Black Horse PPI reclaim

[d1anne]

Hi everyone,

Just thought id write and explain about my PPI claim circumstances.

Out of the blue i received a claim form from Black horse, ( I didnt ask for this just came in the post out the blue ) In october 2012

I hd 3 loans with them 1 was for 2000 taken out in May 2006
the second for 5000 taken out in Feb 2007
the 3rd for 10000 taken out in Dec 2007

I did when thought about it believe IF ( though I wasnt sure ) I had PPI I didnt require it at the time as the job i was in then paid out a death in service benefit should anything happen to me during my employment of 3 times my annual salary and I got full pay for 6 months IF I was off sick.

Today I have received a reply back ( bang on the 8 weeks they are allowed to reply ) offering me £1199

they have included how they have come to this conclusion and take of Tax as well as included the 8 % interest, If I agree i have to return the agreement form and they will pay via cheque.

|My question I suppose is, how do I know there calculations are correct and is there a way I can check this, or should I just agree with what they say and sign the agreement ??

Thin king back I believe i innitially took out the dfirst loan of 2000 then refinanced each of the other loans for each other then i believe I paid the 10,000 loan off early. not sure if this makes a difference.

Id appreciate if anyone can help me.

[di30]

Re: Black Horse PPI reclaim

Hi Dianne

Well done on your success.
Basically what you should get back is all you paid of the ppi premiums, plus the relevant interest.

If they have not sent you a detailed breakdown, you can request for this, this should show details of what you paid of the ppi etc.

I take it that is for all the loan ppi on all you are reclaiming on?
If so, is it possible the loans went on for a short time only when you refinanced?

[Bill-K]

Re: Black Horse PPI reclaim

Hi Dianne, and welcome to you. As Di says, they should send you a breakdown, but in my experience it doesn't help you check if the PPI refund has been properly calculated. In fact, I am helping with a LTSB claim where they have completely misunderstood the calculation method laid down by the FSA for consolidated loans.

The only way you can accurately check the refund is to go through all your records and copy the figures and dates into 3 spreadsheet programs. If you have copies of the original agreements, then this is a good start. You would need the sttlement dates and amounts for each loan, along with any early-settlement PPI refunds made to you, and also any actual 'pay-outs' made to you under the PPI policies. Ideally, you would also need the dates and amounts of all loan payments made. I have attached a spreadsheet for doing this, and you will need to make 3 copies of it - one for each loan. We can't do this work for you, but we can help you with it.

If you don't have sufficient records, then you can send BH a Data Subject Access Request (DSAR or SAR), which costs £10, but which should get you copies of all your data from BH going back 6 years. You may get data going backfurther, but there is no guarantee.

[TUTTSI]

Re: Black Horse PPI reclaim

Hi Bill I was just about to shout for you and Turbs as she posted up on a Lifestyle thread about her dealing with them and that Blackhorse have now made an offer which she needs to know if she should accept. I now know she is in very capable hands with Di and Bill. xx

[Turboman]

Re: Black Horse PPI reclaim

Hi--bit late on scene--lol--but concentrate on ferretting out this info and then post up--we can calculate things given the info below-----if you can't handle the SS---we can do it in a jiff---but we prefer you to do it---but if not--we'll help in detail if required

1. Date of the Agreement
2. Date of first payment
3. Amount of Cash Advance Loan (including the charge for credit)
4. Amount of PPI SPI Loan (including the chatge for credit)
5. Total of both Loans (merely as a crosscheck of above 2 items)
6. Monthly Cash Advance Loan amount payable
7. Monthly PPI SPI Loan amount payable
8. Total monthly payment (merely as a cross check of above 2 items)
9. Total number of payments made
10. Details of any arrears or missed payments
11. Details of any increase or decrease in payments on accout of rate % changes
12. Contents of Settlement letter if settled early
13. Details of any successful claims on the PPI policy

[Bill-K]

Re: Black Horse PPI reclaim

Good to see you posting, Turbo, as I know you have had some health problems lately (as has Tuttsi - bless her cotton sox !!!). Go through Turbo's list, D1anne, and between Di, Turbo and myself - and others in LB - we should hopefully get some idea of an acceptable settlement figure.

I need to check with Tuttsi, though - if this is connected to Lifestyle - is there a danger that they might claim CMC fees on any 'win' ?? I mean - do we need to make sure there is no claim on a percentage of this ?

[TUTTSI]

Re: Black Horse PPI reclaim

Bill, D1anne has got her money back from Lifestyle so they are now out of the picture. She is a free agent to obtain her refund as she has dealt with this herself and did this in a relatively short time. It looked like Lifestyle just took her money and did nothing. Thank goodness she got her money back and is not in contract with them.

Good to see you posting, Turbo, as I know you have had some health problems lately (as has Tuttsi - bless her cotton sox !!!). Go through Turbo's list, D1anne, and between Di, Turbo and myself - and others in LB - we should hopefully get some idea of an acceptable settlement figure.

I need to check with Tuttsi, though - if this is connected to Lifestyle - is there a danger that they might claim CMC fees on any 'win' ?? I mean - do we need to make sure there is no claim on a percentage of this ?

