22 Mar 2015

A question about : Ambrose Wilson excessive charges

Hi,

Hoping you can help, ma in law has a debt of Ј750 apron with Ambrose Wilson.

Just looked at her last statement and she paid Ј48, of which only Ј1.50 came of the debt title=EEK! the rest of it was payment protection plus& interest payment.

So going to write a letter for her to sign, requesting cancellation of the payment protection, that will save her around Ј15 a month at current debt level.

Interest rate is extortionate, but apart from asking them to freeze interest, guess there's not much I can do about that.

Does anyone know if there have been successful claims for mis selling of the payment protection plus.?

She's just about managing the monthly payment but at this rate will take a long time to clear, even if interest gets frozen, all help advice appreciated

Thanks

Best answers:

  • they wont freeze the interest whilst not in arrears and may not even if she was,stopping the ppi is a good move so would be upping the payments to reduce the interest overall(keep paying the Ј15 to reduce the balance faster?)
    was she mis-sold the ppi?or did she mis-buy it?maybe she even wanted it at the time?
  • Hi thanks for replying, I've found a letter she received, saying they were automatically applying the ppc to the account. It stated she would get a free period at the start, and she could cancel within 84 days if she didn't want it. So she had to opt out rather than in, if you know what I mean.
  • I was hoping we'd be able to claim, but having had a read of the policy, it seems to be an insurance designed to cover the goods rather than her actual payments etc.
    She could claim if hospitalised more than 10 days, but not directly linked to a loss of earnings.(retired anyway)
    Would that still come under PPi?
  • I've entered all the details of the statements onto a spreadsheet, and some months the interest rate is higher than others.
    Normally it's about 2.8% but occasionally it goes up to 4.8% or similar, no idea why at the moment. The PPC %age varies for those months as we'll. It looks likes it miscalculated, so unless I can identify a reason why it happens, I'll query the charges, hopefully it's an error, and they will recalculate. Think there's about Ј80 to reclaim if it's their error. All will help to get the balance down, and paid off quicker.
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