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January 10th, 2012
If you answer Yes to one or more of the following questions you may have a claim for PPI refund -
» Lender failed to ask me about any pre-existing medical conditions when I took out a PPI policy
» Lender failed to ask if I was or was shortly due to become self-employed when I took out the PPI policy
» Lender failed to ask if I was retired or very close to retirement ages when I took out the PPI policy
» Lender failed to ask if I was not employed (including student) when I took out the PPI policy
» Lender failed to ask if I was a public services employee when I took out the PPI policy
» Lender failed to ask if I had other protection policies in place when I took out this loan
» Lender failed to advise me that I did not need the PPI policy as I could have repaid the loan/outstanding balance using my savings
» Lender failed told me that the PPI policy was compulsory and not optional
» Lender failed to ask if I was not aware that the PPI policy was optional
» Lender failed advise me that I would get a better interest rate or the PPI would cost much less if I took the PPI policy out with another insurer
» Lender did not make me aware of the cost of the premiums on the PPI policy
» Lender did not make me aware that the PPI policy cost would be added to the loan and I would pay interest on the cost
» Lender did not make me aware that I had taken out the PPI policy when I took out the loan
» Lender did not make me aware that I could purchase alternative PPI policies with other providers when I took out the loan
» Lender did not make me aware that the PPI policy did not cover the life of the loan
Call DebtFC now on 0800 007 5307 or email info@debtfc.co.uk for free advice how to obtain a refund
Tags: medical conditions, Payment Protection Insurance Edinburgh, Payment Protection Insurance Glasgow, payment protection insurance livingston, Payment Protection Insurance Scotland, payment protection insurance west lothian, PPi, PPI Claims, PPI Refund, retired
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September 20th, 2011
The hot issue of mis-sold Payment Protection Insurance seems to have affected Lloyds TSB greatly over the first 6 months of 2011 according to a damning set of figures released by the Financial Ombudsman. Lloyds Banking Group received more than twice as many complaints than any other financial brand from January – June 2011. A huge chunk of the 19,569 complaints (16,965 to be precise) was about Payment Protection Insurance claims from loans, credit cards, mortgages etc.
Claims can be referred to the Financial Ombudsman if cases cannot be resolved amicably between client and creditor. This has resulted in 63% of all cases through FO being awarded in favour of the client. A successful claim usually consists of all payment protection insurance payments being refunded plus interest either direct to the client and/or partially being deducted from the relevant existing account.
DebtFC understands how frustrating it can be to repeatedly spend a large chunk of your time and money on the phone to creditors and feeling like you’re getting nowhere. We are experienced in dealing with PPI claims with numerous creditors whether it’s a loan (secured or unsecured), credit card or a mortgage. DebtFC can take the pressure off by handling all the phone calls, letters and negotiations. We also operate on a no win, no fee basis and there are NO upfront fees.
Call DebtFC now on 0800 007 5307 or email info@debtfc.co.uk for free advice how to obtain a refund.
Tags: loans PPI banks credit cards payment protection insurance complaints debt advice
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January 20th, 2011
If you answer Yes to one or more of the following questions you may have a claim for PPI refund -
- Lender failed to ask me about any pre-existing medical conditions when I took out a PPI policy
- Lender failed to ask if I was or was shortly due to become self-employed when I took out the PPI policy
- Lender failed to ask if I was retired or very close to retirement ages when I took out the PPI policy
- Lender failed to ask if I was not employed (including student) when I took out the PPI policy
- Lender failed to ask if I was a public services employee when I took out the PPI policy
- Lender failed to ask if I had other protection policies in place when I took out this loan
- Lender failed to advise me that I did not need the PPI policy as I could have repaid the loan/outstanding balance using my savings
- Lender failed told me that the PPI policy was compulsory and not optional
- Lender failed to ask if I was not aware that the PPI policy was optional
- Lender failed advise me that I would get a better interest rate or the PPI would cost much less if I took the PPI policy out with another insurer
- Lender did not make me aware of the cost of the premiums on the PPI policy
- Lender did not make me aware that the PPI policy cost would be added to the loan and I would pay interest on the cost
- Lender did not make me aware that I had taken out the PPI policy when I took out the loan
- Lender did not make me aware that I could purchase alternative PPI policies with other providers when I took out the loan
- Lender did not make me aware that the PPI policy did not cover the life of the loan
Call DebtFC now on 0800 007 5307 or email info@debtfc.co.uk for free advice how to obtain a refund
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August 26th, 2010
New research shows that many self employed people are unable to repay their debts.
Companies are reporting that many of the self employed are not in a position to enter into a Debt Management Plan (DMP) and repay their debts as over half of callers had a negative surplus (the difference left over when deducting household expenditure from your income) and therefore no money to start repaying their debts.
