Blakhorse mis-sold ppi as self-employed

[tonycee]

Watching with interest as im a few weeks behind you.

This site has a wealth of information, you can register and ask specific questions that we dont know the answers to YET, hope it helps.

 

Reclaim your PPI premiums - payment protection insurance | This is Money

[hellhasnofury]

Hello Loukim,

 

Well one piece of good news, they have now eventually cancelled the ppi.

 

Now what is confusing about reclaiming ppi, is that if the loan is paid off, you have paid them all of the premium and interest and you can reclaim all of that back with interest on top.

 

When a loan is still running, there is still an amount of ppi and interest included in the balance of the loan, so therefore you have not paid for it, so unfortuneately the young man is correct, they will not refund it personally to you in the form a a cheque. They will removed the outstanding ppi and interest of the balance of the loan, therefore reducing it. They are still giving you the money, because you will owe less or it will reduce the term of the loan

 

Then you go for the amount of ppi and interest that you have paid, plus interest.

 

We need to know what the refund wasand then we can calculate the refund do you want in a personal cheque.

 

As for work, yes the population is ever increasing, but not the level of staff to do it.

[loukim]

Hello Loukim,

 

Well one piece of good news, they have now eventually cancelled the ppi.

 

Now what is confusing about reclaiming ppi, is that if the loan is paid off, you have paid them all of the premium and interest and you can reclaim all of that back with interest on top.

 

When a loan is still running, there is still an amount of ppi and interest included in the balance of the loan, so therefore you have not paid for it, so unfortuneately the young man is correct, they will not refund it personally to you in the form a a cheque. They will removed the outstanding ppi and interest of the balance of the loan, therefore reducing it. They are still giving you the money, because you will owe less or it will reduce the term of the loan

 

Then you go for the amount of ppi and interest that you have paid, plus interest.

 

We need to know what the refund wasand then we can calculate the refund do you want in a personal cheque.

 

As for work, yes the population is ever increasing, but not the level of staff to do it.

but surley as this a single premium this amount has been added to my loan as it is paid up front on the start of the loan so how i choose to have it is up to me cause i understood that they could give me back this money and i would carry on paying the same amount for the same time, but what they are offering is to pay it off the loan a reduce payment or bring the payment term down by so many months.

O so confused HHNF

[hellhasnofury]

but surley as this a single premium this amount has been added to my loan as it is paid up front on the start of the loan so how i choose to have it is up to me cause i understood that they could give me back this money and i would carry on paying the same amount for the same time, but what they are offering is to pay it off the loan a reduce payment or bring the payment term down by so many months.

O so confused HHNF

 

Hello, Loukim,

 

Please look at this as a small victory for you. Now if the policy was paid more upfront, more the refund payable to you, when you reclaim back the ppi you have paid.

[loukim]

well spoke to the robbers and have agreed to cancel PPI as a GOGW but only from the first date that i contacted them:mad:

They said i will receive a cheque for one months PPI written out to myself and any rebate due from the PPI as from the same date will be deducted from my loan(beggers belief)

I have written them another letter clearly stating i donot except there letter saying it is their final responce as they have only answered 1 question and there are 12 more that need answering i.e

 

why was significant exclusions and limitations not explained ? as if they was then we would have been made aware that Mr ** was not covered for invol-unemployment and so would have the sales person, and this has been done on not 1 but 2 policies.

 

I also noticed and informed them that on the bottom of our PPI policy it reads.......

This policy certifies that you are insured for life, disability, involuntart-unempolyment and critical illness cover depending on the level stated in the credit agreement, and both my credit agreemeents clearly read life, disabilty, invol-unempolyment as well as my husband work details on the Demands & Needs as self-employed on both policies.

 

I will not except this all been down to a system error as they say:mad:

 

Come people get your thinking caps on and let me know what you think:confused:

[Guest ChloeJane]

Hi there,

 

Ok, firstly they have to refund it to you! They cannot take it off the term of the loan. They forwarded me a cheque and my loan repayments went down accordingly. The cheque was for the entire 2 years of mis sold PPI, they re calculated the loan as the PPI front end loaded the loan and so I got the cheque and the payments reduced.

 

As it is mis sold you can demand from the date of the loans inception but only up to a maximum of 6 years.

 

You need to stand your ground with them which if you are dealing with their PPI refund office, they are paid a bonus on their ability to scratch back what they can, so whoever you speak to has their own agenda.

 

The refund they cannot put on the loan. By law it was mis sold and you could never have claimed on it, you are entitled to the refund by cheque directly to you as it was never part of the loan and It is a completely seperate policy and is run by a 3rd party insurer with blackhorse of which they are nothing to do with.

 

So.....you need to write to them and make it formal. Stating the following points clearly.

 

1) The PPI was mis sold you could never have claimed on the policy.

