FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financial Co

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Quick update as I've been going around the houses a bit today.

I went to see citizens advice who showed me where to fill in the court form. Spoke to the ombudsman again today to just double check at when I calculate the interest from. I'm still not sure that I've calculated it correctly though.

I'm writing the Grassroots to inform them that I am applying through the courts for the money to be enforced. I'm not giving them any more notice. Naughty I know but as they've been given plenty of notice to sort this through the ombudsman and myself (I wrote to them personally on 6th June and have had no response) I don't see why I should (also I don't want to risk delaying this any further).

In terms of the interest do I calculate it at 8% divided by 12 (to get the exact months) for each payment as they were obviously made at different times

I'd originally done it at 8% per month but then realised that's wrong (dreams off getting a massive payout dashed lol)

Are you trying to work out section 69 interest ? http://www.legalbeagles.info/forums/...5&d=1225553528 (spreadsheet from http://www.legalbeagles.info/forums/...ffice-versions) should help (or give me the figures and dates etc)

Which court form have you gone with? N244?

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

It's just the N1 form. I was going to do it through Money Claim online but because we're joint claimants I have to fill in the form online.

The interest has been awarded on this amount at a rate of 8% simple per annum, from the date the payment was made to the date of settlement

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Could you tell me what CAB have helped you complete the form in with as you want to be applying for enforcement of FOS award NOT starting a new claim.

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

I have had to download the N1 claim form from the https://www.moneyclaim.gov.uk

I've spoken to the Court as well and they didn't say that I was using the wrong form. Should I be using something else then?

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

I don't know what wording the CAB have given you so long as you are applying for enforcement of the FOS adjudication and not bringing a new claim.

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

It's just a claim form so I'm guessing it is a new claim. I can't find anything to enforce the adjudication

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

You want to ENFORCE the adjudication

If the ombudsman makes a money award in your case, you or your legal representative can:

• draw the court enforcement office’s attention to section 228(5) of FSMA 2000 which provides that the ombudsman’s decision is final and binding;

• draw the court enforcement office’s attention to paragraph 16 in schedule 17 of FSMA 2000, concerning the enforcement of ombudsman money awards; and

in England and Wales ask the County Court to order that the money award be recovered by execution issued from the County Court as if it were payable under an order of that court

So basically the adjudication is binding on the company and the court can enforce just as it does a county court judgment. ie. send bailiffs etc.

Enforcement of money awards

16A money award, including interest, which has been registered in accordance with scheme rules may—

(a)if a county court so orders in England and Wales, be recovered by execution issued from the county court (or otherwise) as if it were payable under an order of that court;

(5)If the complainant notifies the ombudsman that he accepts the determination, it is binding on the respondent and the complainant and final.

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

The ombudsman told me to put that on the Court form so I'm guessing I put that in the particulars of Claim

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Yes, your particulars of claim need to be about enforcing the money award from the ombudsman rather than the issues with grass roots.

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

That's what I was going to put and then I was going to include a copy of the final decision to back up the claim

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

This is what I've put

The Financial Ombudsman directed the Defendants to refund all of the payments that it received from the Claimants with interest, less the payments that were passed to the Claimants' respective creditors and pay an additional £200 for the inconvenience caused. This was issued on 23rd April 2014 (complaint reference 1319-5279). This money has not yet been received and the Defendants are trying their upmost to find excuses not to pay including using the recent application to the Financial Conduct Authority regarding their business.

The Financial Ombudsman has been chasing up the Defendants on behalf of the Claimants since June 3rd and have only had correspondence regarding an FCA ruling and then an admittance that they should pay but only when they have the money in their business account.

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

You haven't put what outcome you want.

They have already been ordered to pay you are (or should be IMO) applying for enforcement. You are entitled to enforce the FOS decision as if it were a judgment from court, so you can go straight to bailiffs if you wish.

EX321

Leaflet titleI Have a Judgment but the Defendant Hasn't Paid - What Do I Do?Download
ex321-eng.pdf (PDF 166KB)
EX322

Leaflet titleHow do I Ask for a Warrant of Control?Download
ex322-eng.pdf (PDF 203KB)

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

are we entitled to more compensation do you think? £200 for 21 months of pain and anguish doesn't seem a lot (especially when we were charged more than that for late payments etc).

Obviously I don't want to push it too much!

[Amethyst]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

I would be quite thankful to get a single penny back that you are owed to be honest off this lot.

Anyway, if this wasn't who it is, then you could discount the FOS ruling and take them to court for the legal issues to be decided upon by the court and to sue them for damages etc, but I wouldn't fancy your chances and it would take a lot longer - and if you won you'd be back at enforcement because they aren't going to send you a cheque voluntarily and really won't give much of a hoot about having a CCJ against the company.

I would apply for a warrant of control based on your FOS adjudication and get bailiffs in asap to recover your money.

[Naptime80]

Re: FCA Requirement Notice: Debt and Claims Limited / GrassRoots Financial – Financia

Sounds like a plan. So I can request that in my application.