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Response to Repossession/ Loan from London North Securities

from M Amos (idgroms@hotmail.com)
Monica,

Sounds like legalized robbery to me. I have spoken to a NACAB solicitor about this and he said the following:

"This is not unusual I am afraid.

The amount claimed is so high almost certainly because of default interest and charges.

The possession order is valid - it doesn't matter that it was not mentioned that contractual interest would continue to accrue.

Someone needs to check out the agreement. It is regulated by the Consumer Credit Act and has to comply with all the CCA formalities. There is a possibility that it doesn't comply and as a result, may be unenforceable. If this is the case, application can be made to set aside the possession order. I would be happy to look at the agreement but obviously need to see a copy.

It is definitely worth having the agreement looked at."

Monica, If you wish to contact the solicitor just email me and let me know. Good Luck whatever you decide.

Mark.

(posted 7213 days ago)

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