Operation Revenge 2007

[alisonf]

Ive got TMB. its in an excel sheet how do I put it on here?

[groovycaz]

Anyone trying to complain about Blemain Finance Or The Lancashire Mortgage Corporation dont waste your time complaining to the Financial Ombudsman about this Company. They can only consider complaints about activities or services provided by firms that are regulated by the FSA. Blemain Finance gave the OFT an informal assurance that they would stop using the "Rule of 78" formula when calculating early redemption penalties on any loans taken out since jan 98 because it could result in the customer paying a charge much higher than would reasonably compensate the firm for charges lost through early repayment. My loan was taken out in 2001 yet contained this Term, which when I complained to Blemain, I was told that my settlement figure was calculated fully in accordance with both the signed legal agreements and the consumer act regulations(they didnt sign the agreement, their part was left blank). They denied overcharging and stated that the agreement did not fall into the category of unfair Consumer Contract. My £7500 mortgage at 24.62% cost me £13,563.58 to settle after 32 months, no penalties for late payments. I've just discovered from documents from my solicitor that the lump sum paid after 32 months of £122.29 which was £9,650.30 was in fact paid to Prime Business Loans, Never heard of them, has anyone? I cant find anything out about this company, do they exist? I have never had any loans with them. If anyone has this sort of complaint about Blemain I have been directed to the Finance and Leasing Association Tel no 0207 8366511 web site http://www.fla.org.uk/

[Notty]

I am amazed to see Northern Rock on your list Gizmo. Although I have a mortgage with them I didnt think they were sub prime. I had about £3000 worth of arrears with them last year. They sent me court papers for repossesion order. I managed to pay the arrears all but £300. I wrote to them and their solicitors also phoned them and I was told as long as the arrears were settled the court case for possesion would not go ahead. It did and they now have a possesion order on my house. I had a letter from them saying they were sorry I was given the wrong information and as long as I paid every month and didnt get into arrears then they wouldnt take the house.

 

Any help I can give let me know.

[gizmo111]

Hi Notty,

 

THey are not sub prime in the traditional sense, but they do lend to people with lower credit scores than high street lenders. The yare also very aggressive in their response to people - and take proceedings forward as you have found.

 

I am amazed to see Northern Rock on your list Gizmo. Although I have a mortgage with them I didnt think they were sub prime. I had about £3000 worth of arrears with them last year. They sent me court papers for repossesion order. I managed to pay the arrears all but £300. I wrote to them and their solicitors also phoned them and I was told as long as the arrears were settled the court case for possesion would not go ahead. It did and they now have a possesion order on my house. I had a letter from them saying they were sorry I was given the wrong information and as long as I paid every month and didnt get into arrears then they wouldnt take the house.

 

Any help I can give let me know.

[ellielou]

Wow Zoot - great to see you gearing up the troops.

You can count me in - happy to do what it takes - just let me know.

Let's go get 'em

[jamorgan]

The people on this forum are just fantastic arn't they

I shall do what I can to help Zoot

At the moment I'l see what I can find on Kensington/MAS

[mattfromnotts]

Zoot

 

Are you only including sub-prime lenders on this list or high street lenders as well?

 

matt

[Bona]

Notty

As I understand it the moment any one pays the arreas the case lapses they cannot bring it back they have to make a new claim if the arreas are paid the case is closed they then need to make a new application to the court No claim is continous once the arreas are paid ring your court and ask them You may need to clarify with a letter

Bona

[CrispDust]

gizmo, I'm like you, I've had no trouble from them, just paying over the odds on interest rate (7.45%) - I think if you keep your nose clean they are OK. They had a lousy online savings account - good rate (they can afford it with all the mugs they are lending to!) it just didn't work online - I couldn't get my money when i needed to pay the tax man! They weren't interested in trying to resolve it or go any further with the complaint. I let it slip - lifes too short and the IF account I opened works fantastically.

[Notty]

Thanks for that Boan. I will write to the court. You learn so much on this site, its wonderful.

[gizmo111]

Thanks for that Boan. I will write to the court. You learn so much on this site, its wonderful.

 

Notty - I am no expert on repossesions but my understanding is that they wil lnow have a suspended ppssesion order on your home which if you fall into arrears again they can action without going back to court for a possesion order. National debtline have info on this, and also zooman will have the correct answer.

 

Hope this helps

[down&out]

Hi Zoot,

count me in,would love to wipe the smug smile from kensingtons face!!!

[slybeth4]

Hi

 

Iam starting with the credit card companies today and then GMAC ! They totally screwed me up on two mortgages recently. I have some good correspondence from them as I did complain. I am determined to take them on as they placed both my properties into receivership. Fortunately, I saved them but at great expense. I know somewhere along the lines they have overcharged or worse still not followed procedure.

 

Guys this forum is superb and I cannot believe I have been on here for nearly 8 hours today ! Someone is going to Pay !!!! I feel like Goliath and prepared to take anyone to the battle field !.

 

 

Watch this space.

 

Thanks

[martdj]

I'm with you on this one. Lets screw the sub prime lenders. If someone has a charge over your property whay cant they charge the same rate as prime lenders. After all they will getb your property in the end!!

[InKogneeToh]

 

Incidently, copies of my credit file revealed no adverse credit for either myself of partner, but we still couldnt get a prime lender mortgage so guess who we stuck with now - IMAC - see they are on your hit list *sob* .

 

 

Hi

 

Don't want to hijack this thread but if you need a reasonable adverse credit mortgage then I recommend Chelsea Building Society. They have a range called Prospect Mortgages at very reasonable rates and for most circumstances.

 

I was fortunate enough to discover their products 5 years ago when I was then being fleeced by Kensington. Take a look at the Chelsea website - it's in mortgage section under 'financial difficulties'.

 

Regards, Pam

[rcl]

Im in, Whatever I can do to help, Please let me know !!!

 

I was with GMAC, and had three months arrears, i offered £100 per month extra to pay off the arrears and they wouldnt accept it and took me to court for repossession.

At court I did an income expenditure and again offered £100.00 per month off the arrears (they also put my mortgage up another £200.00 a month on top of this !!!) The judge made them accept the offer.

 

So not only did I get shafted for their unnecessary solicitors costs, at an unnecessary court hearing, Once i was paying an additional £100.00 off the arrears, they were charging me £80.00 per month arrears fee, therefore i was only actually paying £20 per month off the arrears.

 

Had i not moved mortgage companies, i would have had arrears fees for the rest of the life of the mortgage

 

It's scandalous - legalised robbery - I work flippin hard for the money I earn

 

Im in 110 % Put me at the top of the list for people willing to do what they can to stop this happening to other people.

[Bona]

you might find this interesting especially the bit about making an offer then the court upholding it

[3] Expenses ‘not reasonably incurred’ argument

The final suggested argument is perhaps more straight-forward and relies upon the requirement in Standard Condition 12 for the creditor’s expenses to have been ‘reasonably incurred’. In Royal Bank of Scotland v. Kinnear GWD 3-124, the creditor raised repossession proceedings notwithstanding that the debtor had voluntarily agreed to sell the security subjects. The court awarded expenses against the creditor. This decision was upheld by Sheriff Principal Kerr Q.C. who found that it had not been reasonable for the creditor to proceed with proceedings in the particular circumstances of the case. Since the enactment of the MRA it is now possible for debtors to resist decree for repossession if they can present and adhere to a reasonable repayment plan. What happens if the creditor rejects a repayment plan prior to raising proceedings which the court later accepts as reasonable? Arguably the creditor has acted unreasonably in refusing the repayment plan and raising proceedings, and if so, the debtor can insist that expenses under Standard Condition 12 are not ‘reasonably incurred’. The MRA would seem to lend support to this line of argument as creditors are now aware that the courts, in deciding whether or not to suspend their right to seek decree, will have regard to ‘any action taken by the creditor to assist the debtor to fulfil those obligations [under the mortgage]’ (section 2(2)©).

Perhaps the one thing certain on this subject is that the law on legal expenses in repossession cases requires clarification in light of the MRA. Whether that can be provided by the courts or whether law reform is needed to do justice between the parties in light of the MRA we shall need to wait and see.

[dashngail]

We're with this campaign all the way, anything we can do?

Dashngail

[zootscoot]

Hiya Dashngail,

 

Long time no see. Is your claim still on going?

[essjaysea]

Some more sub prime lenders

 

Moneypartners

Stroud & Swindon BS

Lancashire Mortgage Corporation

Cheshire Mortgage Corporation

Mortgage Trust

Accord

Derbyshire Home Loans

London Mortgage Company

Rooftop

UCB

Victoria Mortgages

GE Money

[Guest Partypip]

you might find this interesting especially the bit about making an offer then the court upholding it

[3] Expenses ‘not reasonably incurred’ argument

The final suggested argument is perhaps more straight-forward and relies upon the requirement in Standard Condition 12 for the creditor’s expenses to have been ‘reasonably incurred’. In Royal Bank of Scotland v. Kinnear GWD 3-124, the creditor raised repossession proceedings notwithstanding that the debtor had voluntarily agreed to sell the security subjects. The court awarded expenses against the creditor. This decision was upheld by Sheriff Principal Kerr Q.C. who found that it had not been reasonable for the creditor to proceed with proceedings in the particular circumstances of the case. Since the enactment of the MRA it is now possible for debtors to resist decree for repossession if they can present and adhere to a reasonable repayment plan. What happens if the creditor rejects a repayment plan prior to raising proceedings which the court later accepts as reasonable? Arguably the creditor has acted unreasonably in refusing the repayment plan and raising proceedings, and if so, the debtor can insist that expenses under Standard Condition 12 are not ‘reasonably incurred’. The MRA would seem to lend support to this line of argument as creditors are now aware that the courts, in deciding whether or not to suspend their right to seek decree, will have regard to ‘any action taken by the creditor to assist the debtor to fulfil those obligations [under the mortgage]’ (section 2(2)©).

Perhaps the one thing certain on this subject is that the law on legal expenses in repossession cases requires clarification in light of the MRA. Whether that can be provided by the courts or whether law reform is needed to do justice between the parties in light of the MRA we shall need to wait and see.

Thank you Bona

 

so basically, gmac have acted unreasonably, and i shouldnt have been charged the solicitors fee's, and certainly not the arrears fees each month thereafter, but nobody has actually pursued this through the courts (hope im reading this right)

 

when i offered them £100.00 a month off the arrears, it was via a telephone call made to them. i have a copy of notes made by gmac regarding this phone call in the info sent to me replying to my S.A.R - (Subject Access Request), so basically i can prove that the phone call was made by using copies of gmacs own computer records !!

 

(edited to add that partypip and rcl are the same person - i just log in using 2 different computers)

[12break3]

Dear All @ CAG Shattered dreams and shattered life’s

 

Brief history: Purchased 1st house at 19 lived on ‘bake bean’ lifestyle & let at 21. Sold & purchased our Property 1, much loved family home for

13 years & let 2003. Proceeds from 1st house, purchased gran’s house under right to buy & let for 15 years as Property 2.

 

To date: Purchased Main Residence 2003 with planning permission & now £400K equity available. Hard work/timing over 20 years our homes are treasured & carefully maintained with no history of debt. Property close to top senior school with impending serious degenerative illness aiming therefore to leave each child a home when 21.

 

Husband took lesser career 2003 to learn essential trades for up and coming house refurbishments/extension 2005 to coincide with father’s retirement and younger brother who has worked for us for 15 years.

 

Large stamp duty/solicitors fee 2003 meaning 3 missed payments on mortgage initially. To which 18 months payments ensured with negotiations ongoing with ‘Another company’ with charges being refunded 2006. 15k of undity odd’s n ends with banks/credit cards as to interest with consolidation 2005/6 accordingly.

 

REPOSSESSION IMINIENT: Please read attached statement (awaiting your instructions as to sending and who to its 20 pages long typical war& peace)

 

The rest can be read here;

http://www.consumeractiongroup.co.uk/forum/other-institutions/65310-buy-one-house-get.html

[12break3]

So count me in too! need help big time:mad:

[Guest willowb]

Hi Justin,

 

Boy!!!! couldn't quite get through all that, needs breaking down somewhat......"Janet and John" style works for me!

 

The mortgage company that you are having probs with, are you still with them for one or both of your houses?

 

Wxxx

[12break3]

Hi willowb,

 

I've just added you to my buddy list when you came up how about that!!

 

It's so bloody complicated now, Im running away with myself but I think this could be a really good case. I have the original evidence as to there admistrative error of not changing the address on property one they only changed the address on property 2. Gizmo has just asked me to enlighten him so I will try and put it in laymen's terms

The morgage company provided data to a collection company to collect a debt that arose over 6 months, the collection company then supplied this data to our tenants. The data was wrong the amount arose because they failed to update there records to which when I went over drawn by 24 hours the DDM was returned, then he DDM submitted automatically 9 days later and sent me over drawn by £35.00 thus the higher amount of the two accounts was stopped. We did not discover this had happened due to online services with our banks & laptop was broken. My arguement is why should I keep correcting there admistratvie errors then taking the tab for it. So for 6 months they could not write to us becuase of incorrect address. but they should have written to us informing us of the DDM being sent back, then written again as to represent DDM nine days later and written again that the banks had stopped the DDM. They then carried on with the amount that rose and applied as a bloody defualt to which we have really suffured as to!