Marc Gander - The Consumer Survival Handbook


A 220 page introduction to all things consumer related by our own BankFodder.

Includes energy companies, mobile phone providers, retailers, banks, insurance companies,debt collection agencies, reclaim companies, secondhand car sellers, cowboy garages, cowboy builders and all the rest who put their own profits before you.

£6.99



Patricia Pearl - Small Claims Procedure - A Practical Guide


An excellent guide for the layperson in how to use the County Court - a must if you are intending to start a claim.

£19.99 + £1.50 (P&P)


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  1. #1
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    Default PPI can anyone answer a fairly simple question

    Is it legally possible for a bank to add the entire PPIicon fee to a loan oustanding balance, if the loan goes into default?


  2. #2

    Default Re: PPI can anyone answer a fairly simple question

    More infomation needed, karenruth


  3. #3

    Default Re: PPI can anyone answer a fairly simple question

    i think you might find the multiple agreements thread in the PPIicon? forum interesting reading on thissubject.

    typically though, loans with ppi have them lumped together anyway, be them front loaded or monthly paid

    but yes more info please

    dx

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    DX
    RIP Martin3030

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  4. #4
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    Default Re: PPI can anyone answer a fairly simple question

    Hi dx

    When I took out the loan in question, the repayment terms were as follows :

    60 repayments of 182.94....comprising 146.95 for Main Loan repayments and 35.99 for Insurance repayments.

    I went into default 10 payments into the aggreement, and continued to make reduced payents up until 18 months ago, when I first started querying the outstanding balance.

    My point is that since the loan went into default it would seem to me that the insurance policy would have been cancelled, as I was not making payment to it. Therefore since I have made no claim on the policy, why am I being expected to pay for something I have not actually owned or received any benefit from.

    I think my query is both reasonable and logically sound. However until I get a copy of the original signed credit agreement and a statement of the account I cannot properly discover whether or not my point has any real validity.

    krj8

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  5. #5

    Default Re: PPI can anyone answer a fairly simple question

    your situation is no diff from 100's of others
    the PPIicon would not of been cancelled , its how they make loads of money out of you!.

    i would start a mis-sell on the ppi, look in the top of the ppi section, lots of guides and calculators there.
    get this refunded [+ interest!] then get the charges done + interest, and i bet you'll find the balance almost goes.

    as for paying off the balance see if the agreement is enforceable first.

    dx

    PLEASE REFRAIN FROM HITTING 'REPLY WITH QUOTE' IF YOU ARE SIMPLY REPLYING TO THE LAST POST IN A THREAD..JUST TYPE!!
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    DX
    RIP Martin3030

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  6. #6
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    Default Re: PPI can anyone answer a fairly simple question

    Hi dx............thanks..... .I will do.

    krj8


  7. #7

    Default Re: PPI can anyone answer a fairly simple question

    Did you even ask for PPIicon? Is so, how?

    In other words, was it just a tick on an application form?

    Do you have a copy of the credit agreement? If not, send them a CCA Requesticon along with the 1.


  8. #8
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    Default Re: PPI can anyone answer a fairly simple question

    hi.....noomill...
    I wrote to them last april last year, as soon as I did that the DCAicon bottled out.......fosicon are dealing with it at the moment. I've just repeated my request directly to the bank. I haven't offered to pay the statutory fee, as I am waiting for them to respond to my question about why the DCA involved did not pass my rquest to them last year.........I haven't paid anything to this account for 18 months..........so I think if they could have enforced this debt they would have by now.

    krj8


  9. #9

    Default Re: PPI can anyone answer a fairly simple question

    Did you send them a CCA Requesticon?


  10. #10

    Default Re: PPI can anyone answer a fairly simple question

    I give this advice to everyone with regards to CCA requests it is useful sometimes, but all they are obliged to supply is a copy of the agreement, I suggest that an SARicon is the best method of getting the information ..........under this they have to supply you with everything and includes a copy of the signed original agreement, terms and conditions...........with out the original a creditor is up a blind alley and you will know they are from the offset.............this is only my view............if they do not supply you with a copy of the executed agreement under your SAR...they cannot produce it in court as evidence as that would be considered "Fraud".... concealment of documents under the New Fraud Act 2006.

    sparkie


  11. #11
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    Default Re: PPI can anyone answer a fairly simple question

    hi noomill.................. I haven't CCA'd the actual creditor yet.........I will in the fullness of time.........I've just twigged to the whole DCAicon/creditor game..............since I haven't made any payments to this account for 18 months now i don't see that there is any rush...........krj


  12. #12

    Default Re: PPI can anyone answer a fairly simple question

    the reason asked, is that the agreement would tell you how you agreed to the PPIicon. If miss-sold, the entire agreement, both PPI AND Credit Agreement would most probably be fatally flawed and put you in a very strong position to sue for all losses and PPI premiums and charges and interest...

    Worked for me and got entire "debt" wiped off the face of the planet



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