Black Horse PPI reclaim

[d1anne]

Re: Black Horse PPI reclaim

Right--back (Queen Live in Budapest fantastic btw--just been there and it was great to recognize places)

Well done Bill on work so far

Will get back on figures after breakfast--in meantime--Bill--do you want to post the SS's in Simiantics.

Eventually when me & Bill have reached consensus-I will post all in 1 post (if you ok with that D1Anne)

• the images that Blackhorse sent D1Anne and me and Bill now got access to
• post 8 figures from D1Anne
• figures that me & Bill think are fair with explanations

So that others can see the detailed analysis

Right--back later

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

D1Anne

What date did you receive the info in post 8?

Was there anything in the covering letter which told you what date the 8% stat interest was calculated up to?

Turbs

I received the info in post 8 letter dated 18th December 2012
8% interest calculated till 15th january 2013 going by other info on the first letter I have received.

[Turboman]

Re: Black Horse PPI reclaim

D1Anne

What date did you receive the info in post 8?

Was there anything in the covering letter which told you what date the 8% stat interest was calculated up to?

Turbs

[Turboman]

Re: Black Horse PPI reclaim

Right--back (Queen Live in Budapest fantastic btw--just been there and it was great to recognize places)

Well done Bill on work so far

Will get back on figures after breakfast--in meantime--Bill--do you want to post the SS's in Simiantics.

Eventually when me & Bill have reached consensus-I will post all in 1 post (if you ok with that D1Anne)

• the images that Blackhorse sent D1Anne and me and Bill now got access to
• post 8 figures from D1Anne
• figures that me & Bill think are fair with explanations

So that others can see the detailed analysis

Right--back later

Turbs

[Bill-K]

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.

[Turboman]

Re: Black Horse PPI reclaim

Hi D1Anne

me & bill started discussing on Skype--BUT


Queen on BBC4 Sky 116 till 3:00am including Queen Live in Budapest (just been there)

Sooooooo--as most on here know---everything stops for Queen for me---so sorry Bill & D1Anne--out of the game till morning-pmsl

[Bill-K]

Re: Black Horse PPI reclaim

That's looking good to me for interim figures so far Turbo. As you say, we need to get to grips with the settlements, and then the carried forward PPI amounts. From what I can see, they have a settlement figure, which will be the total amount c/f'd to the next loan. Then they have credited the account with an early settlement PPI rebate. BUT - it appears that they have then clawed this back with a mysterious debit.

[Turboman]

Re: Black Horse PPI reclaim

I think we may have all we need with these statements + your info as in post 8

Me and Bill now need to get our heads round understanding their logic

However--you definitly had PPI on all 3 loans

• Loan 1---£323.43 PPI Loan for your £2,000.00 Advance making total loan £2,323.43 ie PPI is 13.9203% of Total Loan
  
• Loan 2---£1,142.99 PPI Loan for your £5,000 Advance making total loan £6,142.99 ie PPI is 18.6064% of Total Loan
• Loan 3---£2,496.04 PPI Loan for your £10,000 Advance making total loan £12,496.04 ie PPI is 19.9747% of Total Loan
  

These %'ge are our Apportionment Factors from which we derive the PPI element of your monthly payments

see here for theory: http://www.legalbeagles.info/forums/...c-Spreadsheets

So at the moment I have deduced

• For Loan 1 you paid 6 x £71.66 = £429.96 giving £59.82 as in Post 8 first line (within a couple of pence)
• For Loan 2 you paid 6 x £128.43 = ££770.58 giving £143.40 as in Post 8 first line (within a couple of pence)

Now need to work on Interest etc Settlement Pymnts but having a break for an hour---BUT I think me and Bill got all info we need--

Turbs

Thanks Turboman, i have cross referred the first letter they sent with there wierd figures ( I have posted this info in a thread above ) and what i received today but went over my head ( probably what the figures are designed to do ) sorry I dont have any settlement letters from them from what i can recall I called them up asked for a settlement figure and paid to clear them off as the statement on loan 3 shows. still makes no sense to me tho......... lol
I appreciate what you and Bill are doing tho and am eternally grateful, I will await your response of what you have come up with and see what my next step will be.

