black and white mortgages struck off: question

highway_star_2

Hi

I had a call from Kensington today about a secured loan. Surprisngly it was good news rather than bad but sounded a bit odd.

The secured loan was through Black & White who apparently have been struck off for dodgy dealings. According to Kensington I am due a fair bit of money back regarding fees etc that B&W charged. Hoorah!

Thats the good bit, here is the bit that has me a wee bit suspicious: according to Kensington, there are now two things to be sorted out - the remaining cover of the original loan that I need to pay back (I think thats what they meant) to Kensington and of course the money due me. However to get this money - which will take up to 12 weeks for some reason - I need to pay a fee. Fair enough, but apparently the fee is almost £1k!!

Somewhere in all of this it sounds odd - why pay a fee of that level if I am legally due the money back (I didnt ask Kensington to carry out the claw back action)? I am also concerned that the old loan will be restructured to drag out for some time beyond originally planned (we are already 2+ years in to the loan).

Anyone any idea of what is going on here?

dimbo61

Dont pay them a penny this could be scam !
Tell them to take the £1000 fee out of your compensation!

maninthestreet

Don't pay Kensington a penny! If you are really due the money they say you are, you can claim it back yourself at no cost. Tell Kensington to get lost!

highway_star_2

have to say that I cant work out why I need to pay anything if its legally due to me - I havent spoken to them yet as I dont want sucked in to some kind of high pressured call where you are saying 'yes' when you dont mean it.

maninthestreet

highway_star wrote: »

have to say that I cant work out why I need to pay anything if its legally due to me - I havent spoken to them yet as I dont want sucked in to some kind of high pressured call where you are saying 'yes' when you dont mean it.

They are likely to keep calling you, as they have your telephone number - just hang up on them if they do.

samizdat

OMG! Under no circumstances should you hand over any money to these people. If indeed there is any substance at all in this story that you are owed money, you need to establish the facts yourself and deal with it yourself, not through a third party demanding an advance fee.

koexelek

highway_star wrote: »

The secured loan was through Black & White who apparently have been struck off for dodgy dealings.

That's good news.
Not before time

highway_star_2

I am looking to speak to Citizens Advice at the moment - regarding this bizarre fee (apparently we get this back when we receive the payout, which frankly is verging on a Nigerian Lottery 'win' offer as far as I'm concerned) and also to ask that if there is some miss-selling of a policy in this case why I still owe money to Kensington or anyone else and why they arent trying to get there money back via the owners of B&W.

We shall see.

happybroker

Black & White shut down ages ago, the FSA turned up at their offices with the police in tow who supervised the "removel of files"!! They were one of the old type sub prime brokers with massive fees and sales reps.

There are one or two of these "have your credit agreements written off" type firms calling ex Black & White customers and telling they are due £8k back without going into any further detail. There have been a couple of postings about it on this very forum.

Be very, very, wary is my opinion.

gmags

Does anyone know how to go about claiming from black & white mortgages??. As above, my dad keeps getting calls from Kensington who mention something about their insurers having a pot of money ready to dish out to badly treated borrowers who had effectively paid arrangement fees twice or something similar..????? (Kensington have offered to reduce their 1k fee to £500!!) I have told my dad not to go near them or pay any money out under any circumstances but am curious how I can maybe help him get something if he is actually due anything (or is it a scam??)
I'm aware of PPi reclaiming and reclaiming credit card and bank charges but as to mortgages - I'm stuck - what info would I need to begin?? What kind of things do you claim? Any guidance (however brief) would be most appreciated.
Thank you in anticipation!

koexelek

I remember Black and White used to offer an income of £100,000 per annum, and free sleeping pills.... as anyone with a concsience working for them would have struggled sleeping at night :cool: