first direct, a little help req please

joninprague

Hi All

To cut a long story a little short....

I initially put in my claim for financial hardship in sept 08 and after sending in all the required paperwork they have finally written and basically said

" following a review of your income and expenditure details it has been established that you are facing financial difficulties though we do not accept that the charges incurred are the cause of your financial difficulty "
I find this really difficult to understand and am unsure of what the next step would be? I originally banked with first direct and had a personal loan with ppi that i was struggling to pay so over the phone they offered to close that loan and consolidate my credit card and the loan together which i slightly foolishly agreed to at the time as the interest rate on the first loan was 7% and the new loan was 11.6%. I didn't actually ever get anything in writing to confirm what the redemption figure on the 1st loan was they just popped me on hold and came back with a figure i needed to have to consolidate??

I made the 1st 6 months payments with no problems until being made redundant last year and they would not reduce the payments and the loan and overdraft are now with debt collection agencies which i have payment plans set up with. during the time between my account being passed to the agencies I accumulated nearly £1500 in charges :mad:

most of my current financial problems started at exactly the same time as me incurring all the charges so i don't really understand how they can say the charges incurred are not relevant to my hardship claim.

I must admit to not be a financial whiz at all and have tried to follow the advice and this amazing website but I am now a little lost!!

any help or advice would be very gratefully received

Thanks

natweststaffmember

Do you have priority debt arrears(mortgage/rent, council tax, utilities)?

joninprague

Hi, Thanks for the reply, Yes I am behind by roughly £1000 with the gas and electric and this is now being taken directly from my benefit.

Cheers

Jon

natweststaffmember

joninprague wrote: »

Hi, Thanks for the reply, Yes I am behind by roughly £1000 with the gas and electric and this is now being taken directly from my benefit.

Cheers

Jon

I think the bank are right because there are payment arrangements in place to cover the arrears on the priority debt arrears.

However, PPI was that missold?