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Is this front loading ?
BTT22
Posts: 8 Forumite
Hi , I took out a loan with HSPF in 2002 and obtained the details by sending a SAR request . From the particulars of the loan detailed does this constitue front loading , and if so is this grounds for misselling . I also received 6 months full and 6 months half sick pay at the time . Thank you .
Advance A £ 3500.00
Gus Creditcare B £1044.75
Amount of credit A+B D £4544.75
Total charge for credit E £1338.13
Total amount payable D+E F £5883.88
The total amount payable , 48 monthly installments of £ 122.56.
Advance A £ 3500.00
Gus Creditcare B £1044.75
Amount of credit A+B D £4544.75
Total charge for credit E £1338.13
Total amount payable D+E F £5883.88
The total amount payable , 48 monthly installments of £ 122.56.
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Comments
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Hi , I took out a loan with HSPF in 2002 and obtained the details by sending a SAR request . From the particulars of the loan detailed does this constitue front loading , and if so is this grounds for misselling . I also received 6 months full and 6 months half sick pay at the time . Thank you .
Advance A £ 3500.00
Gus Creditcare B £1044.75
Amount of credit A+B D £4544.75
Total charge for credit E £1338.13
Total amount payable D+E F £5883.88
The total amount payable , 48 monthly installments of £ 122.56.
Certainly looks like it, it was added on at the beginning and you have paid interest on it over the whole term, put in a complaint
Successes
Sainsbury's/BOS £6,400 Paid
MBNA £3,600 Paid0 -
Thank you dilus for your reply , very helpful .0
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Hi there.
My paperwork for my Blackhorse loans looks identical to the above post. Does this mean my loan was front loaded?0 -
If your PPI was a monthly premium paid separately from your loan repayment this indicates that the loan was NOT front loaded.dolphingazer wrote: »Hi there.
My paperwork for my Blackhorse loans looks identical to the above post. Does this mean my loan was front loaded?
Check your statements.0 -
It was paid as a single monthly payment over the term of the loan. 60 months.0
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So your complaint of front loading was accurate on the Consumer Questionnaire form you sent to the bank.dolphingazer wrote: »It was paid as a single monthly payment over the term of the loan. 60 months.
Good luck!0 -
Thankyou so much Moneyineptitude for your help:D
Also thanks to BTT22 for posting the original post!
I feel so much better now.:)0
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