Acenden secured loan has reached its end of term but they're now demanding payment

[Losingitall]

I took out a secured loan for 20K with London mortgage company seven years back.

 

It has now reached the end of its term and despite having arrears (completely made up of charges) of circa 3K Acenden are now demanding circa 13K to pay off the debt with the settlement letter stating that if the payment is not made by the end of this month then they could consider legal action including repossession.

 

Any help or advice on this is gratefully received.

 

Thank you.

Edited May 16, 2014 by Losingitall

[renegadeimp]

Just a threat letter. Notice how they state "may consider". Thats like me saying i 'may consider' fish and chips for tea tonight, or maybe i will 'consider' spaghetti bolognaise.

 

If you are sure the amount is solely charges, check your statements, or SAR the company and get reclaiming.

[dx100uk]

got all the statements?

 

if there are PENALTY charges

 

then get reclaiming

 

what compulsory insurance did they dump on you too.

 

dx

[Losingitall]

Will take your advice and ask for the SAR. I'm mystified as to how I've paid them over thirty grand over the length of the agreement, but still apparently owe them 13. I, perhaps naively, thought I'd just owe the arrears but even they seem excessive. The agreement ends next week and they've sent me the letter asking for the 13 grand, it wasn't an interest only loan or anything so how they can calculate that I owe them 13 is a mystery to me. Thanks for taking the time to answer, really appreciated.

 

 

Just a threat letter. Notice how they state "may consider". Thats like me saying i 'may consider' fish and chips for tea tonight, or maybe i will 'consider' spaghetti bolognaise.

 

If you are sure the amount is solely charges, check your statements, or SAR the company and get reclaiming.

[Losingitall]

Hi, thanks for the reply, really appreciated. How do I go about reclaiming their charges, is there any historical evidence that they do re look at their charges over the length of the agreement and amend them? Also how likely is it that a court would give a repossession order over such a relatively small sum, a small sum that I just don't have obviously.

[renegadeimp]

Woah there. Stop thinking of reposession as if it will happen. All you have recieved is a generic threat letter saying they MIGHT consider it. If the amount they claim you owe is comprised of charges/unlawful fee's, then it is very unlikely to ever happen. If you reclaim, you could find out that they owe YOU money.

[Losingitall]

Thanks for the reply, once I get the SAR back how would you suggest I tackle them with their over charges/excessive fees, just negotiate or is there an industry standard they should be abiding by?

 

 

Woah there. Stop thinking of reposession as if it will happen. All you have recieved is a generic threat letter saying they MIGHT consider it. If the amount they claim you owe is comprised of charges/unlawful fee's, then it is very unlikely to ever happen. If you reclaim, you could find out that they owe YOU money.

[renegadeimp]

When you get the SAR, check it thoroughly and make sure everything is there. Then go through it very carefully and make a list of all the unlawful charges and insurances they have charged. We can then link you to a spreadsheet to work out exactly ( if anything) what they owe you.

 

remember, backstreet companies like this love to add on charges and insurances, then threaten you with everything, hoping youll pay up and admit it before you realise you can reclaim and leave them out of pocket.

[Losingitall]

Thanks for this, have there been any really successful claims versus Acenden/Capstone on these forums that you could link me to?

 

 

When you get the SAR, check it thoroughly and make sure everything is there. Then go through it very carefully and make a list of all the unlawful charges and insurances they have charged. We can then link you to a spreadsheet to work out exactly ( if anything) what they owe you.

 

remember, backstreet companies like this love to add on charges and insurances, then threaten you with everything, hoping youll pay up and admit it before you realise you can reclaim and leave them out of pocket.

[renegadeimp]

Im not too sure. Use the search box and search for multiple terms. Be aware that a lot of people simply dont come back to this site if they win or lose. it's best to take the info from all related threads and work out a defence/plan of attack to your own situation.

[Losingitall]

The acenden action group had a section entitled winning in court,

 

it was an excellent template/guide on how to proceed and defend in court versus Acenden.

 

 

The link and 'page' was live last week but has now been taken down as the overall site and account was suspended.

 

Did anyone make a copy or have a copy of that page/link that they could post up?

 

 

It was an incredibly detailed doc that I should have copied last week when I first came across it

[renegadeimp]

The acenden action group had a section entitled winning in court,

 

it was an excellent template/guide on how to proceed and defend in court versus Acenden.

 

 

The link and 'page' was live last week but has now been taken down as the overall site and account was suspended.

 

Did anyone make a copy or have a copy of that page/link that they could post up?

 

 

It was an incredibly detailed doc that I should have copied last week when I first came across it

 

Use googles cache. If it was popular enough, then googles robots would have crawled it and cached it.

[havinastella]

Do you have a copy of your agreement?

[Losingitall]

I'm not sure, I actually don't think I have.

 

Do you have a copy of your agreement?