black horse ppi

[kgrant]

we took out a secured loan with black horse in 2006 for around £8500 we were told that we would have more chance of getting the loan if we took out the ppi and they were rather pushy in selling it to us , the loan has since been paid off after we remorgaged , but if we had have had the loan for the full term of 120 months the total cost of the ppi would have been £7534.80, is it possible for me to reclain the ppi

[hellhasnofury]

we took out a secured loan with black horse in 2006 for around £8500 we were told that we would have more chance of getting the loan if we took out the ppi and they were rather pushy in selling it to us , the loan has since been paid off after we remorgaged , but if we had have had the loan for the full term of 120 months the total cost of the ppi would have been £7534.80, is it possible for me to reclain the ppi

 

Hello Kgrant,

 

Send them a S.A.R - (Subject Access Request) you will find the letter in the ppi stickies, cost £10 and they have a legal duty to comply with your request in 40days.

 

They should provide information regarding the loan and the ppi,

 

Be mindful that if you settled the loan early, you also need a breakdown of the settlement figures as they probably would be a rebate from the cancelled ppi into the final balance owing.

[kgrant]

i still have the loan documents , there was a rebate when we paid it off but as far as i know it was only the interest

[kgrant]

i also have a current loan with black horse can i cancel the ppi on that ? and would it reduce my payments?

[kgrant]

bump

[kgrant]

anybody:-|

[kgrant]

bump

[alanalana]

Hello kgrant,

 

When it comes to PPI cancel everything you can as fast as you can.

Then ask for a refund of the insurance premium cost and the interest plus the statutory interest on top. Make sure you have all the Consumer Credit Agreements and if not ask for them (see stickies for template letter)

Creditors and DCAs - Letter Templates & Budget Planner

 

select letter N to obtain Consumer Credit Agreement and statement of account. Fee is £1.00 (They have a legal requirement to reply within 14 days under section 77 and 78 of the Consumer credit Act 1974). You can also ask for a Data Subject Access Request under the Data Protection Act 1998 as per hellhasnofury post this will cost you £10 but as hell has pointed out to me they the banks can decide what they give you, not fair and within the rules of fairness within the British Banking Code of Practice but how would you know what information they have, short of visiting the branch with a search warrant in the company of several policement?

 

Much of this information is courtesy of hellhasnofury so remember to tick her scales for the help provided.

 

aa

[hellhasnofury]

Hello Kgrant,

 

Have a read of this and quote this when you ask them to cancel your ppi,

 

Consumers to benefit from PPI refunds agreement

 

There should be a portion of unpaid ppi refunded into the balance of the loan therefore reducing it. This can then infact lower your monthly payments or reduce the term of the loan. If the policy was a single front loaded premium you pay the most from the start of the loan, so there may not be too much left to refund if the loan has been running for a while.

 

Ask them for written confirmation that they have cancelled it and you require a breakdown of the figures as well, this will help you work out how much of a refund you required regarding the mis-sold portion of the ppi you have paid for and wish to be returned:grin:

 

Do not under any circumstances sign a new agreement. You mention that you have all of your loan agreements. But do they:wink: as AA has suggested do sent the request for your ca. This will cover all bases.

[Demtootief]

Can someone please advise what can be done where I had a Loan with an financial organisation but cannot remember the Agreement No, and the company is trying to stall you by requesting the Agree. No? I am having this done by both Ebdeavour Personal Finance and also Blackhorse.

 

Thanks

[kgrant]

which S.A.R do i send is it just the standard one? also which one do i send when i want to request a refund? also i have had a couple of accounts with black horse all i think have had ppi can i ask for the information on these agreements in one S.A.R

[hellhasnofury]

which S.A.R do i send is it just the standard one? also which one do i send when i want to request a refund? also i have had a couple of accounts with black horse all i think have had ppi can i ask for the information on these agreements in one S.A.R

 

Hello Kgrant,

 

Send them this SAR it is in the ppi stickies and here is the link

 

Full S.A.R - (Subject Access Request) for ppi

 

Copy and paste, amend to your own details, add both account no's as one request is required for all information they hold on you:-D Send your £10 fee as a postal order and send it recorded delivery. You can check on the royal mail website to ensure that they get it. They have a statutory timelimit of 40 days to comply, but allow 2 days for postage.

 

Once the info comes you have then to work out what they owe you, There will be the ppi premiums and then the interest they charged you on top for the privilege, and then of course you will have to put these figures on a spreadsheet, which will work out the interest on the refund you wish on top:D

 

Lets wait till we get the figures and know what you are going after before you write your letter for the refund. There are a few kicking about the thread which can be altered for your needs. Whilst waiting for your SAR to come spend this time reading about, so you know how to tackle any little problems,

 

There is also a lot of help and advice for fellow ppi reclaimers, so if you have any questions just ask:D

 

And of course many thanks for the clicky thing.

[hellhasnofury]

Can someone please advise what can be done where I had a Loan with an financial organisation but cannot remember the Agreement No, and the company is trying to stall you by requesting the Agree. No? I am having this done by both Ebdeavour Personal Finance and also Blackhorse.

