Endeavour secure loan dated 2005

[cleaningwindows]

I approached the FSO re a dispute i have with Endeavour, they advised as my loan is 50k and it was obtained in 2005 it is not regulated and they cannot assist with the dispute.

What process is there for me, what does this mean in terms of secuirty that i am a deregulated customer.

Dispute is this, i owe arrears, sent out to their sols, litigation team agreed on phone nil percent intrest for life time of loan, then they changed there minds and disputed the conversation. REason for stating as they did as im a bankrupt and have a SPO in favour of the first charge, and massive equity so if they did repossess they would get nothing as there is nothing to give them.

Any help really appreciated.

[Brian]

Re: Endeavour secure loan dated 2005

Hey CW. Sure someone will come along to pitch in here, couple of questions to move this on:

I can confirm that a 2005 50K loan would be unregulated in the eyes of the law.

Are you now discharged from BR?
If the house has negative equity (sizable?) than you are nigh on fire proof from a repo point of view as their is no logical point at all for a repo order being granted based on the situation, no one will gain anything for obvious reasons.

Bri

[di30]

Re: Endeavour secure loan dated 2005

Hello there

I had a loan with these back in 2004, and unfortunately it was April 2007 I believe they became regulated under the FSA. I do have that letter here somewhere.

I'm sure someone will be along soon with the advice you require, but just for curiosity did you also have Payment Protection Insurance (PPI) with this loan?
And have you ever made a successful claim for unemployment/sickness with them etc?

If you have arrears and you also still paying for PPI and your under a payment plan, have they also included the ppi in within the outstanding balance?

[cleaningwindows]

Re: Endeavour secure loan dated 2005

Thanks.

Im not even considering repossession because i think in time ie several years we will ride this storm and i like my house, for the same it would be more to rent and i can also normally pay for it, just hard times got me into arrears, but they have never pursued court action, prob because they know they will get nowt ,
what they agreed to do as a undischarged bankrupt is drop the percentage to nil for the life of the loan then changed there minds. It was all by phone conversation with their litigation team , they never ever respond to letters in writing well some 6 months later maybe.

PPI cant go for it yet as a undischarged, but i dont think i ever had it , im actually in the process of writing to everyone i had finance with to check.

I had a very secure job with massive benefit payments should i have become sick etc ie paid in full for 12 months so always thought it was a waste of money. and good payout if i lost the job.

I then left that job as hated the manager and went freelance so the last four years have been self employed, i think even if i had a PPI because i chose to leave that employment i wouldnt have been paid out.

[cleaningwindows]

Re: Endeavour secure loan dated 2005

Hey CW. Sure someone will come along to pitch in here, couple of questions to move this on:

I can confirm that a 2005 50K loan would be unregulated in the eyes of the law.

Are you now discharged from BR?
If the house has negative equity (sizable?) than you are nigh on fire proof from a repo point of view as their is no logical point at all for a repo order being granted based on the situation, no one will gain anything for obvious reasons.

Bri

Thanks Bri so are you saying they would never go for repossession whilst massive negative equity , because if they did there is not a single penny for them in todays climate.

I dont really want to take that chance as logic and the county court judge dont go hand in hand , the judge is only intrested in can you pay or not, if you say not he gives possession which would actually go to the first charge.
If i said yes and he gave a suspended order in line with the Norgan case law for the arrears they would still get the spo and could still on a non payment execute a baliff warrant and evict me.

My experience sadly has been really bad with the courts , ive actually been literally laughed out of court when i have defended applicaitons for CCJ and CO's
i really do think im bankrupt because of the court process which i found was really poor a couple of years ago.

Creditor would not work with me at all- prob because i had had a good income.