Thread: Techtalk -V- ENDEAVOUR PERSONAL FINANCE

Hi there Tecktalk.

My loan with Endeavour was taken out in July 2004, it was for 25 yrs, but we paid it off almost 24 years earlier, I did not think the rebate was fair but am aware they used the 'rule of 78'.
I have some information here which you probably already have, but will add this anyway:

Additional information on the REDEEM paperwork (SAR)

Future charges:
The amount of interest charged if the loan had run its full term without variation.

Less amount of rebate:
The amount of interest that is cancelled because the account is being settled early. The difference between the future interest and rebate is the proportion of the future interest you pay to settle your account early. The rebate has been calculated in accordance with the Consumer Credit (Rebate on early settlement) Regulations 1983.
......................... ......................... ......................... ...............

I was thinking if you wanted to pursue, have you been in touch with the brokers who arranged the Endeavour loan for you ?

Unfortunately I did try to pursue through Endeavour who gave me their final response and denied mis selling and told me to try to redress with the Brokers, I had done this and it was then confirmed to me the brokers called Click finance had dissolved in 2006. Yet they are open again as Click and active under this present group but the directors/brokers are still acitve and have just sent off a letter to pursue this, its worth a try.

However as it was Endeavour who we settled the loan/PPI with, as they sorted out the calculations I am thinking about putting a new letter in, as a brand new request but on the rebate side of it and not for mis selling.

Also just to let you know I tried the fos with Endeavour but because these were not regulated until Jan 2005 they could not proceed with this.
Yet I may be able to go further with the FOS with the unfair rebate but not the mis selling, unless someone could advise otherwise.

I would keep your options open and go back to the brokers who arranged yours for you, who may have been possibly regulated if you need to complain further to the FOS.

Good luck.
Di.

Originally Posted by techtalkonline

Hi Di,

Thank you for the information. I did read that in the T&C's too, although I am not sure of the fair settlement either. It seems a bit of a cop out, whether they are regulated by FOC or not.

As for going through the brokers, I thought about that. Believe it or not, I honestly can't remember whether I used a broker or not. I "thought" I used Ocean Finance, but every statement and the credit agreement are all from Endeavour, so I can only assume that I went direct through them.

It was a telephone application, that much I do remember! It was this that made me sit up and actually read the credit agreement, because I don't recall ever being asked if I wanted PPI or not. But there was a thick X in the PPI box that is not in the same pen as my signatures. I didn't put it there, but was it there when I signed the papers, or was it added AFTER I sent them back? Proving that would be nigh on impossible, but I can be certain that I didn't put that X there.

Anyhow, if anyone reading this can look up to my first post and answer the original question, I would be very grateful! Now that there are a few posts, I didn't want the original question to get missed!

Kind regards,
Colin.

Hi there Colin thanks for getting back to me.
I know what you mean about the X added in the box, we believe this was the case with us too !
Anyway regarding refunds etc I was given a link from a mate about 'Single Premium payment protection insurance refunds' if your interested here it is:
Payment protection insurance

Anyway, I hope this case is resolved for you and sure someone will come along who will be able to help.;-) Go and get em Colin......

Di.