Stayed claim now being lifted 3 years later - Summary Judgement?

[Amethyst]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Sorry for bitty posts, got a house full xxx

[Amethyst]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Have you got a default notice from the original loan debt?

[Chauffeurdude]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

To be honest that was my take on it, that the debt should revert to circa £14k as was before. I am working out some figures tonight to make an offer tomorrow but based on paying £14k ish over 7 yrs which seems reasonable to me!! I will have PPI to come back as I was self employed when I took out the loan and they knew that!! Figure of £3k is about the figure I got so that will help! I do have other PPI to reclaim from Welcome Finance of all people!! Just need to get my act together and do it!!!

Not sure if I have the original default notice. I will check paperwork when get back home later.

I am out all day tomorrow on a chauffeur job but will speak to DCA on phone tomorrow morning. Looks like will have to move pretty fast to sort this before hearing next Friday!!

Many thanks.

[Amethyst]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Ahh you are actually a Chauffeur then ... cool

You might struggle to use the PPI as a negotiating tool, as it would be reclaimed from the original creditor (who missold you the insurance in the first place) so if not, no fear just take that through the complaints process and FOS then use any refund to pay a lump sum off of this.

I couldn't see the agreement in the docs you sent me, are you happy that is compliant.

The overdraft is harder obviously to defend but if the loan agreement isn't compliant that could be another good negotiating point to get the amount agreed on the Tomlin order down.

[Chauffeurdude]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Yes that was the plan to try and reclaim PPI then pay it off the debt. I thought the loan agreement was in with the docs I sent? Sorry will try and resend it. It is a copy but has my signature and dated etc. Can't see a default notice from Lloyds in the paperwork I have here. Does that make a difference?

Presumably as debt was assigned to the DCA they have paid peanuts for it and now own the debt? Any idea what sort of percentage they would have paid for a £15k debt? Just trying to get my head round what the situation owes them if you see what I mean!

Apparently overdraft comes under different regs so will be difficult to defend. I think on balance this is the right route to take trying to negotiate a settlement rather than risk a monster CCJ which will undo all my recent work!! Fingers crossed!!

Thank you very much.

[FlamingParrot]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Yes that was the plan to try and reclaim PPI then pay it off the debt. I thought the loan agreement was in with the docs I sent? Sorry will try and resend it. It is a copy but has my signature and dated etc. Can't see a default notice from Lloyds in the paperwork I have here. Does that make a difference?

Do you recall if you ever received one?

Presumably as debt was assigned to the DCA they have paid peanuts for it and now own the debt? Any idea what sort of percentage they would have paid for a £15k debt? Just trying to get my head round what the situation owes them if you see what I mean!

On average, around 10%.

Apparently overdraft comes under different regs so will be difficult to defend. I think on balance this is the right route to take trying to negotiate a settlement rather than risk a monster CCJ which will undo all my recent work!! Fingers crossed!!

Thank you very much.

Sadly that is the case, they don't fall under the CCA in the same way as loans and credit cards since they are not credit agreements as such, thus you can't use the same arguments about lack of a properly executed agreement, etc. you could use with credit products.

[Chauffeurdude]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

I suspect I did receive a default notice but it was a long time ago now!! I know I had various from DCA. At one stage debt was marked as defaulted on my credit file as separate entries by Lloyds and DCA!! Thankfully now off my credit file at last!!!

10% - Good payday for them then if I pay up!! Lets hope they are feeling generous on negotiation then!! Dream on!!

Thank you.

[Celestine]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Where is the AGREEMENT????

I may be able to help you negotiate in this, but I need to know where the agreement and default notice are?

[Amethyst]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

I've double checked all the documents and I don't have agreement or default notice. There is the assignment notice to 1st Credit and statements. Their application witness statement does mention the loan agreement etc is attached to it.

Does the agreement have ALL of the terms attached to it and is is legible?
Is the PPI listed separately?

[Celestine]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

BTW - have unapproved attachments from earlier post as Name was visible xx

[Chauffeurdude]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Thanks for blocking out name. PPI is listed separately to the loan figure. Loan £5000. PPI £1174.00

Not had chance to check much out today as been driving all day. Just got home. Did manage to speak to DCA and discuss my email offer made last night. They have accepted knocking off the interest so debt is back to £15k. Over 7 years means payment of £150.00pcm x 36 months then £200.00pcm x 48 months. This means pay back total of £15k and further interest is frozen. They have agreed to this and sent email with paperwork to sort out Tomlin order if I wish to proceed. I should be able to get back circa £3000 in respect of PPI so may be worth doing. Not ideal but think I may be better to take this offer rather than take my chance in court? I would appreciate peoples opinion on this as I have to lodge the paperwork back with them by Monday to get sorted in time to prevent summary judgement hearing on Friday! I know it means DCA gets a big payday but at least I clear the debt rather than walk away and avoid a ruinous CCJ into the bargain!! Thank you.

[Amethyst]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

That is a better offer than previously, post up the Tomlin when you get it. Is that amount affordable and sustainable? You must do what is right for you, if you get this on a level and keep your credit file clear then I say go for it. I would like to see the agreement though. The overdraft is a big part of the claim and would need settling one way or other so it would only be the loan you could argue on, but the credit file is most important to you I think so sometimes you just have to go with it.

Definitely get started on the reclaim for the mis sold PPI, and once you have that refund, you could renegotiate the Tomlin and use that Sum as a full and final.

[Chauffeurdude]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Having split up with my partner who was the main cause of many of my financial problems I am gradually sorting myself out!! I really don't need a big CCJ against me after all my recent good work!! That is the reason I tried to negotiate. Judging by the phone conversation yesterday there didn't appear to be much room for manoeuvre!! Having offered at £15k by email overnight I wasn't expecting them to bite! I did point out about the interest while claim stayed and they must have allowed for that!! So a result of sorts!! I know I am paying over the odds but don't think I have much choice! Once PPI sorted I will do as you suggest and try to renegotiate!!

As you say I think I was scuppered with the overdraft. I will check the loan agreement and default notices though!

Thank you very much to all for advice offered. Although going to cost me dear it is really a weight off my mind to have some way forward on this problem!!

Regards.

[FlamingParrot]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

Just make sure you are able to afford the monthly repayments in the long term, since it can be very hard to vary the terms of a Tomlin Order once it's made. :thumb:

[Celestine]

Re: Stayed claim now being lifted 3 years later - Summary Judgement?

At the risk of sounding repetitive....

WHERE IS THE AGREEMENT AND DEFAULT NOTICE?????

These can be used (if missing) to leverage a FAR better repayment arrangement.