Help understanding cancelled PPI

moneysavingmatt

Hi all,

Was looking for some advice regarding PPI cancelled recently with Black Horse.

I am currently claiming misselling as we were basically told that we would not get the loan without PPI - Its with the FOS at the moment fingers crossed.

Basically It was a £6k loan over 60 months taken out in March07. We were paying £218.58 per month on the original credit agreement this is made up of £147.78 towards the £6k loan (17.9%) total payable 8,866.80 and then £70.80 towards £4,248.00 of PPI [2,874.57 at 17.9%APR](Sigh I wish I was more money savvy at the time).

Now that it is cancelled they haven't sent any paperwork but dropped the payments to £181.89 - Where has this figure come from and should it not be the £147.78 as per the intial loan application?

Any help is appreciated.

di3004

moneysavingmatt wrote: »

Hi all,

Was looking for some advice regarding PPI cancelled recently with Black Horse.

I am currently claiming misselling as we were basically told that we would not get the loan without PPI - Its with the FOS at the moment fingers crossed.

Basically It was a £6k loan over 60 months taken out in March07. We were paying £218.58 per month on the original credit agreement this is made up of £147.78 towards the £6k loan (17.9%) total payable 8,866.80 and then £70.80 towards £4,248.00 of PPI [2,874.57 at 17.9%APR](Sigh I wish I was more money savvy at the time).

Now that it is cancelled they haven't sent any paperwork but dropped the payments to £181.89 - Where has this figure come from and should it not be the £147.78 as per the intial loan application?

Any help is appreciated.

Hi there and the best of luck with this, hope you receive some good news soon.;)
Have you actually requested for them to post you the full breakdown of this hun, if not write to them and ask them to send you this for as soon as possible, as you have rights to see the workings out on this.
Any further problems let us know, good luck.;)

Di
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