advantage finance

[vulcanswb3a]

i had car on hp from advantage finance which i voluntarily terminated at the half way point off the agreement i owed no more money on the car but i had to pay off the rest off the ppi over the next 18 months when i bought the car i was told the ppi was compulsory can i now claim the ppi back :???::???:

[dj1971]

Vulcan,

 

The short answer to your question is YES you certainly can.

 

Just write a letter to the finance company stating the reasons you believe you were mis sold and enclose a spread sheet with all your calculations.

 

Don't forget to send the letter either special or recorded delivery and keep your receipt as proof of delivery.

 

Good luck

 

DJ

[vulcanswb3a]

thanks for the reply i have not go the account info any more do i need to sar them thanks vulcan

[dj1971]

Yes, that is the best way to get the ball rolling.

 

DJ

[vulcanswb3a]

i have now got the info back from advantage finance how do i workout how much i should claim for first claim £274 start date 21/05/2005 intres rate 48.32% claim two 1276 satrt date 23/02/2006 intrest rate 23.63%

Edited October 20, 2010 by vulcanswb3a

[dj1971]

How many repayments did you make on each loan?

 

DJ

[vulcanswb3a]

first loan paid for ten months then it was rolled over in to the second loan which was paid for 30 months

Edited October 21, 2010 by vulcanswb3a

[dj1971]

What was the monthly repayment on each of the loans?

 

DJ

[vulcanswb3a]

the first loan was 15.05 and the second was 42.56 thanks vulcan

[dj1971]

Something doesn't add up here Val,

 

1274+276 =1550

 

(15.05x10) + (42.56x30) = 1427.30

 

Therefore you would not even have paid back the PPI, let alone interest on top.

 

DJ

[vulcanswb3a]

sorry i put the wrong figures down the first loan repayment was 109 .65 for 24 months but was rolled in to the second loan after 10 months the second loan was 279.81 per month for 30 months the car was vt ed after 15 months but i still had to pay 42.86 for the next 15 months to pay off the ppi

[vulcanswb3a]

i have just got my reply from advantage finance they are saying that in their opinion the ppi was sold correctly and that if iam unhappy with this response then i should write to them a explain why and they will reconsider the matter and that they will then issue their final response do i need to go throw this or can i go straight to the fos thanks vulcan

Edited November 1, 2010 by vulcanswb3a
adding more info

[dj1971]

Vulcan,

 

There certainly is no harm in phoning the FOS and asking them for advice. However I suspect they will suggest you must allow Advantage the statutory 8 weeks to investigate the claim in full and suggest you provide the information requested.

 

What are your reasons for claiming mis-sold on the PPI?

 

DJ

[theoldrouge]

susan please start your own thread

 

we can help with this

[Susan bw]

susan please start your own thread

 

we can help with this

 

I am new and not sure how

[Susan bw]

Oh i think i found it ha