Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
i took out a consolidated loan in 10/05 online after visiting my branch of Natwest and speaking to a customer service as they asked me to come in and talk about my finances, i explained i was not on the electoral roll and had indeed been turned down by tesco, they said as i had been a good customer for 20years this would not be a problem getting a loan but should also take out PPI i did this online as the apr was better. now to 10/06 i could no longer keep up payments and defaulted i am now on a dmp with the CCCS payments still going to NatWest. but what should i do about the ppi which takes up about 6K of the debt. do i go down the route of just cancelling or on the misold route but i do not have any proof my word only
When you say that PPI takes up 6k of the debt, do you mean that you had to pay for it up front? It seems to me that you should start by cancelling the PPI and then claim it back. If there any other grounds for saying it was mis-sold, use those too.
When the Liberals and Conservatives were in opposition they both agreed that banks should pay back high bank charges to customers. Nothing seems to of happened since they came into power as a coalition. PPI insurance has been sorted now they should turn their attention to bank charges and help customers get exorbitant charges refunded.
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Alliance & Leicester Moneyclaim issued 20/1/07 £225.50 full settlement received 29 January 2007
Smile £1,075.50 + interest Email request for payment 24/5/06 received £1,000.50 14/7/06 + £20 30/7/06
Yorkshire Bank Moneyclaim issued 21/6/06 £4,489.39 full settlement received 26 January 2007
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i took out a consolidated loan in 10/05 online after visiting my branch of Natwest and speaking to a customer service as they asked me to come in and talk about my finances, i explained i was not on the electoral roll and had indeed been turned down by tesco, they said as i had been a good customer for 20years this would not be a problem getting a loan but should also take out PPI i did this online as the apr was better. now to 10/06 i could no longer keep up payments and defaulted i am now on a dmp with the CCCS payments still going to NatWest. but what should i do about the ppi which takes up about 6K of the debt. do i go down the route of just cancelling or on the misold route but i do not have any proof my word only
Hello Jac,
You applied for this loan over the internet, Did you receive any paperwork regarding the loan. Did you need to sign anything??????
Can you let us know please.
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
i have realised now i applied over the phone, yes i got the original paperwork that was posted to me kept my copy and sent their's back and i had the option to tick the PPI which i did, as the person i spoke too in the branch adivised me too as i was not on the electoral register. I am sure the reason i did this over the phone it was a better APR then in branch. I think i will send them a letter to cancel as part 8 of terms and conditions says insurance cancellation rights - If the loan protector insurance is cancelled during the statutory cancellation period the insurance loan part of the loan will be extinguished but this will not affect your obligations to repay the main loan under the agreement. The loan protector insurance may also be cancelled at any other time during the term. if this is done the premium will be rebated and the rebate used by us to reduce the balance of the loan. This will not affect your obligations to continue to repay the outstanding balance of the loan and we will advise you of the amended repayments ( which will be greater then main loan repayments) required as a result of such cancellation.
sorry forgot to say yes it was upfront on payment.
B insurance loan £5395.00 the premium, (inclusive of insurance premium tax) payable to the insurers for optional loan protector insurance in relation to the agreement agains the death, accident, sickness, or unemployment of the first customer (the "insured") as explained in our loan protector insurance leaflet.
C total Charge £4737.80 (interest - includes £957.80 for insurance loan)
can anyone help me draft a letter to them regarding cancellation of PPI and to get a rebate onto my loan. But to also word i am on a dmp and cannot make any higher payment.
can anyone help i am about to right my letter regarding cancelling the PPI insurance. now reading termination of you insurance under the insurance scheme. The date the agreement is referred to the banks inolvency and debt recovery dept. i have listed above the amount of the ppi i had to pay up front as well as insurance i just need help on how to word this letter so it is back dated to the time i defaulted.
can anyone help i am about to right my letter regarding cancelling the PPI insurance. now reading termination of you insurance under the insurance scheme. The date the agreement is referred to the banks inolvency and debt recovery dept. i have listed above the amount of the ppi i had to pay up front as well as insurance i just need help on how to word this letter so it is back dated to the time i defaulted.
julie
Hello Jac,
What is the balance left on the loan now????
Sorry I don't understand what you mean by backdated to the time I defaulted??????
If you are reclaiming the upfronted ppi with the interest, get the total amount and work out the contractual interest that you are asking for, from the date the loan started to today. Never mind when they defaulted.
You have to imagine that the money they took from you, might have been sitting in a bank account somewhere accrueing interest. You were never given that choice.
So hit them hard, you have the choice now. you can get the amount refunded to you by cheque and you decide what to do with it. Offer a token settlement offer to get rid of the debt. Ask them to accept the refund in full balance of the debt.
Be warned that they will put a fight and will not be helpful, don't be put off, reclaim you money back.
If you need help with spreadsheets give me a shout.
If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW
defaulted on loan with ppi
and speaking to a customer service as they asked me to come in and talk about my finances, i explained i was not on the electoral roll and had indeed been turned down by tesco, they said as i had been a good customer for 20years this would not be a problem getting a loan but should also take out PPI i did this online as the apr was better. now to 10/06 i could no longer keep up payments and defaulted i am now on a dmp
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Originally Posted by jac9815
