PPI on closed/settled account

[angel49]

Hi to anyone that can help me here. I have my postings in HFC forum and credit agreement section. My real need is to claim back mis-sold PPI.
Had all my info back under Subject Access Request from HFC on Friday.I had 3 accounts with them all settled/consolidated and have just one active one left with them for which they sent my credit agreement but none for the others. I understand they are not obliged to for closed/settled accounts.
One closed account in particular remains a thorn in my side,it was for £6000 loan but became £12,900 with PPI and interest. The PPI was no good to me as I had seen a doctor re chest pain but returned to work after one week. Some months later I had to leave work having been diagnosed leaky heart valve/angina. Tried to claim through insurance just to be told it was now classed as pre-existing. So, ended up in financial difficulty resulting in HFC rewriting this loan over longer period to amounts I could afford minus of course PPI and interest.

But I need the original credit agreement to show what figures are what and have been advised to write back but what sort of letter would now be strong enough for them to find this credit agreement? In particular PPI amounts, I was told it was in my own interest to take this because of the size of the loan etc etc.
Apologies for a lengthy post.

[hellhasnofury]

Originally Posted by angel49

Hi to anyone that can help me here. I have my postings in HFC forum and credit agreement section. My real need is to claim back mis-sold PPI.
Had all my info back under Subject Access Request from HFC on Friday.I had 3 accounts with them all settled/consolidated and have just one active one left with them for which they sent my credit agreement but none for the others. I understand they are not obliged to for closed/settled accounts.
One closed account in particular remains a thorn in my side,it was for £6000 loan but became £12,900 with PPI and interest. The PPI was no good to me as I had seen a doctor re chest pain but returned to work after one week. Some months later I had to leave work having been diagnosed leaky heart valve/angina. Tried to claim through insurance just to be told it was now classed as pre-existing. So, ended up in financial difficulty resulting in HFC rewriting this loan over longer period to amounts I could afford minus of course PPI and interest.

But I need the original credit agreement to show what figures are what and have been advised to write back but what sort of letter would now be strong enough for them to find this credit agreement? In particular PPI amounts, I was told it was in my own interest to take this because of the size of the loan etc etc.
Apologies for a lengthy post.

Hello and welcome,

You need to send this letter to get yur original credit agreement. This will cost a £1. This is under the Consumer Credit Act and they must supply it to you. They have twelve days to give it to you or they are in default and if after a further 30days they have not complied it is deemed a criminal offence.
It can be found in the debt forum under credit templates under letter N.

Ask your creditor for a copy of your credit agreement under the Consumer Credit Act 1974

1 High Street,
Newtown,
Kent
R21 4RH

June 28, 2006

The Loan Company
Company House,
Church Street,
Newtown,
Kent,
R1 7HG

Dear Sir/Madam

Re:− Account/Reference Number 4563210025897412

With reference to the above agreement, we would be grateful if you would send us a copy of this credit agreement.

We understand that under the Consumer Credit Act 1974 (Sections 77−79), we are entitled to receive a copy of our credit agreement on request. We enclose a payment of £1.00 which represents the fee payable under the Consumer Credit Act.

We understand a copy of our credit agreement should be supplied within 12 working days.

We understand that under the Consumer Credit Act creditors are unable to enforce an agreement if they fail to comply with a request for a copy of the agreement under these sections of the Act.

We look forward to hearing from you.

Yours faithfully
Mr A N Other
__________________
Hope this helps. just give a shout if you need help

[angel49]

Thank you HHNF
I've been following your thread and others.Just didn't know what letter to send as most people are saying HFC not obliged to send credit agreement for closed/settled accounts?

[hellhasnofury]

Originally Posted by angel49

Thank you HHNF
I've been following your thread and others.Just didn't know what letter to send as most people are saying HFC not obliged to send credit agreement for closed/settled accounts?

I think it depends how long ago the loan was.If it was with the limitations of 6yrs they should have some infor, and whether you believe what they say to you. They may say that they have no information regarding that loan and the ppi.

But if you have information on it, be like thorn in their side and keep at them till you get this information. You'd be surprised what they acturally don't give you.

Can you recall if you took the loan over the phone. If you did, insist that you get the recordings.

In my case they actually sent me the ca with the amount for the ppi on the loan. No other written correspondence etc. So Just kept at them spouting on about the Limitations Act and the Data Protection Act. and bit by bit I have now got them over a barrel, so to speak, they are still being a bit controlling about the refund. But I will have it my way or I'll just let a judge decide.

They will try and stall and deny, but at the end of the day if they admit to it they have to pay your money back.

Do not let them win. Educate yourself with the legislation so they are aware you know what your talking about and then they will that what you are saying very seriously.

Good luck

[sonic007]

hi there hellhasnofury

could you help me in the right direction? have recieved a offer from lloyds reguarding ppi if l except the offer it will be paid off loan if not it says that l do have the option of esculating matters within Lloyds TSB INSURANCE?

ANY ADVISE WOULD BE VERY HELPFULL

SONYA

[hellhasnofury]

Originally Posted by sonic007

hi there hellhasnofury

could you help me in the right direction? have recieved a offer from lloyds reguarding ppi if l except the offer it will be paid off loan if not it says that l do have the option of esculating matters within Lloyds TSB INSURANCE?

ANY ADVISE WOULD BE VERY HELPFULL

SONYA

Hello Sonya,

Well done

Start your own thread on the ppi forum so we can keep an eye of your claim. It may get lost in someone elses.

It is great that they are making you an offer, have they admitted it was mis-sold to you. Sounds like it if they are offering you money.

The choice basically boils down to how much of a fight you want to have with them.

You can take their offer( is that with the interest they have charged you and how long have they had your money?) and it is less to pay in the long run. Be careful if they want you to take out a new loan or change the credit agreement as they may charge you a higher APR.

However if you wish to have the money if your hand tell them so, send a prelim letter, of if you have sent that, send your lba and threaten them with court. If no joy .Send a complaint to the FOS

In my opinion which is my own, they have acknowledged the mis-selling by giving you an offer of money they should never have had and are giving it to themselves,

One of the companies I am dealing with have tried this tactic and now have until the 7th of April to come with a cheque to me or it MCOL for me.
I will go down the court route on principle as I will not allow them to control this matter anymore.

Good luck