HFC Debarcle

[cherylwozny]

I have received one payment from HFC for one loan for 7 months ending in December 2001.

 

There were 8 other loans which they say they had no paperwork on and therefore I should go away.

 

I was lucky enough to have a credit expert printout which listed all the loans giving the term and monthly payment.

 

I have written to HFC giving them a copy of the print out and telling them that the fact that they could find one loan from 2001

but not the last one settling in 2005 is astonishing and that unless they make a sensible offer I will issue County Court proceedings.

 

Can somebody tell me how I can work out what the compensation is likely to be.

 

The payment I have just received was for £380 on 7 months of payments at £285 over 180 months.

 

I would be very grateful for any assistance.

Thank you

[ims21]

To work it out you will really need the agreements and record of payments made on each account.

 

For example you would need to know the percentage of PPI to the total loan and a record of how many repayments were made on each.

 

If any of the loans refinanced a previous one then you need also to consider any PPI rolled from one loan into the next and any rebates you might have had when the loans were paid off.

 

A SAR to HFC may be a good move if you haven't got all of the data on the accounts.

[cherylwozny]

Thank you ims21. I have already SAR'd and telephoned and they say they dont have any other records apart from the second loan in time. Looking at all the dates they do appear to roll from one loan to another. I will just have to wait to see what they say to my letter. However my theory is that if on the second in time loan we paid 7 months and they paid £380 in compensation then on the balance of probabilities PPI was paid and therefore they owe me. I'll let you know how I get on.

[cherylwozny]

To update. It would appear I HAVE NOT done SAR which will be going tomorrow. I have also received a letter daying they do not intend to pay up despite the mentioning the credit file being enclosed which lists all of the loans, the dates started ended and the terms of the loans together with the payments made and how many were made. I intend to write again and in the meantime wait for the SAR. I will also request copies of the certificates of desruction on the accounts with the exception of the second one in time which they have paid up on. Ill keep you posted