Loans, credit rating and PPI

twinkle75

I currently have a loan with the Halifax and my repayments are £333 a month. I have been paying this without fail for the past 18 months and prior to this I had another loan for a lesser amount which I payed without fail for over 5 years. Each time I took PPI.

Last week my car began to give me trouble and I thought I would get a new one. I only wanted to borrow an extra 500.00 and so I called Halifax and they began to look into this for me. All was going well until I said I did not want PPI. I was then told that I could only afford to pay back 250 pounds a month according to their system and I argued this with them as I had been paying well over that for years!

The complaints procedure started and to no avail. They now say that because my rent is 525 pounds a month they cannot halve this, even though I only actually pay half the rent myself! They wanted to put my partners details on the account which I do not wish to do as he has a debt management scheme in place at the mo.

I applied for a northern rock loan and was declined after this.

I am sure that my partners debt problems are be affecting my rating but it seems so unfair as we now have more money then we had 2 years ago when we started to live together and I know what I can compfortably afford to pay back, and my history should prove this. I just wonder if I add the PPi if the loans would have gone through like they always have done in the past.

twinkle75

After reading the boards I have sent an email today requesting the cancellation and refund of PPI on my loan.

Can anyone advise if I wil recieve the interest on the ppi loan as well as the PPI payments themselves

twinkle75

I have recieved a reply from Halifax and lo and behold they have refused to refund and advised to visit the branch to renogotiate the loan without the PPI.

Obviously haven't read my letter as I tried to renogotiate the loan and it was turned down!

They have suggested the Ombudsman, but is this worth it, or shall I apply straight to the court.

I have legal protection cover through my employer (in the same package as my critical illness cover which covers illness!) and they have agreed to help me if i wish to go to small claims.

Anyone had any luck with the ombudsman?

regularsaver1

when a loan is keyed the full rental commitment should be keyed regardless of what you individually pay - if the advisers keys any different they can get into trouble

this is because (sorry to be blunt) if your partner left you and the house you'd still have to pay the full rent

its the same with a mortgage commitment, and council tax - the full amount has to be keyed

taking ppi does not affect affordablity so would not change anything - your current commitments under their lending criteria only allows that £250 - but is everywhere else is the same? i'd be suprised if they werent