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I have come across an old loan agreement with HFC Bank

in which I do recall the salesperson at my local branch stating that

I had to take out insurance for the loan to be successful and because of my age.

 

On the agreement it states a single premium amount of £80.89.

 

The loan was for 36 months @ £32.10 = £1,155.60

APR 31.20%

Loan amount £750.00

Total interest payable £374.71

 

Can someone kindly explain how I calculate monthly PPI & Interest amounts in order to add figures to the single premium calculator spreadsheet ?

 

Thanks

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Have you read the item at No.1 in my signature ( I can't recall if you did with one of your other threads :-( )

 

If not, the method is detailed there.

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

 

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Have you read the item at No.1 in my signature ( I can't recall if you did with one of your other threads :-( )

 

If not, the method is detailed there.

 

Cheers ims21 just found it lol !

 

So therefore total loan was £750.00 plus Insurance of £80.89 = £830.89

 

£80.89 / £830.89 x 100 = 9.74%

 

monthly payment = £32.10 x 9.74% = £3.13 PPI per month

 

does this look right ?

 

Cheers

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That's the one :-)

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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:thumb:

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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:thumb:

 

Cheers again ims21, not holding much hope on this one as no details re SAR. The usual older than 6 years.....................because account has been paid and closed (how do they know that then?) and details destroyed etc.

 

Rejected my SAR twice on the basis, no proof submitted, then wanted my passport details as well as driving licence. Now they cannot trace any details.

 

So I have now just sent miss-selling letter, with agreement and insurance details but I know what's coming next (request for bank statements showing direct debit payments) as I have been reading various HSBC / HFC bank posts. :sad:

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  • 2 weeks later...
Cheers again ims21, not holding much hope on this one as no details re SAR. The usual older than 6 years.....................because account has been paid and closed (how do they know that then?) and details destroyed etc.

 

Rejected my SAR twice on the basis, no proof submitted, then wanted my passport details as well as driving licence. Now they cannot trace any details.

 

So I have now just sent miss-selling letter, with agreement and insurance details but I know what's coming next (request for bank statements showing direct debit payments) as I have been reading various HSBC / HFC bank posts. :sad:

 

Just an up-date regarding my original PPI complaint.

 

Today received a letter from HSBC again stating that no details can be found under the loan account number

but in order to investigate my claim please could I complete FOS questionnaire

and provide any further evidence including final payment date and amount paid ?

 

I had already sent the original agreement, clearly stating terms of loan and insurance details - is this not enough proof ?

 

 

Are they requiring copies of old bank statements in which I obviously will not have ?

 

 

What I cannot understand is that they actually stated that the loan was closed

- How did they know that when they say that they don't have any details ?

 

Shall I just complete the FOS questionnaire and return with what I have ?

 

Also as per my previous SAR - Shall I complain to the ICO for failure to provide details regarding any destroyed information ?

 

Any help what to do next would be appreciated as HSBC seem to be another frustrating outfit to deal with !

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ideally you should send an fos CQ with every PPI reclaim you make

 

 

HFC are well know for having basic info that they don't ever reveal.

if they are relying upon it in the letter

you need to ask them to return copies of the info they rely upon toward any decision

 

 

the reason they ask for bank statements over the period is for you to prove you paid over the full term.

 

 

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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ideally you should send an fos CQ with every PPI reclaim you make

 

 

HFC are well know for having basic info that they don't ever reveal.

if they are relying upon it in the letter

you need to ask them to return copies of the info they rely upon toward any decision

 

 

the reason they ask for bank statements over the period is for you to prove you paid over the full term.

 

 

dx

 

A belated thank-you dx.

 

So why did they not disclose information as per my SAR ?

 

Surely if they state that the account was closed then they must have information to confirm this ?

 

I will complete the FOS questionnaire anyway and return to HSBC.

 

Bazza

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stick to ONE REASON for the reclaim.

 

 

don't scatter gun.

 

 

and yes ofcourse you need to pull HRC up on the lack of this data in the sar return.

 

 

give them 14 days to supply it

before you involve the ICO in a formal complaint.

 

 

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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stick to ONE REASON for the reclaim.

 

 

don't scatter gun.

 

 

and yes ofcourse you need to pull HRC up on the lack of this data in the sar return.

 

 

give them 14 days to supply it

before you involve the ICO in a formal complaint.

 

 

dx

 

Well dx they returned my cheque saying the account was closed and they had no details of the account ?

 

So I sent them a copy of the agreement that I had with a ppi mis-selling complaint and now they are requesting single premium agreement and confirmation and proof of last date of payment.

 

Should I just re-submit another SAR but not mentioning account numbers but specify that details should be in respect of name only ?

