Jump to content

  • Tweets

  • Posts

    • Hi, I have found this group very helpful hence I am here seeking help and advice.   I got myself into a situation where I have now more than £50k in unsecured debts (personal loans & credit cards) and things are now getting out of control as I am struggling to make payments. This is purely my own created situation and I am taking 100% responsibility for it. I am keen to get out of this situation as soon as possible hence I would appreciate any help and advice in this process. I am employed at the moment and don’t want to risk going into IVA or bankruptcy as this would risk losing my job. Being sole bread earner of my family, I cannot afford to lose my job. I have been trying to keep up with the payments so far and had few missed payments instances until 3/4 months ago but got caught up with missed payments somehow using my savings. All my debts are still with original lenders. However I know I am getting into same situation again shortly and won’t be able to get out of it again. I have started exploring Debt Management Plan (DMP) option through StepChange but haven’t submitted it yet. Based on budgeting, I have around £820 available to make payments to all lenders after taking care of all other essential expenses. This is definitely lot more affordable than what I am currently paying to different lenders. 1. Is DMP right option for me in current situation? 2. what are the negative consequences of availing DMP? 3. is there something else that I can do to get out of this situation? I’m determined to clear out all my debts but need bit of breathing space and time. Let me know please if you need any additional information. Thanks in advance for all your help and guidance. MM  
    • Bookmakers use betting on political events to entice new customers, and say it is growing.View the full article
    • nope  and  neither dx
    • Ok Thank you DX will do just that . will keep you up dated.
  • Our picks

    • If you are buying a used car – you need to read this survival guide.
      • 1 reply
    • Hello,

      On 15/1/24 booked appointment with Big Motoring World (BMW) to view a mini on 17/1/24 at 8pm at their Enfield dealership.  

      Car was dirty and test drive was two circuits of roundabout on entry to the showroom.  Was p/x my car and rushed by sales exec and a manager into buying the mini and a 3yr warranty that night, sale all wrapped up by 10pm.  They strongly advised me taking warranty out on car that age (2017) and confirmed it was honoured at over 500 UK registered garages.

      The next day, 18/1/24 noticed amber engine warning light on dashboard , immediately phoned BMW aftercare team to ask for it to be investigated asap at nearest garage to me. After 15 mins on hold was told only their 5 service centres across the UK can deal with car issues with earliest date for inspection in March ! Said I’m not happy with that given what sales team advised or driving car. Told an amber warning light only advisory so to drive with caution and call back when light goes red.

      I’m not happy to do this, drive the car or with the after care experience (a sign of further stresses to come) so want a refund and to return the car asap.

      Please can you advise what I need to do today to get this done. 

      Many thanks 
      • 81 replies
    • Housing Association property flooding. https://www.consumeractiongroup.co.uk/topic/438641-housing-association-property-flooding/&do=findComment&comment=5124299
      • 161 replies
    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

      Frankly I don't think that is any accident.

      One of the points that the judge made was that the customers contract with the broker specifically refers to the courier – and it is clear that the courier knows that they are acting for a third party. There is no need to name the third party. They just have to be recognisably part of a class of person – such as a sender or a recipient of the parcel.

      Please note that a recent case against UPS failed on exactly the same issue with the judge held that the Contracts (Rights of Third Parties) Act 1999 did not apply.

      We will be getting that transcript very soon. We will look at it and we will understand how the judge made such catastrophic mistakes. It was a very poor judgement.
      We will be recommending that people do include this adverse judgement in their bundle so that when they go to county court the judge will see both sides and see the arguments against this adverse judgement.
      Also, we will be to demonstrate to the judge that we are fair-minded and that we don't mind bringing everything to the attention of the judge even if it is against our own interests.
      This is good ethical practice.

      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.


      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
        • Like

Advice required re The funding Corporation/Axa PPI reclaim

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4134 days.

If you need to add something to this thread then


Please click the "Report " link


at the bottom of one of the posts.


If you want to post a new story then


Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 



Recommended Posts

Hi everyone


I'm new to all this and am just starting the road to reclaiming several lots of PPI!

My first one is with The Funding Corporation. Unfortunately we are only going by the paper work we have as we can't remember the details.

Basically we took out a loan with TFC for £10,000 plus PPI for £2170, plus interest at 6.9 totaling the loan to £14,505 of which £2587 is PPI.

Husband had a full time fab job with full sick pay etc etc.

He also had life insurance. We would never have knowingly added £2587 to a loan without thinking it was compulsory.

It appears to me this is 'front loaded PPI'? is that right?

However we have lots of paperwork that makes it look like we knew what we were doing.

There is a tick in the PPI box where we have signed. There is a Policy number and agreement.

There's also a dodgy looking 'Demands and needs statement' where 'in the event of my death' box is ticked. Bizarre seeing as if anything happened to other half we would be well taken care of.

By the looks of it we settled end of June 2006:-

balance outstanding £13,501.04

rebate of charges £1,792.77

rebate of insurance premium £50

amount acceptable in settlement £11,658,27


TFC name is all over everything except looks like loan is provided by Capital One and insurance by AXA.


My questions are (if you've made it this far and aren't as confused as I am)

Do we have a case?

Confused by the excel interest thingy, how much interest should I be adding and where?

Should I go straight to AXA?


Does it matter that we looked like we really wanted this insurance, even though we know it was mis-sold as part of the loan. God only knows how we were so gullible!


I am useless with numbers and my husband is far too busy to waste as many hours as I am on this (I'm the one instigating and pushing this).


Your thoughts would be amazing and I am totally in awe of those that have made it this far!!


I have posted this on another forum, hope that's OK? :oops:

Link to post
Share on other sites



To answer your questions


It appears to me this is 'front loaded PPI'? is that right?


Yes, front loaded or single premium....all the same thing


Do we have a case?


I would say you can put a case together, yes


Should I go straight to AXA?


FC are your initial target


Does it matter that we looked like we really wanted this insurance, even though we know it was mis-sold as part of the loan.





You should be using this spreadsheet


StatIntSheet v101.xls


Your PPI payment is 17.83% of each monthly repayment you made and it is that figure which you need to list in the spreadsheet.


If you have a read of No.1 in my signature it tells you how to deal with the early settlement as well.


Also have a look in the PPI stickies...there is an item in there headed "Notes for Claimants" which will help you with the most common reasons for mis-selling.


Any queries, shout here


Link to post
Share on other sites

Thank you! very grateful.


So in the spreadsheet where it says amount of charge do I put £2587.80?




The PPI is 17.83% of the total repayment every month. So take the monthly repayment and work out what 17.83% of it is.


For example, suppose your monthly payment was £300 then 17.83% of it is £53.49.


So in the spreadsheet you create a list of payments of £53.49. One entry for each monthly payment you made. You will end up with a list of entries for £53.49 and each of them will have a different date....the date you made the repayments.


Have you read the article at No.1 in my signature? If not then please do so as it has a lot of detail in there and will help you when you get to the settlement figure calculations.


Link to post
Share on other sites

  • 2 months later...

Hi - just checking whether you made any progress with this? I have got nowhere with my claim against TFC - my loan was taken out in 2004, before they were regulated. However, someone on here has just had success with FOS and AXA - http://www.consumeractiongroup.co.uk/forum/showthread.php?354114-cap1-The-Funding-Corporation-PPI-Rejection-**WON-THROUGH-AXA** .


Are you still dealing with TFC or did you go to AXA?

Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?

  • Create New...