

 

Make sure you do everything in writing and explain why you are unhappy with their services