Welcome/Makenzie Hall

[dx100uk]

surely the PPI/charges are what they are already taking off the sum owed to get their figure?

 

don't worry about the rubbish they post

as you are finding

they make up the rules as they go long.

 

dx

 

dx

[lincscouple]

Hi Dx,

 

Could you have a look through these figures and give me your opinion please?

 

Total loan amount £6173.79

Total loan repayment £125.93 * 120 = £15111.60

 

Total loan actually repaid £10079.54

 

Difference of £5032.06

 

Charges and PPI redress £3932.06

 

Given that this would show a shortfall of £1100 if I were to successfully reclaim both the charges and PPI, do you think it worth trying to see if they will accept half of the £1100 ( one half being my partners and the other half being her ex husband)

 

Hope i have made it clear?

 

Spreadsheets attached

[dx100uk]

in relation to earlier file showing all the payments etc

 

theres something wrong

 

the balance after the monthly payment keeps going up

 

is the int rate right?

[lincscouple]

Do you mean this one?

[dx100uk]

yep

seems to only go down by £17 each month

 

does that equate to their quoted int rate?

 

dx

[lincscouple]

That is an exact match to the statement we were sent, just under £15.00 per month went to paying the loan.

 

The Annual Interest Rate on the statement reads at 21.60%, the Agreement shows 1.8% Rate of Interest variable per month and an APR of 24.3%

[dx100uk]

urm...

 

try reconstructing the loan

[lincscouple]

Here it is

[dx100uk]

ah yea forgot the term was 10yrs!!

 

 

 

ok then scrub that

 

what about the PPI reclaim on the other loan

can that help pay the outstanding?

 

dx

[lincscouple]

The other loan was taken out in his name only unbeknown to my partner, it has the same Customer Number but a separate Account Number.

 

I can see them saying that she can't claim on that loan.

 

although the PPI stands at 571 and the charges at 854

[dx100uk]

i'd just put the reclaims in and see what happens.

 

is the end result here a clear cra file

to enable say a mortgage

or just a wish to deal with the debt?

 

dx

[lincscouple]

Thanks,

 

It is really to get rid of the debt, no need for mortgage.

[dx100uk]

why do you think you need to get rid of it?

 

dx

[lincscouple]

My partner is a worrier, already on anti depressants, her ex left the country leaving a trail of debt and she is linked to it all.

 

I've got rid of the smaller ones but this is the biggest so far. I don't mind ignoring the damn letters and threats but she worries and frets.

 

I'm also fighting HMRC over WTC overpayment demands but they have failed to act on information recieved and it's their error that has caused over 1K of debt. Local MP is helping on this though.

 

What would be your plan of action if this were you? I am going to get her to assign all dealings over to me so she won't have it to worry about.

[dx100uk]

i'd get the reclaims in

and then deal with the outstanding balance at £1PCM or whatever AFTER its been reclaimed mind!

 

there actually could be scope here for them to write off the remaining balance

 

a small 10yrs loan like that

is IMHO irresponsible leaning purely designed to fleece people.

 

i'd love to see anyone try and enforce the outstanding balance in court on this

the judge would eat them for breakfast

esp if the hidden commission issues were revealed

 

dx

[lincscouple]

If I were to get her to assign all dealings over to me, would I be able to defend her in court? or would it have to be her or her solicitor?

 

I'm more than happy to keep passing the ball over to them in the hope that it goes to court BUT only if she could be left out of it.

 

I agree that 6K over 10 years is stupid, apart from the fact that a5K would be paid back, the loan would have outlasted the windows that it was for

[dx100uk]

IMHO 100/1 outside chance of it ever going to court for £1100.

 

pers i'd do the reclaiming and forget it then

 

and see who they sell it too

 

dx

 

 

dx

[lincscouple]

Thanks for that, my mind is made up, Im getting it assigned to me, doing the reclaim then see how they want to play.

 

Your mean reclaim on the outstanding and not both, right?

[dx100uk]

no harm in doing both loans

 

dx

[lincscouple]

How do I go about the PPI claim if we don't have any documentation regarding the cover IE policy numbers, companies etc?

[dx100uk]

you have the details in the sar in post 28 you said

 

dx

[lincscouple]

Everything but, see post http://www.consumeractiongroup.co.uk/forum/showthread.php?378319-Welcome-Makenzie-Hall&p=4422826&viewfull=1#post4422826

 

also post 42

[lincscouple]

In addition to the above, I am just checking through the spreadsheets and making sure I have everything entered but something has hit me..

 

On the HP loan, I had down 12% APR but in fact the 12% is AIR, I used the loan analysis spreadsheet to find the APR and it came back as 0%..

 

The loan has had the interest front loaded so how would I work out the APR on this?

 

Initial loan of £6730.00 and int paid £3501.64. Total loan amount £10796.64.

[dx100uk]

Interest/Principal

[lincscouple]

Principal being the 6730.00 or 10796.64?