Black Horse PPI reclaim

[fairy dust 49]

Hi, please can any one justify to me why BH have offered me only £65.00 PPI repayment ,yet on my loan agreement the PPI policy is £1,785.52 I am dumb founded by this offer .They have told me this is because they have taken into account 2 previous loans which have been consecutively paid off via new loans ,also they have said I had previously accepted claim -£4,103.14 which is not so, I did put a claim in when my partner was diagnosed with cancer. They declined the claim on my new loan but BH did inform me I could claim on the previous loan I had payed off, as that too had a PPI, to which they paid me £1,500 Hope some one can put my mind at rest and tell me this is wrong of them. Further to this I would like to say that this loan and PPi that i`m claiming for is has been open since 2008 so I am still paying it back .

[Bill-K]

Re: Black Horse PPI reclaim

Hi Fairy Dust. That does seem to be a pretty small PPI refund after 2 previous loans, but the FSA Handbook says you are entitled to a clear explanation of how the redress has been calculated:

DISP APP 3.9.4 The firm should make any offer of redress to the complainant in a fair and balanced way. In particular, the firm should explain clearly to the complainant the basis for the redress offered including how any compensation is calculated and, where relevant, the rescheduling of the loan, and the consequences of accepting the offer of redress.

To really work out what to expect, you would need to fill in a spreadsheet for each loan. When each loan is settled, we then have to calculate how much PPI is carried forward to the next loan. We also have to deduct any Insurance payouts made from this. Finally, if your current loan has any arrears due, then the lender will usually offset this with any PPI refund - and send you what is left over.

Personally, I would suggest that you write back to BH & quote DISP APP 3.9.4, insisting on a clear explanation. Meanwhile, you might like to copy the attached spreadsheet several times, and fill it in for each loan. As long as you can fill in the section at the top with enough data, the sheet will then 'forecast' the loan schedule, and all you need to do is check that the forecast is correct. We can help you with the PPI 'carry forward' and final calculation.

[fairy dust 49]

Re: Black Horse PPI reclaim

Thank you Bill-K ,I did receive a redress break down ,but on saying that the bank have included a 2004 and 2007 loan which were both up tp date on payments i.e no defaults.

Also when I took out a new loan in 2008 ,less payment to pay off the 2007 loan as mentioned on thread 1 I did call them to make a claim on my partners illness that had just been diagnosed.They informed me that I could not claim on the new loan just taken out but they were able to put the claim on the 2007 loan even though it was only active for 7 months before beeing payed off as that loan also had a ppi.

now this is were I get a bit confused ,the letter I received yesterday now informs me that a loan I had in 2004 also had a ppi on it which as you can guesse I didn`t know about and yet they have added that one into the redress .that loan had no claims on it or failed payments.

On reading the paper work and the breakdown sheeet again last night I have noticed that they have put the 2007 claim on my 2008 ,so to me it looks like they are trying to make out that they paid my claim on the 2008 loan and not 2007 .The problem I have now is trying to prove that they told me I could not claim on new loan as the claim was done via a phone call.

Now I did mention earlier that they only payed £1,500 into my bank but that is a mistake on my part ( oops ) was looking at a wrong bank statement.The actual figure that they paid on behalf of my partners illness was £3,925.20 but on the redress breakdown they have put pay out as £4,103.14.Which is a difference of £177.94.

Redress as due as follows

refund of ppi including interest £1,897.62

Excess Ballance and interest £468.72

Less previously accepted claim £4,103.14

Less arrears on loan agreement -

Sub total £0.00

Statutory int at 8% £82.35

Less tax at 20% from 8% stat in -£16.47

Total £65.88


Now surely if you pay ppi seperate on each loan then are they allowed to include all loan ppi`s on to 1 loan reclaiming .will I be able to also claim on the 2004 loan that they have now admitted to me also had ppi . thanks for your help.

[Bill-K]

Re: Black Horse PPI reclaim

This is where PPI reclaiming can get complex, I'm afraid. Unless we are able to challenge their figures with our own, we have to accept their offer. If we are going to challenge their offer, then we have to do the work. Have you got all your all your financial records to hand ? If not, then have you sent a DSAR ?

[di30]

Re: Black Horse PPI reclaim

Hi Fairy dust

Sorry not had the chance to read through thoroughly yet, but from what I have read, it does seem like a low offer.

But I agree with Bill, if you've not requested a SAR yet, maybe it would be a good idea to do so, this should then confirm what is what on each account, and can be used to work out how they have calculated on each one.

