We fight any claim - amount paid out incorrect help please

cado1

My mum and I have a second charge loan against her house with Blemain finance.

In 2012 WFAC sucessfully reclaimed the PPI paid as I had written to Blemian twice to cancel it.

I then received a cheque for approx £700 I phoned WFAC so that I could pay them their commission charge by debit card over the phone. I had already worked out the amount they would be charging circa 33% so £231. The guy I spoke to on the phone suggested the charge should be higher I questioned why and confirmed the amount of the cheque. He then put me on hold for a while and came back and said he had made a mistake and the charge of £231 was taken from my debit card.

When Blemain paid out the PPI they also recalculated the amount of the loan without this amount so the monthly payments have also been reduced and they have refunded the incorrect amoutn of interest taken thus far and this was used to reduce the overall loan amount.

WFAC have now been in touch saying that we owe them 33% of that amoutn as well and will be sending me an invoice. As they have been hounding my mother with phone calls I have stipulated that I want everything in writing and I hope they can pull a recording of the phone call.

I may well have been naive and not read the T&C properly and do owe them the money but surely they should have made this clearer at the time ??

Any advice on how to deal with this as I have just split from my OH and although I start a new job next week I have been unemployed for a month so money is tight and this is one extra expense I can't budget for right now.

Thanks

dunstonh

I may well have been naive and not read the T&C properly and do owe them the money but surely they should have made this clearer at the time ??

Some claims companies not only charge on you the redress payment but also on the total amount saved. You would need to read your contract.

amersall

With second charge loans, I know hindsight is a good thing !, you should have made the claim yourself, the company are correct to want 33% of the whole PPI amount and not just the redress, they look on it as you will benefit from the whole PPI, this is correct as the loan balance and monthly payment has decreased, you also save thousands in interest on the remaining term of the loan.

You should call them and see if you can make an arrangement to pay the rest, if you have not got it then you cannot pay the extra up front.
Let me know how you get on.