PPI claim against Black Horse Finance - Where do I start??

[Bill-K]

Re: PPI claim against Black Horse Finance - Where do I start??

.....its like all the buses come at once...

LOL - This one only stopped because you jumped in front of it. Next time, I'll flatten you - then reverse back to finish the job !!!

[Turboman]

Re: PPI claim against Black Horse Finance - Where do I start??

LOL - This one only stopped because you jumped in front of it. Next time, I'll flatten you - then reverse back to finish the job !!!

Nice to have you back---you grumpy old sod (sorry Deller---but we've missed him)

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

Great to have you on board Bill. It's been a while and we have some serious catching up to do!!

Quick question for anyone!!

When it actually comes down to it, how do we actually prove the PPI was mis-sold.

I know it was, even though it was 10 years ago I can clearly remember sitting down in their office going through the loan agreement. Due to my poor credit rating at the time they told me that the PPI was a condition of having the loan agreed and that it was highly unlikely I would get credit anywhere else.

Will it just come down to my word against theirs??

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

Another argument that you may need to be prepared for is the Limitation Act, as I think they will probably try to use that to hide behind.

I was under the impression there is no Limitations Act restriction because I only became aware of the cause of action recently. i.e. the JR

Regarding Contractual Interest, I still believe that 8% SI is unfairly low rate, and that claiming a higher rate of Compensatory interest is worth considering - BUT this doesn't carry the backing of the FOS. So, if you are thinking of claiming CI - or a higher rate than 8% SI - then you will need to be ready to go via the Court route.

I will have to give this some great consideration, although it is very tempting.

[di30]

Re: PPI claim against Black Horse Finance - Where do I start??

That again is why the SAR comes into it, and hopefully info to help your case.

Basically it will be a case of your word against their own, but provide as much information as possible in relation of your complaint, and they must take it into consideration.

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

No problem, I will get as much info together as possible.

SAR is all typed up now and ready to send out recorded delivery first Monday, will be interesting to see what comes back.

Can't for the life of me remember what I had to pay for the PPI.

[di30]

Re: PPI claim against Black Horse Finance - Where do I start??

No problem, I will get as much info together as possible.

SAR is all typed up now and ready to send out recorded delivery first Monday, will be interesting to see what comes back.

Can't for the life of me remember what I had to pay for the PPI.

Well done, and don't worry, hopefully the SAR will help.

[Bill-K]

Re: PPI claim against Black Horse Finance - Where do I start??

I think you're right about the LA, Deller - the clock ticks from when we were reasonable expected to know about the mis-selling. Hopefully, the JR is established as the start point. They may still hide behind the unwritten "six-year rule" with regard to the DSAR, though, so you may have to be persistent with that.

Unless the goal-posts have been shifted, I believe the FOS place the onus upon the lender to prove that the PPI was NOT mis-sold - as opposed to the court requiring the claimant to prove their case for mis-selling. So I think you really just need to prove that you were sold PPI, and then explain why you believe it was mis-sold. The PPI claimant appears to be given the benefit of any doubt - in theory, anyway...

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

Sounds good Bill, I'm pretty confident on the Limitations Act ruling and if it requires persistence to get that across then I have no problem with that, you know how persistent I can be.

With regards to the proving of mis-selling, that's as I thought, although sometimes you just need someone else to clarify it for you. I know I was sold the PPI, against my requirements and only as a condition of the loan. So long as the SAR returns everything with regards to the loan then that should clearly indicate the selling of the PPI as the total loan amount will differ from the amount credited to my account - on all 3 occasions.

Bill, do you know if many have been successful with PPI claims when persuing the contractual interest route? It's very tempting but just wondering how long and drawn out it may become and what sort of success rate there was!!

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

I have just read this on MSE with reference to making PPI claims.

Did your policy end over six years ago?

If you still have the paperwork, reclaim, although your chances of success are reduced, as it'll depend on what you can remember about the sale. If you don't have the paperwork, it's unlikely there will be records and, sadly, unlikely the reclaim will be successful.

What's the likelihood that the SAR will come back with nothing?

Is it at all possible that details of the loans will still be on file, they didn't have them on their database when I phoned.

[di30]

Re: PPI claim against Black Horse Finance - Where do I start??

I have just read this on MSE with reference to making PPI claims.



What's the likelihood that the SAR will come back with nothing?

Is it at all possible that details of the loans will still be on file, they didn't have them on their database when I phoned.

Hopefully all will be there, but when this arrives and you feel something is missing that should be there you can write back and make sure.

They should check all systems, archives/microfiche etc.

Just let us know what comes back when this does come back and we can take it from there.

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

Hopefully all will be there, but when this arrives and you feel something is missing that should be there you can write back and make sure.

They should check all systems, archives/microfiche etc.

Just let us know what comes back when this does come back and we can take it from there.

I will let you know what comes back and post details on here.

[di30]

Re: PPI claim against Black Horse Finance - Where do I start??

I will let you know what comes back and post details on here.

That will be cool.

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

Morning all,

I'm a little confused.

I have this morning received a copy of my Credit Report from Experian. One of the entries in the report relates to the 3rd Loan taken out with Black Horse Finance.

First issue is, should this even be on the report? It states the agreement was settled on the 05/05/2005. I was under the impression that settled accounts only remained on file for a period of 6 years from settlement date!!

The second issue, which I'm struggling to get my head round tbh (maybe it's just to early in the day), is what it outlines for the Repayment Period.

It states - Monthly payment: £201 over 70 months

Now as I stated in earlier posts the ammount I borrowed actually only totals £4666.76 (this being the total of 3 credits made by BH to my account)

The first loan I repaid a total of £543.52 before re-financing
The second loan I only repaid £77.99 before re-financing again
The third loan I repaid £4624.64

All of the above were the DD payments made in relation to the loans, I am not sure what I paid in terms of settlement figure!

In total I repaid £5246.12 Through DD payments + whatever settlement figure I paid.

£201 over 70 months comes to £14,070 !!!

I only borrowed £4,666.76 in terms of what I received.

Would I really have repaid nearly £10,000 in interest and PPI ????

Does this seem right

[di30]

Re: PPI claim against Black Horse Finance - Where do I start??

Morning all,

I'm a little confused.

I have this morning received a copy of my Credit Report from Experian. One of the entries in the report relates to the 3rd Loan taken out with Black Horse Finance.

First issue is, should this even be on the report? It states the agreement was settled on the 05/05/2005. I was under the impression that settled accounts only remained on file for a period of 6 years from settlement date!!

The second issue, which I'm struggling to get my head round tbh (maybe it's just to early in the day), is what it outlines for the Repayment Period.

It states - Monthly payment: £201 over 70 months

Now as I stated in earlier posts the ammount I borrowed actually only totals £4666.76 (this being the total of 3 credits made by BH to my account)

The first loan I repaid a total of £543.52 before re-financing
The second loan I only repaid £77.99 before re-financing again
The third loan I repaid £4624.64

All of the above were the DD payments made in relation to the loans, I am not sure what I paid in terms of settlement figure!

In total I repaid £5246.12 Through DD payments + whatever settlement figure I paid.

£201 over 70 months comes to £14,070 !!!

I only borrowed £4,666.76 in terms of what I received.

Would I really have repaid nearly £10,000 in interest and PPI ????

Does this seem right

Good morning

First of all some credit reports may still hold details for more than 6 years, so no worries there.

In regards of the payment of BH, maybe that is including all interest etc on top (which i must admit seems extremely high), but when you receive your docs through it can be compared then just to be sure.