Over £149 million to be repaid by lenders ref CCA failings post contractual info

[Guest]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Slightly off topic. I have just received a letter from the receivers involved in the closure of Dean Financial, we had loan with them which was paid off in 2008, apparently there are irregularities in the prescribed terms on some of the agreements and there has been a case. Bradley Say is involved. they have included the judgement. I will start a new thread.

Does anyone else get the feeling that some of these firms are trying to get their house in order before April.

[Nibbler]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

I think the FCA have put the wind up a fair few at least.

[Amethyst]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

About bloody time someone with some teeth kept these companies in order (no massive offence meant to the OFT as they have had some half decent results but no where near enough actual action on companies for ignoring the rules and law)

Interested to see the judgment Bradley Say is involved in.

[winner12]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Well its all over the news about the CO OP
The thing is though it states they made a mistake by not repossing homes instead putting homeowners into forbearance or in otherwords ripping them off anyway at a time when they should of helped them more is not the answer I do hope these people get their money back it sounds like its should be a hefty sum but I bet it wont be

[ncf355]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

And,

If we add to this that some people will (as stated above) incorrectly had their counts defaulted annd reported as so to the CRA's

Then add a hopefully positive result to Richard's case on Wednesday=a possible 'perfect storm' for the banks

[di30]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

And the ones sold on, fully assigned as absolute, the refund should realistically be paid to the customers.

[di30]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Wasnt the banks to write/contact the OFT by today (deadline) in regards of this issue?

[dogtired]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Getting more and more interesting!
Three with HBOS .
The other Barclays.
Only one still in dispute and they certainly did not comply with data requests statements etc.
This has done the rounds of different DCA and is now with Arrow Global / Wescot.
Has been back with FOS and she wants to talk to me about it this week, wonder if its about this issue, will let you know.Barclays also did not comply but do I contact them or wait

[di30]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

With it being Barclays, they were aware of this some time ago and you've not heard anything yet, maybe an email to ask when are they going to start the ball rolling on this one won't hurt x

[di30]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

One of my default notices from 2009, what are your thoughts on this one please? thanks x

[dogtired]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Will have to view on PC Di.

[EXC]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

This little snippet from today's Financial Times about Co-op:

''As well as new provisions for mis-selling loan insurance, the bank also blamed its decrepit IT systems, which for years have miscalculated the number of days in a year. Customers have not been overcharged as a result, but their statements have breached the consumer credit act and the Co-op must now refund interest.''

[enaid]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

This little snippet from today's Financial Times about Co-op:

''As well as new provisions for mis-selling loan insurance, the bank also blamed its decrepit IT systems, which for years have miscalculated the number of days in a year. Customers have not been overcharged as a result, but their statements have breached the consumer credit act and the Co-op must now refund interest.''

Chuffin ell I bet everyones divvy is short paid too pmsl

[ncf355]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Is this issue likely to apply to overdrafts then?

(Where it's an agreed overdraft)

[Guest]

Re: Over £149 million to be repaid by lenders ref CCA failings post contractual info

Is this issue likely to apply to overdrafts then?

(Where it's an agreed overdraft)

No sadly the sanction is excluded for current account overdrafts.