Lehman,SPML & Capstone

[grimbell]

Re: Lehman,SPML & Capstone

Well yesterday I got a letter from Crapstones saying that as i have not responded to their correspondence about my arrears (yet another different figure!) they are very kindly going to send a debt counsellor to visit me at the cost of £92.

I have written a letter of complaint and enclosed a copy of my last letter to them. I have also given them the reference no for the complaint with the FOS and suggested they contact them. Also reminded them again of the OFT guidelines and accused them of harrassment.

No doubt some plonker will be on the phone first thing tomorrow!

The following link was posted otr so I think they are having a few problems at the moment.
Lehman Brothers UK mortgage book in fire sale - 6 January 2009

Thought I might offer them 50p in the £1 to leave them lol

[grimbell]

Re: Lehman,SPML & Capstone

Hi all

Yesterday I got another letter from a different dept answering the letter I sent telling them I was not happy with the outcome of their investigation and I had filed a complaint with the FOS.

They say their decision stand but if I can send bank statements to show which payments I think have been made and not applied they will look at it again! Doesn't even say which ones they consider to be the ones that went unpaid!

It says they have up to 8 weeks to reply and I can go to the FOS within 6 months........bit late for that already done.

They really are a complete shambles.

[scoobydoo]

I would write back to them -

As you know I have already filed a complaint with the FOS about your handling of the serious matter of my account being in arrears.As far as I am concerned I can not check my bank statements to dispute or agree your arrears figure unless you provide me with a full breakdown of the alleged arrears.


As far as I am concerned the onus is on you to provide me with a comprehensive statement of how you consider my account to be in arrears. I need to know for each month you feel there is underpaid or missed a payment ,the figure due and the figure received.

Then and only then will I be able to check my bank statement and provide you with the evidence you are requesting from me.

This is a serious matter that could be affecting my credit rating and the security of my home. I have no problem in co-operating with you in this matter once I have agreed figure ( which by the way keep changing). I also need a full list and explanation of any other fees and charges that have been applied to my account and justification for such fees , I assume these charges /fees will only affect the capital debt and not the arrears figure and I would be grateful if you would confirm this in your letter. Also I would appreciate a list of any interest changes if applicable and the dates they were implimented.

I will send a copy of this letter to the FOS caseworker to show that I am giving you every effort to answer my complaints as I assure you I am as anxious as you to come to some conclusion of this problem.

[grimbell]

Re: Lehman,SPML & Capstone

HI ALL

On re-reading the last letter I found that they actually said that they had not received Jan 07 payment.

Anyway I wrote a letter stating all that scooby said and enclosed a statement showing the Jan payment having been paid.

Tonight I received a phone call demanding over £800 payment for my outstanding arrears!
I told the woman the alleged arrears were in dispute and a letter had been sent last week.

She said the complaint had been closed and I needed to pay. Anyway was on phone for about half an hour as she would not accept my explanation that as they kept giving me different dates that payments had been missed I was not going to pay until thoroughly investigated and proven without any doubt.

At one point she tried to tell me the arrears were from Oct 08 and when I said not all payments were up to date and no missed or late payments over the last 16months she said it was un unpaid dd from Dec 06 that had been returned by the bank in Oct 08!

She did not what I was talking about when I said they were failing to abide by the FSA arrears guidelines and the OFT debt collection guidelines, in fact I dont think she knew what the FSA and OFT were!

When I asked which securitization package my mortgage had been put in she REALLY didn't know what I was on about and became very agitated and tried to end the call.

She insisted I owed money and they would continue to call and write untill I paid so I said that's fine because it was all being logged and passed to the FOS but could she make sure that who ever called got their facts straight first.

I am going to do another letter to the FOS and ask if they can look at this sooner rather than later and pass on copies of the letters and call received.

These people really are a joke.

[grimbell]

Re: Lehman,SPML & Capstone

Another call today!

The amount owed now is £5 more than on the 12th! I again explained that unless they can state exactly where the non payments have arisen from I am not going to make a payment. The girl could not locate the arrears and passed me to the woman who has been dealing with my complaint.

She says the statement I sent on the 5th was not enough they want the full months statements. Apparently their bank took 2 years to pick up the returned payment but they cannot do a trace and therefore it is down to me to provide the evidence to proove that my payments were made! She wants me to provide proof of all the payments I feel have been made and not applied. I said how can I do this if they are not making it clear which ones have not been paid. She reckons they have made it clear!

I questioned their statements and the fact that there are silly amounts such as 26p being debited but she said it would not show such amounts unless it was to do with an adjustment of interest so I said well if it does not state that clearly then that means the statement does not make sense.

We went round the houses and eventually she said the arrears stand at £615 so I pointed out that this does not tally with any monthly payments she then tried to say that it must be due to part payment from some time last year but as I said to her all my payments have been made in full and on time for the last 17 months so she then said she would do a manual statement and perhaps I should go to CAB to get them to explain them to me!

I pointed out that I understood that charges etc should not be added to the arrears amount but she insisted that that was the correct way and as the FSA would have it done.
I again said that until the FOS have investigated that I considered the alleged arrears to be in dispute and they were wrong to keep harrasing me for payment of them but apparently my writing to them and giving them the reference number from the FOS was not enough and until the FOS actually contacted them they would continue pressing for payment and adding charges.

[goldenghosty]

Re: Lehman,SPML & Capstone

My partner and I have had an SPML mortgage for 6 years that is managed by Capstone.

We had problems from the start with their fees and statements as well as adding on insurance we didn't ask for despite showing them we had our own. After falling into arrears through their charges we ended up in court and it was rubber stamped as a suspended repossession. The judge didn't care a hoot about the circumstances and that we'd already agreed to pay £50 per month off the arrears and had kept to that.

A mix up with the DD charges with our bank blaming SPML and vice -versa we were being charged over £65 in arrears management fees plus interest and other sundries.

After 2 years we have finally won with Ombudsman ruling that they can't justify their charges and haven't provided a breakdown of them. They appealed but the final stage upheld the ruling. We were awarded £300 compensation and for ALL the charges to be refunded and the account put right including interest. Without the charges they would never have gained a suspended repossession order in the first place so the compensation doesn't even cover our costs and they also took us to court by 'mistake' under an eviction order! And laughed when they explained the error on the telephone. They have also lost all of our original document that relate to mortgage and the broker that mis sold it to us in the first place.

We are waiting to see just what SPML will do because every statement is different and they can't understand the figures themselves
when they are when asked.

I'd say they were a joke but it's not a laughing matter when they hold the roof over your head and act like the Mafia with extortionate demands.


GG

[goldenghosty]

Re: Lehman,SPML & Capstone

Grimbell,

I also had calls mid last year to say I owed odd amounts of money from January that didn't add up. At first they said it was 3 missed payments and then it came down to one and that even they didn't understand it .

None of the statements add up either but now, when they take off all the charges and interest they should be owing me. The original arrears were around £2500 plus legal fees and including fees charged. 4 years later that should be at least £2400 paid off and if they refund all the fees and interest we should be in credit as we paid some of these off instead of having them on the mortgage and charged at 11% + at it's highest and tried to pay off more than the court ordered. As a rough estimate I think we have overpaid on the mortgage by £1700 and no doubt they will fix the figures to add that as a charge as well.

Despite the FOS result they have still continued to add charges and threaten us despite pointing out to them that they can't and can no longer apply them or do anything until they sort the account out in full.

It took us 2 years to get a result from the FOS but they have had complaints about them in the past and SPML acknowledged that in their appeal and admitted they had failings but passed the buck by saying the consumer was aware of the charges and increasing their fees was part of the contract and to be expected to cover their rising costs.

[grimbell]

Re: Lehman,SPML & Capstone

Hi

Thanks for that goldenghosty that makes me feel better knowing that it is not just me.

today I got a letter from Crapstone to say that they have had a letter from the FOS re my complaint and so that all communication will now be via the FOS.
At least the daily phone calls will now stop.

