Black Horse PPI reclaim

[d1anne]

Re: Black Horse PPI reclaim

You're very kind, sir. I hope it does the trick. We may well find this to be a problem which needs addressing regularly in the future, so a good template might be worth working on.

As Turbo says, the FSA rules are a dog's dinner, and the consolidation loan calcs are not even understood by the banks. I have numerous c@rp from LTSB's CEO's office confirming this. It's the blind leading the stupid.

Brilliant Bill, Ill get this copied and sorted tomorrow and mailed ( registered ) to BH an await there response, Ill post back when I hear back from them.

[Bill-K]

Re: Black Horse PPI reclaim

You're very kind, sir. I hope it does the trick. We may well find this to be a problem which needs addressing regularly in the future, so a good template might be worth working on.

As Turbo says, the FSA rules are a dog's dinner, and the consolidation loan calcs are not even understood by the banks. I have numerous c@rp from LTSB's CEO's office confirming this. It's the blind leading the stupid.

[Turboman]

Re: Black Horse PPI reclaim

what a fantastic letter bill

[Bill-K]

Re: Black Horse PPI reclaim

I hope this might serve as a basis for a response, D1anne. Chop and change as required, but we need to get some more detail from them without declaring our hand as yet. No need for specific figures from us at this stage.

Dear

Ref: Mis-Sold PPI Policy. Account No. XXXX


Thank you for your letter of xx/xx/xx, offering £xxxx.xx in response to my complaint about Mis-sold PPI.

Although the letter showed the different amounts, there was no explanation of how these amounts were calculated, and I have had to take further advice on this in order to make an informed decision as to whether to accept the offer. I do not consider that this offer has been made in compliance with the FSA’s Dispute Resolution Handbook in Policy Statement PS 10/12. DISP APP 3.9.4 states: "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."

There was no such explanation supplied with the offer, and it is therefore not deemed to have been properly made in compliance with the FSA rules. Please, therefore, will you supply the required detail in order for me to make an informed decision. In particular, I require CLEAR explanations of the various settlement figures shown in the closing statements, and how they have been incorporated into the calculations.

I also require CLEAR evidence that DISP APP 3.2.7 has been understood and followed. This states that: "The firm should consider all of its sales of payment protection contracts to the complainant in respect of re-financed loans that were rolled up into the loan covered by the payment protection contract that is the subject of the complaint. The firm should consider the cumulative financial impact on the complainant of any previous breaches or failings in those sales."

The mechanics of this are shown in PS 10/12 Appendix 2, Example 8. My calculations, when made using this method, show that your offer is far below that to which I am entitled. I require your confirmation that you have understood AND implemented the above example method, and a set of calculations which bear this out. I am just an ordinary person seeking redress, but you are an international bank. I expect an intelligent, coherent, and sincere response.

I thus look forward to hearing from you shortly.

Many thanks in anticipation.

Yours sincerely

[Turboman]

Re: Black Horse PPI reclaim

To be frank D1Anne---I'm floundering with this Consolidated Loans theory--which Bill also tells me is not explained properly anyway in the FSA Handbook Appendix 2-Example 8

[d1anne]

Re: Black Horse PPI reclaim

I can't reconcile anything at all D1anne with stuff in your early post from Black Horse---we will have to go for a request for more explanation--I've asked Bill if he will be good enough to start the the draft as he can remember the "disp" references--lol

Then you can take it from there and submit it if we are all happy

Turbs

Ok Turbs, thanks anyway, I will await Bills response and then move on from there, Bill had worked out some figures and put them in an earlier post but there was nothing there to show how he arrived at these figures, had there been I could have used these and drafted up a reply to black horse. Ill see what he comes back with......

[Turboman]

Re: Black Horse PPI reclaim

I can't reconcile anything at all D1anne with stuff in your early post from Black Horse---we will have to go for a request for more explanation--I've asked Bill if he will be good enough to start the the draft as he can remember the "disp" references--lol

Then you can take it from there and submit it if we are all happy

Turbs

[Turboman]

Re: Black Horse PPI reclaim

Hi--was just looking for the paperwork in my shelves to start again

Will work on it today--(had a load of personal stuff I'm afraid)

If I can't reconcile any of their figures now I've found my links re the Settlement Calculator etc---then we'll draft a note (not being specific re figures) but requesting more information on how their figures are calculated and quoting the relevant FSA directive which states you must be given the detailed information re redress in an understandable format--and asking them to set it out as Appendix 2 of the FSA handbook

Promise to post today--no excuses--

[d1anne]

Re: Black Horse PPI reclaim

Hi d1anne---my fault--got too many balls in the air at once and juggling them

We will debate this Sat/Sun--I am treating the refunds separately-Bill has treated them as consolidations as per FSA Handbook--we'll compare notes over weekend and post by Sun evening after we discuss over Skype between ourselves--sorry for delay

Any news on this Turbo ??

[d1anne]

Re: Black Horse PPI reclaim

Got it--trawled through "Thanks" in my profile--lol--not sure if it is helps--but I knew davb had posted the link I wanted re calculating Settlements using the new regulations just before it (post 311) http://www.financecalcs.co.uk/Calcs/Settlement.php

http://www.legalbeagles.info/forums/...892#post277892

Have just put in the figures fro my loan 1 for 2k, not sure what its telling me tho........lol told you i didnt understand these things......lol

[Turboman]

Re: Black Horse PPI reclaim

Got it--trawled through "Thanks" in my profile--lol--not sure if it is helps--but I knew davb had posted the link I wanted re calculating Settlements using the new regulations just before it (post 311) http://www.financecalcs.co.uk/Calcs/Settlement.php

http://www.legalbeagles.info/forums/...892#post277892

Cant find my mamoth post on a thread re Settlements + Davyb link (around July-August)--anybody remember?--the Search mechanism is shot-imo

Re: Black Horse PPI reclaim

D1anne, you could always respond to the bank saying that you are in the process of reviewing their calculations and you will respond in the next 14 days. They cannot push you to take an offer when you need to verify that the figures that they have quoted are correct first.

[d1anne]

Re: Black Horse PPI reclaim

Hi d1anne---my fault--got too many balls in the air at once and juggling them

We will debate this Sat/Sun--I am treating the refunds separately-Bill has treated them as consolidations as per FSA Handbook--we'll compare notes over weekend and post by Sun evening after we discuss over Skype between ourselves--sorry for delay

No Probs Turbo, I am NO expert as you know but i would think that the workings would have to show consolidations as one loan paid off the other etc and going by the info i have received fro BH that seems to be the way they have looked at things, so I think id need to show the new workings in this way when i am disputting there offer. I just feel that as i reveived there offer letter on 18th December, I should be looking at replying to them ASAP, i cant of course with out your help ( as I dont understand the workings myself !!!!! )

As always help would be appreciated.

[Turboman]

Re: Black Horse PPI reclaim

Hi d1anne---my fault--got too many balls in the air at once and juggling them

We will debate this Sat/Sun--I am treating the refunds separately-Bill has treated them as consolidations as per FSA Handbook--we'll compare notes over weekend and post by Sun evening after we discuss over Skype between ourselves--sorry for delay

HI Turbs / Bill,

Do we have any update on this, I should probably ( I recon ) be looking at / composing some sort of letter back to Black horse..... any help would be appreciated.

[d1anne]

Re: Black Horse PPI reclaim

HI Turbs / Bill,

Do we have any update on this, I should probably ( I recon ) be looking at / composing some sort of letter back to Black horse..... any help would be appreciated.