DebtFC says that many of the self employed people contacting them are from the service industries such as hairdressing, building trade and taxi driving. Providing services that people are likely to cut back on when tightening their belts, this category of self employed are particularly vulnerable in an economic downturn resulting in many being unable to repay their debts.
While many self employed are struggling with debt, ironically some people are finding self employment to be the solution to their personal debt problems. One woman who had contacted the DebtFC for help and advice with her debt problems because she had lost her job started a small cleaning company which allowed her to earn enough money to enter into a Debt Management Plan and start repaying her debts again.
The credit crunch has resulted in a lot of people carrying out work that they would have previously paid other people to do. This has left many self employed people without work and unable to maintain their debt commitments.
Entering into a Debt Management Plan or Scottish Protected Trust Deed when you are self employed can often be complicated, depending if you are a sole trader or have a limited company or a partnership. It is important that anyone who is self employed and who is struggling financially should contact DebtFC on 0800 007 5307 or email info @debtfc.co.uk for free debt advice and help as soon as they realise they have a problem.
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August 13th, 2010
Use the law to deal with creditors chasing you for old debts.
In Scotland the law relating to the time period that a debt can no longer be pursued in the courts is different from the rest of the UK.
What is a statute barred debt?
Statute barred debts are debts which cannot be legally enforced. The Prescription and Limitation (Scotland) Act 1973, Section 6 limits the timescale which a creditor can take legal action to recover their money to 5 years, provided the following conditions are met:-
There are no outstanding decrees against you, AND
No payments have been made towards the debt for the last 5 years, AND
No written communications with the creditors have taken place acknowledging the debt.
Please note if the debt is in joint names then the above also applies to the joint party.
If these conditions are met then you cannot be taken to court by the creditors. This does not clear the debt so it may appear on your credit file as outstanding.
DebtFC advice on how to handle debt collectors and creditors
If you now believe your debt to be statute barred so what is the next step?
How can you stop the debt collectors from ringing you at all hours? How can you stop their letters?
Find out if there are any decrees made against you. To do this you should contact the three credit reference agencies and check your credit file.
Obtain any information the company has on you through the Data Protection Act 1988. When writing to any finance company about a debt which you suspect is time barred DebtFC advise never to sign the letter.
Write to the creditor stating that under Section 6 of the Prescription and Limitation (Scotland) Act 1973 applies to the debt and it is now time barred.
If the above has not worked and you are still receiving calls from debt collectors or finance companies looking for money then contact your local council’s trading standards department and they should help. West Lothian Trading Standards tel no is 01506 776 410 they are based in Bathgate, West Lothian, Scotland.
Also it is important to keep copies of all letters and send them by recorded delivery.
DebtFC advise that you should never sign any letters? We have been informed that there are a few unscrupulous finance and debt collection companies that have in the past used the signature attached to letters to forged letters from debtors acknowledging the debt!
DebtFC does not have any proof of this but we are letting you know so you can make up your own mind.
When writing to any debt collection company, make sure you head the letter up, “Without Prejudice” or “I do not acknowledge any debt to you or any other company or organisation that you claim to be representing.”
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July 6th, 2010
The OFT has imposed requirements on Mr Nasser Mohammed Yusuf, a Manchester-based credit broker and debt management provider.
The requirements oblige Mr Yusuf, who uses trading names such as Advance Money Management and Loans 4 U, to:
- refund brokerage fees to consumers where no loan has been provided
- comply with the OFT’s Debt Management guidance
- implement adequate complaints handling procedures
The OFT can impose requirements on a credit licensee when it has concerns over a licensee’s business practices or compliance with specific consumer protection legislation.
Failure to comply with requirements can lead to further action by the OFT and the imposition of financial penalties of up to £50,000 per breach.
Nigel Cates, Deputy Director of the OFT’s Consumer Credit Group, said:
“It is important that all companies, especially those dealing with consumers facing financial difficulty, comply fully with the standards expected of them. The OFT will use its powers to ensure that consumers receive a proper standard of customer care and do not suffer detriment as a result of the behaviour of licensed businesses.”
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May 26th, 2010
Beautifully presented 4 beds, detached property with a glass roof conservatory, large private garden with riverside deck overlooking the River Almond for sale in Mid Calder, West Lothian.
http://www.tepilo.com/property/7596/wallace_mill_gardens_eh53/
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May 17th, 2010
When the court document arrives it will have a Form Number, keep a note of it. You MUST complete and return the summons by the date on the form. If you are a customer of DebtFC we will complete this for you.
You are the Defender and the creditor is the Pursuer.
Responding to the court documents
If you agree that you owe the money but you can’t afford to pay in full, apply for a ‘Time to Pay Direction’ by filling in the enclosed form. You admit the debt and offer to pay by installments. Return the form to the court by the specified date.
