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HI, i have a potential claim against my lender/creditor. I will reproduce the draft claim in its entirety. Then i have some questions if anyone can help (i'll follow on my questions in the next post):
PRE ACTION NOTICE OF CONSUMER CREDIT ACT CLAIM
Dear Sir/Madam,
I am writing to you to lay out the facts of my claim against you under the Consumer Credit Act:
My agreement which is regulated under the Consumer Credit Act began on 23rd January 1989. It was an advance of £13,375.69, repayable over 25 years at the Standard Variable rate of interest on a straightforward repayment basis. Account number SPxxxxxxx.
On the 1st January, 1993 my account was modified. It became an “Arranged Repayment Schedule” . It got a start balance of £13,301.75 repayable over 31 years (or 370 months). It was given a new account number, 09xxxxxxxxxxx.
It took me another four years until 1997 to find out quite by chance that my mortgage account had longer to run than I expected or knew about. No one had bothered to inform me. S82 of the Consumer Act sets out the requirements for such variations. S82(1) precludes a unilateral variation of agreement by a firm from taking effect unless notice is given to the debtor or hirer in the prescribed manner.
In doing exactly what the Act prohibits this lends itself to my claim under S140A (1) of the Consumer Act of an Unfair Relationship. To compound matters, when I did find out my agreement had longer to run I was told several times between the period 1997 to 2002 that everything was as it should be and I was mislead and misdirected as to how this had come about as a result of what I had done or had not done. My lack of knowledge of the Consumer Act was preyed on, and I would be paying in effect an extra 10 years mortgage. This dismissal of my concerns has carried on into 2021. And infact nothing has changed since 1993, the agreement is still precluded from taking effect. But I have been paying it to date.
There are other issues with the account since inception, including monthly repayments inconsistent with the interest rate. An incorrectly functioning arrears balance system, posting of annual interest before the close of business etc. These issues are peripheral and maybe superfluous to my claim against you at present, but if you want more detail over them matters I am happy to provide more detail. The above breaches of the Consumer Act are fatal to the agreement and relationship between us, which is still ongoing.
A remedy through the Courts could entail a refund of all monies paid, ie. principal and interest. Or a refund of all interest paid, and may include 8% interest flat. With that in mind if you acknowledge the claim I am prepared to listen to any offer to remedy matters. If you do not acknowledge the claim let me know which facts or part(s) of the claim are disputed.
I would expect a reply within 28 days,
Yours Faithfully,
xxxxx xxxxxx xxxxxxxx.
PRE ACTION NOTICE OF CONSUMER CREDIT ACT CLAIM
Dear Sir/Madam,
I am writing to you to lay out the facts of my claim against you under the Consumer Credit Act:
My agreement which is regulated under the Consumer Credit Act began on 23rd January 1989. It was an advance of £13,375.69, repayable over 25 years at the Standard Variable rate of interest on a straightforward repayment basis. Account number SPxxxxxxx.
On the 1st January, 1993 my account was modified. It became an “Arranged Repayment Schedule” . It got a start balance of £13,301.75 repayable over 31 years (or 370 months). It was given a new account number, 09xxxxxxxxxxx.
It took me another four years until 1997 to find out quite by chance that my mortgage account had longer to run than I expected or knew about. No one had bothered to inform me. S82 of the Consumer Act sets out the requirements for such variations. S82(1) precludes a unilateral variation of agreement by a firm from taking effect unless notice is given to the debtor or hirer in the prescribed manner.
In doing exactly what the Act prohibits this lends itself to my claim under S140A (1) of the Consumer Act of an Unfair Relationship. To compound matters, when I did find out my agreement had longer to run I was told several times between the period 1997 to 2002 that everything was as it should be and I was mislead and misdirected as to how this had come about as a result of what I had done or had not done. My lack of knowledge of the Consumer Act was preyed on, and I would be paying in effect an extra 10 years mortgage. This dismissal of my concerns has carried on into 2021. And infact nothing has changed since 1993, the agreement is still precluded from taking effect. But I have been paying it to date.
There are other issues with the account since inception, including monthly repayments inconsistent with the interest rate. An incorrectly functioning arrears balance system, posting of annual interest before the close of business etc. These issues are peripheral and maybe superfluous to my claim against you at present, but if you want more detail over them matters I am happy to provide more detail. The above breaches of the Consumer Act are fatal to the agreement and relationship between us, which is still ongoing.
A remedy through the Courts could entail a refund of all monies paid, ie. principal and interest. Or a refund of all interest paid, and may include 8% interest flat. With that in mind if you acknowledge the claim I am prepared to listen to any offer to remedy matters. If you do not acknowledge the claim let me know which facts or part(s) of the claim are disputed.
I would expect a reply within 28 days,
Yours Faithfully,
xxxxx xxxxxx xxxxxxxx.
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