Hitachi Finance

[pilla99]

My husband purchased a hot tub in 2006 and the finance was arranged through Hitachi Capital.

After requestung a copy of the loan agreement and details of any insurance added to the account. I recieved a coopy of the fixed sum loan agreement which shows the payments of £156.09 for 60 months.

We have been paying £177.00 a month so there is obviously ppi added on but there is no mention of this on the agreement.

And I have also noticed that it has not been signed by the supplier on behalf of Hitachi Capital Consumer Finance.

Does this make the loan unenforceable. If so whats the next step?

Any help will be appreciated

[reallymadwoman]

Is it possible to post up a copy of the agreement with personal details and any account number or bar code obscured?

Are the payments by direct debit? I.e. are they taking £177 pm or are you paying £177 pm.

	The Direct Debit Guarantee • The Guarantee is offered by all Banks and Building Societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own Bank or Building Society. • If the amounts to be paid or the payment dates change, we will notify you three working days in advance of your account being debited or as otherwise agreed. • If an error is made by us or by your Bank or Building Society, you are guaranteed a full and immediate refund from your branch of the amount paid. • You can cancel a Direct Debit at any time by writing your Bank or Building Society. Please also send a copy of your letter to us. This is a term of your banking contract and you can sue on it.

[pilla99]

Hi,

They are taking £177.00 by direct debit, sorry I am new to this how do I post a copy of the agreement, I do not have a scanner.

Thks x

	The Direct Debit Guarantee • The Guarantee is offered by all Banks and Building Societies that take part in the Direct Debit Scheme. The efficiency and security of the Scheme is monitored and protected by your own Bank or Building Society. • If the amounts to be paid or the payment dates change, we will notify you three working days in advance of your account being debited or as otherwise agreed. • If an error is made by us or by your Bank or Building Society, you are guaranteed a full and immediate refund from your branch of the amount paid. • You can cancel a Direct Debit at any time by writing your Bank or Building Society. Please also send a copy of your letter to us. This is a term of your banking contract and you can sue on it.

[reallymadwoman]

Pretty much impossible without a scanner. You could type up the financial section, i.e. amount borrowed, interest etc.

First, I know absolutely nothing about PPI so please bear that in mind when considering any suggestions. I do know a bit about CCAs though.

1. The lack of a signature by or on behalf of the creditor will not make the agreement irredeemably unenforceable, however inaccurate figures in the prescribed terms could.

2. As the payments they are taking are in excess of the amount they should be, you need to query this. It could be that you are paying for PPI, but it could be something else. Either way, you need to know. I wouldn't normally suggest doing anything over the phone, but in this case a quick call might be the easiest way to get an answer. Phone customer services (when they are open again) and ask why the payments are more than they should be. It's possible that it's a simple error, no matter how unlikely that seems.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[pilla99]

I have found a letter that we sent in oct 06, Saying I am pleased to confirm that Payment Protection Insurance has been added to the agreement and monthly instalments have been amended to £177.94.

Key Financial Information
Amount of credit £7500.00
Under this agreement you will pay 60 consecutive monthly payments of £156.09.

Cash price £8750.00
Advance payment: £1250.00
Total charge for credit £1865.40
interest rate 5.0% per annum variable

thx

x

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[reallymadwoman]

I'm asking for help with this on another thread.

Did you ask for the PPI or sign anything? Is there any reason why PPI would be unsuitable - self-employed, unemployed, previous medical history?

[car2403]

Originally Posted by pilla99

I have found a letter that we sent in oct 06, Saying I am pleased to confirm that Payment Protection Insurance has been added to the agreement and monthly instalments have been amended to £177.94.

Key Financial Information
Amount of credit £7500.00
Under this agreement you will pay 60 consecutive monthly payments of £156.09.

Cash price £8750.00
Advance payment: £1250.00
Total charge for credit £1865.40
interest rate 5.0% per annum variable

thx

x

A loan of £8750 over 60 months at 5% APR would give payments of £164.67, totalling £9,880.70, and a total charge for credit of £1,130.70.

