CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

[zhanzhibar]

Back in 01/03/06, I took a loan with HSBC for £15k. Having looked again at the copy of the agreement, I now realised that I also signed for a personal loan protetion plan loan for £5150. Is personal loan protection plan= PPI? I am not sure. What I am quite sure is that at the time, I wasn't allowed to take that loan without the personal protection loan. In total I owed £20,150 and with interest of 10.9% total amount payable is £30,288.

I have been paying off the loan as per the agreement till 2 years ago when I wrote to them to ask if they freeze the interest & I am paying them less than the agreed amount which they agreed. End of last year my OH decided he had enough and want out so I was struggling a bit with 2 small children and can't afford to pay HSBC the small amount we agreed as there are other secured loan (mortgage) took priority.

I received a claimed form (dated 06/06/12) from HSBC under CL Finance taking me to court over the sum of £13,846. I would like to admit to part of the debt but not the PPI so am now trying to put together a part defense. Having said that I am not sure what to put in that defense apart from there's a PPI in this loan and its illegal. I actually do not know how much of that £13,846 is PPI & how much of it is the original loan? So even if I want to part admit what do I put in the amount that I admit to? In that case should I put an acknowledgement of service to defend part of the claim or the whole of the claim and make a counterclaim of PPI against the claimant? So in the end I put in acknowledgement that I want to defend all of it. I just don't know what to do. Time is running out on me to prepare my defence now.

Here is my loan agreement (which also include the personal loan protection plan loan). Would appreciate if someone coudl tell me how to prepare a defence based on the PPI

http://i270.photobucket.com/albums/j...Loan-pg1-1.jpg

http://i270.photobucket.com/albums/j...C-Loan-pg2.jpg

http://i270.photobucket.com/albums/j...C-Loan-pg3.jpg

http://i270.photobucket.com/albums/j...C-Loan-pg4.jpg


http://i270.photobucket.com/albums/j...C-Loan-pg5.jpg


Furthermore this is my N1 form, it was sent without any backing or documentation.

http://i270.photobucket.com/albums/j...CClaim-1-1.jpg


I would really appreciate some advice as to preparing the defense. As it is now the 2nd of July I have not got much time left.

Thanks

Zhanzhibar

[miliitant]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

give me 10 minutes

I CAN HELP BUT WHY HAVE YOU LEFT IT SO LONG

HAVE YOU ACKNOWLEDGED SERVICE YET

YOU ONLY HAD 14 DAYS AS SUCH THEN A FURTHER 14 DAYS TO DO A DEFENCE

[zhanzhibar]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

Hi miliitant,

Thanks you soo much for willing to help. I know i have left it a bit late but I was so snowed under at work (& still am) when I received the claim as well as caring for a 7 & a 5 year old. Don't even have time to do research on PPI.

I did however acknowledge the claim. As I don't know how much of that £13k is PPI and how much of it is loan, I acknowledged that I am defending it all. Should I do that? I just don't know.

But thank you so much again. Just knowing somebody is willing to help has reduced my stress level.

Zhan

[miliitant]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

when did you acknowledge the claim and

was the loan done in THE HSBC branch, on the phone, or on the internet

[zhanzhibar]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

I acknowledged the claim on 20/06/2012 via the website moneyclaim

I think the loan was done at HSBC branch. ( I think)

[zhanzhibar]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

I did try to look (when I have a couple of min to spare) on the PPI forum for people with similar issue hoping that I could learn a bit more & then applied it to my case but so far I have not seen anybody yet being taken to court over loan which have a PPI loan in it as well.

[Turboman]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

pm'd di & Bill for you--(as in other thread-my speciality is sums--Di got a broader view-as Bill too)

[miliitant]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

i will knock up a defence for you
you will have to send cohen a part 18 request for documents as it it to late to do a cpr 31.14
ill do a quick draft as well

i am not that good with figures due to poor eye sight

i need a whiz kid on figures, is peter barred still about

so if we can get the ppi misselling, that a reduction of £5150, interest £2591.28. that gives a reduction of £7741.28off the balance just on the ppi issue

cancelation clause on the agreement

i see that it states you cannot cancel the agreement under the cca 1974, timeshare act 1992, or the financial services distant marketing regulations 2004

i am ofay with this on vehicle finance on non canceable agreements but CAN BANKS LEGALLY APPLY THAT CLAUSE on personal loans in bank branches

they are trying to use the "signed on trade preemiese angle" so cannot cancel

i have them on not doing a statement of means or price, let alone a policy document on the insurance crap

but before any defence can be done
i need the figures checked out

[zhanzhibar]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

Sorry for being a bit slow but what is part 18 that I need to send to Cohen?

[miliitant]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

Sorry for being a bit slow but what is part 18 that I need to send to Cohen?

i will sort that out for you, it is getting in the defence that is the priority

[zhanzhibar]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

I took this from the calc that Turboman did for me about an hour ago on the same thread but in PPI forum;

Bill--they add up ok--on the claim form---send me our ss btw for this case re the £7200 so i can check it

"Originally Posted by Bill-K"
It may well be "De Minimis," but the N1 hasn't been signed by hand, and the claim figures don't add up.

....DavyB ?

As regards the PPI, if this has been mis-sold - which looks likely - then I estimate that approx. £7,200 is due to be refunded to you, plus a reduction in the monthly repayment to approx. £235.

Zhanzihibar--firstly remove attachment 3 from both posts 3 and 4 as your account number is showing

Secondly--if you are being taken to court for £13,846 -
- then as the ratios of your PPI to Total Loan is around 25.6% ish-(5,150:20,150)
-then (ignoring minor admin fees not given) then it breaks down into -
-Original Cash Advance Loan= £10,301.42 & PPI Loan of £3,544.58

see here--
http://www.legalbeagles.info/forums/...c-Spreadsheets
The thing to remember is that on your loan the

• Loan Amounts
• The Premiums
• The Outstanding Balance

are always in the ratios 25.64% PPI & 74.4% Cash Advance Loan

"Originally Posted by zhanzhibar"
Hi all,

As I do not know how much exactly is the loan and how much is the PPI, I have put on the acknowledgement on the internet that I am defending all of the claim.

Davyb

How do I go about putting the case that the agreemnent is unenforceable?

[zhanzhibar]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

According to Turboman's calculation, looks like the original loan that I still owe them is £10k. What do I do then since I already acknowledge that I am defending all of it?

[miliitant]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

patience

all will be revealed

do you know how much you have paid in repayments so far

[zhanzhibar]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

Don't know to be honest. I don't think I receive any statement since CL finance being assigned the debt.

[miliitant]

Re: CL Finance taking me to court over loan (ex-HSBC) which has PPI- how to defend?

phone cohen up in the morning and send the solicitors by email as well

ask if they would consent to an extension under cpr 15.5

Get them to agree to 28 days in writing (fax or email) and tell the court. They might umm ahh and refuse however when you tell them they are in breach of practice direction 22 3.10 and that you will make an application to court they'll have costs to pay when they lose the hearing, they'll be a bit more co-operative.

thanks mystery1

update your thread on this ASAP

TIME IS NOT ON OUR SIDE