Unregulated loan complaint process

[Sparkie1723]

Re: Unregulated loan complaint process

Hay206,
If you talk to idem ...ask if the call is being recorded if it is ask for a copy of the recording.....you are entitled to it............if they say they do not record their calls ............don't talk to them ..........write to them and get everything in writing.
Sparkie

[Hay206]

Re: Unregulated loan complaint process

just spoke to Idem and they have said that they appreciate my complaint but again as they were not involved in the sale they are unable to comment. It does amaze me as the points raised are fact and backed up by there lending policy, mortgage value at the time and valuation.
Anyway they have made an offer to freeze all interest on the loan which will reduce the term by about 7 years. They also suggested I could speak to the citizens advice too.

not sure if I should accept this and leave it be as I think any legal action will end up costing me. I can also wait until the changes to the unregulated loans is completed next year.

i just think that they have only made this offer as they know there are concerns with the loan and the way it was sold.

I would like to know what you think, thanks.

[Hay206]

Re: Unregulated loan complaint process

Can advice please? Anyone??

[Unregistered]

Re: Unregulated loan complaint process

Hi, I have a picture loan and it's currently being investigated by the cca. My loan from picture was also given a loan much greater than what my house was valued at and it too my house into negative value. Any suggestions what the process of from the cca as it says I have to wait 30 days to get an answer on what's going on and could be entitled to some sort of refund?

[Anglais]

Re: Unregulated loan complaint process

We had. Lon with Picture also like many others no we sympathise with you all. Idem Capital Securities T/A Idem Servicimg are complete parasites.
We have been fighting these for ever and will continue to the death.

We have since found out searching the FCA register and discovered that Idem Capital Securities T/A Idem Servicimg do NOT have permissions to collect debt because the application for an Interim Permission has lapsed since September 2015. I spoke with the FCA yesterday and they told me that as long as the long falls under Consumer Credit then it will be regulated by the FCA and should there be any irregularities then the FCA needs to know which I plan to do today.

We have also found out that when the loan was transferred from Picture to Idem Capital Securities T/A Idem Servicing the TR4 form signed by the executioner and witness, it seems that the executioner signed the witness name as well as his own which in my view is fraud. We have had it confirmed by a handwriting expert that the handwriting in their professional opinion is the same of that of the executioner so I ask you who ever had. lol with picture please ply to HMLR and request a copy of the TR4 form and. Certified copy of your title also held at HMLR. We received this along with a q0 page spreadsheet with hundreds of names and addresses of all of those people that loans were transferred from picture to Idem Capital Securitiea T/A Idem Servicing.

We are still investigating and a long way to go but we need as many people to get together and bring these parasites to their knees.

Thanks for reading.

[Unregistered]

Re: Unregulated loan complaint process

Hi I have a picture loan which was sold to idem and we are in the process of trying to sell our property I just want to know where I stand as the loan doesn't appear to have decreased at all we have always paid the loan regardless of our situation and have done for the last 10 years the loan was only over 25 years and we still appear to owe the same amount we have never had any statements from any of the companies.

[Screen13]

Re: Unregulated loan complaint process

Hi I have a picture loan now Idem and would like to know what the above means for me, I have never missed a payment but the loan seems to be the same as when we started and we have been payin it for 10 years and it was only over 25 thanks

[dal2008]

Re: Unregulated loan complaint process

Hi all,


I am new to the site.


I stupidly took out a Picture Loan in Sept 2007. the loan amount was for 25000, Picture added 5000 PPI to the total loan so the loan amount was 30,000. I found this out after and in discussion with FCSC regarding this....


Some months I have paid £500 with the hope of paying less interest but the interest was still £210 a month.


Account is not in arrears so I am not sure if Idem will agree to freeze interest. Now that would be helpful. Someone above mentioned that IDEM agreed to freeze interest, did you send a template letter?


In terms of being mis-sold I have researched and some of the below might be valid. I would love to know if any other people who have had a Picture Loan have any valid input or feedback


1) I was not informed that the 5000 would be added to the loan and I would be paying 25 years of interest on it!


2) loan is variable but even though the bank rate is 0.5 this 2nd mortgage loan hasn't decreased (unlike my Halifax Mortgage)...


3) My lack of financial knowledge was used to take advantage of me. I should have been advised to discuss my debt issue with StepChange and setup a Debt Management Plan instead I was encourage to consolidate.


4) The total amount repayable was never made clear, with my mortgage I received a key facts document


5) with my unsecured debt I am in a DMP with StepChange and fortunately the companies involved have frozen interest and charges. Stepchange are unable to assist with this loan because its secure


6) I discussed the issue of the interest rate being variable and never going down with Idem, they said there are unable to assist because initial company has gone bankrupt but Idem do regularly review???


7) I spoke to FOS and they are unable to help. FSCS can only deal with the PPI not the entire loan


8) Citizens advice have informed me that I may be able to discuss mis representation act but it should have been done within 6 years.


I am at a lost but very angry and annoyed that I got myself in this situation


I am alot wiser and smarter now and would never make the same mistake.


Any help or advice is very much appreciated.

[Sickofbullies]

I am about to challenge Together i.e Blemain ie. Lancashire Mortgage Co in court for unregulated excessive charges-if ANYONE HAS ANY ADVICE IT WOULD BE MUCH APPRECIATED.

[veryannoyed]

I am about to challenge Together i.e Blemain ie. Lancashire Mortgage Co in court for unregulated excessive charges-if ANYONE HAS ANY ADVICE IT WOULD BE MUCH APPRECIATED.

If you post up your agreement with personal details and a/c number redacted I can compare with my agreement and see if anything stands out. Was your agreement actually signed by the Lender.

[Muller21pfg]

Here are many kinds of fees associated with borrowing money. Any fee that you’re charged for borrowing money through a loan or credit card, that isn’t the interest rate, is considered a loan fee. Before taking a loan you must speak with your bank or loan company coz every finance organization has overdraft fees, fees, and prepayment fees. For example https://www.paydayloanamerica.com has the instruction how to calculate the fees . They divide the interest by the amount that is borrowed. They multiply this number by 365. Then, they divide that number by the loan’s term length and multiply the last number by 100 .

[Sickofbullies]

They still have to be reasonable and reasonably incurred.