One SAR is sufficient for all the accounts, as its with the same business, so you just pay the one off £10 cheque or postal order with this request, they have 40 calendar days to comply.

Have they given a time scale on to accept or not?

[fairy dust 49]

Re: Black Horse PPI reclaim

Thanks Di30 and Bill-K , BH has sent a full summary of redress calculations on all loan`s but as Bill said it is very complex to understand .I`m not good on legal words as you can guess so not sure what sar is or means ,so think you need to be bit patient with me .

I would also like to mention that I have contacted the onbudsman yesterday about this matter ,but they can`t give to much information over the phone until they have looked through the paper work ,which they have requested me to send them .

Hense the reason why I have asked for some advise on here first to make sure that I am doing the right thing by sending the onbudsman the paper work .As i`m sure I may be able to claim on the 2004 loan as that was mis-sold , infact I did not know until yesterday that was added to my loan .The 2004 loan was open for 3 yrs and paid off via the 2007 loan.

Yes to your question Di they have given me 2 weeks to give confirmation of acceptance ,so I should imagine that I won`t have to send that form back until the onbudsman receive the papers.

[di30]

Re: Black Horse PPI reclaim

Thanks Di30 and Bill-K , BH has sent a full summary of redress calculations on all loan`s but as Bill said it is very complex to understand .I`m not good on legal words as you can guess so not sure what sar is or means ,so think you need to be bit patient with me .

I would also like to mention that I have contacted the onbudsman yesterday about this matter ,but they can`t give to much information over the phone until they have looked through the paper work ,which they have requested me to send them .

Hense the reason why I have asked for some advise on here first to make sure that I am doing the right thing by sending the onbudsman the paper work .As i`m sure I may be able to claim on the 2004 loan as that was mis-sold , infact I did not know until yesterday that was added to my loan .The 2004 loan was open for 3 yrs and paid off via the 2007 loan.

Hi Fairy dust,

Not a problem hun, you doing good.

Sorry for not explaining about a SAR :tinysmile_aha_t:.

This is known as a Subject Access request, and there is a letter template for this somewhere, hopefully if you want to do this, someone will post this up for you.
It's a request for all copies of paperwork on each account, they should actually keep on files/microfiche for at least 6 years, it comes in handy on when making reclaims etc.

Yes you are in your right to reclaim and complain on all loan ppi. x

[fairy dust 49]

Re: Black Horse PPI reclaim

Thank you so much Di 30 for your help , I will send in a request for the sar and hopefully things will turn out ok .Will let you know as soon as I get information back how every thing is going .

[di30]

Re: Black Horse PPI reclaim

Thank you so much Di 30 for your help , I will send in a request for the sar and hopefully things will turn out ok .Will let you know as soon as I get information back how every thing is going .

You are very welcome Fairy dust Good luck x

[charitynjw]

Re: Black Horse PPI reclaim

Some info/template letters

http://www.ico.gov.uk/for_organisati...onal_data.aspx

http://www.legalbeagles.info/forums/...ad.php?t=21788

[Paul210]

Re: Black Horse PPI reclaim

I've had a look at the breakdown BH have given you, this is something I see a lot, they have upheld your complaint and agreed that £1897.62 is due to you, however at some point during the life of the loans you have claimed £4,103.14 (the funds you mentioned receiving as a result of your partners illness, irrespective of whether they are £170 out on this you have agreed they paid you much more than you have paid in) They are entitled to knock this off, it doesnt matter if the claim was on this loan or the previous one as the loans rolled up into one another. As a result they claim they have paid out more than you paid in and therefore only owe you the compensatory interest element of the claim. Unfortunately, this time they appear to be correct.

[fairy dust 49]

Re: Black Horse PPI reclaim

Thank you Paul210 for your reply ,much appreciated.

[Bill-K]

Re: Black Horse PPI reclaim

EDITED POST.

For some reason, I missed a post of yours, FD. I concur with Paul 100%.

But - we must not let these guys think we are not watching them. Good on ya for questioning this.

NEVER be afraid to question.

[fairy dust 49]

Re: Black Horse PPI reclaim

Just hoping when onbudsmen get documents they don`t want to reduce any monies owing ,also they could tell me to go for the 2004 ppi that I paid even though that loan was open for only 3 yrs,so fingers crossed.thanks every one for your help.:tinysmile_kiss_t4: