Black Horse PPI reclaim

[d1anne]

Re: Black Horse PPI reclaim

Sorry turbo, i dont have this info, cant remember but are the settlement figures not on the 3 statements ?? i tried to call them just now to ask for the settlement figures and terms on esch loan but there closed, if you need this info i can call back tomorrow and see if there open and if they will give me the info on the phone.......

Have called BH this morning, they have been very helpful, lol have given me the info for the settlement figures for each of the loans, and the term i originally took the loans out on as well as how many payments via DD i made before paying the loans off early. ( see below )

Loan 1 for £2000 settlement £1879.39 term, 37 mths made 7 payments before clearing.
Loan 2 for £5000 settlement £5009.51 term 60 mths made 7 DD payments before clearing.
Loan 3 for £10,000 settlement £10,619.56 term 60 mths made 1 DD payment before clearing which they say they refunded.

Think most of this info is on the statments i e mailed except the loan terms, hope this info helps.

Re: Black Horse PPI reclaim

D1anne, that sounds a very sensible plan to me. I really do not agree with them taking tax when you may not be entitled to pay it after all they mis-sold the PPI and they should not have done that either.... naughty, naughty bank.

I wish you a very happy healthy and stressfree year for 2013 and hope that the bank will cough up quickly hun, they do not like to be told they have bundled the calculations and will object I suspect. However, this is your entitlement and you must fight for it all the way. I would put my trust in Turbs and Bill with these calculations as they are the best on the forums.

All the best

Tuttsi xx

[d1anne]

Re: Black Horse PPI reclaim

Thanks guys, as always, No i am not going to take the " QUICK fIX " the banks etc have been getting away with this for far to long....... makes me sick although people have got refunds that they are still being ripped off.

Ill go with Bill and Turbs, when they come to a conclusion, Ill write back to BH with your figures and see what they have to say, if no joy then im prepared to go down the FOS route. Surely when they see the figures all worked out they have to agree...... as for Tax, Kangaroo, Ill add that bit into there letter explaining to them that i am currently unemployed and should be exempt from tax..... well as the figures roughly so far go, it will be an extra £194 in my pocket ( not to be sniffed at )

I am out tonight and tomorrow night but will check back in Wednesday / evening to see if there are any further developments.

Once again thanks for your advice guys. and a happy new year to you all.

[Mr Kangaroo]

Re: Black Horse PPI reclaim

Only a month or so ago I helped a friend who whose PPI reward was calculated with 20pc Tax on it. The bank said he could claim it from HMRC if he wanted to. I asked him to challenge it and the bank wrote back still trying to justify it. But when the bank sent him a chq it was for a full amount without 20pc taken! So, it is worth it challenging. If he didn't challenge it he could have lost just over £900 - that is a lot! Good luck.

[Bill-K]

Re: Black Horse PPI reclaim

---will be back on your case tomorrow night

Will 'e 'eck as like - it's New Year's Eve !!!
D1anne - Turbo and I both agree that the offer is less than we think you are entitled to. IF you need a quick settlement, then by all means "Take the money and run." This is what I reckon they are hoping you will do - and this may well suit your circumstances right now, in which case you have every reason to go for it.

But - it seems as though there is a helluva difference between what they are offering, and what you are entitled to. Even if Turbo and I cannot yet agree on an exact figure, we agree that the offer is below your entitlement. BUT - it may well take a long time before you get what you are entitled to, as the FOS seems like the inevitable pathway, now. It's always 'your call.' Please let us know, and we will be with you all the way.

[Turboman]

Re: Black Horse PPI reclaim

D1Anne

Been on it most of today--not yet got consensus with Bill but I do agree that you are due more

Having tomorrow off-D1Anne & Bill ------will be back on your case tomorrow night

[Bill-K]

Re: Black Horse PPI reclaim

Of course

...subject to appearances of the Queen in faraway places - LOL !!! :moony:

[Turboman]

Re: Black Horse PPI reclaim

Of course

PHEW!!!!!! lol thought i was getting something wrong. cool, sending to turbo, look forward to seeing the final outcome then need to gather info etc to send to BH to dispute my claim..... ( I presume this is what i need to do next IF they have actually made errors during the calculation ??? will you be able to assist me with this ?? so that they can see the workings etc and comment.

[d1anne]

Re: Black Horse PPI reclaim

Not thick at all, D1anne - I actually made two errors in adding the totals from the three accounts. My calculation of he gross total PPI reclaim now comes to £3942.42, less Income Tax of £194.07, comes to £3748.35.

Because the 8% Statutory interest continues to accrue on the claim, then the total claim increases by approx. £0.63 per day until settlement (less approx. £0.12 tax per day).


Turbo has yet to see my calculations, which I will send to him now.Sorry, I can't help with that, mate. Can you remember whose thread, and what lender ?

