northern rock

josie37

I took a loan out with northern rock in 2004, a couple of years later I was ill and off work and tried to claim off my PPI. I was told I couldnt claim anything and therefore I fell into arrears.
the loan is now in the hands of 1St credit, the original loan was for£7500 now 1St credit are claiming £15000. I have requested copies of the loan agreement which has been ignored.
I feel stuck do not know what to do with this huge debt, can anyone advise?

jonesMUFCforever

Why did they refuse your claim?
Have you tried to re claim the PPI?
Was the PPI front loaded so the actual amount owing would have been nearer £10k to begin with?

Have you made any repayments at all since 2004?
What was the interest rate on the loan?

Until you come back with some answers I assume that the charges and interest have to be correct.

josie37

they said it was due to missing one payment before i contacted them with regard to my problem.
I havent tried to reclaim the ppi and yes I have made repayments since 2004.
the loan I took out was an unsecured loan over the internet (stupid I know, hindsight is a wonderful thing!)
I have contacted 1st credit on a number of occasions, in writing requesting the details of the loan but to no avail.

jonesMUFCforever

They cannot turn your claim down because of that.
Was it a sickness or unemployment claim?
Do a SRA on them - it will cost you £10 but they have to respond within 40 days.

NorthernLas

You may get more help regarding how best to resolve your loan debt if you re-post on the DF Wanabee board. There are experts who can give you advice about dealing with debt collection agancies and F&F settlements

josie37

could you tell me please what a SRA is? and I have posted now on the DF wanabee board.
Thank you for your advice.