** DISCONTINUED ** Mmile finance v kinky john

[Amethyst]

Well, you didn't borrow £600 ... so they'd need to prove you did. The loan agreement that they have sent you says £116 - with 0% interest and £0 charges - their statement is entirely at odds with that. So they are going to have to show how it changed from £116 to £600 'principal borrowed'. You've only ever had one loan with Vivus ( I assume).

Do you want to write back to them (though that gives them opportunity to fix things) or just get on with Witness Statement once you have hearing date ( they have to pay hearing fee before the Witness Statements are due to be exchanged ).

It might be worth seeing if you can get a copy of your bank statement for the date when the £116 was paid in, just to evidence that that is all you had from them.

[kinky john]

I had previous loans with vivus but paid them in full.

think i’ll stick with working on the witness statement, rather than give them the chance to “right the wrongs” so to speak.

yeah i have my bank statements from then so that should be no bother locating that evidence

[kinky john]

Received Notice of Transfer of Proceedings today.... oooooooh things are getting serious :-/

[Amethyst]

Oooooooooooooooooooh indeed.... next should be directions & hearing date from the court. Then you can get on with writing your WItness Statement.

This £129 repayment on a 0% interest 0 charges £116 loan is still bugging me - is any charge at all shown on the credit agreement ? Where the heck has £13 come from. Interest at 1% a day compounded would take it to 124.36 ( thereabouts). There doesn't seem to be a 'total charge for credit' part on the agreement ( which I believe makes it unenforceabe as it's a prescribed term - unless there is no charge for credit ( as indicated by the 0% £0 charge bit)

[kinky john]

I havent a clue theres nothing on my credit file to show anything of the £600. If at all possible i could send you all the documents provided? You have a DM address?

[Amethyst]

It's very odd IMO - I can't find any other examples of Vivus agreements to compare to either .... email is admin@legalbeagles.info - thank you.

Also you said you had all your bank statements so can you see if there were any other loans previously for £600 or were they all £100 odd amounts?

[kinky john]

Checked my loans list and something has appeared which may answer, sent you all details by email.

[Amethyst]

Need a Maths person - to me £23 per £100 per month is not equivalent to 23% flat interest per annum ( as per the front page of the agreement )

Got the docs now thank you - will have a look xxx

[kinky john]

Appreciate all the help, thanks

[Amethyst]

You know the other loans - they don't add up to £600 - so presumably you made some repayments? ( then they added interest and charges to get to the claim amount ) Do any payments show in your statements ? The Maths so far just don't add up at all, I can't see how MMF would be able to justify anything, provide calculations as to how the figure being claimed is arrived at, or enforce that agreement. They'd at least have to provide all the other agreements and do the Maths on them.

I hate things that don't make sense - and I'm not great at Maths - so feel like I must be missing something obvious. That agreement is not the 'first' loan ( tho it doesn't say that on it) so the 23% per month or part month applies but that 7 day repayment figure doesn't work out.

[kinky john]

They do add up to £600, not to pour scorn on your addition ability haha, so it must be them?

[kinky john]

£115
£50
£295
£140
= £600

[kinky john]

Dont know why they have only supplied me with just the one agreement?

[kinky john]

I made an affordability loan claim which I have just sent you their reply, if that has any effect on this case.

[Amethyst]

Cool I included that £100 too but guess thats a different lender.

Soooo the 115 was the first loan of the four ( over the next week ) - so the 0% applies ? so still that makes no sense where the £13 odd difference with repayment comes from. All the loans were taken out before the first was due to be paid and were separate, ie not paying off previous or rolling over ? So the second loan for £50 was actually a 7 day loan for £50, not a 115+50 where the 115( maybe plus that £13) was paid off and 60 cash ? ( I know it was a while back - the figures you have are from your bank statements aren't they so would just show the cash amounts ) .... anyway thinking if they paid one another off with a top up it would be the final agreement the claim is based on, not the first ? And if they were payoff/top up then that 23% would be incurred on all of it.

Ughhhhhh lol