Black Horse - Help Needed

loobylooireland

In January 1997 my husband and I took out a loan with Black Horse Finance. My husband was self employed and we wanted to borrow £20,000 to pay HMRC for arrears in Income Tax, PAYE and VAT. Black Horse said we could borrow £20,000 as long as we also borrowed enough, from them of course, to clear all other debts we had. At that time we owed £3,400 on a credit card + £400 to Next. I suppose in our panic to get the money in place to pay HMRC we did not scruitinize our credit agreement as well as we should have done. Now 3 years later when I asked for a copy of the original agreement I see we did not borrow what I thought we did but the agreement states it was £30,000. M&S credit card and Next were paid directly by Black Horse and £20,000 was lodged to our bank account. Figures dont add up! I have asked them for a breakdown of where the total £30,000 went and I have been given the run around on the phone between different offices and noone can answer me, they just refer me to yet another office.
They have also charged us £9,995 for Payment Protection Insurance over the life time of the loan ie. 10 years. They have also charged us £20,443 in interest!
When I asked for a copy of the PPI plan they said they did not have it and told me to ring Lloyds who they had purchased the plan from. When I ring Lloyds they tell me they do not have a copy of it because they sold it to Black Horse. Back and forth again between offices and am still no further on.
We are now several months in arrears with this loan as my husband has been declared bankrupt by HMRC in August. I am the only one bringing in a wage at the moment and with 3 young children to support we can no longer afford to make payments on this loan which is secured on our house.
When I asked for a copy of the original agreement about 4 weeks ago I was sent it along with 5, yes 5!!! other peoples details including loan agreements, bankruptcy details, names, addresses etc. Could I negotiate with Black Horse for reduced payments on this loan because of their breach of the Data Protection Act?
Or could I recaim the PPI as I feel it was mis-sold as husband was self-employed?
Sorry for the long ramble but am starting to feel very stressed over shortage of money. Any help would be greatly appreciated.

never-in-doubt

loobylooireland wrote: »

In January 1997 my husband and I took out a loan with Black Horse Finance. My husband was self employed and we wanted to borrow £20,000 to pay HMRC for arrears in Income Tax, PAYE and VAT. Black Horse said we could borrow £20,000 as long as we also borrowed enough, from them of course, to clear all other debts we had. At that time we owed £3,400 on a credit card + £400 to Next.

Ok, understood - your loan should be for £23,800.?

loobylooireland wrote: »

I suppose in our panic to get the money in place to pay HMRC we did not scruitinize our credit agreement as well as we should have done.

Ok, so you mean you read the agreement that the member of staff had in front of them and they never pointed out the exact total etc? (be careful how you word things lol)

loobylooireland wrote: »

Now 3 years later when I asked for a copy of the original agreement I see we did not borrow what I thought we did but the agreement states it was £30,000.

Ok, but you never agreed to borrow £30k? Also, where is the missing £6,200 that would make the totals add up?

loobylooireland wrote: »

M&S credit card and Next were paid directly by Black Horse and £20,000 was lodged to our bank account.

Ok, have you got a copy of your statements from the time to show what values were paid into both these accounts? If not request them (you may have to pay a fiver/tenner each in whaich case spend the tenner doing a SAR - 12. SAR Request - on both the companies which only costs a tenner and should include all previous statements)

loobylooireland wrote: »

Figures dont add up! I have asked them for a breakdown of where the total £30,000 went and I have been given the run around on the phone between different offices and noone can answer me, they just refer me to yet another office.

Have you done anything in writing or all verbally? You need to now write them one letter outlining your concerns and demand a response within 14 days prior to you reporting this matter to the FOS and FSA (via MoneyMadeClear).

loobylooireland wrote: »

They have also charged us £9,995 for Payment Protection Insurance over the life time of the loan ie. 10 years. They have also charged us £20,443 in interest!

Ok, so you start by reclaiming this - follow this guide: PPI Reclaiming MSE The whole amount should be refunded to you.

loobylooireland wrote: »

When I asked for a copy of the PPI plan they said they did not have it and told me to ring Lloyds who they had purchased the plan from. When I ring Lloyds they tell me they do not have a copy of it because they sold it to Black Horse. Back and forth again between offices and am still no further on.

Passing the buck - the FOS should deal with this and fine them accordingly..... you need to make your letter very strongly worded and demand compo and the difference of £6200 as well as the PPI repayments! I don't envy you - hard work coming up - but one good letter should do the trick.

I can be hired if necessary - not cheap though lol :rotfl:

loobylooireland wrote: »

We are now several months in arrears with this loan as my husband has been declared bankrupt by HMRC in August.

Eh? If hubby went b/r did he allocate half the loan to the petition or are you now soley liable? I'm not an expert on b/r so cannot advise too much on this (also be careful cos if BlackHorse know that he went bankrupt they could refund the PPI etc to the old debt, i'm not 100% sure so best to not tell them this unless they already know)....

loobylooireland wrote: »

I am the only one bringing in a wage at the moment and with 3 young children to support we can no longer afford to make payments on this loan which is secured on our house.

