Barclays Bank Secured Loan Assigned to Eldridge Finance.

[Diana M]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Yes, they are saying the shortfall (as they call it) is the interest on the arrears that was miscalculated and added to the monthly instalments to complete the loan.
And this.........is not correct, as the interest is a daily thing which is added in real time and not calculated at a later date to be added in the future or to the end of the Loan. That is unreal!!!!!

So no missed payments by you but interest added to your loan as a result of a "shortfall" due to their miscalculations?

Have you got all your statements for the life of the loan? (You can get them from a SAR to Barclays if not.)

I'll read your uploads and get back to you

Di

[Diana M]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

I have made a claim for the PPI and received the refund, so that was settled .

How was it settled?

Did they refund the upfront PPI premium charged for the policy of £9,566.40 and/or did they refund any interest which was charged on that PPI figure during the life of the loan (10 years)?

Di

[Ramuk2]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Yes, I missed some payments and others were in shortfall, altogether around 8 payments were affected.
The refund for the PPI was credited to the outstanding loan balance.

[Ramuk2]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Yes, interest added to the loan due to their "miscalculation".
I have the payment statements.

[Diana M]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

I missed some payments and others were in shortfall, altogether around 8 payments were affected.
The refund for the PPI was credited to the outstanding loan balance.

Any missed payments by you may have attracted interest (depending on the Ts & Cs etc).

Can you explain the "shortfall" side of things.

How much was the PPI refund (so I can see if it included interest charged on the premium over the 10 years)?

Di

[Diana M]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Yes, interest added to the loan due to their "miscalculation".
I have the payment statements.

Sorry our posts keep crossing, but the word "miscalculation" got me interested

Di

[Ramuk2]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Sorry, I am unable to explain any related shortfall as I was not aware of anything like this happening to the account administered by the BANK.
The PPI refund was during the begining of the loan term, as I challenged it. It was 9,566.40

[Ramuk2]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Yes............this word "Miscalculation" sounds dubious to say the least and in terms of a bank downright DEVIOUS.

[Fred]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Sorry, I am unable to explain any related shortfall as I was not aware of anything like this happening to the account administered by the BANK.
The PPI refund was during the begining of the loan term, as I challenged it. It was 9,566.40

Explain to Elderbridge that, you want to see the maths involved & check for yourself that what they are claiming "is correct". You can not be sure otherwise.

These people do as they please with charges, your T&Cs make it so, you need to see what they have done, it is fair to ask.

[Diana M]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

The PPI refund was during the begining of the loan term, as I challenged it. It was 9,566.40

Out of curiosity (no more inquisition tonight I promise ) why was the PPI refunded?

Did you not ask for it in the first place (how did you apply for the loan?) or when you saw the PPI Ts & Cs you realized it wasn't appropriate?

Di

[Diana M]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Explain to Elderbridge that, you want to see the maths involved & check for yourself that what they are claiming "is correct". You can not be sure otherwise.

I agree Fred.

There's Maths and then there's "Elderbridge Maths" which as we all know can differ

Di

[Fred]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

One more thing...........................................as k them to hold any further charges or interest until at least you have had chance to review & satisfy yourself over what they are claiming & exactly why.

[Ramuk2]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

I have sent numerous letters requesting this breakdown which they are stating including dates but to date they have never replied to at least 4 request, the same was requested from Barclay prior to the loan assignment, they also never replied.

[Diana M]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

I have sent numerous letters requesting this breakdown which they are stating including dates but to date they have never replied to at least 4 request, the same was requested from Barclay prior to the loan assignment, they also never replied.

I wonder why

Di

[Fred]

Re: Barclays Bank Secured Loan Assigned to Eldridge Finance.

Ask again, record all the dates of previous & explain you will take it to the FOS with or without their final answer or disputed account data.

In fact, based on what you have done already I, would fill in the FOS form tonight & let Elderbridge know via email.