Mr Lender trebled my outstanding balance with interest. HELP!

[lelu19uk]

Afternoon all,

Any advice would be appreciated.

I took out a loan with Mr Lender on 15th June 2012. I asked them for to supply my CCA agreement in writing (they sent an email) i told them this email is not acceptable. I downloaded the documents anyway (just to have a look) and everything seems to be in the CCA aggreement.

I also asked them to provide me with a breakdown of charges of the account and the default notice. I will upload the charges below. I think they are unlawful. can someone tell me if that are and how i can claim them back? I was given no notification of the short hand auth code.

Date	Type	Details	Auth Code	Debit	Credit	Balance
15-Jun-12 07:10	InitialLoan	Capital		£450.00		£450.00
15-Jun-12 07:10	InitialFee	Same Day Fee			£10.00	£440.00
15-Jun-12 08:31	InitialFee	Admin Fee			£7.00	£433.00
15-Jun-12 10:31	InitialFee	Total Fees		£17.00		£450.00
15-Jun-12 10:31	Interest	Interest		£135.00		£585.00
17-Jul-12 09:12	Fee	Failed Card Fee		£20.00		£605.00
18-Jul-12 09:22	Fee	Letter Fee		£20.00		£625.00
23-Jul-12 09:27	Fee	Letter Fee		£20.00		£645.00
29-Aug-12 15:56	Payment	Interest Pay	BT-DMA-AUG		£3.85	£641.15
28-Sep-12 10:56	Payment	Interest Pay	BT-DMA SEP		£4.60	£636.55
05-Dec-12 10:37	Interest	Interest		£172.96		£809.51
05-Dec-12 10:37	Interest	Interest		£224.85		£1,034.36
28-Dec-12 13:07	Payment	Interest Pay	BT-DMA DEC		£4.67	£1,029.69
28-Feb-13 09:37	Payment	Interest Pay	CHQ-DMA FEB		£1.00	£1,028.69
28-Feb-13 09:37	Interest	Interest-jan		£290.61		£1,319.30

I have to add that when they added the final lot of interest (28/2/2013) was 37 minutes after they signed for the CCA request letter. Coincidence dont you think?


They also included a copy of the default which looks very strange. It is also states on it dated the date of email.....well the email date is 23/03/2013 (the date hasn't even occured yet!). However on my credit file it was defaulted on the 15/07/2012. The date of issue.

(MY NAME) (REF NUMBER) Default Notice

Date of notice: As per this email.

Leanne, Credit Agreement reference number: ********

This notice is being given to you as required by the Consumer Credit Act 1974 because we have charged you the following default sums under your agreement with us. Description of charge,

Amount Late Fee, £20
Letter Fee, £20
Collection Fee, £20

Total: £60
Please contact us on 0208-532-5024 in order to discuss the state of your agreement.

This Notice does not take account of default sums which we have already told you about in another default sum notice, whether or not those sums remain unpaid.

Interest

We are not entitled to charge you interest on the default sums for the first 28 days after we have given you this notice. However if the sum is not paid in full by that date interest will be charged at the rate of 30% per month.

Signed (NAME) Head of collections.

Any help would be great.
Thanx Lx

[IanM]

Re: Mr Lender trebled my outstanding balance with interest. HELP!

At first glance it would seem you are being robbed blind.

Take a closer look at the breakdown you have provided above.

£135 interest on the same day as the initial £450 issued has to be illegal!

Adding the interest onto the outstanding balance and then charging interest on the new balance has to be illegal!

Taking £17 same day fee and admin fee and then adding it back onto the balance......

Adding 2 lots of interest on the same day, 5th December, £172.96 and £224.85, and adding it to the balance......

[alham]

Re: Mr Lender trebled my outstanding balance with interest. HELP!

At first glance it would seem you are being robbed blind.

Take a closer look at the breakdown you have provided above.

£135 interest on the same day as the initial £450 issued has to be illegal!

Adding the interest onto the outstanding balance and then charging interest on the new balance has to be illegal! Also two letter fees charged

Taking £17 same day fee and admin fee and then adding it back onto the balance......

Adding 2 lots of interest on the same day, 5th December, £172.96 and £224.85, and adding it to the balance......

IanM is spot on. Their maths makes no sense at all. Also, two letter fees over 5 day period?

[lelu19uk]

Re: Mr Lender trebled my outstanding balance with interest. HELP!

Thank you for your quick reply,

I know thats what i thought. I was wondering is it worth me sending them a SAR request but i dont know whether it would tell me any different to what they have already sent me? How do i go about disputing what they have done. I am willing to pay them as i do owe the payday loan (i havent told them this). I wont be paying them until they have taken the extortionate interest off and removed the default as the default letter is fake and isnt an original true default.

I am just lost as how to do this

Regards
Lx

[lelu19uk]

Re: Mr Lender trebled my outstanding balance with interest. HELP!

Here is a copy of the CCA i thought it might help.

Althought i dont see how it can be used as proof i signed an agreement when the charges and repayment date doesnt match.

I really do appreciate any help or advice given, these people wont listen to reason.

Regards
Lx



removed attachment as personal details left on

[CleverClogs]

Re: Mr Lender trebled my outstanding balance with interest. HELP!

Here is a copy of the CCA i thought it might help.

Parts of it are amusing. For example:

4. Subject to the requirements of the Consumer Credit Act 1974, we will be entitled to demand that you repay the whole of the balance due under this agreement if any of the following events occur:4.5 you die.

Of course, that is nonsense - sections 86 (link) and 87 (link) mean that may only be done by order of a court.

Other parts are not amusing, but equally wrong:

If we have to serve you with a default notice we will charge you a fee of £20.

Balls.

See s86E(6) - link - of the Consumer Credit Act 1974:

6. The debtor or hirer shall have no liability to pay any sum in connection with the preparation or the giving to him of the notice under this section.