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HFC Loan - Mis-sold PPI and Other Queries


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Hello Everyone

 

I thought I would join the forum and ask for advice since there seems to be so many people who are in the know, or know what to do....I can't seem to find anything like my situation so I will post in the hope someone can advise, or move my post to a relevant area.

 

On 28.5.05 my partner at the time (we are now married) and I visited Beneficial Finance for a loan.

 

We asked for £7000 and were told that the loan would only be approved if we also took out PPI.

 

The problem is we only made 3 payments of £301.37 per month before things got difficult and we decided to go to CCCS and do a DMP.

 

To be honest you will read this and wonder how we were so so stupid....

 

So, here is the figures:

 

Amount of Loan - £7000

Interest on Loan - £6069.20 (31.8%

Total Loan - £13069.20

 

PPI

Decreasing Life Assurance (Joint) - £1054.20

Accident, Sickness, Unemployment - £1631.02

Total for PPI £2685.22

Interest at 31.8% - £2327.78

Total - £5013.00

 

TOTAL AMOUNT PAYABLE.....£18082.20

@ £301.37 per month for 60 months.

 

So, we paid June, July, Aug at £301.37 - meaning we had paid £904.11.

 

In January we were in arrears by 3 months £1194.85 (I know this doesn't quite calculate but I am going from letters).

 

Jan 8th - Letter from Beneficial stating Balance of £17227.46

 

12 days later - Jan 23rd - Letter from Weightman's (I presume their in house Sols) stating balance was £19654.66.

 

DMP set up Feb 2006....since then we have been paying and have paid £3530.11 of the debt - not that the figures match, Weightman's state £14862.35.

 

I recall a few years back they said they had removed some of the PPI, but the situation is, is there anything I can do ? Could the PPI and interest be removed ?

 

I was actually unemployed at the time this loan was signed, my husband working full time.

 

I am currently going to try and do my DMP as CCCS have made some major errors and I am going to find out all balances etc myself so I know where I am.

 

We have paid £8341.05 so far back to our creditors.

 

I would be grateful for any advise, or a point in the right direction, I have called Weighman's and I am coposing a letter to the person dealing with my case.

 

I have no problem paying for the loan itself and interest, however if I could get some kind of reducation due to mis-selling etc it would be good.

 

I haven't seen any PPI/Interest posts when people are not paying the full amount/finished the loan - anyone on repayment plan ??

 

Charley x

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  • 1 month later...

Charley. After working for HFC for a period of time. I can safely bet my bottom dollar that you can get your PPI and subsequent interest refunded. HFC were fined £1m in 2008 for PPI miss selling - not providing proof if it was suited to the customer's needs etc and also such situations where CAMs (Customer Account Managers) actually miss sold it to the extent of advising it was a condition of the loan (which is ridiculous).

 

Also just before I left / 100 Bene branches were made redundant there was a country-wide uplift of old legal files from the branch level to the head offices in Winkfield. Now I also wouldn't be suprised if they have lost the copy of your original legal file and if that is the case I'm of the understanding you could get the entire thing written off? Correct me if I'm wrong?

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This is the case with my loan, I sign up with Beneficial Finance and now my office has closed, after a request for he agreement it came back blank..

 

I were too told that I could do the loan as long as i get PPI My loan was around the £5k mark.

 

I am currently in the process of getting this debt removed. but here is a question...

 

If they have not got a signed copy of the agreement then have I been paying a debt that doesnt exist? therefore am I entitled to get back what I have paid?

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If HFC cannot provide you with a signed copy of the legal agreement for the loan then yes I believe it can be written off. If however they can find it you should still enquire into the miss selling of the PPI since they were fined for it back in 2008.

 

When was it that you took the loan & from which branch?

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I took my loan out with Hamilton Direct Bank in 2005. Now taken over by HFC. Have sent a CCA request but received no reply yet.

 

Will post up when i do. Its good a couple of us are dealing with HFC at same time, cam compare notes and results.

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I took the loan out in 2004 from the Oldham branch which is not closed.

 

I have my agreement here but the one they have is blank....write your loans off (aka Joshua Brooks) said its defo agood point for me as well as having the PPI!

 

Ice = it is good to compare notes and experiences and what what makes this site brilliant and the donations are key to its survival!

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Hello Everyone

 

I thought I would join the forum and ask for advice since there seems to be so many people who are in the know, or know what to do....I can't seem to find anything like my situation so I will post in the hope someone can advise, or move my post to a relevant area.

 

On 28.5.05 my partner at the time (we are now married) and I visited Beneficial Finance for a loan.

 

We asked for £7000 and were told that the loan would only be approved if we also took out PPI.

 

The problem is we only made 3 payments of £301.37 per month before things got difficult and we decided to go to CCCS and do a DMP.

 

To be honest you will read this and wonder how we were so so stupid....

 

So, here is the figures:

 

Amount of Loan - £7000

Interest on Loan - £6069.20 (31.8%

Total Loan - £13069.20

 

PPI

Decreasing Life Assurance (Joint) - £1054.20

Accident, Sickness, Unemployment - £1631.02

Total for PPI £2685.22

Interest at 31.8% - £2327.78

Total - £5013.00

 

TOTAL AMOUNT PAYABLE.....£18082.20

@ £301.37 per month for 60 months.

 

So, we paid June, July, Aug at £301.37 - meaning we had paid £904.11.

