We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Where do I start? (Loan PPI)
MyDamagedBrain
Posts: 7 Forumite
Hi all,
The history
Back in 2005 the Ex and I took out a loan with The Funding Corporation Ltd (big mistake I know, but your live and learn!), Since then a lot has happened and we defaulted on the loan and the was then sold to Apex Credit Management. Since then I have had the loan under weekly management paying a small but constant payment.
Currently
As of now I'm in a better position to make payments on the loan (Amongst other debts) and had requested a copy of the original credit agreement (I have done this for all my current Debts) and noticed the PPI and Personal Accident Insurance that was added to the original agreement.
As I remember it We were given no choice but to have the PPI and PAI or we would be unable to have the loan, the total payable for the two being a little over £300 on a £1500 loan!
My Question
Who do I go to to deal with the PPI claim? As the loan was purchased by Apex are they involved at all or should I be looking at The Funding Corp?
Thanks in advance for your help
The history
Back in 2005 the Ex and I took out a loan with The Funding Corporation Ltd (big mistake I know, but your live and learn!), Since then a lot has happened and we defaulted on the loan and the was then sold to Apex Credit Management. Since then I have had the loan under weekly management paying a small but constant payment.
Currently
As of now I'm in a better position to make payments on the loan (Amongst other debts) and had requested a copy of the original credit agreement (I have done this for all my current Debts) and noticed the PPI and Personal Accident Insurance that was added to the original agreement.
As I remember it We were given no choice but to have the PPI and PAI or we would be unable to have the loan, the total payable for the two being a little over £300 on a £1500 loan!
My Question
Who do I go to to deal with the PPI claim? As the loan was purchased by Apex are they involved at all or should I be looking at The Funding Corp?
Thanks in advance for your help
0
Comments
-
Anyone got a clue where I should be looking
I'm feeling rather lost and bemused by all the jargon going around! 0 -
Any redress won by you would go towards the defaulted loan; you'd get nothing personally unless the amount you owe is less than the redress.
You complain to the original seller of the loan.0 -
Cool thanks that's exactly what I intended doing with it in the first place, So I need to contact Funding Corp.
Thanks again. 0 -
Guys a little more help if possible please.
I posted of the PPI claim documentation to TFC via signed for post and have received a letter back from them asking for my (Then) partners details as she was party to the loan but not the PPI.
Why do they need her authority to look into the PPI when it was solely in my name? I am on speaking terms with her so can if needed get her to sign authority but would rather go ahead without it if possible.
Any idea what I can do without having to bother the ex?0 -
It was a joint loan therefore they need both signatures.Non me fac calcitrare tuum culi0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards