Tweet
Hi all.
In 2003 I took out a loan with HFC after they called me offering finance for whatever, new kitchen, bedroom etc, anyway decided to take out a loan for £7500 which was approved and they sent me papers with the details for me to sign,
it was Loan £7500 paid monthly at £149.82, for 84 months APR 17.5%
Interest at 17.5% £5,084.88
Total amount payable £12.584.88.
At the top of the form it says Optional Payment protection Insurance, and that they strongly recomment that I take out PPi to protect against accident, death, unemployment, etc, and to tick the approptiate box to tell them whether I wanted PPI, I did not tick the yes box because I knew being self employed it would be of no use to me.
In the next column it stated,
cash price of PPI £1,200
PPI interest at 17.5% £813.48
Total amount payable £2,013.48
monthly payment for PPI £23.79
They included PPI anyway and the charge was
Amount of credit (the loan) £8,700
Interest £5,893.36
Total amoun t payable £14,596.36
84 monthly repayments of £173.79.
After paying the loan by DD for 43 months Id asked for a redemption figure and had to pay another £5,679.91 to clear the finance, so in total, including the 43 payments already paid I paid the grand total of £13,142.88 to redeem the loan 41 months early.
I now know I was mis sold PPI but does any one know whether these figures are correct, I believe they gave no rebate for early settlement, so dont know how to go about complaining as I dont know how to work out how much rebate I should be entitled to, although I know to ask them to refun d the PPI and the interest charged, can any one help me with figures please...B
In 2003 I took out a loan with HFC after they called me offering finance for whatever, new kitchen, bedroom etc, anyway decided to take out a loan for £7500 which was approved and they sent me papers with the details for me to sign,
it was Loan £7500 paid monthly at £149.82, for 84 months APR 17.5%
Interest at 17.5% £5,084.88
Total amount payable £12.584.88.
At the top of the form it says Optional Payment protection Insurance, and that they strongly recomment that I take out PPi to protect against accident, death, unemployment, etc, and to tick the approptiate box to tell them whether I wanted PPI, I did not tick the yes box because I knew being self employed it would be of no use to me.
In the next column it stated,
cash price of PPI £1,200
PPI interest at 17.5% £813.48
Total amount payable £2,013.48
monthly payment for PPI £23.79
They included PPI anyway and the charge was
Amount of credit (the loan) £8,700
Interest £5,893.36
Total amoun t payable £14,596.36
84 monthly repayments of £173.79.
After paying the loan by DD for 43 months Id asked for a redemption figure and had to pay another £5,679.91 to clear the finance, so in total, including the 43 payments already paid I paid the grand total of £13,142.88 to redeem the loan 41 months early.
I now know I was mis sold PPI but does any one know whether these figures are correct, I believe they gave no rebate for early settlement, so dont know how to go about complaining as I dont know how to work out how much rebate I should be entitled to, although I know to ask them to refun d the PPI and the interest charged, can any one help me with figures please...B
Comment