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    • Hi and thanks It looks like they ticked all the boxes to me but I'll try and upload the notice. I was wondering if a witness to late delivery might be considered proof - I'm assuming they posted it as normal but Royal Mail stuffed up delivery. If not then they're really saying it just has to be posted within 12 days of the incident, regardless of when it is received. Annoying! edit ok thanks Honeybee here's my 2nd (actually 3rd) attempt at anonymising, copying and uploading the notice! Sorry about the state of it - I sat on it while distracted by my dog 🙃 pcn front.pdf pcn back page.pdf
    • ROFL - dont get upset just because someone (quite a lot of someones) dont want smart meters - well unless you get paid for it .. in which case ...   I assume you haven't been with Octopus long enough to be on one of the very long fixed price tariffs they offered before the prices went bonkers .. and that you dont use your electricity in the evening/lunch time if you think the 'agile type tariffs are good value .. let alone worth installing a smart meter for - high price a good disincentive for an evening cuppa eh? Let alone all your computer/tv etc time in the peak price evening or lunch time. - and boy do those peak prices instantly hammer your bill when those Russian and middle eastern issues kick off.   I would only have considered a smart meter if solar panels had been an option for me - but roof is oriented completely the wrong way. Oh - and My opinion hasn't changed since the smart meter trials 40 years ago, because neither have the issues (well not enough) but I'm happy for you. Be happy for me.
    • Hi. I'm afraid I've had to hide your post with the pdf files to keep this anonymous for you. You've left the PCN reference number and your car reg showing. Could you edit that and repost please? HB    
    • Well naturally if you want to maintain your outrage, and retain something to bitch about, then arguing about the level of your fixed monthly DD is the way to go. You are of course perfectly free to ignore the easy solution.
    • His financial situation isn’t great, and the landlord has made lots of things up. The things he’s put isn’t true at all. My friend did tell the full truth with incoming and outgoing, I helped him fill in his form and he checked bills etc. to make sure it was right. His wage is ok, but not as good as the landlord thinks it is,  and he doesn’t have anything spare. How much are they likely to take from him? Should he send any reply?  the letter just says to take the court letter with him. 
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Help needed with PPI and loans


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Dear all

can anyone help regarding loans and ppi . My girlfriend has ended up with a loan of £19050.00 over 7 years , paying back a total of £40545.12!

She originally had 2 loans

 

loan 1 £11000.00 8.9% 1.4.2004

ppi £2855.99

£13855.00

Int £4895.00

Tot £18751.32 84 x 223.23 from 1.7.2004

(£6250.44 - 28 x 223.23 payments

made till 16.11.2006)

 

 

 

 

Loan 2 £5300.00 10.9% 12.1.2005

ppi £1062.09

£6362.09

Int £1582.39

Tot £7944.48 48 x 165.51 from 12.4.2005

(£2979.18 - 18 x 165.51 payments

made till 16.11.2006)

 

When she saw the Halifax in Nov 2006 she asked for help regarding these 2 loans and some other debt including her Halifax credit card.They said they could lend her a new loan of £19050.

 

Loan 1 £9492.76 (this was left on the loan )

£771.58 PPI refund

£8721.18

 

Loan 2 £4029.26 (this was left on the loan)

£194.54 PPI refund

£3834.72

 

Loans 1 and 2 after fefund £ 12555.90

Halifax credit card £ 2401.13

Extra money £ 4092.97

£ 19050.00

PPI £ 8572.51 + interest on ppi of £4010.69!

Interest on £19050 of £8911.92

 

Total £ 40545.12

86 payments of £482.68

 

I cant see how they can be allowed to take 2, insured seperately, loans, add more money to make a new one, then subject this total to combined ppi and interest, albeit after a refund on ppi. If shed been sold a seperate loan then i think there wouldnt have been such a massive total to pay off at the end.

 

Loan 1 down to .......£9492.76 Inc PPI Nov 2006

Loan 2 down to........£4029.26 Inc PPI Nov 2006

Loan 3 (example) £5527.98 Inc PPI

Total £19050.00

 

Example Loan 3 £5527.98 10.9%

PPI £1100.00

£6627.98

Interest £1600.00

Total £8227.98 48 x £171.42

 

Payments left on the now 3 loans would be;

 

Loan 1 ; 56 payments of £223.23 left . £12500.00

Loan 2 ; 30 payments of £165.51 left . £4965.00

Loan 3 ; 48 payments of £171.42 left . £8227.98

 

Total £25692.98

Instead of £40000.00

 

Her payments would be ;

£560.16per month for the first 30 months

£394.65 per month for the following 18 months

£223.23 per month for the final 8 months.