2) The PPI was not part of the loan as you were misled to believe.

3) The PPI has been paid as seperate to the loan to a 3rd party insurer

4) The PPI was not sold under the FSA Guidelines

5) That you are prepared to take the matter into the courts.

 

You need to be very clear on the above points. In your letter you need to state the date of the loan (when it began) and ask for a full calculation of PPI payments be deducted from the start of the loan and that a cheque be raised accordingly for refund of all PPI payments since the loan inception and payments now reduced to reflect this.

 

I made it clear in the letter that I knew my rights and the letter was in accordance with the Civil Procedure Rules and the letter is complaint with Pre Action Protocol before filing a case against them.

 

I put on the letter that they had 14 days only, in which to reply.

 

I did this and faxed and dealt only with their mis sold PPI department. I was 5 days away from my deadline date of filing in court and they paid up!

 

The letter needs to be clear and in point form covering the above areas.

 

If you need help with the letter, please post back.

 

Don't be bullied, stand your ground. My loan and the PPI cost me less than you are fighting for on a £1,500 loan but for 2 years it cost me £340! Just for PPI. I have had the cheque and now payments are £21. a month less. They tried everything from sending me back to the insurers to see if I could have claimed. I stood firm and argued.

 

All the best. Will look out for your posts.

[lizzy40]

Chloejane can I just ask did you ask for contractual interest as well?

[loukim]

Hi there,

 

Ok, firstly they have to refund it to you! They cannot take it off the term of the loan. They forwarded me a cheque and my loan repayments went down accordingly. The cheque was for the entire 2 years of mis sold PPI, they re calculated the loan as the PPI front end loaded the loan and so I got the cheque and the payments reduced.

 

As it is mis sold you can demand from the date of the loans inception but only up to a maximum of 6 years.

 

You need to stand your ground with them which if you are dealing with their PPI refund office, they are paid a bonus on their ability to scratch back what they can, so whoever you speak to has their own agenda.

 

The refund they cannot put on the loan. By law it was mis sold and you could never have claimed on it, you are entitled to the refund by cheque directly to you as it was never part of the loan and It is a completely seperate policy and is run by a 3rd party insurer with blackhorse of which they are nothing to do with.

 

So.....you need to write to them and make it formal. Stating the following points clearly.

 

1) The PPI was mis sold you could never have claimed on the policy.

2) The PPI was not part of the loan as you were misled to believe.

3) The PPI has been paid as seperate to the loan to a 3rd party insurer

4) The PPI was not sold under the FSA Guidelines

5) That you are prepared to take the matter into the courts.

 

You need to be very clear on the above points. In your letter you need to state the date of the loan (when it began) and ask for a full calculation of PPI payments be deducted from the start of the loan and that a cheque be raised accordingly for refund of all PPI payments since the loan inception and payments now reduced to reflect this.

 

I made it clear in the letter that I knew my rights and the letter was in accordance with the Civil Procedure Rules and the letter is complaint with Pre Action Protocol before filing a case against them.

 

I put on the letter that they had 14 days only, in which to reply.

 

I did this and faxed and dealt only with their mis sold PPI department. I was 5 days away from my deadline date of filing in court and they paid up!

 

The letter needs to be clear and in point form covering the above areas.

 

If you need help with the letter, please post back.

 

Don't be bullied, stand your ground. My loan and the PPI cost me less than you are fighting for on a £1,500 loan but for 2 years it cost me £340! Just for PPI. I have had the cheque and now payments are £21. a month less. They tried everything from sending me back to the insurers to see if I could have claimed. I stood firm and argued.

 

All the best. Will look out for your posts.

Thank you for your reply

as reguarding the rebate this is on a loan that is still running and they said they can not give me the rebate for cancelling the PPI personal as this would put me in debt to my loan and could only cancel the PPi as from the date i first contacted them and they ONLY would take any rebate off my loan as the loan was still running and if the loan was cleared then i would be able to have the refund as form of cheque to myself, then questioned me why was i cancelling the PPi:evil: as this would cause me problems if i was to win my case when it come to sorting out a refund, i did stress to them that this was a single premimum and that it was paid up front and regardless of what they had to say the money was mine.

So what next if you say i can have this money as a cheque written out to myself can you help me with a letter ?

they have not yet told me what and if how much rebate i would get said they would not and could not discuss this over the phone.

[Guest ChloeJane]

I did not go for contractual or other interest.

 

I will post back later today with a letter for you that is what I used. You can then fill in the blanks if you like?

 

It is a copy not too different than when I sent and I did get a result. I can only say what worked for me and to try it?

 

Post copy of letter letter when on main pc.

 

CJ

[loukim]

I did not go for contractual or other interest.

 

I will post back later today with a letter for you that is what I used. You can then fill in the blanks if you like?

 

It is a copy not too different than when I sent and I did get a result. I can only say what worked for me and to try it?

 

Post copy of letter letter when on main pc.

 

CJ

Thank you

[stan5131]

Lou. Have only just received your PM. Recently moved to Turkey and have only just got back online.

 

Give me chance to have a good read of your thread and I will try and give some positive input.

 

Regards

 

Stan

[hellhasnofury]

Lou. Have only just received your PM. Recently moved to Turkey and have only just got back online.

 

Give me chance to have a good read of your thread and I will try and give some positive input.

 

Regards

 

Stan

 

Hello Stan,

 

Really good to see you back on line. Hows Turkey, I wondered were you had gone:D

[stan5131]

Hi Hell, you were always the early worm lol. Fortunately I am 2 hours ahead of you here.

 

Turkey is a bit like living in the dark ages at times and I have waited months for internet connection.

 

 

 

Now I am back connected, I am continuing with the claims that were unfortunately put on hold.

 

Just putting on my war paint!

 

Stan

[loukim]

Just got phone call from FOS saying they have written to blackhorse and told them that from FOS's point of view both PPI's have been mis-sold to me blackhorse have 14days to reply but can request a further 14 days

 

Lady from the FOS said i may get a phone call from them regarding a refund ???? or they may try and argue their case but from what she can see they have mis-sold on many accounts.

Has anybody else had the FOS involved and what happens next ?

 

Sounds to good to br true.....

[hellhasnofury]

Just got phone call from FOS saying they have written to blackhorse and told them that from FOS's point of view both PPI's have been mis-sold to me blackhorse have 14days to reply but can request a further 14 days

 

Lady from the FOS said i may get a phone call from them regarding a refund ???? or they may try and argue their case but from what she can see they have mis-sold on many accounts.

Has anybody else had the FOS involved and what happens next ?

 

Sounds to good to br true.....

 

Excellent news Loukim, today is just getting better and better. Hopefully they will see the error of their ways and pay up what they owe you. and if they don't It would look very good indeed for court.

 

Justice is in sight, and egg on their faces:lol: You good work is paying off

[tonycee]

Justice is in sight

 

I SO agree.

Well done loukim, being self employed myself, this is great news.

I will watch with interest..

[stan5131]

Hi. literally just managed to catch up on all threads ive subscribed to. I have just finished reading through your thread to find that you have had a successful outcome.

 

I am dealing the PPI and Blackhorse for a friend of mine. We wrote to FOS five months ago and all she has ever had is a letter saying is has been passed to a case worker. When she tries to call the case worker is never at her desk. The claim is for £20,000 of mis sold ppi over about a 3 year period.

[loukim]

Well neither the FOS or myself have had any reply by Blackhorse as to date

I would really like to know what Blackhorse are going to do agree with FOS to upheld my complaint or fight it out ???????

 

If only i had a looking glass.................

I cant seem to find any threads with anybody who has won by using the FOS so really dont know what to expect :o

[stan5131]

Lou. I have updated my thread re Blackhorse. FOS case worker have agreed with us and written to Blackhorse and asked them to refund. Blackhorse disagree and are appealing the decision. They have asked that the Financial Ombudsman look at the case personally. I am told on good authority that he rarely disagrees with the case workers as their investigations are thorough.

 

However, only drawback is that it could be a couple of months before the Ombudsman gets round to looking at it. I suspect this will happen to you as Blackhorse will just see it as another way of delaying payment.

 

Stan

[loukim]

Well this is just to wish you all a very

 

...............MERRY CHRISTMAS.............

[hellhasnofury]

Merry xmas to you to and hoping you have a very prosperous new year:D

[loukim]

Got a phone call and e-mail from FOS on 28/12/07, said they have rung blackhorse as they have had no reply and they was told the chap dealing with this is on holiday till 03/01/08 and had left a message to say he will contact them when he returns to work. FOS have now given them till the 14th January allowing them an extra 14days to reply, FOS said they had given them a few more days due to holiday period.

 

Well who knows what happens next i dont think they are going to agree with FOS.

[loukim]

I HAVE WON !!!!!!!!!!!!!!!!!!!!!!

Just got phone call from FOS to say Blackhorse have agreed to pay me back

[tonycee]

 

 

 

Congratulations.

Being S/E myself, which could be the basis for my claim.

I am particually pleased for you.

 

WAY TO GO>>>>>>

[loukim]

 

 

 

Congratulations.

Being S/E myself, which could be the basis for my claim.

I am particually pleased for you.

 

WAY TO GO>>>>>>

 

FOS said Blackhorse will be in contact with me to let me know when they have worked out what my refund will be and they have said that they have told Blackhorse to pay 8% interest.

Not bad as FOS informed on the 16/10/07 and FOS wrote to blackhorse on 10/12/07 to say they agree with me that PPI has been mis-sold.