Here is a nice one......

lagerspice

Is anyone in a position to offer me some real hard advice on tackling the problem below? Need to get it sorted but it is not cut and dry by any means!

Basically i will be a little cagey as i have been advised not to post fully on public forums due to the potential size of my claim but if anyone has any experience in the following please pm me:

Signing a credit agreement with a clear schedule and breakdown of repayment and what my repayment entails per month with no mention of alternative structure i.e rule of 78 applied when i signed to what was all intents a pro rata agreement as i stated from the outset my loan would not be full term.

The offer of consolidating my credit card balance in to my loan at obviously lower APR and not being informed that i would be losing 62% of my total PPI premium each time which in my policy guide is only forfeitable if i terminate my loan ( i have never given an instruction to terminate my loan and to use the banks jargon i am 'rolling' my CC balance in to my loan)

Net result on 18k borrowed over 3 1/2 years, 15k + repaid i now owe 19.6k on APR fixed of 7.9%

I know i have been irresponsible with my spending for many reasons but i am on the flipside not stupid either and there is no way i would have signed for these terms EVER, jesus, noone would. I have been totally misled and frankly conned out of thousands by witholding of pertinent information that would have affected my decision to refinance the loan. Also worth noting is that i have not gone to them for refinancing, they have intercepted my phone calls to retrieve my balance to offer these 'great' deals.

Any help really appreciated,

beanielou

Sorry, but you have totally lost me.
Welcome to MSE by the way.

Xbigman

Reading between the lines it sounds like you wanted a flexible loan but signed up for one with front loaded PPI and an early repayment charge. Thats why the remaining balance is so high compared to the original loan.

If the loan agreement says all that and you signed it I don't think you have much to complain about as it was all there in black and white.

Now if you are complaining about being missold PPI then you might have a case if you can prove you told them you needed a flexible loan you could pay off early. But proving it will be a big problem.

What proof do you actually have?
Regards


X

thewinkshow

did you read the terms and conditions when you lent the money?i know this sounds stupid,but alot of people dont.if so wasnt all this stated?

jamesd

"they have intercepted my phone calls to retrieve my balance to offer these 'great' deals"

To be clear, you're suggesting that they have criminally intercepted your telephone calls by bugging your phone line? If not, please say what actually happened.