scampjet & PPI

[jumpjet]

Hi all,

 

I had to take out one of those " If you don't accept our offer we will be unable to help you" managed loans paid into my back account 21/9/2001 total borrowed £5550.00. same day paid out " Loan Protection" £1,051.60. I have this on my statements from the period. so we actually borrowed £4498.40. We have been paying for this managed loan since and are still paying via a DMP. We just sent an AOS to the court as CL Finance are claiming the balance of £3529.02. this means that in over 6 years we have only paid £2020.98 off this loan at £77 per month = £5544 (ish) that we have paid so far and still owe £3529.02.

 

Now then...... How do I work out what percentage of this has been PPI + interest. All charges applied to the account were added to the current account balance and these we have had returned from the bank. what I don't know how to do is separate the the loan interest from the PPI interest.

 

Any help appreciated.

[hellhasnofury]

Hi all,

 

I had to take out one of those " If you don't accept our offer we will be unable to help you" managed loans paid into my back account 21/9/2001 total borrowed £5550.00. same day paid out " Loan Protection" £1,051.60. I have this on my statements from the period. so we actually borrowed £4498.40. We have been paying for this managed loan since and are still paying via a DMP. We just sent an AOS to the court as CL Finance are claiming the balance of £3529.02. this means that in over 6 years we have only paid £2020.98 off this loan at £77 per month = £5544 (ish) that we have paid so far and still owe £3529.02.

 

Now then...... How do I work out what percentage of this has been PPI + interest. All charges applied to the account were added to the current account balance and these we have had returned from the bank. what I don't know how to do is separate the the loan interest from the PPI interest.

 

Any help appreciated.

 

Hello SJ

 

Have you sent them a S.A.R - (Subject Access Request) for all of the information that they hold regarding the account/ If not do so.

 

I would also be of the mind to send them a request for the copy of the credit agreement that you signed for the loan.

 

You will find the template letter for the ca in the debt forum under

 

Creditors and DCAs - Letter Templates & Budget Planner you need letter N

 

Once we get the figures we can help to work it out:-D

[jumpjet]

Hi Hellhasnofury,

 

I have thought of doing this but I don,t want to rock the boat or give the game away.

 

My managed loan carried a different account number to that of my current account. This account was closed with the refund of charges I recieved for that account. CL finance are claiming the managed loan account balance, but they have been assigned this on the current account number which I can prove wass paid off and closed by HSBC. I do not want to run the risk of their right hand Knowing what their left is doing and amending their claim if they have or obtain the right details.

 

However, I would like to claim the PPI as being mis- sold as it was clearly added to the loan as a one off payment + contractual interest. I just do'nt know how to calculate it.

[hellhasnofury]

Hi Hellhasnofury,

 

I have thought of doing this but I don,t want to rock the boat or give the game away.

 

My managed loan carried a different account number to that of my current account. This account was closed with the refund of charges I recieved for that account. CL finance are claiming the managed loan account balance, but they have been assigned this on the current account number which I can prove wass paid off and closed by HSBC. I do not want to run the risk of their right hand Knowing what their left is doing and amending their claim if they have or obtain the right details.

 

However, I would like to claim the PPI as being mis- sold as it was clearly added to the loan as a one off payment + contractual interest. I just do'nt know how to calculate it.

 

Hello SJ,

 

I understand where you are coming from;) .

 

Do you know these figures??

 

Amount borrowed

Interest rate

Total charge for credit

Monthly payments

Length of term

 

I am sure that you have read this and taken hope from it

 

HFC fined for PPI misselling - game over for them!!

[jumpjet]

Hi hellhasnofury,

 

 

Hello SJ,

 

I understand where you are coming from;) .

 

Do you know these figures??

 

Amount borrowed .....................£5550.00

Interest rate...................................No! (I was hoping someone new HSBC

rate @the time)!

Total charge for credit.....................I'M AFRAID NOT!

 

Monthly payments.............................£77.00

Length of term..................................7 Years I think:oops:

 

I am sure that you have read this and taken hope from it

 

HFC fined for PPI misselling - game over for them!!

 

Probably not very helpfull !!!!!!

[jumpjet]

Hi hellhasnofury,

 

 

 

 

Probably not very helpfull !!!!!!

 

got some more info (courtesy of CL finance)

 

 

Interest rate 11%

 

Term of loan......................102 months

 

Original agreement does'nt mention total charge for credit.