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securitisation consumercredit agreement non disclosure affecting my rights help
Hi there
I hope someone can help me with a real problem I just cant seem to get my head around. I have a loan with a company called SPPL originally my lender (who i thought was my lender) this company has now changed to eurosail still part of same company and my loan is being serviced by what was once capstone but has now rebranded to acenden.Are you following me I hope so it is complicated??
I recently got into arrears and asked acenden to capitalise my arrears and i was told this option was not open to me on my account and neither was any other loan modification which could help me.
I asked why this was and they would not go into detail just repeated thatthe option was not open to me.
I have had a complaint open with the fso and they couldnt get the answer out of them either. I feel so out in the cold and no were to turn. this can not be right surely??
After a lot of digging i find out that when i got my loan the same day i signed the agreement it was securitised without my knowledge. The process of securitisation and the involvement of other contracts with third parties appears to restrict my rights and remedies although this was not disclosed to me when i signed the agreement. otherwise i would not have signed it.
Because I have read lots of stuff on unfair contracts etc and it says that under the consumer credit act that and on the oft website the rules state that an agreement should not restrict the rights and remedies of the borrower.
I want to take this company to court and state that my rights and remedies have been restricted therefore not allowing the company to capitalise the arrears because of the securitisation covenents to which i was totally unaware.
Can someone tell me if and how i can do this thankyou al help will be greatly appreciated thank you again Madmaria43:tinysmile_hmm_t2:
I hope someone can help me with a real problem I just cant seem to get my head around. I have a loan with a company called SPPL originally my lender (who i thought was my lender) this company has now changed to eurosail still part of same company and my loan is being serviced by what was once capstone but has now rebranded to acenden.Are you following me I hope so it is complicated??
I recently got into arrears and asked acenden to capitalise my arrears and i was told this option was not open to me on my account and neither was any other loan modification which could help me.
I asked why this was and they would not go into detail just repeated thatthe option was not open to me.
I have had a complaint open with the fso and they couldnt get the answer out of them either. I feel so out in the cold and no were to turn. this can not be right surely??
After a lot of digging i find out that when i got my loan the same day i signed the agreement it was securitised without my knowledge. The process of securitisation and the involvement of other contracts with third parties appears to restrict my rights and remedies although this was not disclosed to me when i signed the agreement. otherwise i would not have signed it.
Because I have read lots of stuff on unfair contracts etc and it says that under the consumer credit act that and on the oft website the rules state that an agreement should not restrict the rights and remedies of the borrower.
I want to take this company to court and state that my rights and remedies have been restricted therefore not allowing the company to capitalise the arrears because of the securitisation covenents to which i was totally unaware.
Can someone tell me if and how i can do this thankyou al help will be greatly appreciated thank you again Madmaria43:tinysmile_hmm_t2:
