Welcome Finance Help!

Tinkerbelle1971

Hi Blaz

I had the same trouble with this company, I got in arrears with them as well. If I remember, I took the loan out in 2004 but I didn't claim my PPI back until last year. They had also re-written my loan for me with 1% interest on it as I was having trouble paying it at the time.

I just wrote a letter to them saying that they had mis-sold me the PPI and that I wanted it back. I gave them 14 days to reply to me which they did saying that they were looking into it. After three months I got a cheque back for £1500.00 approx. I should of paid this off my loan but I hadn't had my lightbulb moment then so I spent it.

To my suprise I got a letter off them a couple of months ago saying that they had already paid the PPI back on the original loan but did I want them to look into the re-written part of the loan to see if they owed me any PPI. Did I? Lol, they didn't need to ask me twice. I then got a payment into my bank of £100.00 and I think it was £1200.00 paid back towards my loan, thankfully.

You should just write them a letter saying that the PPI was mis-sold as they also told me that I couldn't get the loan if I didn't take it out. I am quite suprised at how easy it has been with them getting it paid back. After all the trouble I have had with them over the years. I also got approx. £500.00 paid back towards my loan due to the harassment I had from one of their Account Mangers. He was phoning me and sending two or three letters a month at one point, £15.00 for a telephone call and £10.00 for a letter. He also had the cheek to turn up at my home one day.

I didn't even send copies of the original agreement to them, I just put my account number on the letter.

Good luck and fingers crossed.

Tink x

Blaz

jellybean39 wrote: »

omg the interest is hurrendous thought i was seeing things 57%:eek:

Yes Jellybean i was a stupid little 21 yr old boy, i didnt realise or understand what i was getting myself into

This is the only loan ive ever had, i save an pay for everything up front now, learnt my lesson the hard way.

Thanks Tinkerbelle,

I have a feeling they may give me some trouble as it was more than 6 years ago now ... Its now become a case of do i make contact and try to finally settle this debt with them OR continue this no contact until i reach that point where i dont have to pay it back (but that could damage my credit report so not sure about that one). Overall im thinking of sending them a letter saying about the PPI ... but instead of saying pay me money, ill say knock it off the balance (unless they try to pull the 6 yr thing on me) and then either offer them a settlement fee OR ask them for a settlement fee.

Can anyone make some suggestions as to what they would do in my situation?