CB Vs The Dodgey Loan Brokers

[Curlyben]

Well back in 2006 I wanted to consolidate some borrowing, as my credit sucks I started the old trawl around.
So I ended up in the clutches of first Churchwood Financial and then YES Loans.

So after being offered what I required over the phone, repayments that suited my budget, I duly filled in the paperwork and sent off my fee, £49.99 for Churchwood and £49.50 for YES.
Before you say anything, I should of known what was going to happen next.
Well they came back and informed me that I couldn't have ANY loan at all and then tried to force me into a DMP that I didn't want or really need.

So I'd forgotten about these and written the £100 off to experience.
Well after going through my old paperwork I find some letters concerning this.
Time to ask for my brokerage fee back, especially as CCA74 s155 helps in this regard.

155.—(l) The excess over £1 of a fee or commission for his services charged by a credit-broker to an individual to whom this subsection applies shall cease to be payable or, as the case may be, shall be recoverable by the individual if the introduction does not result in his entering into a relevant agreement within the six months following the introduction (disregarding any agreement which is cancelled under section 69(1) or becomes subject to section 69(2)).
(2) Subsection (1) applies to an individual who sought an introduction for a purpose which would have been fulfilled by his entry into—

(a) a regulated agreement! or
(b) in the case of an individual such as is referred to in section 145(2)(a)(ii), an agreement for credit secured on land, or
(c) an agreement such as is referred to in section 145(3)(b) or (4)(b). 81

(3) An agreement is a relevant agreement for the purposes of subsection (l) in relation to an individual if it is an agreement such as is referred to in subsection (2) in relation to that individual.
(4) In the case of an individual desiring to obtain credit under a consumer credit agreement, any sum payable or paid by him to a credit-broker otherwise than as a fee or commission for the credit-broker’s services shall for the purposes of subsection (l) be treated as such a fee or commission if it enters, or would enter, into the total charge for credit.

Well they have clearly failed and even attempted to "sell" me a completely seperate product then the one I required.
Now the only things I have signed are the original "application" forms and NO credit agreements at all.

All in all pretty dumb, but now the fun begins.
This will either be nice and straightforward or a right pain in the backside.
Anyone else want to join in the ride.

[Amethyst]

Re: CB Vs The Dodgey Loan Brokers

Churchwood - whys that ring a bell ?

[Niklowe]

Re: CB Vs The Dodgey Loan Brokers

CB, The main decision is what interest are you going to charge them? Lol
------------------------------- merged -------------------------------
BTW.

Is YES the same firm that was YESCARCREDIT?

[Curlyben]

Re: CB Vs The Dodgey Loan Brokers

Well I'll start pleasant and simply ask for my cash, then I'll get nasty

[Niklowe]

Re: CB Vs The Dodgey Loan Brokers

You nasty, no I can't believe that CB. (On second thoughts..............). Good luck CB, I shall enjoy this one as they haven't a leg to stand on, as far as I can see in your take on the law regarding the contract(or lack of one).

[Curlyben]

Re: CB Vs The Dodgey Loan Brokers

Small update.
So I sent them both this letter with the appropriate dates on the 5th Sept.
Took some time to find the correct dates and ref numbers.

Request for Repayment of Fees

Dear Sir or Madam,

Re. Reference number: xxxxx

My request
I am writing to ask you to refund to me the administration fee, minus acceptable charges, which I paid in good faith for a loan in **Date**.

I now understand that the administration fee of £49.50, minus charges, is reclaimable as you are a credit-broker offering a service and as such section 155 of the Consumer Credit Act 1974 applies.

The Consumer Credit Act 1974 s155 states:

(1) The excess over £5 of a fee or commission for his services charged by a credit-broker to an individual to whom this subsection applies shall cease to be payable or, as the case may be, shall be recoverable by the individual if the introduction does not result in his entering into a relevant agreement within the six months following the introduction

As you failed to secure a regulated agreement within the prescribed time frame I believe that this section applies, hence my request for repayment.


What I require

Administration Fee paid: £49.50
Allowable Charges: (£5.00)

Total Repayable: £44.50

My targets to resolve this matter
I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets.

