Everyday Loans PPI
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Jaylith
Posts: 35 Forumite
HI,
Situation:
I took out a loan of £600 loan with Everyday Loans last year I think May 2010. I attended their offices and I was originally told in a rather aggressive sales manner that all loans with them came with 'compulsory PPI'. I did not read the agreement thoroughly enough and signed the loan agreement.
I made my first payment of £75 to them a month after. two months after that I was unexpectedly made redundant in July 2010. Following the financial implications I advised Everyday Loans I could not afford monthly payments due to termination of employment and offered a reduced payment. They refused outright and so began a chain of negotiations on my part.
As my financial situation deteriorated being unemployed and all I did research and looked at my options. I entered into a DMP with CCCS in September last year and they deals with Everyday Loans on my part. They refused the offer but still took the £58 payments CCCS were making on my behalf through Oct 10, Nov 10, Dec 10 whilst still charging interest and late payment charges!!
They only froze interest & charges in March 2011!! And i have been making payments to them of £58 since Sept 10. In total £406. Now I do not understand how they can get away with this?? I called them earlier this month and was quoted a figure of £1,123 but upon receiving my statement from them the figure to date is £2,215!
I noticed PPI payments of around £10 a month since Aug 10 which has amounted to £90!! I have written a complaint based on their appalling treatment of me and their bamboozling charges & interest but am yet to send it to them!!
I am still unemployed but have a £10 a week job and working like a Trojan to find a job and improve my skills, training & do courses where I can. WOULD I BE ENTITLED TO CLAIM BACK FROM PPI FROM EVERYDAY LOANS THAT I WAS MIS SOLD AND BEGUILED INTO TAKING OUT WITH THE ORIGINAL LOAN?
I do not have the best credit rating due to moving around a lot as I emigrated from Africa etc.
I would appreciate any advice?
Many Thanks
Situation:
I took out a loan of £600 loan with Everyday Loans last year I think May 2010. I attended their offices and I was originally told in a rather aggressive sales manner that all loans with them came with 'compulsory PPI'. I did not read the agreement thoroughly enough and signed the loan agreement.
I made my first payment of £75 to them a month after. two months after that I was unexpectedly made redundant in July 2010. Following the financial implications I advised Everyday Loans I could not afford monthly payments due to termination of employment and offered a reduced payment. They refused outright and so began a chain of negotiations on my part.
As my financial situation deteriorated being unemployed and all I did research and looked at my options. I entered into a DMP with CCCS in September last year and they deals with Everyday Loans on my part. They refused the offer but still took the £58 payments CCCS were making on my behalf through Oct 10, Nov 10, Dec 10 whilst still charging interest and late payment charges!!
They only froze interest & charges in March 2011!! And i have been making payments to them of £58 since Sept 10. In total £406. Now I do not understand how they can get away with this?? I called them earlier this month and was quoted a figure of £1,123 but upon receiving my statement from them the figure to date is £2,215!
I noticed PPI payments of around £10 a month since Aug 10 which has amounted to £90!! I have written a complaint based on their appalling treatment of me and their bamboozling charges & interest but am yet to send it to them!!
I am still unemployed but have a £10 a week job and working like a Trojan to find a job and improve my skills, training & do courses where I can. WOULD I BE ENTITLED TO CLAIM BACK FROM PPI FROM EVERYDAY LOANS THAT I WAS MIS SOLD AND BEGUILED INTO TAKING OUT WITH THE ORIGINAL LOAN?
I do not have the best credit rating due to moving around a lot as I emigrated from Africa etc.
I would appreciate any advice?
Many Thanks
0
Comments
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Hi there, if you had ppi and you lost your job, you more than likely could not have claimed on this as i think you have to be in full time employment for i think 6 months? i could be wrong.
If you think you have reasons for mis sell then take a look here
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2
If any/all apply to you then put a claim in.
If you win then this amount will be taken off your DMP.
This will be a good thing as your debt will reduce.
With reference to the interest and late charges, i am afraid they can do this as you were not making the contractual payment.0
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