Repossession hearing whilst ongoing FOS complaint is in place, please help?

[redrose281]

Hi everyone,

I was badly advised by my bank regarding an investment which turned out to be a scam and I lost a great deal of money and ended up with a large overdraft and a huge mortgage as a result, (as I paid back friends who had also invested) the bank told me they`d checked out the investment and it was sound, and actively encouraged me to run up a large overdraft which when the deal went wrong, in reality, all they wanted was the considerable funds depositing in their bank and were prepared to do or say whatever they needed to in order to get my agreement to do this and their file notes which I now have, prove this!

They secured the overdraft on my property via an `all monies charge`, I had no idea what this meant until recently when they are trying to get possession of the whole of my property, (house, land and buildings with permission to convert to residential), I am unable to raise capital due to the fact I cannot afford any further repayments to anyone.

I complained to the FOS about my bank and the bank told them that `due to the passage of time`, they didn`t have many of the necessary documents and so in the absence of substantial proof of what I was saying, the FOS ruled against me, and so the bank started repossession proceedings against myself, I submitted a defence and counter claim, (which was done by my then barrister) and the judge agreed I had a valid defence and that the matter should go to trial.

As part of the banks disclosure, I was astounded to receive many of the documents the bank had told the FOS they didn`t have `due to the passage of time`, I therefore complained to the FOS again on December 5th 2014, at the end of December I still hadn`t heard anything from the FOS so telephoned them and they told me they`d sent out an acknowledgement letter on 11th December which I hadn`t received so they e-mailed it to me.

As I hadn`t heard any more from the FOS by 10th January, I rang them again and they told me that I hadn`t sent them my banks `final response` letter, I thought the fact i`d submitted one previously and the fact they were taking me to court was sufficient, but they said no, as I`d added a further two complaints wherein my bank had discussed my personal and private financial situation with two third parties without my permission, that I needed to submit a further `final response` letter, and that I should contact the bank and ask them for a final response letter and also a stay in current proceedings.

I therefore wrote to the bank and they replied from one of their representatives in India, calling me a liar basically and saying they didn`t believe my claims and that they were continuing with their repossession proceedings and wouldn`t agree to a stay in proceedings.

I sent their letter to the FOS and they have written back saying they have received my letter and it has been put with my file for review and will be dealt with in date order :/ Which really isn`t much help for the repossession hearing for the end of next week!

I have been told now that I should complete an N244 form, requesting for a stay in proceedings until the FOS investigation is completed, I spoke to the court and they told me to keep details on the form brief, and therein lies another of my problems as I have been treated so badly by the bank I could waffle on forever, could anyone give me any advice on this situation and how I could word the detail on the N244 form please?

The hearing is scheduled for the end of next week and so it now looks like I`m doing everything at the last minute when in reality, it is almost two months since I contacted the FOS, long before I got the trial date, and I just don`t want the judge to think i`m trying to put matters off as I believe I have valid cause for complaint, and also believe I should have the benefit of an FOS investigation before having to spend a fortune to go to court as the FOS rarely look at a case once it has been to court.

I no longer have a legal representative as I simply cannot afford one as this whole farce has cost me £200,000 and financially ruined me :tinysmile_cry_t: Please can anyone help or advise me? Thank you

[nemesis45]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Hi Welcome,

Please format your post it's too difficult to read in this form.

nem

[Sparkie1723]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Read Spindler and Verity v Lloyds Bank .....Lloyds had to rely on an out of Court settlement on a very very similar issue:tinysmile_twink_t2:
Sparkie
See below they had to fight real hard though.


