Black Horse PPI Claim..

[maruvian]

Hi, all. I have not been on the forum for a while due to personal circumstances but I am now getting myself sorted.

I have recently made a PPI from Black Horse on a loan which was taken out and then defaulted and sold on to a DCA. I am now paying the DCA monthly. I got into difficulty making payments on the loan due to a long standing medical condition.

Black Horse have upheld my claim, however here is the part I don't get. The original amount of PPI placed on the loan was £2857.80, they have offered to pay me £153.00. They have stated that the loan is in arrears. However they no longer own the debt, the DCA own it. This means that when they sold the loan on to the DCA, the PPI element was still a part of the loan and makes up part of the amount that I am paying back to the DCA. So surely the only ways to put me in a position I would be had this not been sold to me would be, either re-calculate the loan or pay the full amount claimed.

I know that the loan has been sold to the DCA, as they recently took me court as I missed one agreed payment, and as part of the CPR request, I got the Deed of Assignment that relates to the loan.

I don't have an issue paying the DCA now I am able to. But this means that when the loan is paid, I will have paid back the full amount of the PPI, which was added to the loan. So it would be like I never had any redress for the mis-sale.

I am unsure how to move this forward so any advise would be greatly welcomed.

[di30]

Re: Black Horse PPI Claim..

Hi there

Welcome back and hope things are looking better for you.

So they are using the refund to reduce the balance through the collections DCA dept?

I am not certain and hope someone can clarify on this but if it was completely sold from the businesses collections dept onto another, I dont think they have rights to your refund, but did you previously have any letters about the debt being fully sold and assigned to another one?

[gillwall]

Re: Black Horse PPI Claim..

Hi
My barclaycard was passed onto a dca when i was unable to make payments due to ill health. I made a complaint about mis-sell of the PPI due to self employment, this was upheld, also i requested unfair charged to be refunded, which they did. I was told it was their policy to pass any refunds to the dca. I made a complaint to the FOS who have upheld my complaint and state that it is unreasonable for the creditert to forward any money to a thid party, informing barclaycard to refund all money back to myself. This was about two week ago, i am waiting for barclays response.
Gill x

[maruvian]

Re: Black Horse PPI Claim..

Thanks for the replies guys. They have not stated that they are passing the refund to reduce arrears, they have said that this all I am entitled to. Like I have said I am now paying the debt through a DCA and when i complete the payments, I will have paid the full amount, Including the PPI. I don't have an issue paying now I am able to but this seems unfair as I will still have paid the PPI that I was mis-sold.