When did you get the FOS ruling? Have you got back to the FOS and told them that SPML have failed to correct everything?

[goldenghosty]

Re: Lehman,SPML & Capstone

Hi Grimbell,

I had a final decision on the 28th January this year and are still waiting for a response from Capstone and the FOS. It's taken 2 years to get this far and even when it was passed over to the FOS the harrassment didn't let up during that time. So I guess I just have to wait and see how and when they correct the account

Part of the complaint was that they took a DD 3 days before it was due but as we didn't suffer financial loss it wasn't upheld. Well it did as I had to transfer money to cover other payments and if I hadn't have checked my balance I would have had charges put on for failed DDs'. I had to miss other payments and make calls to sort the mess out and when a date is agreed you make sure funds are there and shouldn't have to guess when they will take it . Time is money for us as well as them but it's also something I have to take up with Lloyds as they shouldn't have paid them.

As a quote from the letter I have,

'With regard to the arrears management fees, I have seen nothing from SPML to satisfy me that those charges are fair or reasonable in the circumstances, or that they represent the true actual cost to SPML of administering arrears on this particular account. SPML was aware that the suspended repossession order was on the basis of current instalment plus £50 per month, so I am satisfied that it was unreasonable for SPML to agree to these terms of suspension and then add £50 or £65 per month to the account by way of management fees. i do not consider this was fair in the circumstances.

My Decision

SPML is required to:

- Refund in full arrears management and unpaid direct debit fees to the account.

- Recalulate the account on the basis of the payments made, as if those fees (and interest accrued on them) had not been imposed.

-Pay compensation of £300 for SPML's administrative errors.'

The Ombudsman says that SPML are fully aware of the problems which also affects other customers and SPML cannot justify the charges. Well as they won't give a table of charges to the Ombudsman or justification for the fees then what else could they conclude?

If you need anything else then I'm happy to help.

[grimbell]

Re: Lehman,SPML & Capstone

hi all

Well the postman has just bought a letter from Crapstone telling me that as I have arrears of over £1200 (not true this months payment was paid yesterday) and unless I can pay it within 7 days their solicitors will be instructed, at considerable cost to me to go for re-possession!

I am going to phone the fos and see what they say.

[grimbell]

Re: Lehman,SPML & Capstone

Have just had a call back from FOS who have spoken to Crapstone.

Crapstone have said this is a letter that is sent on a 3 monthly basis if you have arrears and was sent before this months payment was made so threat will not be carried out. So good of them.


They said they were aware that I have an agreement to pay by the 10th .......so why send threats on the 4th!

They also said they will continue to chase the arrears and the FOS said if i can pay then I should to stop Crapstone calling but if my complaint is upheld I will get them back!

Anyway I have had another statement that doesn't make sense and have dug up some very interesting info on the securitised mortgage market so am making copies of everything and seding to the FOS.

[scoobydoo]

Re: Lehman,SPML & Capstone

Did the FOS give you any idea of how long it will take them to come to a conclusion?

[grimbell]

Re: Lehman,SPML & Capstone

Hi

No they didn't but I will ask in the letter I am doing.

I have another mortgage complaint with my old mortgage company for charges that is being dealt with now and that took 18 months!

[grimbell]

Re: Lehman,SPML & Capstone

Hi all
My claim is being dealt with now which is great and much quicker than I thought and have just had a call from them.

The man that phoned is struggling to make sense of all the paperwork but so far he has got Crapstone to agree to removing all the arrears management fees plus £75 for inconvenience and distress (a total of £450)

He is still chasing the alleged arrears as he agrees that he cannot see any and my spreadsheet of payments made does not tally with theirs ie. mine shows I have paid more than they say.

He is going through the file in full again which he said "may take me a week or so" and will be in touch again.

So far so good.

[righty]

Re: Lehman,SPML & Capstone

Breaking News courtesy of CAG member I'm the Bad Guy

IMPORTANT NOTICE

Quote] As of today, Companies House (compliance team) has begun its prosecution of the last remaining director of SMPL and PML-Ms Amany Attia. This has been confirmed by Mr Kevin Hughes(Compliance Manager) of CH. The prosecution will be for failing to deliver accounts, under the Companies Act 1985.