[d1anne]

Re: Black Horse PPI reclaim

Hmmm---they have been very co-operative in giving you the 3 statements so detailed--most unexpected

What we now need to do is separate the Loan into its 2 components for each of the 3 loans

• 1-The Cash Advance
• 2-The PPI SPI Loan

We'll peruse these now this evening between ourselves when Bill comes on-line (we discuss things via Skype webcam)
Ideally--we'd like the Settlement Letters for the loans--but no matter--we'll see if we can reconcile stuff from what we've got and post 8

I expect we will come back to you late evening/early morning D1

Turbs

Thanks Turboman, i have cross referred the first letter they sent with there wierd figures ( I have posted this info in a thread above ) and what i received today but went over my head ( probably what the figures are designed to do ) sorry I dont have any settlement letters from them from what i can recall I called them up asked for a settlement figure and paid to clear them off as the statement on loan 3 shows. still makes no sense to me tho......... lol
I appreciate what you and Bill are doing tho and am eternally grateful, I will await your response of what you have come up with and see what my next step will be.

[Turboman]

Re: Black Horse PPI reclaim

Hmmm---they have been very co-operative in giving you the 3 statements so detailed--most unexpected

What we now need to do is separate the Loan into its 2 components for each of the 3 loans

• 1-The Cash Advance
• 2-The PPI SPI Loan

We'll peruse these now this evening between ourselves when Bill comes on-line (we discuss things via Skype webcam)
Ideally--we'd like the Settlement Letters for the loans--but no matter--we'll see if we can reconcile stuff from what we've got and post 8

I expect we will come back to you late evening/early morning D1

Turbs

[Turboman]

Re: Black Horse PPI reclaim

Ok...will look when i get on my desktop in an hour ish (on phone now)

[d1anne]

Re: Black Horse PPI reclaim

Send em to simiantics@gmail.com both me & Bill have joint access d1Anne and totally private to only us 2

Thanks, have sent as requested, i did try to attach on forum but for some reason it didnt work !!!!!!! lol

[Turboman]

Re: Black Horse PPI reclaim

Send em to simiantics@gmail.com both me & Bill have joint access d1Anne and totally private to only us 2

I haqve received this morning spreadsheets for all 3 of my loans, i think it will probably be best to scan these and attach rather than type all the info on them up, I have to say tho, i dont see anything on them about PPI but i must have it or they wouldnt be offering me a refund of £1199.11 when i work out how to, ill blank out my personal details and scan these and post them for you to see, hopefully then someone will be able to look and see if they have worked the refund payment out correctly......

Bill can you provide e mail address i can send attachments to, just incase i cant work out how to put attachments on here.

[d1anne]

Re: Black Horse PPI reclaim

If you phone tomorrow--ask them to give you the detailed information on the calculations--if they will do that--it will save the need for a DSAR

I haqve received this morning spreadsheets for all 3 of my loans, i think it will probably be best to scan these and attach rather than type all the info on them up, I have to say tho, i dont see anything on them about PPI but i must have it or they wouldnt be offering me a refund of £1199.11 when i work out how to, ill blank out my personal details and scan these and post them for you to see, hopefully then someone will be able to look and see if they have worked the refund payment out correctly......

Bill can you provide e mail address i can send attachments to, just incase i cant work out how to put attachments on here.

[d1anne]

Re: Black Horse PPI reclaim

We'll be glad to check your settlement offer, D1anne. If you prefer privacy, there is an email address that Turboman and I use for this purpose.

As regards the tax - your refunded PPI is not taxable, but any 8% compensatory interest you receive IS liable for Income Tax. So - technically - this should be declared as income to HMRC. However, if you are below the tax threshold, then of course you should not have to pay tax on this. Some lenders are now deducting Income Tax from this 8% interest, which I personally don't think they should be allowed to do, and I'm not exactly sure how you should go about preventing them from doing this - but I would suggest that you tell them you are exempt from tax, and that there should be no deduction. Hopefully, another member will be able to help with this.

Thanks Bill, ill be back in touch as soon as i receive the info i have requested from Black Horse.