 

Ive written to the ombudsman about this who says that the Halifax did this to lower her monthly ougoings .The new loan would be cheaper for the first 30 months as it would be £482.68. But this would go on for a total of 86 months!Theres a £15000.00 difference in the 2 loans final payments. I think thats worth fighting for.

Hope this hasnt been TOO boring.

 

Thanks

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Dear all

can anyone help regarding loans and ppi . My girlfriend has ended up with a loan of £19050.00 over 7 years , paying back a total of £40545.12!

She originally had 2 loans

 

loan 1 £11000.00 8.9% 1.4.2004

ppi £2855.99

£13855.00

Int £4895.00

Tot £18751.32 84 x 223.23 from 1.7.2004

(£6250.44 - 28 x 223.23 payments

made till 16.11.2006)

 

 

 

 

Loan 2 £5300.00 10.9% 12.1.2005

ppi £1062.09

£6362.09

Int £1582.39

Tot £7944.48 48 x 165.51 from 12.4.2005

(£2979.18 - 18 x 165.51 payments

made till 16.11.2006)

 

When she saw the Halifax in Nov 2006 she asked for help regarding these 2 loans and some other debt including her Halifax credit card.They said they could lend her a new loan of £19050.

 

Loan 1 £9492.76 (this was left on the loan )

£771.58 PPI refund

£8721.18

 

Loan 2 £4029.26 (this was left on the loan)

£194.54 PPI refund

£3834.72

 

Loans 1 and 2 after fefund £ 12555.90

Halifax credit card £ 2401.13

Extra money £ 4092.97

£ 19050.00

PPI £ 8572.51 + interest on ppi of £4010.69!

Interest on £19050 of £8911.92

 

Total £ 40545.12

86 payments of £482.68

 

I cant see how they can be allowed to take 2, insured seperately, loans, add more money to make a new one, then subject this total to combined ppi and interest, albeit after a refund on ppi. If shed been sold a seperate loan then i think there wouldnt have been such a massive total to pay off at the end.

 

Loan 1 down to .......£9492.76 Inc PPI Nov 2006

Loan 2 down to........£4029.26 Inc PPI Nov 2006

Loan 3 (example) £5527.98 Inc PPI

Total £19050.00

 

Example Loan 3 £5527.98 10.9%

PPI £1100.00

£6627.98

Interest £1600.00

Total £8227.98 48 x £171.42

 

Payments left on the now 3 loans would be;

 

Loan 1 ; 56 payments of £223.23 left . £12500.00

Loan 2 ; 30 payments of £165.51 left . £4965.00

Loan 3 ; 48 payments of £171.42 left . £8227.98

 

Total £25692.98

Instead of £40000.00

 

Her payments would be ;

£560.16per month for the first 30 months

£394.65 per month for the following 18 months

£223.23 per month for the final 8 months.

 

Ive written to the ombudsman about this who says that the Halifax did this to lower her monthly ougoings .The new loan would be cheaper for the first 30 months as it would be £482.68. But this would go on for a total of 86 months!Theres a £15000.00 difference in the 2 loans final payments. I think thats worth fighting for.

Hope this hasnt been TOO boring.

 

Thanks

 

Hello V,

 

Unfortunately the banks are in the business of making profit, and will muddle you with figures. Did your girlfriend choose to have ppi or were they made as a condition of getting the loan:eek:

 

They obvious knew she was having financial difficulties and came in for the kill.

 

Maybe instead of argueing about the difference with the loan amounts, you should go after them for the ppi on all of the loans:D

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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thanks hhnf for your reply.

She asked for some insurance unfortunately, but wasnt offered an alternative company. Thats what makes it so galling.(?)

£12000 on top of the cash loan of £19000 just seems so unfair, especially as i know now , of other brokers. I know theyre in the business to make money but surely there must be some sort of duty of care. I know that sounds like bs.

Am i right in thinking you have no recourse if you say to the ombudsman , i wasnt told of cheaper alternatives?Just seems like a con.! An unbelievably expensive one to the more vulnerable people. Ive learnt a lot these last few months and im so grateful to have stumbled over you and others here on this site. As press reports show, PPI is the most profitable thing the banks have.It is unbelievable the more you delve into it.

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