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My secured loan has passed through many companies since Picture went in to liquidation.

The loan is now with IDEM Servicing.  


The loan of £21k was taken out in June 2007 and was secured against our property.

The PPI sum of £5239.50 was added to the £21k loan making the amount we borrowed  £26239.50.

We paid £269.00 a month in payments until 2014.


In 2014 the sum of £5239.50 was returned and taken off the balance of the outstanding loan bringing the total outstanding loan balance down. However no interest was returned or compensation for the mis-selling of the PPI. I am well aware we paid interest on the balance of the PPI as well as the loan payments although never thought of this at the time.

The interest of 10.9% was front loaded on the loan.

Meaning that We have over paid interest on the total amount of £26239.50 for 7years.

The rate of the loan was variable and has never altered at 10.9 %.


By my estimations I can see we have made roughly 84 payments which have been front loaded due to making payments on a loan of £2639.50 instead of £21000. My calculations mean that we should now by rights only owe about £4000 however IDEM state we still owe In excess of £13k? They are still looking at the loan as a £2639.50 loan?

IDEM  state they do not accept responsible for the PPI payments or interests.

But I believe if I had not been sold the PPI then I would have had a loan for £21k which I have paid above the odds for and by rights should get the interest back on the overpayments that I paid in the beginning. 


Has anyone else experienced this or had any success?. 


I have made numerous complaints to IDEM and I am currently waiting a response re the above.

If no joy I will take this to the FCA but wanted to see if anyone else has experience of this.

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Write to them and begin an immediate formal complaint to the financial ombudsman service. They are required to give you a final response within eight weeks after which you can go to the FOS directly.

You should get that going now and don't get involved in any delay

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Hi and Welcome to CAG


I have moved your thread to the appropriate forum...(Debt Collection Agencies) please continue to post here to your thread.





We could do with some help from you.



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If you want advice on your thread please PM me a link to your thread

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going by your figures 


£5239.50 was added to the £21k loan making the amount we borrowed  £26239.50.


so the PPIPCM% was:



5239.50/26239.50*100=19.97% so lets call that 20% so 20% of any payment made on its date was PPI.


now you'll have to fill out the statint sheet as if you haven't yet been refunded

then add in the payment you got on its date as a minus figure on the sheet on its date to the sheet


that will tell you whats outstanding from the refund


thus what you owe today.








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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