I suggest you sort the main issues first and use that as a bargaining tool - i.e. i've stopped paying because of all the mess they have caused. No judge would take your house, in fact it may be better to let them take you to court at least then you'll have an amazing defence! Personally, i'd be speaking to CAB asap!

loobylooireland wrote: »

When I asked for a copy of the original agreement about 4 weeks ago I was sent it along with 5, yes 5!!! other peoples details including loan agreements, bankruptcy details, names, addresses etc.

Have you done anything about this, i.e. returned the forms etc? I'd use this as another bargaining tool - in fact seek legal advice as well...... its either a case of you going public about this mess including the breach of DPA, or they sort their mess out! Its a hard one, i'd be negotiating big time with them! You hold the ace card really.... I just hope you've kept it to yourself, the fact you have other peoples details!

Out of interest, what does the CCA they sent you actually show? Does it show the £6200 anywhere or the mis-calculation? Maybe the salesperson pocketed the extra funds guessing you'd never notice? Incidentally, 3 years later you haven't lol (sorry but ironic really)....

loobylooireland wrote: »

Could I negotiate with Black Horse for reduced payments on this loan because of their breach of the Data Protection Act?

Definitely - it is actually quite severe and there are a wwhole host of issues - as I say, i'd be seeking legal advice - it may get you a good little deal. They have made major mistakes - in fact, several!

loobylooireland wrote: »

Or could I recaim the PPI as I feel it was mis-sold as husband was self-employed?

Yes, here: PPI Reclaiming MSE

Good Luck!

gerryscot

loobylooireland wrote: »

In January 1997 my husband and I took out a loan with Black Horse Finance. My husband was self employed and we wanted to borrow £20,000 to pay HMRC for arrears in Income Tax, PAYE and VAT. Black Horse said we could borrow £20,000 as long as we also borrowed enough, from them of course, to clear all other debts we had. At that time we owed £3,400 on a credit card + £400 to Next. I suppose in our panic to get the money in place to pay HMRC we did not scruitinize our credit agreement as well as we should have done. Now 3 years later when I asked for a copy of the original agreement I see we did not borrow what I thought we did but the agreement states it was £30,000. M&S credit card and Next were paid directly by Black Horse and £20,000 was lodged to our bank account. Figures dont add up! I have asked them for a breakdown of where the total £30,000 went and I have been given the run around on the phone between different offices and noone can answer me, they just refer me to yet another office.
They have also charged us £9,995 for Payment Protection Insurance over the life time of the loan ie. 10 years. They have also charged us £20,443 in interest!
When I asked for a copy of the PPI plan they said they did not have it and told me to ring Lloyds who they had purchased the plan from. When I ring Lloyds they tell me they do not have a copy of it because they sold it to Black Horse. Back and forth again between offices and am still no further on.
We are now several months in arrears with this loan as my husband has been declared bankrupt by HMRC in August. I am the only one bringing in a wage at the moment and with 3 young children to support we can no longer afford to make payments on this loan which is secured on our house.
When I asked for a copy of the original agreement about 4 weeks ago I was sent it along with 5, yes 5!!! other peoples details including loan agreements, bankruptcy details, names, addresses etc. Could I negotiate with Black Horse for reduced payments on this loan because of their breach of the Data Protection Act?
Or could I recaim the PPI as I feel it was mis-sold as husband was self-employed?
Sorry for the long ramble but am starting to feel very stressed over shortage of money. Any help would be greatly appreciated.

The level of customer services you have endured is outrageous.

I suggest you email your complaint to Paul.Phillips@ltsbasset.co.uk
Paul Phillips, Head of Compliance & Operational Risk ,LTSB Asset Finance
Tel: 029 2138 6354


He recently dealt with my refund for PPI, I received payment within 3 weeks.
He’s very efficient and will deal with your complaint promptly and methodically.

Wish you the very best of luck, keep us posted as to the outcome.

Gerry x x;)

gerryscot

never-in-doubt wrote: »

Ok, understood - your loan should be for £23,800.?

Yes, here: PPI Reclaiming MSE

Good Luck!

Never in doubt,

I am absolutely flabbergasted at the amount of work and information that you have given within in your post. People’s generosity, consideration and thoughtfulness within this site never ceases to amaze me. :T :T

You’re a true angel, one day you reap the rewards for your kindness. :A

Karma….

Gerry x x :smileyhea

never-in-doubt

gerryscot wrote: »

Never in doubt,

I am absolutely flabbergasted at the amount of work and information that you have given within in your post. People’s generosity, consideration and thoughtfulness within this site never ceases to amaze me. :T :T

You’re a true angel, one day you reap the rewards for your kindness. :A

Karma….

Gerry x x :smileyhea

Why thank you kind Sir :grouphug:

I do but try - plus the OP did PM me asking for help (why me, just one week with no PM's would be great! lol).......