[d1anne]

Re: Black Horse PPI reclaim

Hi All, thanks for the replies, I was never involved with lifestyle, as i said on my original post, Black horse contacted me, sent me out of the blue a form to fill in which i did, now 8 weeks later they have come back to me with an offer but i dont know if what they are offering is correct. they have sent a kinda breakdown of how they have worked this out, but doesnt make any sence to me, they have not quoted any dates etc so i really dont see how i can check this from the info they have given me. ill type below the info they have given me see if anyone can make any sence of it.

Loan 1 for 2K

Paid via nrepayments £59.82
Paid in final payment £121.87
less payment due if pro rata £0.00
Sub total potential PPI refund from this loan £181.89
Less payment carried forward to next loan -£121.87
Sub total potential PPI refund from this loan £59.82
Less successful claim benefits £0.00
Sub total £59.82
Statutory interest at 8% £30.50
less tax at 20% on stat interest -£6.10
Compensation £0.00
Total £84.22


Loan 2 for 5K

Paid via repayments £143.40
Paid in final payment £281.38
Less payment due if pro rata £0.00
Sub total potential PPI refund from this loan £424.75
Excess balance and interest paid via instalments £15.29
Excess balance and interest included in final payment £115.24
Less payments carried to next loan -£396.59
Sub total potential PPI refund from this loan £158.69
Less successful claim benefit £0.00
Sub total £158.69
Stat interest at 8% £68.85
less 20% tax on stat interest -£13.77
Compensation £0.00
Total £213.77


Loan 3 for 10K


Payment via repayments £0.00
Paid in final payment £274.61
less payments due if pro rata £0.00
Sub total potential PPi from this loan £274.61
excess balance and interest paid via instalments £0.00
Excess balance and interest included in final payment £410.27
Less payments carried forward to next loan £0.00
Sub total potential PPi refund from this loan £684.88
less successful claim benefit £0.00
Sub total £684.88
Statutory interest at 8% £270.30
Less tax at 20% -£54.06
compensation £0.00
Total £901.12


Overall summary of redress due


Payment towards PPI £493.12
Excess balance £410.27
Less successful claim benefit £0.00
Less arrears on first schedule £0.00
Sub total £903.39
stat interest at 8% £369.65
less tax at 20% -£73.93
Compensation £0.00
tOTAL £1199.11

[Turboman]

Re: Black Horse PPI reclaim

Hi D1anne

Thats a good post-

However--for us to say its ok --we really need the info I detailed in post 5

Do you have any of it--either from CCA's or bank statements etc..

Turbs

[d1anne]

Re: Black Horse PPI reclaim

HI Turbo,

|Thanks for the reply but what iv typed up is the only info I have, should i go back to them and ask for further info ??

[Turboman]

Re: Black Horse PPI reclaim

Yes--if you want us to check it properly

You have 2 options

1. Request a detailed explanation as expected from the FOS Guidelines (Bill or Di will ref the info shortly for you)
2. Send a formal detailed SAR costing £10 and which they have 40 days to reply (If you decide that route--I've recently posted up an SAR (a detailed one) here

http://www.legalbeagles.info/forums/...117#post298117

Going out till 9:00pm--will call in then -no doubt Bill & Di will chip in soon too

Turbs

[Bill-K]

Re: Black Horse PPI reclaim

Sorry for the confusion with Lifestyle. The FSA rules in PS 10/12 state:

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.

However, so far, I have yet to see a clear and proper explanation following a request quoting this rule - but I believe this still needs to be done, because it then shows that the lender has NOT made an offer in compliance with FSA rules - and therefore any time-limit they may try to impose (by saying "This is our Final Response") is void, because they have not made an offer which complies with PS 10/12.

So - I think a DSAR is also needed. A CCA s.77-79 request MAY be worth sending, but this will only cover the most recent loan if it is still active. Inactive (or settled) loans are not covered by the CCA s.77-79.

[Turboman]

Re: Black Horse PPI reclaim

thanks bill----so we need to send the full request for a DSar AS HERE

http://www.legalbeagles.info/forums/...117#post298117

[Bill-K]

Re: Black Horse PPI reclaim

Agreed !!!

[d1anne]

Re: Black Horse PPI reclaim

Yes--if you want us to check it properly

You have 2 options

1. Request a detailed explanation as expected from the FOS Guidelines (Bill or Di will ref the info shortly for you)
2. Send a formal detailed SAR costing £10 and which they have 40 days to reply (If you decide that route--I've recently posted up an SAR (a detailed one) here

http://www.legalbeagles.info/forums/...117#post298117

Going out till 9:00pm--will call in then -no doubt Bill & Di will chip in soon too

Turbs

Thanks for the replies guys.

So when i send the template letter do i still have to send a £10 postal order ?? and can they withdraw the offer they have already made to me ??

None of these loans are still going they have all been paid off in full. but for all i know I may be due more from them, I also notice from what i have typed above ( there offer and working out ) that there has been no compensation included from them, should there have been some for the fact that they have missold me these policies ??