I will give you 14 days to reply to me accepting, unconditionally, my request in principle and letting me know a date by which I will receive payment.

If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that these targets are more than sufficient for a large company such as yours with dedicated staff and departments.

After that, there will be no further communication from me and I shall issue a County Court claim at the expiry of the second deadline.

I would appreciate your due diligence in this matter.


Yours faithfully,


Me

So we are approaching the first deadline for response and so far nowt !!
Expires 21st, allowing 2 days for delivery, as I'm generous.


Next step will be an LBA in the style of a DCA with a full break down of what I will be filing at court.
Now couple of questions.

• Can I claim LIP costs @£10 an hour
• If so how much should I put down, I'm thinking 5 hours.

[Amethyst]

Re: CB Vs The Dodgey Loan Brokers

52.4 The amount, which may be allowed to a litigant in person under rule 46.3(5)(b) and rule 48.6(4), is £9.25 per hour.


Will check why FOS have put £10.00

5 hours - for research, prelim and LBA - sounds fair enough to me.

[Amethyst]

Re: CB Vs The Dodgey Loan Brokers

The £10 an hour FOS is if you take it through FOS.

For court you are stuck at £9.25 unless you prove it caused loss of income etc - but then it is limited to two thirds of the amount of your claim (I think) so better off going the £9.25 route.

[Curlyben]

Re: CB Vs The Dodgey Loan Brokers

Well still nowt.
I wonder if they think by ignoring me I'll go away.
Well I'll get my LBA sorted over the next few days and ready to post on Tuesday.
No quarter given on this one, boy are they in for a shock

[Curlyben]

Re: CB Vs The Dodgey Loan Brokers

Well time's up and still nowt.
So time for a nice LBA I think

Letter Before Action

Dear Sir or Madam,

Re. Account number: Blah Blah

Despite previous communication this issue remains outstanding.

Under the terms of the Consumer Credit Act 1974 section 155, the full balance is now seriously overdue.

I refer to the administration charges applied by you for an incomplete service, amounting to £44.50, which I have requested you pay back. I wrote to you on 5th September 2008, making the original request for a payment in settlement of my claim. As I have not heard from you or received any satisfactory response, I am writing to inform you I intend to claim the full amount claimed together with interest up to the date of judgement and court fees in the proceedings through the county court.

Fees charged - - - - - - - - - £49.50
Allowable deductions - - - - - £5.00

Sub Total - - - - - - - £44.50

Statutory Interest 8% - - - - - £8.53
Litigant in Person Costs- - -£46.25
5 Hours @ £9.25
Court Costs - - - - - - - - - - - £30.00

Total Claim £129.28

Failure to settle this matter will result in the commencement of legal proceedings that could necessitate the appointment of bailiffs against you.


I require repayment in full of this money. If you do not comply fully within 14 days then I shall begin a claim against you for the full amount plus interest plus my costs, as detailed above, without further notice.


Yours faithfully


Me you buggers

Ok so some rough ideas here. Any comments ??

[Curlyben]

Re: CB Vs The Dodgey Loan Brokers

LBA posted, now time to sit back and wait.
I've been generous and told them I expect a payment by 10th October, so just have to see.

Failing that I suppose I'd better get my POC done.

Now should I N1 or MCOL ?

[Curlyben]

Re: CB Vs The Dodgey Loan Brokers

Some news on this front.
Got home to a nice letter from YES and a cheque for my claim.
So result #1 and £44.50 better off

[scottishlass]

Re: CB Vs The Dodgey Loan Brokers

well done Curly good result

[Sapphire]

Re: CB Vs The Dodgey Loan Brokers

Nice result Curly do you want the title changed to *SETTLED*, if so give me a shout and I'll do it for you hun.

[Curlyben]

Re: CB Vs The Dodgey Loan Brokers

Not yet as there's still one outstanding.
I'm just dusting off my POC writing skills as they have a HARD deadline.
If not I'll be filing a nice N1 at my local court.
After all they haven't seen me for a while

Just reread the letter and it's dated 9th sept and the cheque is 12th, so looks like they have been playing silly games with me and probably waiting to see how serious I am.
Well they're out now anyway.