They have also been informed, that it is my belief (with evidence) that SMPL is balance sheet insolvent, and 'trading' insolvently.

SUCH THAT, I WOULD URGE ANYBODY FACING REPOSSESSION OR OTHERWISE, TO NOW MAKE A FORMAL COMPLAINT TO THE DTI.
Link is:

http://www.insolvency.gov.uk/complaintformcib.htm


This IS YOUR complaint, against any Lehmans lender, which the Companies Investigation Branch(CIB) of the DTI, has a duty to investigate.


THE MORE COMPLAINTS WE CAN SEND THEM RIGHT NOW, THE STRONGER OUR CASE WILL BE, THAT THESE LENDERS HAVE NO RIGHT TO TAKE LEGAL ACTION AGAINST US, BECAUSE OF ITS INSOLVENCY. THIS IS NOW OUR REAL CHANCE TO EXPOSE AND STOP REPOSSESSIONS.


As a guide, I have shown below some typical answers you can make for this online complaint. These are edited answers, and you can add or subtract to them, as you choose:

1 & 2 your details.

Who have you dealt with in the company:
I have used the name of Mr John Bentham(manager) of Capstone, as I dealt with this *%!*^!* directly.
PUT the name of your own contact at SPML/Capstone if have one.

If there are other individuals connected to the company with whom you have dealt please give their names and role they play within the company in the box below: add or edit
"Ms AMANY ATTIA, now sole director of SOUTHERN PACIFIC MORTGAGE LTD(SPML). Please note, Capstone Mortgage Services Ltd(Capstone), are the third party administrators of SPML. As of today, I have been informed by Mr Kevin Hughes(Companies House-compliance Team), that the sole director is now under prosecution for the failing to return 2 years of accounts(Companies Act 1985)."



under 3 :
(a) "I have absolute proof, from written evidence, that SPML is both balance sheet and trading insolvent. The last director, Ms Amany Attia, is now being prosecuted by Companies House, for failing to act in the role of director in providing 2 years of accounts. This can be confirmed by Mr Kevin Hughes, of the Compliance Team-Companies House. SPML, was a mortgage provider, and has no employees, has ceased trading, 1 director(under prosecution), and falsely claimed it is 'trading' at the same registered address as Capstone.
Furthermore, SPML has actively been conducting property repossessions through the courts as SPML, where it has so been in 'wrongful trading'. The courts and general public, are completely unaware of this, except Companies House. I believe this case is of great importance and in the national interest, as families are being evicted from their homes, by effectively a bankrupt company."

(b) "SPML last accounts 2006, and sale of mortgage books.
Letter from Companies House on prosecution of director.
Evidence that SPML sold all its mortgages through securitisation, and is no longer the owner of them.
SPML is nothing more than a 'shell', whose sole director is facing prosecution and is in 'wrongful trading'.
Please contact me directly, for the evidence you require, to prevent the illegal activities of SPML."


If you have any questions, put them up on the board, and pass the word to everyone to file their online complaint to CIB.

Can anyone who does this, post up the reply 'SHUT'EM DOWN'
Also:
Anyone with London Mortgage Company(LMC) or Southern Pacific Personal Loans Ltd(SPPL), please see below

SPML bought all the mortgage assets from Matlock Bank Ltd/ta London Mortgage Company(LMC) on 2nd May 2006. On the 31st May 2006, SPML sold all the LMC mortgage assets to Southern Pacific Funding 5(an UNlimited company). The entire shares of SPF5, is held by Lehman Bros Holding Inc(USA). Anybody with an LMC mortgage has been paying into this 'private fund', through Capstone, and ultimately to a bankrupt company.

CH have confirmed today, both these companies have NO directors, such that dissolution requests have been posted out to them. Anybody facing an action by these, should directly contact CH, as these entities have no call to do so. They have no representatives within the companies, and could constitute fraudulent activity.] unquote