Based on their monthly payment, the actual APR charged (if the payments shown are right) would be 8.435%.

Does the agreement set out the PPI separately, or was the original agreement modified by a new one? If the PPI is separate, but there's no modification of the original, they will struggle to enforce as the APR is way out. Remember, though, that APR isn't a prescribed term under the agreement regulations, so this isn't irredeemably unenforceable as it can be enforced under s.65, but you would have a decent defence of prejudice under s.127(1)(i) should you get that far, based on these figures, IMHO.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[Goldlady]

An extra £1311 has been added to the loan total which is presumably PPI and interest, assuming that the PPI was added near to the start of the loan. You need to send them a Subject Access Request to find out if the PPI was actually applied for.

	Subject Access Request A Subject Access Request is a demand which you can make to any organisation to disclose any personal information which they hold on you. The right to disclosure of data is provided by the Data Protection Act. There is no time limit. The organisation is obliged to reveal everything they have about you - which you ask for - as far back as you ask for. There are very few exceptions. It does not matter whether the data is held on microfiche, in an archive, on tape, in a cardex system, in sound recordings or in screen notes. Some companies are saying that they do not have to disclose where it would be difficult to do so - "disproportionate effort". This is untrue. Disproportionate effort refers to something else under the Act. If you are seeking bank charges information then you should ask for "all data held on you" and you should make it clear that you want everything as far back as it goes. Do not be put off by excuses. Do not accept being fobbed off. It is not in your bank's interest to make full disclosure to you. This means that it is in your interests to get it. If you have not started gathering your bank charges information yet, then you should start now. There will soon be a big rush once the OFT test case has been settled. Get all of your bank account informtion as far back as possible. At least as far back as 1995. If your bank says that they don't keep data as far back as this, don't accept it. Be persistent. They've got what you need in some form or other.

	Are you letting your bank keep your money Are you giving away thousands of pounds?? Many people aren't claiming all of the money they are entitled to when they make their bank charges claims. You have been forced to pay unfair bank charges. Have you forgotten that your bank has charged you inteest on those charges? If you are overdrawn and the bank owes you charges - then your overdraft is made up of charges - money which you bank owes you. Yet you are paying interest to the bank - on your own money!!! Follow this link to see the discussions on this. You might even double th size of your claim.

[steven4064]

£7500 repaid in 60 installments of £156.09 gives a total cost of credit of £1865.40 (which is what is says above) and an APR of 9.5% so the 5% is clearly wrong.

Can you post a scan of the agreement with you personal details removed. I would like to see if the agreement is enforceable.

[pilla99]

sorry I do not have a scanner can I fax it to you. As far as I am aware ppi was not asked for and nothing was signed.

thx x

[steven4064]

Can someone else scan it for you?

[pilla99]

I am getting someone to scan it for me, how do I add to a message?

[car2403]

Originally Posted by pilla99

I am getting someone to scan it for me, how do I add to a message?

"How do I...?" A Dummies' Guide to this Forum

Use the photobucket option

[pilla99]

Hi I have scanned the document, but I am having trouble sending it as I do not have an attachment option when I reply, is there something that needs to be set up?

thx x

[steven4064]

As car says, use photobucket (see the guide) and ten post a link here using the icon

[pilla99]

I uploaded onto photobucket,hopefully it is attached.

[/IMG]

[pilla99]

[/IMG]

[steven4064]

Bring up the image in photobucket and right click on it and "copy image location" or whatever the equivalent is in Internet Explorer

In the 'Post Quick reply' here click the icon and paste the image location there - that will do it.

[car2403]

Originally Posted by steven4064

In the 'Post Quick reply' here click the icon and paste the image location there - that will do it.

Or...

Just post the IMG link from Photobucket in to a new reply to your thread

[pilla99]

[/IMG][/IMG]