Backdoor Cabot/Marlin 2005 CCJ for old BCT car finance remainder after vt . not paid since 2005!!

[postggj]

time to have fun

yes i can confirm

 

commission payments not declared to the borrower:-D

wilson v hurstanger

 

i see commission on the gap insurance also

 

do you have a policy doc for this

underwriters etc etc

[just_jue]

Hi, No policy doc was included.

 

JJ

[postggj]

i cant see gap either on the agreement

any help on that

[just_jue]

Hi,

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at the bottom, slightly distorted by me.

 

sorry agreement1 at the bottom

[postggj]

Just Jue

 

I Think I Have Hit The Jack Pot

They Have Included The Gap In With The Amount Of Credit

 

Wilson V Fct

 

The Insurance Needs To Be Kept Seperate

 

Along With The Brokers Commission

 

Its Game Over

 

You Need Two Signature Boxes After The 31 May 2005

 

Whats The Date On Your Agreement

 

JUST NOTICED

YOURS IS A 2003 AGREEMENT

[just_jue]

Yea Jan 2003

 

Hi, so what is the best course of action?

 

Thanks

 

JJ

[postggj]

leave this with me for a few days

[just_jue]

Hi thanks for looking into it for me.

I have found this on the OFT website:

 

Brokers should disclose at the outset the nature and extent of the

service offered to the borrower, together with any ties they may have to

lenders or other brokers. If a brokerage fee is payable this should be

made clear at the outset. The amount of the fee should be confirmed in

writing before entry into the credit agreement. All fees repayable under

section 155 of the Act should be returned promptly in accordance with

OFT guidance on section 155.9

3.10 The existence of any commission or other payment payable by the

lender to the broker should be disclosed to the borrower at an early

stage, so that they are aware of the potential conflict of interest. The

amount of the commission should be disclosed on request. Lenders

should ensure that remuneration arrangements do not provide an undue

incentive for brokers to recommend particular products when these may

not be in the borrower's best interests. For example, lenders should only

be offering higher commissions in respect of one of their products

relative to another where this is justified in terms of the relative work

involved. They should not be offering volume overriders10.

 

The broker fee wasn't disclosed until we did the SAR.

 

Hi Post sorry to be a pest, I know you have been unwell, just wondered if you have had any ideas on what the best state of play would be?

 

Thanks

 

JJ

[postggj]

ill see you tomorow night

 

have to go over thread again

 

regards

[just_jue]

Hi, no rush, just interested now.

Thanks

JJ

 

Sorry to be pain but have you had anytime yet?

 

Thanks

 

JJ

[postggj]

hi just jue

 

no panic as ime on it

 

just confirming a few things

[just_jue]

Thanks your a star

 

I'm surprised that we haven't heard anything from Bramber now they have sent all the SAR, I wonder why?

 

Hi, I am after some advice please.

 

We had some trouble with a car we had on finance with BCT and vt the car after paying £5200.

This left a negative balance and we have been paying Bramber (Marlin or what ever name they go by this week).

We sent of a request for CCA and SAR.

When the SAR came back I searched through it and have found a payment to a broker of nearly £1500 which wasn't disclosed to us at the time as well as nearly £1300 in charges.

I have done some research and broker fees should be disclosed at the time of the agreement (the only articles I could find is for mortgages).

 

The strange thing is when I requested the SAR Bramber were on the phone every other day but since we received the SAR we have heard nothing from them!

 

I want to complain about this problem but want to make sure that I am right before going ahead.

 

Thanks for your time

 

JJ

[postggj]

Why Are You Paying A Shotfall When You Did A Vt

Why The Negative Balance

 

Ref The Undisclosed Commission Payments, Google

 

Wilson V Hurstanger

[just_jue]

We Vt the car as it had broken down and would of cost to much to repair, BCT wouldn't help us out with the cost of repairs.

I have looked at the case files for Wilson v Hurstanger and wanted to know if broker fees on car finance were the same as on mortgages.

Thanks

[postggj]

ref the vt

 

did bct give a break down on the vt figure in writing, do you still have it

 

the wilson v hurstanger is for all agreements

 

i myself used it against welcome finance in court

[just_jue]

I have everything they sent in the SAR. Which shows the auction price etc

[42man]

Very interesting....if the broker fee was not disclosed then it is a secret commission and I would suggest you create an instant dispute with the lender to repay this money. Give them the chance to answer your dispute. If they fail to respond or fail to respond satisfactorily (by paying you back the amount + interest) then I would report them to the FOS. (or you could take them to court yourself, but you would either need to be incredibly knowledgable or employ a good solicitor) Any PPI on the agreement ?

[summerbreeze]

Very interesting post

Did you employ the broker to get the finance for you or was this a commission paid to the Car dealer where you purchased the car?

[just_jue]

A brief description of what happened:

 

We had a car on finance from BCT - it was stolen from a garage's car park whilst it was having some work done. So this car was written off via GAP insurance.

If I remember right this broker got involed when we were looking around for a new car (we thought he was working on behalf of BCT) we didn't ring him to get finance, he kept making appointments for us to look at cars at various garages (none of which were right as we needed a family sized automatic).

We found a car at another garage, much to the annoyance of the broker (I can see why know), and sorted the funance again with BCT.

If I knew he was charging a fee I would never have gone ahead with them.

 

Hope it makes sense

 

There was no PPI on the agreement only Gap insurance (which worked for use in the last post).

[postggj]

i need to see how bct has done any shortfall

 

you should have a doc which states

 

half of agreement to pay

condition of vehicle

any insurance rebate

 

etc etc

[just_jue]

Hi the shortfall, I have the receipt of what the car went for at auction showing costs etc, is that what you want to see?

[SHELBELLE]

Subbing

[just_jue]

Hi,

 

Have got a lot of paperwork through a SAR, what info do you need to know?

I have to say that the DCA have been very quiet since I got all this info.

 

JJ

 

Here is some paper work I have scanned up:

 

 

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http://i718.photobucket.com/albums/w...t/payment1.jpg

http://i718.photobucket.com/albums/w...t/payment2.jpg

http://i718.photobucket.com/albums/w...t/payment4.jpg

http://i718.photobucket.com/albums/w...t/payment5.jpg

Image hosting, free photo sharing & video sharing at Photobucket

Image hosting, free photo sharing & video sharing at Photobucket

Image hosting, free photo sharing & video sharing at Photobucket

http://i718.photobucket.com/albums/w...t/payment3.jpg

[postggj]

before we go onto the commission angle, tell me

 

what was the figure on the agreement, the one under the termination rights

 

it states that they cant do a repo if this figure has been reached

 

its normally a third on the total amount

 

so

 

what is the termination figure

how many months was the agreement over

how many repayments had you made

 

confirm also

 

was this a repo or did you return under a voluntry termination

 

ime getting nothing on those links

[just_jue]

We returned the car voluntary as the engine had ceased up and BCT wouldn't help us with the repairs.

We had paid over 1/2 the required amount.

 

Would it be worth making FORMAL REQUEST FOR INFORMATION

CPR part 31.16 regarding the broker fees?