It is also advisable to include a detailed breakdown of your income and expenditure, as the ‘Time to Pay Direction’ does not allow for a detailed budget to be presented, and also enclose a list of all your creditors. If you are a DebtFC customer we will enclose a detailed income and expenditure for you. If the payment is acceptable to the creditor the Sheriff will grant a decree by installments. If you stick to this agreement, your unsecured creditors cannot take further action. If you miss the deadline, you can still apply for a ‘Time to Pay Order’, but this will be after the Decree has been given.
Defending The Claim
If you want to dispute the claim you need to complete the ‘Deny the Claim – Intention to Appear’ part of the form – stating your reasons for the dispute – and return it to the court.
Follow the instructions on the form and if possible get some legal representation. You must attend the hearing even if you do have a representative.
Ignoring The Summons
This is not advisable. If you do not reply to the summons, the creditor will ask the court to make an order against you. As they do not have your personal details, it is DebtFC experience that the payment they will ask for is usually high.
Post Decree Actions
The Sheriff may grant an Open Decree and set a payment higher than you can afford. At this stage it is important to negotiate directly with the creditor to set an arrangement you can afford each month.
If you do not return the summons or make payments as directed under the ‘Time to Pay Direction’, the creditor can take further enforcement action, by applying for a ‘Charge for Payment’ they can:
Apply for a Wage Arrestment to take payments direct from your salary before you get it. This obviously involves your employer
Apply to freeze your bank account.
Send Sheriffs Officer’s to ‘attach’ your goods outside your home e.g. car, garage or garden shed, or obtain an ‘exceptional attachment order’ which if granted by the Sheriff, would allow entry to your home to allow non-essential goods to be removed.
Or even make you bankrupt.
A creditor CANNOT take the above enforcement action without first obtaining a Decree.
Credit Rating
All court action is noted by the Credit Reference Agencies and this will affect your ability to obtain future credit including mortgages.
More importantly, it may affect your employment – some professions will not employ people with adverse credit histories e.g. Accountancy, Law and Financial Services. Check with your union or Personnel / Human Resource department for the effect on your particular occupation
If your circumstances change, apply for a Time to Pay Order to ask the Court to consider reducing the payment. At this stage it is important to both inform and negotiate directly with the creditor
IT IS IMPORTANT THAT YOU DO NOT IGNORE COURT FORMS AND THAT YOU REPLY TO THE SUMMONS MAKING AN OFFER THAT YOU CAN AFFORD.
Please contact DebtFC on 0800 007 5307 or email info@debtfc.co.uk for free advice and help on all debt problems.
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May 10th, 2010
When you contact DebtFC we will ask you who you owe money to, how much you owe, and if your debt is a credit card debt, a loan agreement, hire purchase, catalogue, store card, payday loan, overdraft, cheque centre etc
A DebtFC consultant will ask you about your monthly income and how much you pay each month towards your mortgage or rent, gas, electricity, telephone, mobile, council tax, insurance, car, public transport, food, clothing etc
We will ask you if you are a homeowner or a tenant as this may make a difference to the debt solution we may offer you.
Please do:
When speaking to any of your creditors, (people who you owe money to), make sure you note any reference numbers and amounts owing.
Keep any statements and letters demanding payment from your creditors, this will make it easier for us to assess your situation and allow us to contact your creditors on your behalf.
If any creditors take action against you, such as petitioning for your bankruptcy or threaten you by sending the bailiff round, contact DebtFC as soon as possible.
Please don’t:
Don’t bury your head in the sand and think your problems will go away if you do nothing about them – they won’t they will only get worse.
Ignore any legal proceedings.
Let your health and family relationships suffer.
Borrow more money.
Pay any upfront fees for advice or loans.
For free advice on any debt problem please contact DebtFC on 0800 007 5307 or email info@debtfc.co.uk
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April 26th, 2010
Scottish Protected Trust Deed (PTD)
- You can be debt free in 36 months
- Only pay what you can realistically afford
- Freeze interest and charges
- We can stop all further communication & action from creditors towards you
A Trust Deed is a solution to debt and a real alternative to Sequestration (Bankruptcy in Scotland). A Scottish Protected Trust Deed often known as a PTD is an arrangement between you and your creditors, usually over three years. At the end of a Trust Deed the balance of any unpaid debts is written off.
Under legislation, once protected a Trust Deed is legally binding on all your unsecured creditors. The terms of your Trust Deed are tailored to your own personal circumstances.
DebtFC will assess your situation and prepare your proposals and deal with your creditors. If your creditors do not object, the Trust Deed will become protected – that means your creditors are prevented from taking any further action as long as you keep to the agreement and you’ll be debt free, this is usually in 36 months. Call our debthelpline now on 0800 007 5307 or email info@debtfc.co.uk
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