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Home Shopping Loan Alais BOS


pecky1
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Husband took out a Personal Loan with Home Shopping Finance part of the Bank Of Scotland on 1/3/2005 Loan taken out over the phone, told at the time if he didnt take out the PPI he couldnt have the loan ( which i now know is not the case) Loan was for £8.000 with interest and PPI came to £16.000 approx (Mad I Know) Courier bought the agreement to the door.

After paying £270 for approx 8 months I looked at the agreement again and decided to cancel the PPI as we were paying £4.000 for this. They wrote back with Reduced payments to carry on with.

After finding CAG, have now requested a summary statement as the repayments are now crippling us with the Mortgage rate going up so for the last 2 months have only been paying £100 instead of the £250.

Summary statement shows that they gave us a rebate of £2300 back on to the loan which still made the loan approx £12.000. On the original agreement, Loan was for £8.000 interest was £3.200 then the PPI on top was £4.000.

Advised on the Credit Agreement Thread to ask for a Modified Agreement as now the Prescribed Terms have now changed from the original. Have requested this twice with no response. Husband getting phone calls at work so wrote telephone harrassment letter also sent CCA request on the 16/11/2007. Which I know they have recieved.

Letter back from BOS have taken telephone number out of the system, Also recieved Default Notice to be paid by the 6/12/07 by then the 12-2 days will be up and as yet have not respondedto CCA request.

So can they Default as I have made a request for the CCA also the prescribed terms have now changed due to the cancelled PPI.

Is the original credit agreement we have valid.

And when the PPI was cancelled would not the £4.000 original PPI and interest be taken off the total amount of the loan.

As I make the loan with out the PPI now owing them approx £5.000 with all the payments we have made on to this account on the Default notice they make it approx £8.000.

Any help or advice would be appriciated on my next step

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First thing to do is send SAR for telephone records they should still have them if the loan was applied for over the phone.

 

Then have a look at the link, it hasd some letters you could use. IMHO PPI claims are still pretty new and with persistance I think they should roll over. Plus if you do get the phone records you have a clear cut miss selling case.

 

 

http://www.consumeractiongroup.co.uk/forum/ppi/61081-ppi-some-notes-claimants.html

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