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PPI on a defaulted loan


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Morning all,

 

I thought I would ask this question on a new thread as it will probably be relevant to others.

 

How do you work out how much PPI is to be paid back on a defaulted loan?

 

In my own case I paid 21 payments out of 45.

 

Thanks in advance

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why do you think a defaulted loan is any diff?

 

follow the std advice on the fos website and their complaint forms and their pdf's

 

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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Hi xboxer

 

Get the ppi cancelled from now.

 

Calculate your claim on the payments you have made to date.

 

The "future" part of the ppi (which you are now cancelling) should be credited back the account.

 

You put your claim in for the amounts actually paid in the normal way

 

ims

 

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Hi ims,

 

It was defaulted In 2005, 3 times in may then once in October!

 

Impossible I know but this is what the paperwork says!

 

The last payment was in Feb of 2005, then I had 7 months of interest and charges added before bh got a ccj and charging order that was then paid in full!

 

All of this went undefended at the time for various reasons.

 

So as you can see I'm having a slight problem working this one out lol

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Oh I see

 

So effectively by paying the CCJ you've actually paid the whole loan off then. So nothing to cancel.

 

If it were me, I would be claiming your 21 payments + 1 large payment (the clearance of the loan) + interest from the dates each of these were made.

 

ims

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That's what I thought. With the 1 large payment working out the percentage of PPI on the remaining balance of the loan BEFORE charges and additional interest (FEB 05) as that would be a true reflection of what was owed.The charges, 4 defaults and 7 months of interest I will challange seperately.Or maybe I'm over confusing things lol

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