A couple who successfully sued Lloyds Bank for negligence after a failed property development lost them money claimed yesterday to have won the final round of a seven-year legal battle. Julia Verity and Richard Spindler, who made legal history when the High Court ruled against Lloyds two years ago, said yesterday they had settled out of court a counter-claim by the bank.
The couple, an acupuncturist and teacher who already owned two houses when they took out a mortgage at the height of the late 1980s property boom, were awarded pounds 77,500 damages in September 1995. The court ruled Lloyds had been negligent in advising them to buy a third property with a view to renovating it just before the housing market crashed.
They then faced bankruptcy six months later when, in a separate case, Lloyds was successful in a counter-claim against the couple to recover pounds 104,000, after they had failed to service the debt on the investment property. The award included the outstanding loan on the property and other business and personal loans they had taken out with Lloyds.
The settlement announced yesterday followed an appeal by the couple against the counter-claim on the basis that the original pounds 77,500 award had been incorrectly calculated. Specifically, they said, it did not take into account a loss incurred by the couple when they sold one of their two existing properties to help pay their losses.
They said yesterday: "The overall effect of the two High Court judgments was that we owed the bank more money despite having proved that the bank's advice was negligent."
The settlement is understood to have drawn a line under the remaining debt owed by the couple to Lloyds. They said yesterday: "We are very glad and relieved that it is all over. It has been a long, arduous and perilous journey through the legal process."
Lloyds Bank, which admitted it was constrained in what it could say about the case because of client confidentiality agreements, said: "We are very glad Mr Spindler and Mrs Verity have dropped their appeal and agreed to an out-of-court settlement. The bank has always made strenuous efforts to reach an out-of-court settlement with the couple."
Mr Spindler, 38, and Mrs Verity, 57, are now understood to be living together in Henley-on-Thames but to have decided to separate. In a joint statement, they added: "It is nine years since the negligent advice and our lives have been totally disrupted by being in such insurmountable debt."
When the first award was made against Lloyds there was speculation it would open a floodgate of claims against banks from people who had taken a gamble on the housing market only to see their investments turn sour as prices fell.

[redrose281]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Hi Welcome,

Please format your post it's too difficult to read in this form.

nem

I'm really sorry nemesis, how do I do that please? Xx

[redrose281]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Read Spindler and Verity v Lloyds Bank .....Lloyds had to rely on an out of Court settlement on a very very similar issue:tinysmile_twink_t2:
Sparkie
See below they had to fight real hard though.


A couple who successfully sued Lloyds Bank for negligence after a failed property development lost them money claimed yesterday to have won the final round of a seven-year legal battle. Julia Verity and Richard Spindler, who made legal history when the High Court ruled against Lloyds two years ago, said yesterday they had settled out of court a counter-claim by the bank.
The couple, an acupuncturist and teacher who already owned two houses when they took out a mortgage at the height of the late 1980s property boom, were awarded pounds 77,500 damages in September 1995. The court ruled Lloyds had been negligent in advising them to buy a third property with a view to renovating it just before the housing market crashed.
They then faced bankruptcy six months later when, in a separate case, Lloyds was successful in a counter-claim against the couple to recover pounds 104,000, after they had failed to service the debt on the investment property. The award included the outstanding loan on the property and other business and personal loans they had taken out with Lloyds.
The settlement announced yesterday followed an appeal by the couple against the counter-claim on the basis that the original pounds 77,500 award had been incorrectly calculated. Specifically, they said, it did not take into account a loss incurred by the couple when they sold one of their two existing properties to help pay their losses.
They said yesterday: "The overall effect of the two High Court judgments was that we owed the bank more money despite having proved that the bank's advice was negligent."
The settlement is understood to have drawn a line under the remaining debt owed by the couple to Lloyds. They said yesterday: "We are very glad and relieved that it is all over. It has been a long, arduous and perilous journey through the legal process."
Lloyds Bank, which admitted it was constrained in what it could say about the case because of client confidentiality agreements, said: "We are very glad Mr Spindler and Mrs Verity have dropped their appeal and agreed to an out-of-court settlement. The bank has always made strenuous efforts to reach an out-of-court settlement with the couple."
Mr Spindler, 38, and Mrs Verity, 57, are now understood to be living together in Henley-on-Thames but to have decided to separate. In a joint statement, they added: "It is nine years since the negligent advice and our lives have been totally disrupted by being in such insurmountable debt."
When the first award was made against Lloyds there was speculation it would open a floodgate of claims against banks from people who had taken a gamble on the housing market only to see their investments turn sour as prices fell.

Thank you very much Sparkie1723;512871 that is very helpful :-) xx

[Crazy council]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

how much are

1 the orrigional debt
2. Value of house and propertys

and as much details as possible

[nemesis45]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

No problem " Edit Post " bottom of the thread right hand side.

[redrose281]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

nemesis45, is my posting ok now please? Not exactly sure what you meant by `format` my posting :/ sorry xx

[redrose281]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Given my original posting, could anyone please suggest how I should word the detail on the form N244 that I have to submit on Monday morning please? I was told by the Court to keep the detail brief, as well as my ongoing complaints to the FOS, I`d like to request more time to be able to call as witnesses, two of the Bank employees who I hold responsible for this whole mess, (but whom I haven`t been able to track down yet!), as I feel it`s only right and fair in the interest of justice, that as well as the bank having free licence to cross examine me for almost two hours, that I should be able to cross examine these two employees as I now have proof of their negligence/irresponsible lending and lack of background checks on my investment, (despite telling me they`d checked it out and it was sound!), please how do I word it without waffling on and on (as I have a tendency to do), and get my points across without coming over as a `know it all` and antagonising the judge! The two bank employees left shortly after all of my trouble, (did they jump or were they pushed...I think the latter!), and the bank steadfastly refuse to help me call them as witnesses and all they have presented up to now is a Hearsay witness statement from an employee in India whom until I received his statement, I`d never heard of , let alone had any dealings with! :/ Thank you for any help, it will be much appreciated. xx

[redrose281]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

how much are

1 the orrigional debt
2. Value of house and propertys

and as much details as possible

Original debt was £32000.00, value of house and property combined is £550,000.00 but I have a £200000 mortgage as a result of this whole mess and cannot afford payments on anything larger, in fact I`m struggling at this level :/ Thank you for your help and apologies for not replying sooner but our power has been down due to the high winds :/

[Fred]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Given my original posting, could anyone please suggest how I should word the detail on the form N244 that I have to submit on Monday morning please? I was told by the Court to keep the detail brief, as well as my ongoing complaints to the FOS, I`d like to request more time to be able to call as witnesses, two of the Bank employees who I hold responsible for this whole mess, (but whom I haven`t been able to track down yet!), as I feel it`s only right and fair in the interest of justice, that as well as the bank having free licence to cross examine me for almost two hours, that I should be able to cross examine these two employees as I now have proof of their negligence/irresponsible lending and lack of background checks on my investment, (despite telling me they`d checked it out and it was sound!), please how do I word it without waffling on and on (as I have a tendency to do), and get my points across without coming over as a `know it all` and antagonising the judge! The two bank employees left shortly after all of my trouble, (did they jump or were they pushed...I think the latter!), and the bank steadfastly refuse to help me call them as witnesses and all they have presented up to now is a Hearsay witness statement from an employee in India whom until I received his statement, I`d never heard of , let alone had any dealings with! :/ Thank you for any help, it will be much appreciated. xx

Have you asked the FOS for or if they are able to "fast track" your complaint given the potential hearing/s ?

We’ll always let you know what’s happening. And if your situation’s urgent – for example, if you’re seriously ill or in financial difficulties – we’ll try our best to help. (FOS quote) ;

http://www.financial-ombudsman.org.uk/publications/consumer-leaflet.htm#f

[redrose281]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Thank you Fred...The FOS are aware of the urgency and I emailed the lady I've been dealing with again on Thursday and she wrote back and acknowledged my email but said they are dealt with in date order so my emails have been put with my file 'ready for review', when they reach that date, whatever that means :/ I really do feel totally on my own in this :-(

The Pre trial bundle arrived today from the banks solicitors, along with the 500 word Case Summary as ordered by the judge, the order also said the to parties should attempt to agree the trial bundle and the case summary before the trial but I haven't even been given that option as they have just been sent out it hour my even having seen them, let alone agreed them :-(

Xx

[nemesis45]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Responding to PM.

Hi, it would help to see the case summary.

This has been sent so you can read and comments on the summary.
Does the case summary appear to be an accurate picture of the case
so far?

[redrose281]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

Thank you Nemesis:-

This is the Case Summary:-

1. The Claimant is seeking possession of the Defendants property at ___________________________. (the "Property") due to the Defendants failure and/or refusal to pay the sums owed to the Claimant pursuant to a Legal Mortgage dated _______ (the "Mortgage) (pages 109-120 of the Bundle)
2. The Mortgage secures he liabilities of the First Defendant pursuant to a loan facility on terms set out in the facility letter dated ______________ )the "LOan") (pages 103 to 188 of the Bundle). The Mortgage is of an "all monies" nature and all sums secured under the terms of the Mortgage are repayable in full on demand.
3. On _________________, the Claimant made formal demand on the First Defendant for all monies due and outstanding pursuant to the Loan (pages 191-193 of the Bundle), By letters dated _________ and __________ the Claimants then solicitors gave the Defendants notice that the monies secured by the Mortgage had not been paid and that the Claimant was therefore entitled to enforce the Mortgage (pages 208 and 231-232 of the Bundle respectively).
4. The parties were unable to reach mutually acceptable proposals for repayment of the debt. Possession proceedings were therefore issued on _____________ (pages 5 - 12 of the Bundle)
5. The First Defendant filed a Defence and Counterclaim on _____________ (pages 22-32 of the Bundle).
6. The Second Defendant has not reponded to the claim and has played no part in this action and has been barred from defending the claim pursuant to the Order dated __________
7. The Claimant and the First Defendant have complied with the directions to date. Mr ____________, a Recovery Manager for the Claimant has provided a Witness Statement on behalf of the Claimant (pages 43 -53 of the Bundle), however, he cannot be called as a witness to give oral evidence because he is based in the Claimants offices in India. A Hearsay Notice has been filed and served. The First Defendant has filed a Witness Statement and will be available to give oral evidence (pages 75 to 77 of the Bundle).
8. The issues to be addressed are as follows:
Defence
8.1 Whether the Pre-Action Protocol for Possession Claims (the "protocol") applies, and if so, whether the Claimant complied with the protocol.
8.2 Whether the Mortgage is unenforceable due to the fact the Claimant did not provide advice to the First Defendant as to the nature of the Mortgage.
8.3 Whether the Claimant is entitled to enter the possession of the Property and enter a monetary judgement against the First Defendant for the amount outstanding in respsect of the Loan, together with interest and costs, or whether the First Defendant is entitled to set -off the sums counterclaimed below.
Counterclaim
8.4 Whether the Part 20 Claimants counterclaim is statute -barred by reason of section 2 and or section 14A of the Limitation Act 1980
8.5 Whether the Part 20 Defendants employee _____________. made any negligent misrepresentations which induced the Part 20 Claimant to purchase credit protection insurance in relation to a personal loan agreed betweeen the parties on or about March 2003.
8.6 Whether the Part 20 Defendant acted negligently or made and negligent misrepresentations to the Part 20 Claimant in respect of the American bank account.
8.7 Whether the Part 20 Defendants employee, ____________, made any negligent misrepresentations to the Part 20 Claimant that the Part 20 Claimant would not be required to make any repayments under the Loan until such time as part of the Property was sold if she agreed to provide the Mortgage.
8.8 Whether the Part 20 Claimant is entitled to the following:
8.9 Recission of the contract; and
8.10 repayment of all charges and interest paid (including sums paid to the credit insurance policy) and interest on those sums; or alternatively
8.11 damages for misrepresentation and interest.

I really feel that the FOS should investigate all of my complaints BEFORE any further action is taken in Court, given the evidence i now hold against the bank and additionally, I would like to call the two ex bank employees as witnesses. I have to fill in the N22 Form today for it to be in Court for 9am in the morning, please can anyone help me?

[nemesis45]

Re: Repossession hearing whilst ongoing FOS complaint is in place, please help?

N244 app to stop possession: Are you solely relying on the ongoing FOS "inquiry/investigation" ?
And/ OR the alleged mis- selling?

nem