hfc

[crampers]

in november 1996 my wife and i took out a loan with hfc bank the loan was for £5000 plus payment protection which was a rolling payment plan i.e percentage of the outstanding loan every month ,never really thought about it until april 2006 when i tried to cancel it eventually the cancelled i then settled the account .the average cost of this per month was £40 i has requested a refund from hfc and recieved a telephone call from their regional manager who states as it was before 2005 (pre regulation)they cant see any way that a refund will be forthcoming that we signed the form and were aware of the payment ,however checking the original agreement which they do not have a copy of the box was electronically ticked for us ,it clearly states however the credit protection ins is optional and will be included as shown if YOU have placed an x in the appropiate box .we never touched it it was preprinted ,i also have a letter prior to the agreement stating that they strongly recommend our credit protection insurance no mention of it being optional ...any comments or thought appreciated

[reidnet]

Hi Crampers,

I see that you have got the standard go get lost reply from them about the PPI. I am fighting GE Money over mis-sold PPI, I got their usual response, you ticked the Box.. Well sorry I did not tick the Box, your agent ticked the box then presented the form to me for signing.

 

I have read somewhere that now they cannot present an agreement with any of the option boxes pre ticked, of course this will not help you or I as this has only came into effect recently.

 

If you were told at the time that if you did not take out the PPI then you would not get the loan, then that is mis-selling as PPI cannot be made a condition of obtaining Credit.

 

It is of course worth complaining to them and fighting for the refund of PPI if it was made a condition of your loan. They will fight hard over PPI well most companies will, though I had one that was settled quite quickly, I am currently fighting GE Money over a mis-sold PPI and this one has been ongoing since October last year, I have a court allocation hearing on the 22nd May regarding this one.. So lets see what they throw at me there..lol

 

I have also posted some notes on PPI in general which may be of some help.

 

http://www.consumeractiongroup.co.uk/forum/ppi/61081-ppi-some-notes-claimants.html

 

If you need any help Just shout ..

 

Good Luck

 

Ian

[hellhasnofury]

in november 1996 my wife and i took out a loan with hfc bank the loan was for £5000 plus payment protection which was a rolling payment plan i.e percentage of the outstanding loan every month ,never really thought about it until april 2006 when i tried to cancel it eventually the cancelled i then settled the account .the average cost of this per month was £40 i has requested a refund from hfc and recieved a telephone call from their regional manager who states as it was before 2005 (pre regulation)they cant see any way that a refund will be forthcoming that we signed the form and were aware of the payment ,however checking the original agreement which they do not have a copy of the box was electronically ticked for us ,it clearly states however the credit protection ins is optional and will be included as shown if YOU have placed an x in the appropiate box .we never touched it it was preprinted ,i also have a letter prior to the agreement stating that they strongly recommend our credit protection insurance no mention of it being optional ...any comments or thought appreciated

 

Please have a look at this

 

http://www.thisismoney.co.uk/ask-an-expert/insurance/article.html?in_article_i d=417870&in_page_id=136

 

loan payment protection insurance

[crampers]

official response from hfc/beneficial you were aware of the ppi you signed the form and every statement for ten years stated the cost therefore we cannot uphold your complaint ,they have stated they do not have the original agreement .Anyone any direction for me

[reidnet]

Did you submit a CCA request for a copy of the Agreement ?

 

If not I would do so without delay, If they cannot produce a true signed copy of the Agreement the cannot enforce the agreement. Even though they have already admitted that they do not have the agreement, if you have not Submitted CCR then do so to keep everything nice and tidy for your own benefit. After all it only costs a £1 and could save you a load.

 

Good Luck

 

Ian

 

Ian

[hellhasnofury]

in november 1996 my wife and i took out a loan with hfc bank the loan was for £5000 plus payment protection which was a rolling payment plan i.e percentage of the outstanding loan every month ,never really thought about it until april 2006 when i tried to cancel it eventually the cancelled i then settled the account .the average cost of this per month was £40 i has requested a refund from hfc and recieved a telephone call from their regional manager who states as it was before 2005 (pre regulation)they cant see any way that a refund will be forthcoming that we signed the form and were aware of the payment ,however checking the original agreement which they do not have a copy of the box was electronically ticked for us ,it clearly states however the credit protection ins is optional and will be included as shown if YOU have placed an x in the appropiate box .we never touched it it was preprinted ,i also have a letter prior to the agreement stating that they strongly recommend our credit protection insurance no mention of it being optional ...any comments or thought appreciated

 

Hiya Crampers,

 

HFC are horrible, they are the worse company I have had to deal with.

Unlike some we had dealings with, who rolled over quite quickly to restore our faith in their company:lol:

 

Them Not having the credit agreement is one in the eye for them. but do not tell them you have one.

 

Maybe write to them stating that it has only come to your attention regarding statements by the fsa and oft that ppi should be optional and you were not given any chose. I was deemed part of the agreement and you did not request it (you recall it being x on signing the agreement).

 

They are now stating the re-regulation FSA thing, but before that they were still regulated. Because of these financial day-light robbery before that is why the FSA was set up, to stop them. So I would say stuff to that one.

 

I would keep at them maybe send a cca request and if they don't produce it. maybe stop payments to them (which is your legal right) and then see how quick they jump:D

[crampers]

the agreement has finished we settled the account last year

[crampers]

Dear Sir / Madam

I have written previously in relation to this matter I would feel that a response would be the professional thing to do instead of completely ignoring me ,the end of your last correspondence assured me that if I was dissatisfied that the complaint would be escalated ,is this your company’s idea of escalation complete silence .

In relation to the matter of Payment Protection Insurance applied to the above account we now request that all documentation relating to the account be forwarded to us as is our right under the CCA 1974 we enclose an appropriate fee of £1 I am particularly concerned with the existence of the agreement in the first place ,I demand that you provide me with a copy of the original agreement and the signatures that show that we both agreed to have Payment Protection Insurance applied to the account ,you have 12 days to provide me with the details .I also understand that under the CCA the non existence of the original agreement will make it unenforceable and we will therefore be seeking to recover ALL payments made to the account .

posted today i await

[The D.A]

I would reccomend anyone reading this thread to follow the link to the petition set up to raise awareness of the overpriced selling on PPi, with loan agreements.

 

Petition to: Prohibit loan companies from selling payment protection insurance with credit agreements.

 

spread the word, too many perople are being steered towards taking overproced ppi, in spite of the FSA's efforts to regulate the industry

[crampers]

hello all i had sort of given up on the hfc thing our agreement ran from 1996 to 2006 and after the FOS knocked back our welcome claim as it was before regulation jan 2005 i didnt think they would want to know ,i have been contacted from a private firm to take on hfc or should i try the FOS first ,hfc have sent me final letter .any help would be appreciated

[alanfromderby]

Since your last post a great deal has happened regarding PPI, and in particular HFC. I would advise before doing anything that you have a good read through the PPI stickies.

 

Whilst the FOS may not be interested in claims pre-2005, the FSA fine against HFC should make life very difficult for them in court.

[crampers]

hi again i have just gone through the hfc final response letter and i quote "The optional PPI purchased with your loan was paid for by monthly premium.This is the ONLY PPI product HFC offers with this type of loan and our branch staff are not qualified to comment on any policies which may be available through other providers "

 

Do i have them for not offering the oppurtunity of other providers

[alanfromderby]

The very fact that the form was pre-crossed would tend to show that you were not given the opportunity to make a considered decision, and you were not properly informed about alternatives. Have a good read through the FSA Final Notice regarding their fine as well.

[crampers]

thanks for the steer lots of good info on the final notice and it all applies thanks again