welcome financed offer

willow70_2

hi all

i am so confused on what to do i have had a offer of 4606 form welcome for previous loans which is a lot of money. however they are going to restructers my lone which i am still paying but i dont thik the figures and calculations work out right



9557.11 over 180mths apr 18.10%
total charge of credit 16576.11
paid 36 total payments 5533.88
monthly payments 145.18

on these figurs they have given me i work it out that i will be paying alot more back any help cant get intouch with welcome have been on hold for 2hr this afternoon

Any help will be great xx

di3004

willow70 wrote: »

hi all

i am so confused on what to do i have had a offer of 4606 form welcome for previous loans which is a lot of money. however they are going to restructers my lone which i am still paying but i dont thik the figures and calculations work out right



9557.11 over 180mths apr 18.10%
total charge of credit 16576.11
paid 36 total payments 5533.88
monthly payments 145.18

on these figurs they have given me i work it out that i will be paying alot more back any help cant get intouch with welcome have been on hold for 2hr this afternoon

Any help will be great xx

Hi there

First of all well done.:beer:

I hope someone will be along soon to take a look at the figures for you, as I am not good with this type of thing and may get it wrong.

good luck.:)

robbedofmymoney

hi,

the figures you have posted need a bit more explanation.

is it the details of your refinanced loan ofter they have settled,

if it is (thats what it looks like)

you need to make sure the interest rate is the same as your previous agreement, you will also have reduced monthly payments.

if you are able to please can you post word for word what the letter says about the re-structuring of the loan

cheers

willow70_2

robbedofmymoney wrote: »

hi,

the figures you have posted need a bit more explanation.

is it the details of your refinanced loan ofter they have settled,

if it is (thats what it looks like)

you need to make sure the interest rate is the same as your previous agreement, you will also have reduced monthly payments.

if you are able to please can you post word for word what the letter says about the re-structuring of the loan

cheers

hi the 4606 was from previous loans.
this is the break down of the restructer.

loan before ppi was taken off

11339.70
monthly payment 168.10
paid 36mths
total should have paid 6052.68
actual payments 5533.88
arrears 518.80

restructer

9792.11
total charge of credit 16576.11
ppi policy cancelled 1547.68
monthly payments 145.18
paid 36mths
total should have paid 5226.64
actual payments 5533.88
overpayment 307.24
8% 62.67
and that is the break down

my conclusion folling this investigation is that i am unable to be sufficiently sure the ppi policy was suitable or affordable for your needs. i have therefore upheld the complaint.

robbedofmymoney

willow70 wrote: »

hi the 4606 was from previous loans.
this is the break down of the restructer.

loan before ppi was taken off

11339.70
monthly payment 168.10
paid 36mths
total should have paid 6052.68
actual payments 5533.88
arrears 518.80

restructer

9792.11
total charge of credit 16576.11
ppi policy cancelled 1547.68
monthly payments 145.18
paid 36mths
total should have paid 5226.64
actual payments 5533.88
overpayment 307.24
8% 62.67
and that is the break down

my conclusion folling this investigation is that i am unable to be sufficiently sure the ppi policy was suitable or affordable for your needs. i have therefore upheld the complaint.

assuming they are paying you the £4606 then the laon restructure looks to be about correct.

willow70_2

robbedofmymoney wrote: »

assuming they are paying you the £4606 then the laon restructure looks to be about correct.

Thanks robbedofmymony it was all just going over my head thanks again:rotfl::rotfl: