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 have been reading over the posts on here and decided to dig out my documents for my current Welcome loan and also my previous loan. On my previous one I had PPI added and from what I remember there was no mention etc that this was optional. My current loan started in February of this year and this time I have PPI and Lifecare. Again I there was no mention of these being optional or available elsewhere. My agreement for the loan in February does have at the bottom where I signed a disclaimer saying 'I understand that I am purchasing the products ticked (PPI and Lifecare) above on credit provided you and that the terms relating to the credit for the products can be found overleaf'. My question is can I still try and reclaim it back even although I have signed this? My previous loan agreement has no such box so can I try and reclaim this? I have read through the posts on here as I said but I'm struggling to get my head round everything!
First of all send S.A.R - (Subject access request) request and find out how much of PPI balance has been paid.
If you do not know you are also paying interest on those insurances, so the quicker you cancel them, the smaller repayment would be.
If you look into your policy schedule you should find a cancellation paragraph 8 or 9 where it says that you can cancell your PPI policy.I had a problem with Lifecare insurance cancellation as in my Policy schedule it says that it's cancellable but WF provided me with copy of the Schedule without cancellation rights. So I hope you kept all the original documents.(be carefull..they can supply you with something else)If not they would be provided under SAR, just make sure they have a number on a top that belongs to your agreement.
Ii hope you understand that you are paying interest, PPI and Lifecare first, than when you paid it off your monthly payments will start redusing the amount of your loan. Rule 78 might be applied applied to the account but you have to double check.....
What is your APR?
Kind regards,
Itsme
Carphone Warehouse WON £195.00
Welcome Finance in Court. N244 accepted.
Barclaycard WON with contractual, PPI and charges for time spent and letters sent
Halifax solo, switch, Credit Classic, Halifax one Itsme Vs Halifax 2 accounts
Creation Finance Prelim received offer of £79.88.... Itsme VS Creation Finance
Vodafone overcharged Vodafon.. anything that could be done?
I will send off the SAR this week and wait and see what they send me. I'm still struggling to get my head round things. My previous loan agreement was as follows -
Amount used to settle existing loan - £980.11
Amount of new cash advance - £1019.89
= £2000.00
Plus PIP (£395.61) = £2395.61
Acceptance Fee (£75.00) = £2470.61 (Total amount of loan)
My monthly payment was £134.35 over 24 months at 34.9%
This loan ran from May 2005 until February 2007. I did have some missed payments and charges so my new loan agreement is as follows -
Amount used to settle existing loan - £1785.70
Amount of new cash advance - £500.00
Plus PIP - £680.90
Lifecare - £195.00
Acceptance Fee - £75.00
It then says -
'Amount of Credit (PIP, Lifecare and settle loan) - £2661.60
'Amount of Credit cash advance and settle loan) - £2285.70
My monthly payment is £132.13 over 36 months at 32.90% I have made every payment since this agreement began.
I will write and cancel the PIP but in the Lifcare T&C I cant see anything saying you can cancel. I'm at a bit of a loss of where to start working out what they have charged me for the PIP with interest etc. Help muchly appreciated!!
Can you scan and post the back of your LIFECARE policy schedule? I am glad you have kept it.( you can also email me the copy but the photobucket is easy to use).
You have to send a SAR for all the loans... (Accept fee+ PPI+ Lifecare+)32.9%- these is how WF presented it into my case. You need to scan your agreement and post it here( or email it to me)...
If they applied rule 78, than you probably still paying for PPI, Lifeinsurance, interest on the top only and havn't even started paying for the loan. ''Google'' Rule 78 ( as i have to run home)...But i am not 100% if they did applied it to your account. We will find out when you receive a copy from your statement.
Now i need to see a copy of the Lifeinsurance schedule))
Kind regards,
Itsme
Carphone Warehouse WON £195.00
Welcome Finance in Court. N244 accepted.
Barclaycard WON with contractual, PPI and charges for time spent and letters sent
Halifax solo, switch, Credit Classic, Halifax one Itsme Vs Halifax 2 accounts
Creation Finance Prelim received offer of £79.88.... Itsme VS Creation Finance
Vodafone overcharged Vodafon.. anything that could be done?
Welcome Finance - Needing some advice
added and from what I remember there was no mention etc that this was optional. My current loan started in February of this year and this time I have PPI and Lifecare. Again I there was no mention of these being optional or available elsewhere. My agreement for the loan in February does have at the bottom where I signed a disclaimer saying 'I understand that I am purchasing the products ticked (PPI and Lifecare) above on credit provided you and that the terms relating to the credit for the products can be found overleaf'. My question is can I still try and reclaim it back even although I have signed this? My previous loan agreement has no such box so can I try and reclaim this? I have read through the posts on here as I said but I'm struggling to get my head round everything!
Reply With Quote
))))