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Hi there, I have a Tomlin Order, the rules of which are to repay the original debt of £27235.62 by way of a payment of £100 per month until repaid. The loan was originally unsecured with Northern Rock but became secured when the Tomlin Order was enforced from 01/09/07.
Northern Rock sold the secured loan to Heliodor on 11/11/2019 for circa £26k who have since charged my loan their variable rate of interest. And so the debt has increased astronomically, now standing at over £45k.
Its been incredibly frustrating for the last 4 years getting anyone at Heliodor to understand they shouldn't have been charging their own interest rate, until I made a formal complaint which took them a full 6 months to send a Final Response letter.
They now agree the debt 'is not decreasing as expected' so they have agreed 'no further interest' will be added to the account. But no mention of refunding the interest they have charged for the last 4 years since they took the account over. They said they would delete my loan account from my credit file which they have done. And they advised I would be contacted by their Loss Recoveries Team for me to put forward my payment proposals, including any full and final settlement offers I may wish to make.
I didnt respond and 3 weeks later I got another letter from them confirming my loan account is now in credit by one month's payment, that no further payments are required, and asked if I want to keep the account open for the remaining term of 1 year 4 months, or if I wished to redeem the account.
I didnt respond and 5 weeks later I got another letter advising me that account was redeemed 12 years ago in 2011!!
So my question is... has Heliodor breached my Tomlin Order by charging me interest when they shouldn't have done? Do I have any legal claim against them for this? I've continued paying my £100pm to them without fail, as I don't trust what they're telling me is correct. I'm not confident I should stop paying that payment as the Tomlin Order has never been closed, or if the loan was indeed redeemed in 2011 (I never received any confirmation of this back then, and the second charge is still secured on my home).
The debt remains at £45k so I thought of writing back to Heliodor to take them at their word that the loan was redeemed 12 years ago (even though that's nonsensical since they took it over as a live account in 2019) and ask them to remove the second charge accordingly. But I'm fearful they will respond saying they made an error and I still owe them £45k when it shouldn't that figure as it still includes all the interest they've charged me for the last 4 years.
So can you please advise how I should handle this? Also, who is responsible for closing down a Tomlin Order?
I'm sorry this is long but hope you can throw some light my way. Thankyou.
Northern Rock sold the secured loan to Heliodor on 11/11/2019 for circa £26k who have since charged my loan their variable rate of interest. And so the debt has increased astronomically, now standing at over £45k.
Its been incredibly frustrating for the last 4 years getting anyone at Heliodor to understand they shouldn't have been charging their own interest rate, until I made a formal complaint which took them a full 6 months to send a Final Response letter.
They now agree the debt 'is not decreasing as expected' so they have agreed 'no further interest' will be added to the account. But no mention of refunding the interest they have charged for the last 4 years since they took the account over. They said they would delete my loan account from my credit file which they have done. And they advised I would be contacted by their Loss Recoveries Team for me to put forward my payment proposals, including any full and final settlement offers I may wish to make.
I didnt respond and 3 weeks later I got another letter from them confirming my loan account is now in credit by one month's payment, that no further payments are required, and asked if I want to keep the account open for the remaining term of 1 year 4 months, or if I wished to redeem the account.
I didnt respond and 5 weeks later I got another letter advising me that account was redeemed 12 years ago in 2011!!
So my question is... has Heliodor breached my Tomlin Order by charging me interest when they shouldn't have done? Do I have any legal claim against them for this? I've continued paying my £100pm to them without fail, as I don't trust what they're telling me is correct. I'm not confident I should stop paying that payment as the Tomlin Order has never been closed, or if the loan was indeed redeemed in 2011 (I never received any confirmation of this back then, and the second charge is still secured on my home).
The debt remains at £45k so I thought of writing back to Heliodor to take them at their word that the loan was redeemed 12 years ago (even though that's nonsensical since they took it over as a live account in 2019) and ask them to remove the second charge accordingly. But I'm fearful they will respond saying they made an error and I still owe them £45k when it shouldn't that figure as it still includes all the interest they've charged me for the last 4 years.
So can you please advise how I should handle this? Also, who is responsible for closing down a Tomlin Order?
I'm sorry this is long but hope you can throw some light my way. Thankyou.
