Bournes Debt Solutions

If you have accessed sub-prime secured lending via a broker, it is not unreasonable to suspect that the broker may have received commissions from your mortgage provider in addition to any fees you may have paid.  These are sometimes known as ‘finders’ or ‘procuration’ fees.

Where commissions have been paid to your broker without your knowledge or consent, the commission is secret and is treated by the law as a bribe, tainting the whole agreement.

You have a right to be clearly informed of any commissions paid and given details of the amount involved, and this should have been done in a way that made it clear to you that you were being asked to consent to it.

Where these commissions are identified, you will have a range of remedies against both the broker (the recipient of the bribe) and the lender (the payer of the bribe):

• You can recover the amount of the bribe
• You can recover damages for fraud to the extent of any actual losses incurred by entering the fraudulent transaction
• You can avoid the agreement by electing to rescind it providing that you can repay the principal sum borrowed.

If you suspect that a secret commission has been paid, the Bournes debt advisors are on hand to assist you in making a claim against your mortgage provider and broker.

You can contact an advisor by completing the online enquiry form or by calling us direct on 0845 845 0140.

There is a lot of talk at the moment about unenforceable credit card agreements between the periods of 2003 to 2007.  Some of you may already have had your credit agreements written-off, but at what cost?

Whilst you may have succeed in getting a creditor to back down and agree not to pursue a credit card debt, this does not prevent the creditor from pursuing the debt within the limitation period once there is some positive case law in their favour. Need we mention the Rankine case?!

So let’s consider what would happen if the creditors were successful in persuading the courts that their agreements were enforceable.  In the majority of cases the creditors agree ‘not to pursue’ the debt, no mention is made to write-off or freeze interest and charges.  Consequently, debtors who thought they had cleared their debts could well find themselves with very hefty bills for backdated charges.

The fact is you may have won the battle but not the war.

Don’t get us wrong, we’re not saying you shouldn’t argue your case, we’re simply advising that you seek specialist debt advice.

Bournes Debt Solutions offer a wide range of debt advice across the UK. We have specialist staff in Nottingham, Newcastle, Durham, South Shields, Manchester, Oldham, Stockport and London. You can contact us using the enquiry form on our website, or by calling us direct on 0845 845 0140.

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If you come across this company you will see that they have copied the contents of our website pages. Bournes Debt Solutions are not affiliated to this company in any way.

First Step Legal also runs under the name of Licit Legal Limited and Swift Sure. Licit Legal Limited has recently gone into liquidation after complaints had been issued to the Ministry of Justice and other regulatory bodies for fraud. Anyone who is owed money by this company can contact the MD, Adrian Whitehurst on 07790 906783 or 0161 443 0290. Alternatively, you can email Adrian at: aw@walkaway.org.uk

If you have been contacted by this company claiming they can write off your debts, then we strongly advise that you read the blogs written by Licit Legal’s clients, which can be found on various consumer action group websites.

Bournes offer a selection of debt advice with a free initial consultation. For more information on County Court Judgments, charging orders, basic bank accounts, consumer credit agreements or debt management plans then please see our main Bournes Debt Solutions website or call us on 0845 845 0140.

Bournes Debt Solutions has successfully set aside a County Court Judgment for its client whose home was at risk of having a Charging Order secured on it, after the bank took him to court to recover a £2,500 bank overdraft.

Mr M from Wellingborough, Northamptonshire, got into financial difficulties following a divorce in 2006. His former wife had been using the bank account without his knowledge and had run up a debt of over £2,500. The bank sought to reclaim the debt by obtaining a county court judgment against Mr M. The bank had obtained a Forthwith judgment and then proceeded to secure the Order on the home by way of a Charging Order. This meant that the home would be at risk if payments were not maintained in accordance with the Court Order.

At the time the County Court claim had been issued, Mr M had been out of the country and was not aware of the judgment until he received an interim charging order. An application was submitted to set aside the judgment and the case was transferred to his local County Court. The bank was put under strict proof of the debt and after failing to produce any documents to support their claim, the judgment was set aside. This means the judgment no longer exists. The debt has since been removed from Mr M’s credit file with the Credit Referencing Agencies.

