HFC and PPI I DID NOT REQUEST

[Baxter]

Re: HFC and PPI I DID NOT REQUEST

and this is the second

[Baxter]

Re: HFC and PPI I DID NOT REQUEST

sorry its upside down

[Amethyst]

Re: HFC and PPI I DID NOT REQUEST

Are these your copies ?

If so you need to CCA request HFC's copies. Theres signature missing, the PPI check boxes etc. Also need reverse of CCA for the T&C's as they form a part of the agreement.

The letter does state you requested PPI, although its in a postscript. So you need to check the original document for that.

Also you need to ask for a full breakdown of the settlement figure, unless you already have it.

Also can you confirm the monthly payment you made. £173 or £149 ?

[Tools]

Re: HFC and PPI I DID NOT REQUEST

Could you scan the back of that document please Baxter as this SHOULD give you your T&C`s and your right to cancel , early redemption detail et
Also if you have a copy of the PPI policy, some policies DO cover self employed . If this one does then you cannot use that angle.

From the scan you have shown I assume this is YOUR copy and not the one you sent back to HFC? You really need the copy that they have as we need to know 100% if the PPI box has been ticked as yes or no, and also whether or not it is signed and dated by yourself and HFC.

[enaid]

Re: HFC and PPI I DID NOT REQUEST

Okidoki I found my little formula, now this came out fine for me and my sister.
I will do it on here if I may because I am hoping it will correspond with Baxters settlement figures so here goes.

I = Interest
M = months left to pay -2
N = length of loan

Now the workings out M x m+1 x interest
..............................N x N+1

so in baxters case we have m months left to pay 84 - 43= 41 -2 =39 that is M
N months of loan which is 84


M x M+1 ... 39 x 40 X interest which is £5084.88 ....39 x 40= 1560
N x N +1.... 84 x 85 ...........................................84 x 85= 7140=.218487394 x int=£1110.92p this should be your rebate figure on the loan not inc PPI.

£12584.88 - 1110.92 = £11473.96p this should be your settlement figure for the loan.

The rest is PPI, which means the PPI was 2013.48 and if my working out is right you paid £1668.92 so the rebate on the PPI was £344.56. This seems a little high for a rebate on the ppi so I have done all the figures together and separate the figure I get that you owe is £13309.65 you paid £13142.88 which looks like another months payment came into play either way. This happened on mine. I would say though the figures are right, you just need to try and get the PPI back.
unless I have this wrong but it worked ok for me. Enaid xxx

[Baxter]

Re: HFC and PPI I DID NOT REQUEST

Hi thanks all, I wil write to request a copy from HFC, but I know I did not request PPI, Il scan the T&Cs later today and post them, on this PPI I believe you can claim when your self employed but I remember reading when I got the docs through that they would want copies of my end of year accounts should I need to claim and as the business would run whether I was off sick or not it would never pay out because our embroidery side has always been busy, and yes I did pay £173.79 a month..B

[Baxter]

Re: HFC and PPI I DID NOT REQUEST

When I requested a redemption figure they did not write to me with a breakdown, after about 10 days I called them and they gave me the figure over the phone, ive nothing, not even a receipt to say Id paid off the loan, Just a copy of the cheque I sent them..B

[Baxter]

Re: HFC and PPI I DID NOT REQUEST

HI all,
ive requested the original docs from HFC, in the meantime ive been going through old paperwork and just found another copy of the agreement, which I posted at post 14, they are both almost identical except there's a line accross the yes box for PPI and at the bottom of the page on the riht where the signature boxes are, on this copy its all blank, the 2 boxes are missing, I wonder why they left this off, there is no form which ive signed for PPI..B

[calamity jane]

Re: HFC and PPI I DID NOT REQUEST

Just looking at this.

Using this loan calculator,

http://www.contractoruk.com/money/loan_calculator.html

for a loan of £8700 over 7 years monthly repayments of £173.79 the interest rate used is exactly 16.2% not 17.5%. An arrangement fee for the loan could be the difference as I think they have to include the cost of that in the APR.

For the settlement figure,

using this calculator.

http://brian-stewart.orpheusweb.co.u...ualr78-prr.htm

If you requested settlement after 43 payments, they would calculate at next payment date.(44). This comes to £55 less than the figure you were given. Did they include an early settlement charge? :noidea:

I think the above is right but if not sorry if I've confused matters

[enaid]

Re: HFC and PPI I DID NOT REQUEST

Hi CalamityJane,
I think you will find this is the rule of 78 method
http://brian-stewart.orpheusweb.co.u...ualr78-prr.htm

[Amethyst]

Re: HFC and PPI I DID NOT REQUEST

HI all,
ive requested the original docs from HFC, in the meantime ive been going through old paperwork and just found another copy of the agreement, which I posted at post 14, they are both almost identical except there's a line accross the yes box for PPI and at the bottom of the page on the riht where the signature boxes are, on this copy its all blank, the 2 boxes are missing, I wonder why they left this off, there is no form which ive signed for PPI..B

I really think you need to wait to get the original CCA copy from HFC before taking the next step.

[Baxter]

Hi all,
HFC still have not sent me the information I requested about the PPI which was added at the begining of my loan, they have still not given me a full breakdown of my account, or any original docs, they replied to my letter which i recieved on 3rd April stating that they are personally addresing the issues I have raised and will carry out an investigation of the situation on my behalf "very good of them", they will examine the background carefully and respond to me shortly.
im wondering how long they can drag out the "shortly" period, In my letter I gave them 14 days to provide the information, and it took them 17 days to acknowledge my complaint..B




Hi all,
still no docs from HFC about the PPI added to my loan, took them 17 days to acknowledge my letter and they will reply "shortly" wonder how long they can drag out the "shortly period" ..A nudge letter next..B

something funny going on here, i lost my posting 5 mins ago, couldnt be bothered o type the whole thing again so did a shorter version, posted that and low and behold its there, or have i finally lost the plot!!!B

[Amethyst]

Re: HFC and PPI I DID NOT REQUEST

Hi Baxter, iyour posts are there, think you probably just needed to do a refresh after you'd posted it to see it. Sometimes that happens. I'll merge above three together for you.

Ame
xx

[Baxter]

Re: HFC and PPI I DID NOT REQUEST

Hi all,
HFC are giving me the run around, ive had 1 letter saying they are looking into my complaint and another today saying that at the present time they have been unable to resolve my complaint as their investigation is yet to be concluded and as soon as all the relevant information has been gathered and the investigation completed a ull response will be issued in writing. There is a box at the top of the letter which says
Your complaint is being investigated by Exec Comp Consumer Finance, Tel mon - sat 9am til 5.30pm 0845 60 3793? next move anyone please?..B

[enaid]

Re: HFC and PPI I DID NOT REQUEST

Maybe you would like to go through the FOS, they are dealing with a lot of PPI claims at the moment. If you want I will get you the info Enaid x