British Credit Trust - Charging Order on Home

[OLIVE.FAMILY]

Hi there all.

 

Can I get somebody to check this letter for me. I am useless at theses things.

 

Thankyou

 

Dear BCT.

 

I am writing to you with regards to the above account. Recently you wrote to inform me of the outstanding balance on our loan which is due to British Credit Trust. As you are aware we replied requesting a copy of our credit agreement to which you provided. Along with this agreement you also provided copies of statements. Before We can continue with making any arrangements they are a few points that we would like your company to clarify,

Firstly on the statement which you enclosed there is a total (without interest) of £364.80 of letter charges which is shown on the table below. Also there is a single charge of £448.45 added on the 29/01/2009 which is LPS Accrual to date. This brings the total charges to £813.25. I am requesting that these charges be deducted from the total loan unless you can justify the costing of sending a letter for £25 and then another for £75. If these costs cannot be justified then I will be making the assumption that these are indeed penalties and therefore unlawful.

 

 

Secondly on the credit agreement provided the reason for borrowing the money is untrue. In 2005 we actually had a covering on our wall from a company called Protectacoat. The company arranged the borrowing for us. On the provided credit agreement it is stated that we borrowed the money for block paving.

Thirdly on the mentioned credit agreement it states that we borrowed £6,310 and on the statement that you provided it states that the opening balance is £13,965. The Credit agreement states that the monthly rate of interest will be 1.55%. It does not state that the total amount borrowed will be £13,965.

 

Therefore given these reasons, WE are hereby disputing this account until such time that you can give us an explanation into the points raised.

 

Yours sincerely

 

Olives xxx

Edited February 4, 2009 by OLIVE.FAMILY
went wrong

[OLIVE.FAMILY]

bumpxxx

[Pinky69]

Your letter is spot on and we will see what they come up with in reply. Not putting the total amount for credit should tie them in knots for a while!:grin:

[OLIVE.FAMILY]

Excellent. will post that first thing. Thankyou sooo much Pinky. Will keep you posted

 

olives xx

[micko19]

Excellent. will post that first thing. Thankyou sooo much Pinky. Will keep you posted

 

olives xx

 

I am starting a claim against BCT see thread below...What is very important here...... is did they write a cheque for the paving or did they give you all the money 13,000 whatever to pay for everything yourself...

 

If the former is true it would definitely be a multiple agreement without the prescribed terms....ie the payment for the blocks would be restricted use/......debtor /creditor /supplier and the other 6,000 unrestricted use credit ie 2 seperate agreements..

 

I will try to get your apr checked also...

 

http://www.consumeractiongroup.co.uk/forum/general-debt-issues/179938-agreement-analysis-british-credit-new-post.html

 

 

mick

[OLIVE.FAMILY]

Hi there Micko.

 

We didnt actually see the money. The loan was applied for by the company who done the work. Like I said before it wasnt even block paving, it was a wall covering. When the work was completed then Protectacoat were paid directly.

 

Does the Apr seem wrong to you then??

 

olives xx

[micko19]

Hi there Micko.

 

We didnt actually see the money. The loan was applied for by the company who done the work. Like I said before it wasnt even block paving, it was a wall covering. When the work was completed then Protectacoat were paid directly.

 

Does the Apr seem wrong to you then??

 

olives xx

 

i ran it through dualcalc and got an apr of 20.2%. I think this is within the acceptable margins ie can be up to 1% above not more than 0.1% lower.. in your case 0.3% above..

 

i do not know why they did not give you a total charge for credit as they did in mine and also that should have included the £45 one off set up charge.

my account also had £920 in letter charges and accrued late payment charges have you investigated this also....

 

also might it be possible that protectacoat may have been trying to avoid a warranty claim by saying the payment was for paving...just a thought??

 

mick

Edited February 4, 2009 by micko19

[OLIVE.FAMILY]

Hi micko, Thanx for getting back to me on this. You are correct with the charges. I have around £800 in letter charges and i am also challenging this as they have a few times charged £25 for a letter and then two weeks later charged £75. How can the same letter suddenly cost £50 more ??? For the warranty think with Protectacoat the wall covering supposedly has a 20 year warranty. What if this is the case? Does this mean we have also been done over by Protectacoat also? According to the agreement the £45 was paid in the first installment.

 

So should I send this letter off or shall I try and dig a bit deeper. If the letter is sent that maybe they can expalin what is going on????

 

I am getting more and more miffed. Have I been ripped off and if so who by BCT or Protectacoat??

 

Olives xxx

[micko19]

yes the letter is a very good start. I don't think they can pursue you in court whilst the amounts are in dispute ceratainly a valid dispute on charges...Still not sure about other issues ie total charge for credit.

 

mick

[skippync]

Being an ex workman for Protectacoat I can tell you that they are now bust and you do not have a guarantee any more. When you signed this agreement was work commenced straightaway or was the 14 day cool off period allowed. This allows you to change your mind which you are entitled to under the CCA. If not you can also challenge the agreement under this. Given that they also put the incorrect work down you have a very strong case in this respects. Hope this helps.

