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Decided it was time to file my claim after attempting to get the regulators to do their job. Over 5 years the FOS, the OFT, the PHSO, the ICO and the CMA have all considered disclosure of information that would assist me in identifying whether I have been wronged. They have colluded to ensure information that would answer my contentions straight away is not shared, even under the stringent EA241A disclosure legislation. Shocking doesn't quite do this charade justice.
Anyhow as the published accounts clearly show that the only increased costs incurred by the bank are PPI related, e.g. introducer commissions (69% of total income at inception), whilst everything else, e.g. interest expense & operating costs have plummeted, my claim is a pretty simple one.
What costs havebeen incurred by the lender, above and beyond those in place at loaninception, that legitimately explain why our loan liability (Capitalplus Interest) over the course of 25 years should be increased.
The loan book was sold to Elderbridge Ltd in January and neither would admit it was their responsibility to defend the claim at LBA stage - so I've filed against both - let the court decide.
I've asked for the claim to be considered under, but not limited to, the CCA 140 Unfair Relationships.
I've included the summary discussions that were disclosed recently disclosed http://legalbeagles.info/forums/show...ight=firstplus as this spells out the OFT's initial thoughts, i.e. that it was an unfair relationshipbut then failed to progress that point, and included a brief summary of the accounts over the last 10 years showing the shift in the income activity. Note - only legitimate costs that have an effect on my loan can be passed on to my APR.
My claim here is for fairness, not to avoid my liability, it always has been, always will be. The bottom line is I'm being made to pay extra due to the banks failed business model which was built in PPI.
Fingers crossed that I get a decent judge. I've requested, as a minimum, removal of the excess liability, unless legitimate costs are identified.
Anyhow as the published accounts clearly show that the only increased costs incurred by the bank are PPI related, e.g. introducer commissions (69% of total income at inception), whilst everything else, e.g. interest expense & operating costs have plummeted, my claim is a pretty simple one.
What costs havebeen incurred by the lender, above and beyond those in place at loaninception, that legitimately explain why our loan liability (Capitalplus Interest) over the course of 25 years should be increased.
The loan book was sold to Elderbridge Ltd in January and neither would admit it was their responsibility to defend the claim at LBA stage - so I've filed against both - let the court decide.
I've asked for the claim to be considered under, but not limited to, the CCA 140 Unfair Relationships.
I've included the summary discussions that were disclosed recently disclosed http://legalbeagles.info/forums/show...ight=firstplus as this spells out the OFT's initial thoughts, i.e. that it was an unfair relationshipbut then failed to progress that point, and included a brief summary of the accounts over the last 10 years showing the shift in the income activity. Note - only legitimate costs that have an effect on my loan can be passed on to my APR.
My claim here is for fairness, not to avoid my liability, it always has been, always will be. The bottom line is I'm being made to pay extra due to the banks failed business model which was built in PPI.
Fingers crossed that I get a decent judge. I've requested, as a minimum, removal of the excess liability, unless legitimate costs are identified.
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