Michelle Gilbourne, managing director of Bournes Debt Solutions, said: “The bank account was a joint account and there was no evidence that Mr M had used the account himself, despite being a joint account holder. The bank was unable to produce any documents to support their claim and we’re delighted with the outcome of the hearing.

“This is unfortunately just the tip of the iceberg. There are potentially hundreds of people out there who have received County Court Judgments for debts that are either unenforceable or were nothing to do with them. If the basic checks are done from the very beginning, County Court Judgment can be prevented! Not one of our clients has had a County Court Judgment issued against them since signing up with us.”

Bournes offer a selection of debt advice with a free initial consultation. For more information on County Court Judgments, charging orders, basic bank accounts, consumer credit agreements or debt management plans then please see our main Bournes Debt Solutions website or call us on 0845 845 0140.

At Bournes Debt Solutions it has been a really busy period. We are proud to announce that we are now able to offer our services in several more cities across the North East and North West of the UK.

We have specialist debt advice agents available in the following areas:

Nottingham
Newcastle
Durham
South Shields
Manchester
Oldham
Stockport

Our agents can offer debt advice on many financial areas including charging orders, County Court judgements, basic bank accounts, consumer credit agreements, credit card debt, bank overdrafts, personal loans, gambling debts, mortgage debt and hire purchase repayment.

Selecting a debt advice agency is a big decision, so you will want to be certain that you’re choosing the right firm to give you professional legal help and advice. You will be reassured to know that if you are looking for debt specialists in your area, you need look no further than Bournes Debt Solutions.

Our debt management plan is a six stage process which is designed to give our advisors a full understanding of your current financial situation. After they have assessed your needs they will be able to create a debt management plan to suit your requirements.

Our Consultants can often be with you within 24 hours of receiving your telephone call. You can contact Bournes Debt Solutions by completing the online enquiry form or by calling us direct on 0845 845 0140

As you have probably heard on the news, today is day one of the OFT/Banks test case on Penalty charges.  Initially the case was to be held in the High Court, but it has recently been announced that the case is now to be held at the International Dispute Resolution Centre at 70 Fleet Street, London EC4Y1EU.  We can only assume that the reason for this is to cut down on media attention.

For anyone wishing to attend the hearing, there are only 11 places available and entry will be on a first come first serve basis.  We understand passes will be issued separately for morning and afternoon sessions and will be split equally between the press and public.   

The judge hearing the case has requested two days as reading days.  The case is expected to last a further two weeks.

For information on the room details at the International Dispute Resolution Centre tel: 02079367000.

Christmas is a painful time to be alive.  It’s true that depression rates increase over the holidays.  How can it not when we are bombarded with product advertising, crowded shopping centres, and the worries of mounting debt as we strive to out-do each other on Christmas gifts AGAIN this year (oh..come on, you know we all do it!). But it needn’t be this way!

Giving isn’t about spending lots of money on presents; it’s about togetherness and sharing your time with your loved ones.  Nothing can compare to the love and friendship of family and those close to you – and the best about all this is that it doesn’t cost a penny!

Believe it or not, children will appreciate the holiday season more when it is focused on family.  The best gift of all is the time to create those special memories with your child by baking cookies, donating or selling old toys, and creating Christmas cards and presents.

Of course it wouldn’t be Christmas without a present or two and what better way to budget for Christmas then to help your child write that all important list for Santa?  If your child is asking for a particular expensive gift, then buy a few smaller, less expensive gifts to go with it.

The Christmas shopping season doesn’t have to leave you with a large credit card debt.  Below is a list of a few simple rules that will get through the holiday season with your budget intact:

1.       Set a limit on how much you plan to spend overall for the holiday.  Once you know how much you want to spend, make a list of who is to receive gifts and how much to spend on each person.  This way you can gain an overall picture of what you are going to spend.  If you spend more money on a gift then you have budgeted for, then another gift will have to cost less than the amount you had budgeted.

2.       Shop around.  Before you head out to the shops, look online to see if you get better deals.

3.       Open a special savings account if it’s difficult to come up with enough money for Christmas shopping.  Make sure you set realistic spending and saving goals. 

4.       If you must use credit to pay for things this Christmas, use cards that offer 0 percent on purchases for a period.