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why not send it to HFC themselves not hsbc?

 

 

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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why not send it to HFC themselves not hsbc?

 

 

dx

 

Sorry dx, I was advised to contact HSBC as HFC were part of them ?

 

Would you kindly advise SAR contact details for HFC thanks.

 

Cheers

 

Bazza

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in the stickies of this forum baz

as always

 

 

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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it would also serve you well to read that users threads too

 

 

rdm2006 user-offline.png

 

 

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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  • 1 month later...
Sorry dx, is it still this address ?

 

the data controller

SARicon requests

HFC Bank Limited Registered Office:

Camden House West,

The Parade,

Birmingham B1 3PY

 

Cheers baz

 

Can anyone confirm if the above address is still correct ?

 

Thanks

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prob go check companies house

 

 

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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ok dx will have a look thanks.

 

Still not getting anywhere with HSBC.................rejection letter after rejection letter :evil:

 

Requested signed driving license and passport details as per SAR (sent to R/O) but I received today all the documents I had sent over a month ago with my cheque asking again for the mentioned details ??????? They are becoming rather frustrating to say the least !

 

In the meantime I have located some old Midland Bank / HSBC bank statements with proof of HFC loan payments but not all. Don't know what to do next as I had requested full details under my said name but they did not even acknowledge my old bank account even though I had given them an account number ????

 

Any advice would be appreciated.

 

Thanks

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please hsbc can I have my statements

 

 

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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please hsbc can I have my statements

 

 

dx

 

Thanks dx but that's what I did previously request and sent it to Canary Wharf address and they must have passed details to the Coventry address.

 

Request was date stamped and took about 6 weeks, so 40 days have now been surpassed.

 

Any suggestions as to who I should now contact regarding my bank statement request ? Is there another HSBC address that I can try ?

 

Cheers

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HFC Bank

PO Box 1520

Birmingham

B1 3PR

 

 

28 October 2009

 

Dear Sirs

 

Re: Name Account Number ACCOUNT IN DISPUTE

 

I am in receipt of your letter of 13 October 2009 in which you have replied to my Section 77 request and thank you for the enclosures.

 

However, I would remind you again that I sent a Subject access requestlink3.gif, under the Data Protection Act 1998, on 18 May 2009 by recorded delivery and I sent you a payment of £10.00 which you cashed. I requested all of the information that you hold on your files about my account. You have failed to supply the information within the time allowed of 40 calendar days.

 

In addition to copies of all the information held on my file I would particularly request a copy of the original signed credit agreement. I realise that you have already sent me a copy of the agreement, which you claim is a copy of the executed loan agreement and it would therefore appear that this is the agreement you would look to enforce.

 

If I am mistaken in forming this opinion please provide the copy requested above. I would also point out that this account is still in dispute due to your failure to provide me with the information I have been requesting. If in fact you do not have a signed agreement I would request that you confirm this to me rather than avoiding your responsibilities and continuing to cause me stress and concern.

 

I trust that you will now supply me with all of the information requested and I look forward to receiving this information in due course.

 

 

Yours Faithfully

 

Feelingglow

 

Feelingglow

.................

nicked from her thread

adapt to suit.

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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HFC Bank

PO Box 1520

Birmingham

B1 3PR

 

 

28 October 2009

 

Dear Sirs

 

Re: Name Account Number ACCOUNT IN DISPUTE

 

I am in receipt of your letter of 13 October 2009 in which you have replied to my Section 77 request and thank you for the enclosures.

 

However, I would remind you again that I sent a Subject access requestlink3.gif, under the Data Protection Act 1998, on 18 May 2009 by recorded delivery and I sent you a payment of £10.00 which you cashed. I requested all of the information that you hold on your files about my account. You have failed to supply the information within the time allowed of 40 calendar days.

 

In addition to copies of all the information held on my file I would particularly request a copy of the original signed credit agreement. I realise that you have already sent me a copy of the agreement, which you claim is a copy of the executed loan agreement and it would therefore appear that this is the agreement you would look to enforce.

 

If I am mistaken in forming this opinion please provide the copy requested above. I would also point out that this account is still in dispute due to your failure to provide me with the information I have been requesting. If in fact you do not have a signed agreement I would request that you confirm this to me rather than avoiding your responsibilities and continuing to cause me stress and concern.

 

I trust that you will now supply me with all of the information requested and I look forward to receiving this information in due course.

 

 

Yours Faithfully

 

Feelingglow

 

Feelingglow

.................

nicked from her thread

adapt to suit.

dx

 

Cheers dx and I will adjust and forward accordingly.

 

Many thanks for your assistance and will keep you posted.

 

:wink:

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