Black Horse PPI

bear1975

I am trying to work out the figures here to see if i should take up this offer, these are the ppi figures i am looking at

PPI £4212.54
Charge £2143.26
Total £6355.70

-£3209.52 rebate
= £3146.18 left from origanal ppi figure

Does anyone know what happens with the left over figure as thay say in the letter that my loan payments will be re-adjusted once the ppi is cancelled so I take it the outstanding amount of ppi is written off or whatever they do with it,

I think what is confusing me is that the loan is only 18 months or so old so I wont have paid £3209 in ppi yet?
will my loan repayments then be on the loan only and the £3209 will be taken off what I am still due on the loan?

Maybey I am over complicating this ????

di3004

bear1975 wrote: »

I am trying to work out the figures here to see if i should take up this offer, these are the ppi figures i am looking at

PPI £4212.54
Charge £2143.26
Total £6355.70

-£3209.52 rebate
= £3146.18 left from origanal ppi figure

Does anyone know what happens with the left over figure as thay say in the letter that my loan payments will be re-adjusted once the ppi is cancelled so I take it the outstanding amount of ppi is written off or whatever they do with it,

I think what is confusing me is that the loan is only 18 months or so old so I wont have paid £3209 in ppi yet?
will my loan repayments then be on the loan only and the £3209 will be taken off what I am still due on the loan?

Maybey I am over complicating this ????

Hello there

I am not any good at working with calculations, but I am sure someone will be along soon to have a look at these for you, good luck.;)

mrsevans

Hi there all, i'm new to this forum so please be gentle.

I took out a loan in 2004 with Black Horse and was mis-sold PPi, in 2006 I lost my job and fell behind with the repayments on the loan which was then sold on to a Debt collection agency which I have been paying back at a rate of £15 a month ever since.

I have written the first 2 letters to black horse trying to claim back the PPi but have received nothing but a confirmation of my complaint to them. No offer of repayment. I was about to refer it to the FOS but after reading up on the FOS website I now realise I could maybe get the rest of the debt wiped off, because if they hadn't mis-sold the PPI I wouldn't have fallen behind on the loan and incurred charges and had it passed on to a collection agency. I think that the FOS called it restructuring

The case study also said that the claimant had also received compensation!! Because of the stress and worry caused by the loan company.

Just wondering really if anyone else has heard anything about this and if they had any experience of it. If so how would I go forward with the claim as I have already written the 1st two letters trying to reclaim just the PPI.

Thanks in advance for any info anyone might have.

di3004

mrsevans wrote: »

Hi there all, i'm new to this forum so please be gentle.

I took out a loan in 2004 with Black Horse and was mis-sold PPi, in 2006 I lost my job and fell behind with the repayments on the loan which was then sold on to a Debt collection agency which I have been paying back at a rate of £15 a month ever since.

I have written the first 2 letters to black horse trying to claim back the PPi but have received nothing but a confirmation of my complaint to them. No offer of repayment. I was about to refer it to the FOS but after reading up on the FOS website I now realise I could maybe get the rest of the debt wiped off, because if they hadn't mis-sold the PPI I wouldn't have fallen behind on the loan and incurred charges and had it passed on to a collection agency. I think that the FOS called it restructuring

The case study also said that the claimant had also received compensation!! Because of the stress and worry caused by the loan company.

Just wondering really if anyone else has heard anything about this and if they had any experience of it. If so how would I go forward with the claim as I have already written the 1st two letters trying to reclaim just the PPI.

Thanks in advance for any info anyone might have.

Hi and welcome

Wishing you luck with your reclaiming.

In regards of wiping out debt I am not certain on this to be honest, but you should find some posts in the actual loans thread here:
http://forums.moneysavingexpert.com/forumdisplay.html?f=12

However in regards of just reclaiming on the PPI, your in the correct place here and ask for help anytime, but with the issue of wiping this out, sorry I have no idea on this, I'm sure you will get some answers on this on the above thread, good luck with this.;)