5.       To make sure you’re not wasting money on gifts your friends and family don’t want, ask them to suggest three or four possible gifts.  Then buy something they suggest that’s in your price range.

6.       Don’t buy yourself a Christmas gift.

7.       Vision yourself enjoying a debt-free holiday.

It is never too early to plan for Christmas.  By starting now you will enjoy a debt-free Christmas this year and in years to follow.

1. Don’t panic and don’t ignore the problem, it won’t go away!
2. Don’t take out more credit or put more on existing credit, like your credit cards – you’ll only get yourself in worse trouble.
3. Talk to a specialist advice worker who can negotiate with creditors on your behalf.
4. Don’t pay off the person who is shouting the loudest, but pay the most important ones like mortgage, rent, council tax and utility bills.
5. Don’t ignore court papers.
6. Check your income and see if there is anything you are entitled to that you are not getting. For example, council tax benefit or tax credits.
7. Look carefully at your spending and see if there is anything you are able to cut down on but don’t be over ambitious or you will not stick to it.
8. Work out how much you can realistically afford to pay.
9. Think twice about taking out a loan to pay off all your debts. You may end up paying back a lot more than you borrowed and at very high interest rates.
10. Be careful of creditors offering to help you with your debts. Seek advice from an independent agency that will work on your behalf to clear your debts in the shortest time possible.

1. BE CLEAR ABOUT WHERE YOUR MONEY IS GOING. Take a long hard look at your finances. Work out all your income and your spending and look at whether there is any room to cut back and make savings.
2. BE REALISTIC ABOUT WHAT YOU CAN AFFORD. Work out how much you can spend and stick to it.
3. USE STANDING ORDERS AND DIRECT DEBTIS TO MEET REGULAR OUTGOINGS SUCH AS RENT/MORTGAGE, UTILITY BILLS, COUNCIL TAX ETC. Arrange for payments to go from your bank account just a few days after your wages have been paid in.
4. TRY AND SAVE SOMETHING EVERY MONTH, ESPECIALLY FOR PLANNED SPENDING LIKE HOLIDAYS AND CHRISTMAS. Set up a standing order to a savings account. You will be surprised how quickly you will forget you are saving!
5. AIM TO HAVE THREE OF THE NINE MONTHS OF YOUR EXPENDITURE TUCKED AWAY. For planned events like pregnancy or redundancy as well as planned savings.
6. IF YOU CAN, PAY FOR GOODS OUTRIGHT. Don’t be persuaded to take out credit unless it really does work out cheaper or better meets your budgeting plans.
7. ALWAYS TRY AND PAY AT LEAST 10% OF YOUR BALANCE EVERY MONTH ON YOUR CREDIT CARDS.
8. IF YOU ARE TAKING OUT NEW CREDIT - whether buying a house, a new car or getting a loan - think carefully about how you would manage the repayments if interest rates start to rise, or if you suddenly find yourself out of a job. This is especially important in the case of mortgages and secured loans where your home is at risk.
9. SPEND TIME IN SHOPPING AROUND BEFORE BORROWING. Research what’s on offer and get advice. Never borrow money on the spur of the moment. You will be paying the price for years to come if you don’t think it through.
10. WHAT SEEMS LIKE A GOOD IDEA CAN HAVE HIDDEN COSTS. Interest free credit has to be paid off in full before the free interest expires.

Most people are terrified at the thought of receiving a County Court Judgment (CCJ), but money judgments can actually work in your favour.

If you have at least one High Court or County Court money judgment and have two or more debts, you may qualify for an Administration Order.

An Administration Order is a county court order which prevents individual creditors taking enforcement action without permission from the court.  The order can continue until the debts are paid in full.

However, with the right advice and support, it is possible to request an order that allows for partial payment of the total debts.  This means you only pay a proportion of the debts to the extent of 10p in the £, with the remaining balance written off after a reasonable period.  In most cases a reasonable period is considered to be no more than three years.

The downside to an administration order is that your total debt level cannot exceed £5,000.  It is therefore important that you check all the credit agreements to see if you are actually liable for the debt before including them as a creditor on the application form.

Administration Orders are not for everyone.  For further advice and assistance, call our advice line on:

0845 845 0140