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Loan interest and charges


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Hi

 

I have just received SAR info from 2 loan providers and I want to apply to have the interest and charges refunded under the hardship rules. I cannot find templates or the process any where- can someone please help? Thanks

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You don't have to be in hardship to claim back penalty charges.

 

Can you give us more of the background on these loans and the names of the loan providers?

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

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3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

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5. Feel Bullied by Creditors or Debt Collectors?

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6. Staying Calm About Debt

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7. Thinking of a Full & Final Settlement?

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Hi

 

Will be as comprehensive as I can:

 

Black Horse, borrowed £6000 in July 2008 over 60 month period. Struggled by December 08 as work in sales and badly hit by recession, (not earning commisions) and then made redundant in May 2009. During this time I continued to make payment on this account, although redunced ones and some months missed. Have pretty much contined with reduced payments throughout the life of agreement. Currently held by Ascent but not in Default (sort of wish it was!) Experian just states it 6 payments behind. Not sure how much I have paid but can work out. I have just received full SAR info and in interest and charges I have paid £4006.38- my balance is £6736.78.

 

Welcome, Havent received SAR info yet but they have cashed cheque and acknowledge my letter. I took out one loan years ago, got into difficulty and they offered to re write the loan at lower payments. Have been paying since 2007/8 borrowed 3k and have paid on avarage £80 per month. Owe close to 3k still. Have had periods of non payment due to redundancy.

 

Hope thats enough background. I would like to say this is genuine hardship. Last year in Jan 12 I was made redundant again! I didnt find another job until Nov 12 and I took a 15k pay cut!!! I barely have enough money to eat.... looking for better paid role but not hopeful.

 

Any help massively appreciated.

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There are template letters here which you should amend to suit your purpose.

 

http://www.consumeractiongroup.co.uk/forum/content.php?609-Can-t-find-the-letter-you-want-Look-here

 

Also prepare a spreadsheet for each loan account that you are claiming back on...use this one and follow the instructions in the notes tab.

 

CISheet v101.xls

 

It could also be an idea to write to the lenders telling them of your hardship and asking them to freeze interest while you make reduced payments so that you at least have some chance of reducing the amounts outstanding.

If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

If you are approached (or have been approached) by private message with an offer of help "Off Forum" or with a view to asking you to visit another website, please inform the site team via the report icon, especially if this results in a request for a fee. Remember, this is for your own protection

my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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