Thread: Help with HFC Loan

Hi All,

I got a loan from HFC Bank last December for Christmas. The Loan was for £4,000. I told the guy I did not want payment protection as I was self-employed and even if I was sick my staff would still be working.

I didnt get any loan statements of HFC and had to write to them to get one and when I did my opening balance was for £5,080.52. When I rang to ask why they said it was for payment protection. I thought that scandalous £1,080.52 for a loan of £4,000. I was also told that the loan was for 5 years and not the 3 years that I had been lead to believe.

I have paid HFC £2,016.98 and when I asked for a settlement figure they want £4,117.84 thats more than I orginally borrowed after 14 months of making payments.

Is there anything I can do about this?

Thanks

Cia

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So you did not agree to PPI, you didnt sign for it....

ask for a copy of the original credit agreement which, under section 77/78 CCA 1974, which should state the PPI amount clearly on it.

Then start taking action to get this amount taken off of your account.

Send a DPA letter too to get all your statements and paperwork relating to the loan. Adjust the template one because you aren't interested in lat epayment charges - you just want everything they hold relating to you.

Thanks for all your help will give it a try and let you know what happens.

Cia

P.S. I have also wrote to my bank the Northern Bank regarding my charges and I'm trying to claim back £3,100.00 over the past three years. Will be interesting to see if it works!