Desperate Help Required Understanding an Old Loan

HeyHeyMyMy

I had a loan with Black Horse Finance a number of years ago. The loan amount was £1500 with an APR of 19.9% over 36 months - monthly payment £54.45. Total amount payable £1960.20. In addition to this there was a Payment Protection Plan of £399.59 with an APR charged on this of 19.9% again. Creating an additional monthly amount of £14.50 (£522 in total).
I have a statement which I requested a number of months back when i was looking to settle the remainder of the loan, which I eventually did. On this statement is an opening balance of £1899.59 (the loan amount + the payment protection amount). The statement runs from 02/03/04 to 31/01/07. I was going through some financial difficulties at the time and, as such, cancelled the direct debit on a number of occasions, but that's another story. During the above period, despite making a total of 16 payments of the agreed amount of £68.95 (£1103.25) and the total loan amount (including interest and ppi) being £2482.20 the closing balance on the statement, which I eventually settled at, is £1739.85.
A number of points here.
Firstly, it seems I signed a seperate box on the credit agreement for the PPI although it was never explained to me what this was for and what cover was provided - can I therefore claim this back?
Secondly, as above, the total amount of the loan (including interest and PPI) was £2482.20 - over the period 02/03/04 to 31/01/07 I paid a total of £1103.25, but rather than reduce the amount owed by £1103.25, it has only come down by £742.35 - why the shortfall??? It isn't clear from the statement why this should be.

Thank you in advance for your help!

CLAPTON

as far as PPI is concerned I'ld suggest you read the PPI reclaiming guide and the forum threads on the subject


as for the settlement figure... you say you cancelled the DD on several occasions..obviously if you missed payments the amount of interest would have rolled up hence increasing the total payable.

Additionally its likely they charged you late/missed payments fees etc... what do the statements say?