[Et Contra Pacem Regis]

There seems to be some confusion about Amounts of Credit, Total Charge for Credit and Total Amount Payable.

The Total Amount of Credit is something with absolutely must be on the agreement, and it is - £6,310.00

The Total Charge for Credit is the amount which, at the time of the agreement, it will cost you to borrow the Total Amount of Credit, on the stated terms.

The Total Amount Payable is how much you are expected to pay over the whole agreement, and it will be the Amount of Credit plus the Total Charge for Credit.

 

On your agreement, they have ommitted the total amount payable, in violation of Paragraph 11, Schedule 1 of the Consumer Credit (Agreements) Regulations 1983. That is not an irredeemable flaw, as pointed out above.

 

As you correctly state in your original thread the balance at the start is the Total Amount Payable - the interest and the credit (and that £45 fee). As a matter of routine lenders will claim the whole amount they were expecting to paid by you. While it's true that you have only had the credit for 3 years instead of 10, it is entirely possible that, if they get Judgment, the court will make an order allowing payment of the money to spread over a long time, perhaps longer than that 10 years.

 

Misstating the purpose of the loan is a breach of Paragraph 3, Schedule 1 of the regulations (again, not irredeemable). One possibility is that the Protectacoat salesman knew that the lender would not lend you money for a protective coating (because the lender is liable under section 75 of the Consumer Credit Act for any breach of contract by the supplier of the goods), so chose to put something inoccuous on the application.

 

So it is more likely that protectacoat were perpetrating a kind of fraud on the lender, to get you the credit, to pay them for their product.

 

One quirk of BCT is that they appear to round payments to the nearest whole pound. In this case, at the stated rate of interest, that means they have undercharged you by 15p per month (or possibly rounded their interest rate up on the face of the agreement), which I suppose balances out for the next person who they over charged by 15p per month...

 

One final point - BCT have no property interest in the coating, the agreement you have with them is a credit agreement, not a Conditional Sale or an HP agreement, and they have not right (and there would be no practical purpose) to ask for the coating back.

[OLIVE.FAMILY]

Hi all.

 

I am currently in a bit of a sticky mess with my mortgage see the thread here

http://www.consumeractiongroup.co.uk/forum/showthread.php?398831-Kensington-Mortgages-Assisted-Sale/page2

 

 

Yesterday we were seriously considering an Assisted Sale. Now we don't think we can afford it as we have too many arrears and a silly Charging order from British credit trust

 

 

So my question is, is there anything I can do with this Charging order .

 

The loan was taken out around 7 years ago.

I was in a really bad place as I had just purchased my late fathers house and all my grief had all of a sudden hit me.

I wanted to change it as much as I could so it was ours and no longer resembled my dads.

 

Que. knock on the door from a company called Protecacoat.

All sounded good, change the way the front of the house looked... perfect

 

We couldn't afford this loan, we were already maxed out with mortgage and secured loan but like i said we was not thinking straight.

 

without looking at paperwork Protectacoat arranged a loan for approx £6,000 with British Credit Trust.

Inevitably we defaulted on the payments.

In the end they took out a charging order on the house as at this point I had taken the "bury my head in the sand" attitude.

 

When my head was out of the sand I had realised the loan had more than doubled and the charging order is for about £14,000.

I have heard nothing from British Credit trust since the charging order.

 

so my question is

 

can I send British Credit Trust a SAR and if its £7,000 of charges

can I get them taken off the loan??

 

alternatively this may be a long shot but Protecacoat guaranteed the covering for 20 years.

If any damage came to it by having new windows etc they would repair it under the guarantee.

 

Now Protectacoat are no more so if this happened they could not honour that guarantee.

Would that then have any impact on the loan.

May be clutching at straws here but I really want to sell my house to get shot of the Mortgage company and this charging order is just making that impossible

 

olives xx

[citizenB]

Ok, so there is a charging order on the property - was this as a result of a court claim or a voluntary charge ?

 

When was the charge applied ?

 

Was there any arrangement to repay the debt or simply wait until you sold the house ?

 

How did the sum of £6,000 become £14,000 gulp! Is interest still being added ?

 

The company that did the work is now no longer - how much would it have cost to have purchased a guarantee for 20 years (perhaps you could ask for a reduction) .

 

These are just some thoughts running through my head.

[OLIVE.FAMILY]

Ok, so there is a charging order on the property - was this as a result of a court claim or a voluntary charge ?

 

When was the charge applied ?

 

Was there any arrangement to repay the debt or simply wait until you sold the house ?

 

How did the sum of £6,000 become £14,000 gulp! Is interest still being added ?

 

The company that did the work is now no longer - how much would it have cost to have purchased a guarantee for 20 years (perhaps you could ask for a reduction) .

 

These are just some thoughts running through my head.

 

Hello

 

Charging order is a result of a court claim , since the order has been on we have not heard anything from BCT so no an arrangement has not been set up assuming then they are just waiting for us to sell?

I would also like to know how £600o became £14000, it sounds like it is the interest as thats the amount we would have probably paid by end of the term. Not sure if interest is still be adding, actually had not thought of that one.

 

Do you think then that BCT have purcahsed the guarentee ??

 

x

[citizenB]

What did the Judgment order say how the debt was to be repaid and if they were allowed to add interest ? If so, it could possibly be why they have made no attempt to enforce the judgment debt.

 

Sorry, I didn't mean that the Bank would have purchased the guarantee, I don't think they would have done. What was going through my head was.. if it were possible to negotiate your way out of this debt would there be any mileage in saying that as the work is no longer guaranteed, could you have a reduction

 

When did this happen - what year ?

[OLIVE.FAMILY]

Just been doing a bit of digging around and it looks like i started something and dint finish it a while ago. here is an old thread of mine. It has the Credit agreemnt in there. Also it notes that the money was borrowed for slab paving and not a wall covering.......

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?181675-Not-sure-how-to-deal-with-British-Credit-Trust/page2&highlight=protectacoat

xx

[OLIVE.FAMILY]

What did the Judgment order say how the debt was to be repaid and if they were allowed to add interest ? If so, it could possibly be why they have made no attempt to enforce the judgment debt.

 

Sorry, I didn't mean that the Bank would have purchased the guarantee, I don't think they would have done. What was going through my head was.. if it were possible to negotiate your way out of this debt would there be any mileage in saying that as the work is no longer guaranteed, could you have a reduction

 

When did this happen - what year ?

 

Not sure what year the judgement happened or what it said, will have a look around for paper work in a bit. I see where you are coming from as far as the guarantee is concerned, might be worth an ask

 

x

[dx100uk]

god my heart sunk when I saw that name protectacoat...

 

sadly as with any of these companies

 

the guarantee is totally worthless always was

the company has gone

and changed name sev times.

 

hibex being the latest.

 

what does your cra file say if anything please

 

get that sar off

 

sadly you were spoofed left right an centre even on the finance.

 

i'l help with the charges

 

dx

[OLIVE.FAMILY]

god my heart sunk when I saw that name protectacoat...

 

sadly as with any of these companies

 

the guarantee is totally worthless always was

the company has gone

and changed name sev times.

 

hibex being the latest.

 

what does your cra file say if anything please

 

get that sar off

 

sadly you were spoofed left right an centre even on the finance.

 

i'l help with the charges

 

dx

 

Thought I had been. Looking into it all it does help with the mis selling of my secured loan on my other thread as we took out protectacoat loan before secured loan meaning we were borrowing way way beyond our means.

 

CRA file ?? do you mean my credit record?

 

I am still searching for the original Court notice, like i said my head was firmly in the sand so I have no idea where that is. I do have the Land Regisrty notice though and that was dated 21/10/2009 and it says that at Bromley County Court on 28/08/2009 they got the charging order.

 

xx

[dx100uk]

you should be able to ring the court and ask for a copy of the CCJ.

 

cra file yes credit report

 

details are below

 

dx

[OLIVE.FAMILY]

Excellent thanx

 

Will take a look at all that tomorrow. Thanks for all your help guys. Getting my fight back once again

 

xx

[OLIVE.FAMILY]

Hi all

 

I am currently tidying up lots of loose ends as we are getting ready to sell our house or be evicted (depends on what mortgage company say).

 

At the moment we are looking at negative equity mainly because of this charging order we have.

 

We had "protect a coat" come in and cover our home in this apparently wonderful covering (yes we got had).

 

The finance was arranged with British Credit Trust.

 

We run into mega family health problems which lead to mega financial difficulties.

 

Things got ignored then we have a charging order on our house (yes did get paper work just wasn't in the right mind space to sort it)

 

We borrowed approx £6,000 and charging order is for £12,000.

 

Not heard anything for years until a few months ago when they wrote to see if we wanted to make lump sum offer to them to clear it. I didn't respond

 

I was wondering if there can be anything done to this ??

 

Olives xx

[dx100uk]

doubled?!!

 

have you got all the statements?

dunno about the charge mind

but you might get lots of money back thru reclaiming?

 

dx

[OLIVE.FAMILY]

doubled?!!

 

have you got all the statements?

dunno about the charge mind

but you might get lots of money back thru reclaiming?

 

dx

 

 

Yes doubled... I assumed that they added the interest that would of been due to them. I have a few letters so I reckon I am sending them an SAR then ? Do you think they can get funny and enforce the charging order if I make contact now... I just wanted it in negotiations before the house sells so they don't get given a large amount of money as once this house is sold and I have moved I want to be totally debt free

 

Olives x

[dx100uk]

i'd get all the info first

 

dx