 

Thanks

 

Hello Demtootief (How did you come up with that name:D )

 

Yes these companies do like to prolong and frustrate matter, just keep at them let them know you are not going away. Your name, address and date of birth should be sufficent.

[Demtootief]

Hello Hellhasnofury,

 

I really tried to come up with a unique name that says exactly what I think of all these banks and financial institutions.......and this one I think fits the bill to a 'T'.

 

What I am planning to do is to send Endeavour a reply letter to say that my name and address is still the same as is my date of birth. They are also saying that they want proff of ID, and so I am planning to send my passport ot Drivers Licence by registered post, enclosing a S.A.E. also registered to get it returned. I will see what they come back with. I will be sending off the reply letter to them tomorrow.

 

Thanks for the encouragement.

[kgrant]

we have had 3 loans with black horse over the last couple of years all had ppi that was a single payment policy and we were charged interest on this , we were told that it would help our application and we were not told we could get cover elswhere do we have a claim?

[dx100uk]

yes

 

go get 'em

 

see the notes thread in the this forum

 

 

dx

[kgrant]

thanks , i dont need to sent the sar as i have all three loan agreements

[dx100uk]

great so all you need to do, is calulate what they now owe you [+8% stat int} and fire off the letter claiming mis-sell.

 

dx

[alanalana]

hello kgrant,

 

welcome to the PPI forum:)

 

we have had 3 loans with black horse over the last couple of years all had ppi that was a single payment policy and we were charged interest on this , we were told that it would help our application and we were not told we could get cover elswhere do we have a claim?

 

Please have a look at these links to make a decision on whether the PPI was mis-sold in your opinion......

 

For claims before 2005 and the FSA ruling from which campaign

How to tell if you’ve been mis-sold PPI

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

The above come from this link in stickies..... links

 

A lot of information in here some will be useful and other stuff not. Pick out the bits that may help you go on with a claim to a successful outcome.

 

From your initial post I would suggest YES you have a claim but do some research before proceding as this will give you more confidence once you start the process.

 

Good luck and post for help when you need advice.

 

aa

[hellhasnofury]

thanks , i dont need to sent the sar as i have all three loan agreements

 

Hello Kgrant,

 

Welcome to the ppi forum:D

 

During my time of the site, I have been educated into varying aspects of the consumer legislation.

 

I feel it is important to cover all aspects of consumer rights when requesting back your mis-sold ppi, ppi interest and statutory interest to boot.

 

To hit them where it really hurts and make them sit up to attention, I believe there are 3 important areas to challange them on:D.

 

1. Mis-sold ppi

 

2. The actual credit agreement:D

 

3. Any commission based payments:D

 

Here is a link to a very interest topic regarding credit agreements. It is extremely interesting when you then apply it to your own credit agreement:D

 

Multiple agreements falling within section 18 CCA 1974

 

Any questions just ask:D

[kgrant]

i have had 3 secured loans with black horse over the last few years , all had PPI andall were added to the loan at the start , we wasnt informed that we could take out seperate insurance and we were told that we probably wouldnt get the loan unless we took the ppi, i sent a SAR to blackhorse in the summer and eventually they sent me the information after about 4 months, im still to go through it all and work out how much the PPI worked out at , but these are all loans that have been paid off can i still claim the PPI back? also we have a current loan with black horse and we cancelled the ppi on that but the new repayment isnt what it would have been without the ppi is this right its about £45 more than it should be

[nunnyrose]

Subbing as I also have the same situation.

on the current loan when you have cancelled the ppi did you get any payment back or credited to the loan? I only ask because when I requested that ppi was cancelled I was told it had been done, and my payment amounts didn't change - when I payed the loan off it transpired that the ppi had never been put in place from the start although I was paying for it so its worth checking.

[birchave0]

Yes you can claim on loans that have been repaid, especially if a current loan was used to pay off original.

 

Lloyds tend to shorten the term of the loan rather than adjust your monthly payments (lower them) and let the loan run for it's original time.

 

This is a bit unfair as you don't feel the benefit, what they should do is adjust your payments to an amount you would have been paying had the PPI never been sold.

 

I'm afraid Lloyds are guilty of the old take the PPI or you won't get the loan/credit card they have done this to me on more than one occassion

[reidnet]

That is a trick of Lloyds, Reduce the loan period with the refunded PPI premium, They tried that with me few years back. Though I told them that was not an acceptable solution and that I wanted the refund paid back in one lump sum cash.

 

They paid trhe full amount back into the account they were taking my loan payments from.

 

Any refund is your Money so you Decide what you want to do with it.

 

I did originally have all my Lloyds PPI posts on here but removed them due to legal reasons.. Long story..lol they didnt like being spoken about on Tonight with Trevor McDonald..

 

Ian

[amber]

Reidnet,

 

I read in one of your threads that you had some dealings regarding the Rule of 78 and won your case, could you please take a look at my thread on here and offer some wisdom. Thanks

 

Amber