Illusion of fact?
Can anybody define the precise meaning of these two words: Revised Payment & Capitalisation?
I know the answer, but judges don’t and interestingly the Banks know it?
I fought a case of wrongful repossession and lost. It was based on “we’re my arrears capitalised” the judge said your payments were Revised.
I note now through Covid this word “revised” is used once a payment holiday has come to end this issue would make the West Brom case minuscule if people could understand how the kidologies are used.
I wasn’t allowed a trial and no wonder banks use “strike out” to prevent you making headline news.
So when payments can be missed by agreement (payment holiday) the new amount is called revised by Lenders, so my question is simply what is the difference in meaning between Revised Payment & Capitalisation, because a judge told me my arrears were Revised not Capitalised.
However, the arrears were added 6 months before the repossession took place, so in brief, arrears were added, but those same figures were utilised again six months later when they did not exist.
The reason this was used was to bring liquidity back to failing banks and building societies circa 2008, but they had a problem the majority of the thousands of repossession had already had a capitalisation event so they would set up “strike out” to stop it becoming common knowledge. Andrew Bailey was well are of this and so was Lord Justice Munby.
Peter
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Member Since January 2015 - Comments: 77
11:55 AM, 20th November 2020, About 5 years ago
Apologies I have missed out that my mortgages were “interest only” so if unpaid interest is indeed arrears and those arrears are added Judge Salmon and Lord Justice Soole stated “your payments were revised “ has shown in your particulars of claim they were not Capitalised.
The legal profession knows exactly the game being played , I then went to the Supreme Court and they through it out and told me never to bring this up again.
My Solicitor awarded me a paralegal certificate for the work I did and concluded along with the odd “ silk” my success would be more costly than PPI.
My only regret was my barrister kept is “ powder dry” and did not produce the Expert Witness report it was left for a trial.
However a private prosecution may be my next step because I believe “ perjury” is very prominent in my case and does not come under a time line.
Member Since May 2015 - Comments: 49
2:34 PM, 20th November 2020, About 5 years ago
Member Since January 2016 - Comments: 235
3:46 PM, 20th November 2020, About 5 years ago
Reply to the comment left by Chris Harris at 20/11/2020 – 14:34
I was thinking just the same!
Member Since April 2017 - Comments: 225
4:47 PM, 20th November 2020, About 5 years ago
Yes, please help us to understand. What is a “strike out”?
Member Since January 2015 - Comments: 77
5:04 PM, 20th November 2020, About 5 years ago
When a Lender receives Court papers on a litigation Case by a borrower they examine the paperwork to access the possible damage it could cause , in my case it was a done deal my evidence was with merit.
I paid £10,000 to the Courts for a trial however we /my legal team received documentation that an application to strike the case out was also being prepared on behalf of the Lender.
It is known as “ strike out” if they succeed at the hearing you are stopped right at that point from proceeding with your case.
The sad thing is it is a prevention of justice in common law not many people know this exists.
Member Since January 2015 - Comments: 77
5:10 PM, 20th November 2020, About 5 years ago
I appreciate many people want to know more about the case but my question is being avoided
Define Revised Payment ( in banking)
Define Capitalisation. ( In banking )
Member Since May 2015 - Comments: 49
5:17 PM, 20th November 2020, About 5 years ago
Member Since May 2015 - Comments: 49
5:18 PM, 20th November 2020, About 5 years ago
Member Since January 2015 - Comments: 77
5:54 PM, 20th November 2020, About 5 years ago
This proves my point to my original posting
Many people here are well educated and yet nobody can answer the simple questions (below) why ?
Define The words Revised Payment ( in banking )
Define the word Capitalisation (in banking)
This is key it is a “Pandora’s Box” nobody can answer something so simple but does an answer exist or Crucially is this the anomaly that is used time and time again to prevent justice.
I repeat
The Judge in my case stated “ your arrears were Revised NOT Capitalised .
Member Since May 2015 - Comments: 49
6:25 PM, 20th November 2020, About 5 years ago