 

In January we were in arrears by 3 months £1194.85 (I know this doesn't quite calculate but I am going from letters).

 

Jan 8th - Letter from Beneficial stating Balance of £17227.46

 

12 days later - Jan 23rd - Letter from Weightman's (I presume their in house Sols) stating balance was £19654.66.

 

DMP set up Feb 2006....since then we have been paying and have paid £3530.11 of the debt - not that the figures match, Weightman's state £14862.35.

 

I recall a few years back they said they had removed some of the PPI, but the situation is, is there anything I can do ? Could the PPI and interest be removed ?

 

I was actually unemployed at the time this loan was signed, my husband working full time.

 

I am currently going to try and do my DMP as CCCS have made some major errors and I am going to find out all balances etc myself so I know where I am.

 

We have paid £8341.05 so far back to our creditors.

 

I would be grateful for any advise, or a point in the right direction, I have called Weighman's and I am coposing a letter to the person dealing with my case.

 

I have no problem paying for the loan itself and interest, however if I could get some kind of reducation due to mis-selling etc it would be good.

 

I haven't seen any PPI/Interest posts when people are not paying the full amount/finished the loan - anyone on repayment plan ??

 

Charley x

 

Your agreement is allegedly null and void because of the PPI. You should either contact the FOS about removing the PPI or see into a third party rendering the account unenforceable. I went with write your loans off in manchester and they secured me £18k back plus my PPI! Small fee to pay to have your creditors off my back now.

 

Hope this helps!

:pTOPBANANA:p
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  • 2 weeks later...

Hi there, I have heard from HFC on quite a few occasions, all they will give me is £435.00 in cash or £1969.00 off the loan amount that is held with weightman's.

 

This is a final offer, therefore I am going to have to go to the ombusman, they say they have spoken to the ombudsman (???) and they have been told their offer is fair.................any advice ? I want £5013.00 off !!!!!!!!

 

Help !

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  • 2 weeks later...

Dan1980

You having worked for HFC I took out a couple of loans quite a few years ago. They were paid off but I wanted to know if I could claim the PPI if any I had on these finished loans?

Thanks a lot.

GUESS30

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Dan1980

You having worked for HFC I took out a couple of loans quite a few years ago. They were paid off but I wanted to know if I could claim the PPI if any I had on these finished loans?

Thanks a lot.

GUESS30

 

yes you can.

 

start your own thread in the ppi forum.

 

your best bet would be to read the notes for claimants sticky by clicking the blue underlined forum name at the top in that forum.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 1 year later...

hi everyone I have a loan which was from HFC bank from way back in the early 2000s. thinking back it was around 2004. from the Oldham Branch which is now closed. I defaulted on the loan as i was paying around £250 pound a month but i paid it weekly directly at the branch

the loan wasn't taken out all at once it was over the space of 12 to 18 month in total of 4 extentions of as little at £700 each from an original £1500

About 12 months back HFC Bank or weightmans the company they sold it to have taken it through legal proceedings and got a deduction from earnings which is £100 a month.

I was never to well up on loans at the time and I still not but i'm sure I been mis led when taking it out.

 

My Main Question is how do I go about looking into this matter to find out if i been mis-sold ppi or have been wrongly sold this loan.

when i got it. at the max is was £9000 but prob not even that but when the deduction from earnings was set up it said i owed over £24000.

 

I have lost all documents for this as I'm no longer with the partner I was with at the time and she has now since move house and has no documentation regarding this at all.

 

I would be very grateful for anyone who could help or has had a similar situation and could give me some insight into it.

 

Thank you

 

Njenks

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  • 1 month later...

Hhi Njenks

 

First of all it is best if you post on your own thread as this one is pretty old and is probably finished with.

 

First of all..you can only request the ppi back if you were mis sold it in the first place. If you asked for ppi / all details were give to you / you made claims on the insurance then imho you are not able to reclaim

 

You need to complete a SAR DPA which will result in you receiving a lot of documents and print outs regarding your business with hfc. From this you will be able to see how much PPI was added to the loan. You will also be able to check how many chargs were applied.

 

The procedure is as follows:

DPA SAR

Preliminary letter to hfc asking for you charges nd ppi to be refunded

Follo up letter requesting refund

Letter before action

If or when you get their final answer you can escalate the claim to the FOS

 

This is not a quick procedure. A friend I am helping is still waiting after 10 months..altho we are almost there with the claim.

 

The letters you need are on the site. Beefore you start, make sure you have read and understood the process..as mistakes are hard to fix.

 

Good luck and keep us updated!

All advice is based on my experiences. I am NOT qualified and as such cannot be held responsible for any mistakes. If in doubt...get professional help.

If you like what i have said then make me a star!!

Some helpful links

I have been successful in many cases..here are links to some

Housing Act and deposits: http://www.consumeractiongroup.co.uk/forum/showthread.php?266260-Deposit-being-withheld.-Please-advise&highlight=

Against Natwest: http://www.consumeractiongroup.co.uk/forum/showthread.php?278646-N-west-v-Mrsfoot-s-Son.-***WON_ALL-CHARGES-REFUNDED***&highlight=

Against Swift Advances: http://www.consumeractiongroup.co.uk/forum/showthread.php?46576-Me-V-Swift&highlight=

Against B&Q: http://www.consumeractiongroup.co.uk/forum/showthread.php?172878-Me-vs-B-amp-Q&highlight=

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