PHEW!!!!!! lol thought i was getting something wrong. cool, sending to turbo, look forward to seeing the final outcome then need to gather info etc to send to BH to dispute my claim..... ( I presume this is what i need to do next IF they have actually made errors during the calculation ??? will you be able to assist me with this ?? so that they can see the workings etc and comment.

[Bill-K]

Re: Black Horse PPI reclaim

reference the highlighted bit above ???? what do you mean by calculations as at 30/01/12 ?? and why less income tax on a higher amount ?? ( sorry if im being thick !!!!!! lol

Not thick at all, D1anne - I actually made two errors in adding the totals from the three accounts. My calculation of he gross total PPI reclaim now comes to £3942.42, less Income Tax of £194.07, comes to £3748.35.

Because the 8% Statutory interest continues to accrue on the claim, then the total claim increases by approx. £0.63 per day until settlement (less approx. £0.12 tax per day).

Turbo has yet to see my calculations, which I will send to him now.

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

Sorry, I can't help with that, mate. Can you remember whose thread, and what lender ?

[Turboman]

Re: Black Horse PPI reclaim

I'm just examing the 2 entries

• Settled from new acc
• settlement adjustment

and trying to fathom out if you ACTUALLY paid the total of them

[d1anne]

Re: Black Horse PPI reclaim

D1Anne

I have dug out CCA's I have from another Blackhorse poster + a table of how PPI Refunds (not mis sold btw) are calculated depending on

• 1-The months elapsed before cancellation
• 2-The Term of the loan

Can you remember the original agreed term for the loans (3)--(ie 24,36,48,60,72 months etc)?

Also looking at the actual calculation of the Settlement figures using our Rule of 78 and also the newer method (got a thread somewhere-lol-with link DavyB gave me)

Re the actual settlements on each statement--can you tell me (from your bank stmnts if you got them) the actual sum paid out by you to "Settle" on

• 16-19/2/2007
• 3-4/12/2007
• 12/2/2008

We aint had such a complex case to verify for a bit (not since Nelliewops & Pompeyfaith) so will need more time twixt ourselves--but we'll get there

Turbs

Sorry turbo, i dont have this info, cant remember but are the settlement figures not on the 3 statements ?? i tried to call them just now to ask for the settlement figures and terms on esch loan but there closed, if you need this info i can call back tomorrow and see if there open and if they will give me the info on the phone.......

[Turboman]

Re: Black Horse PPI reclaim

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

[Turboman]

Re: Black Horse PPI reclaim

D1Anne

I have dug out CCA's I have from another Blackhorse poster + a table of how PPI Refunds (not mis sold btw) are calculated depending on

• 1-The months elapsed before cancellation
• 2-The Term of the loan

Can you remember the original agreed term for the loans (3)--(ie 24,36,48,60,72 months etc)?

Also looking at the actual calculation of the Settlement figures using our Rule of 78 and also the newer method (got a thread somewhere-lol-with link DavyB gave me)

Re the actual settlements on each statement--can you tell me (from your bank stmnts if you got them) the actual sum paid out by you to "Settle" on

• 16-19/2/2007
• 3-4/12/2007
• 12/2/2008

We aint had such a complex case to verify for a bit (not since Nelliewops & Pompeyfaith) so will need more time twixt ourselves--but we'll get there

Turbs

Yes im fine with figures etc being posted, will I be able to print something out in way of an explanation that BH SHOULD understand the workings so that I can go back to them with it disputing the offer amount and asking them to check calculations ?? Obviously IF you both agree that BH workings are wrong this is the next thing i will have to take up with them ??

[d1anne]

Re: Black Horse PPI reclaim

While Mr T is watching Queen, I have taken D1anne's figures and worked on them separately. I agree with the initial Apportionment Factors in post #36. What Turbo has realised, which I did not, is that either one or two payments were refunded to the account upon settlement. The 'Settlement Adj.' in the statements is - as far as I can understand - a sneaky way of avoiding the 'carry forward' of PPI from one loan to the next. I am having extreme difficulty with another claim, where LTSB are refusing to accept that the PPI must be properly carried forward.

So - I have taken the settlement figures from each account and combined them to give a final 'effective' settlement amount for each loan, and put these into 3 spreadsheets. I have also used these settlement figures to calculate the PPI which should be 'carried forward' to each loan. This has the effect of increasing the Apportionment Factor' in loans 2 & 3 from Turbo's original figures in post #36 (I need to point out that Turbo's figures were correct - but this is the next stage in the calculations). So - hopefully, Turbo and I will arrive at the same answer by slightly different routes - which will be good.

The bottom line is the total offer. BH have offered £1273.04, less income tax of £73.93, which comes to £1199.11.
By my calcs (as at 30/01/12), BH should have offered £3529.42, less income tax of £30.18, which comes to £3912.24.

Please don't get excited, yet, though. This needs Turbo's opinion. The difference in these figures needs checking out properly.

reference the highlighted bit above ???? what do you mean by calculations as at 30/01/12 ?? and why less income tax on a higher amount ?? ( sorry if im being thick !!!!!! lol