3rd party company to help me out

8324689

Good evening all.

1st timer here, I have checked all the stickys and have had a sniff about and cant see a thread related to my question so I shall dive right in if I may.

I applied and recieved a loan for £4000 pounds about 5 years ago and was sold PPI (which I ended up using as I fell unemployed). My initial percent was something outlandish like 20%. I am still paying back and I just smell a rat. I know there is something not right. I used a get back loan charges company to take a look at my charges and was successful and was wondering if there is a similar company/person that I could sit down with and go through everything with. If anyone had any recommendations that would be great.

I got a letter ages ago saying I paid off the loan and now I'm just paying interest and I am still unemployed and paying £100 a month I cant afford shouldnt this be part of PPI?

Its embarrassing but I am awful with numbers and saving to boot.

I reckon there are quite a few variables involved and too many to type and would love to sit down with someone/company if poss.

Thanks for the site:)

aaa

Tixy

Did you try to make a claim when you became unemployed?

Mostly on here people recommend to do your own claims (as then you are not paying fees to anyone)

This board on the forum http://forums.moneysavingexpert.com/forumdisplay.html?f=169 is all about reclaiming PPI and this is a step by step guide http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

8324689

Hi,
Thanks for the reply
I did claim and thats why they say I cant say that I didnt need it [PPI] as I did use it although I'm still paying interest on late payments from when I was employed.

I dont mind paying fees to anyone as I think I have a complicated case and didnt mind paying 25% to a 3rd party.

8324689

Also am not sure if my query is PPI based only. I just think there is something not right and I have paid enough.

PNPSUKNET

think its the cab you want, no company

Tixy

8324689 wrote: »

I got a letter ages ago saying I paid off the loan and now I'm just paying interest and I am still unemployed and paying £100 a month I cant afford shouldnt this be part of PPI?

PPI only pays out for a short period of time (usually 12months). And If the additional interest occurred when you were employed it would not be covered by the PPI.

You may have already done this but if not I would request a full breakdown of all transactions so that you can work out exactly how much you have paid towards these late payments and whether the additional interest you are being charged is at the correct rate and in line with the original agreement.

What is the balance currently? If you cannot afford £100 per month, then write to them with a reduced monthly repayment proposal based on what you can afford, and request that they freeze all future interest & charges (some creditors will, some won't).

It will take you longer to pay off but if you cannot afford the current amounts then it would seem you have no choice. They may not be very happy to accept the lower payments but if you only have benefits coming in then even if they took you to court a judge would not expect you to pay back at this level.