Old Beneficial Finance loan

mwbowen82

I took out a loan in about 2006 with "Beneficial Finance" which I believe is/was part of HSBC.

I remember at the time is was all very sales-y and "the best thing for me to do etc..".

The idea was for it to be a kind of consolidation - which it was at the time. As with everything else, it went very wrong and its the one thing that im still paying off.

I have been paying £32.67 every single month since sometime in 2007 and the balance is down at around £2500 now.

For the first few years I was receiving statements from BF as even though it was very much in default, I was paying back.

It later - for some reason - went to capquest with the same payments being made.

All of a sudden ive started thinking - I bet that original agreement is a shambles. The salesy-ness of it all, possibly PPI etc..

Anything I can do? Ive paid many many many £32.67's..

National_Debtline

Hi

You can request a copy of the credit agreement so that you can check the terms and conditions.

We have a factsheet with a sample letter for doing that here:

www.nationaldebtline.org/EW/factsheets/Pages/39%20EW%20Credit%20agreements%20-%20getting%20information/Default.aspx

The Financial Ombudsman Service has some useful information on PPI issues, and will look into a complaint for you if necessary.

www.financial-ombudsman.org.uk/publications/factsheets/payment-protection-insurance.pdf

James
@natdebtline

mwbowen82

Brilliant thank you. Should I refuse to make further payments until this is provided or is that not needed at this stage?

sourcrates

You can with hold payment until they have complied with your CCA request, should you wish to do so.