Thing with this one is that the OP holds the ace card, they are in control 100% and should be using the mistakes as a bargaining tool - if I was dealing with this i'd be requesting full write-off plus PPI refund with a gesture of goodwill to keep shtum and return the other customers documents...... obviously i'd be happy to do this in writing and sign to agree to it

But i'll do the letter for the OP if they want, I do love a good fight..... so long as I get some brownies lol :rotfl:

gerryscot

never-in-doubt wrote: »

Why thank you kind Sir :grouphug:

I do but try - plus the OP did PM me asking for help (why me, just one week with no PM's would be great! lol).......

Thing with this one is that the OP holds the ace card, they are in control 100% and should be using the mistakes as a bargaining tool - if I was dealing with this i'd be requesting full write-off plus PPI refund with a gesture of goodwill to keep shtum and return the other customers documents...... obviously i'd be happy to do this in writing and sign to agree to it

But i'll do the letter for the OP if they want, I do love a good fight..... so long as I get some brownies lol :rotfl:

Your more than welcome, I can appreciate that you want a wee break now, but one day you will be rewarded in abundance for your kindness..
:A:A :A

Kind man I’m a wee lass from Bonnie Scotland. Thinking I’m a man seems to be a communal view today, I posted a thread relating to football. I’m sure the OP’s thought I was a football fanatic, big 6 ft man. Not a tiny wee Scottish lass, that’s may reach 5ft with high heals and that I’ve only attended one football game in my life and that was just for the promise of a good party afterwards.　
　
The op holds a huge ace card here, I would be using the same route as you going for a full refund, knowledge like that against a company is a very powerful tool you need to use it to its full advantage. Adverse publicity can do a lot of damage for a company, especially when never-in-Doubts is on your case. :eek: :eek: :eek:

I do suggest that you contact Paul Phillips, Head of Compliance & Operational Risk, [EMAIL="Paul.Phillips@ltsbasset.co.uk"]Paul.Phillips@ltsbasset.co.uk[/EMAIL] Tel: 029 2138 6354 Mobile: 07768 398959. He’s based at Black Horse’s head office in Cardiff. I got his contact details from FSA website and emailed him directly to deal with my PPI refund, I received the cheque within 3 weeks from my first point of contact.

Best of luck to you not saying that you need it, Keep me posted.

Your a wee star, Take care. :beer:

Gerry x x x :smileyhea

　
　

never-in-doubt

gerryscot wrote: »

Kind man I’m a wee lass from Bonnie Scotland. Thinking I’m a man seems to be a communal view today, I posted a thread relating to football. I’m sure the OP’s thought I was a football fanatic, big 6 ft man. [/QUOTE]

Ooops - sorry Gerry - just thought you were a man :think:! The thought of the 6ft man in high heels does make me laugh though so maybe best suited to you eh? :rotfl:

Always been a fantasy of mine to play footy with a team of women wearing nothing but a footy top but now i'm not so sure (after convincing myself you were a man!) :whistle::whistle::whistle:

gerryscot

never-in-doubt wrote: »

gerryscot wrote: »

Kind man I’m a wee lass from Bonnie Scotland. Thinking I’m a man seems to be a communal view today, I posted a thread relating to football. I’m sure the OP’s thought I was a football fanatic, big 6 ft man. [/QUOTE]

Ooops - sorry Gerry - just thought you were a man :think:! The thought of the 6ft man in high heels does make me laugh though so maybe best suited to you eh? :rotfl:

Always been a fantasy of mine to play footy with a team of women wearing nothing but a footy top but now i'm not so sure (after convincing myself you were a man!) :whistle::whistle::whistle:

No problem, I can assure you that I’ve been called a lot worse than that. Have you got your specks on tonight Never-in-Doubt, I’m not 6ft.
Quote from my post. (I’m sure the OP’s thought I was a football fanatic, big 6 ft man. Not a tiny wee Scottish lass, that needs my heals on to reach 5ft.)

Time for your bed, its been a long day for you, helping all the desperate OP’s .:rotfl: :rotfl: :rotfl:

Very best wishes from Gerry x x :smileyhea

never-in-doubt

Lol that flew right over your head! Yea I spotted what you quote but was being clever (obviously too clever) hehe

You're not blonde by any chance???? :rotfl:

gerryscot

never-in-doubt wrote: »

Lol that flew right over your head! Yea I spotted what you quote but was being clever (obviously too clever) hehe

You're not blonde by any chance???? :rotfl:

I'll be whatever colour you want me to be, how does tartan sound to you?

After all you've already got me pictured as a mad 6ft footie fantic, creating havic wherever i go.....:rotfl: :rotfl: :rotfl:

Gerry :smileyhea

never-in-doubt

gerryscot wrote: »

[/FONT]


I'll be whatever colour you want me to be, how does tartan sound to you?

After all you've already got me pictured as a mad 6ft footie fantic, creating havic wherever i go.....:rotfl: :rotfl: :rotfl:

Gerry :smileyhea

haha - I am Scottish too you know!

(p.s. yes, thats the image I have of you - with tartan hair and big wellies on! - don't ask!)