Black Horse PPI Claim help!!

gratook

Thanks Di

I'm sending my letter today, so fingers crossed!

I really appreciate all the help and advice you have given

Regards

Graham

di3004

gratook wrote: »

Thanks Di

I'm sending my letter today, so fingers crossed!

I really appreciate all the help and advice you have given

Regards

Graham

Your very welcome Graham, fingers crossed.:);)

Di
X

gratook

This is the letter that I sent off today by recorded delivery, lets see what happens next!


Dear Sir/Madam

Thank you for your letter dated 23 February 2010 regarding the Payment Protection Insurance in relation to the above account.

Whilst I still believe that the policy was mis-sold and is not suitable for my circumstances, I am prepared to accept your offer of cancellation of the policy and a refund of all sums paid towards it and the addition of statutory interest at 8%.

However, I would like all sums due to be refunded, credited directly to me by way of a cheque payment and not credited to the agreement as previously suggested in your letter.

To my knowledge, there are no arrears on my loan account as all payments have been made in full and on time.

Please confirm in writing if the above is acceptable and include a new acceptance form for me to sign, alternatively, if this letter can be used as acceptance then I would appreciate it if my refund could be issued as soon as possible.

gratook

I have received a reply today in response to my letter above, in which I quite clearly accept the offer but ask for the refund to be paid to me as opposed to paying it off of the agreement.

They basically open by saying, we are sorry our letter has not been accepted!!!

They go on to say that their position remains unchanged and if I am dissatisfied, I would have to go through the Ombudsman and this is their final response.

What do I do? I thought I might phone them tomorrow to confirm that they understood that I accepted their initial offer and it's the refund by cheque that they don't accept.

Or should I just go to the ombudsman and play the waiting game? They say in their letter that they have no evidence to support my claim that the policy was mis-sold, presumably this means they don't have evidence to prove otherwise!

Regards

Graham

di3004

gratook wrote: »

I have received a reply today in response to my letter above, in which I quite clearly accept the offer but ask for the refund to be paid to me as opposed to paying it off of the agreement.

They basically open by saying, we are sorry our letter has not been accepted!!!

They go on to say that their position remains unchanged and if I am dissatisfied, I would have to go through the Ombudsman and this is their final response.

What do I do? I thought I might phone them tomorrow to confirm that they understood that I accepted their initial offer and it's the refund by cheque that they don't accept.

Or should I just go to the ombudsman and play the waiting game? They say in their letter that they have no evidence to support my claim that the policy was mis-sold, presumably this means they don't have evidence to prove otherwise!

Regards

Graham

Hi Graham

I am so sorry to hear this, its not fair is it, you have been deprived of "your money" and yet they want this credited back to the account, where you will not benefit as such as you would if this was refunded directly to you.

And of course as there are no arrears, I think your right to request they refund this to you.
You could contact them and tell them your not happy with the way this have been dealt with, and being deprived and so on, also make sure they have not mis understood, if they stick by what they have said, then tell them "no thanks, its going to the FOS".
(But of course this is up to you).
As you may be aware the FOS are over-run with these complaints, but if you don't mind waiting then that is fine.

Do make sure with them on this tomorrow. Good luck and please let us know if you can, cheers.

Di

gratook

Thanks Di

Yes it is disappointing, but I will go the long route if necessary!

What really grieves me is that I still have 2years left to pay off this loan, including the 40 pounds per month for the PPI, makes me feel like withholding future payments until this is resolved! I Know I Know, not a good idea!!!

Will update tomorrow x

di3004

gratook wrote: »

Thanks Di

Yes it is disappointing, but I will go the long route if necessary!

What really grieves me is that I still have 2years left to pay off this loan, including the 40 pounds per month for the PPI, makes me feel like withholding future payments until this is resolved! I Know I Know, not a good idea!!!

Will update tomorrow x

Am with you all the way Graham, will keep a look out on your update tomorrow then, fingers crossed.;)

grb1975

Hi all,

Little advice please. Usual thing with Black Horse. Took out a loan on March 2008 for £5500 at 29.8% apr. £168 per month over 5 years. I know its extortionate but they said that after 6 months i could renegotiate a better deal. Just give it 6 months to repair my credit rating a little and they can see that payments are being made. Which i did, then after six months i rang them as agreed, to which they replied that they would not have said this. They said they could look at a new agreement though. I did not want any more money, just to get a better rate and reduce the debt sooner rather than later. ALL payments have been met and on time. They said that a new agreement would not be possible. OK..... even Robin Hood wore a mask.............

In addition, i was pressurized into taking out PPI as it would help my loan application i pay £98 per month for this at 29.8% APR. In total i repay £267.00

Any advice please on what my next move should be, but i think at the end of the loan and PPI i will have repaid nearly £16,000. I have paid two years off already and have 3 left to go.

Please help...... what should i do?

Regards
Glenn

di3004

grb1975 wrote: »

Hi all,

Little advice please. Usual thing with Black Horse. Took out a loan on March 2008 for £5500 at 29.8% apr. £168 per month over 5 years. I know its extortionate but they said that after 6 months i could renegotiate a better deal. Just give it 6 months to repair my credit rating a little and they can see that payments are being made. Which i did, then after six months i rang them as agreed, to which they replied that they would not have said this. They said they could look at a new agreement though. I did not want any more money, just to get a better rate and reduce the debt sooner rather than later. ALL payments have been met and on time. They said that a new agreement would not be possible. OK..... even Robin Hood wore a mask.............

In addition, i was pressurized into taking out PPI as it would help my loan application i pay £98 per month for this at 29.8% APR. In total i repay £267.00

Any advice please on what my next move should be, but i think at the end of the loan and PPI i will have repaid nearly £16,000. I have paid two years off already and have 3 left to go.

Please help...... what should i do?

Regards
Glenn

Hi Glenn

Sorry to hear this and being put in that position, how annoying that is for you.

Well I would certainly give it a go on reclaiming with your reasons, they did not sell this in your best interest and you do have a good case.

So write to them with your reasons and they have 8 weeks in full to respond, the link below is the guidelines of reclaiming with templates, also check out all other reasons on the checklist and if any of them also occur to you then write them as well, it was a pressurised sale going by yours.
They have deprived you of your money.

Do not worry about writing down the amounts though, they should provide these to you if successful or you can request they post them out to you.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hope this helps, ask for further help on this if required and post within the post office for proof of posting to the bank.
Please keep us posted, good luck with this and keep at them.;)

grb1975

di3004 wrote: »

Hi Glenn

Sorry to hear this and being put in that position, how annoying that is for you.

Well I would certainly give it a go on reclaiming with your reasons, they did not sell this in your best interest and you do have a good case.

So write to them with your reasons and they have 8 weeks in full to respond, the link below is the guidelines of reclaiming with templates, also check out all other reasons on the checklist and if any of them also occur to you then write them as well, it was a pressurised sale going by yours.
They have deprived you of your money.

Do not worry about writing down the amounts though, they should provide these to you if successful or you can request they post them out to you.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Hope this helps, ask for further help on this if required and post within the post office for proof of posting to the bank.
Please keep us posted, good luck with this and keep at them.;)

Hi Di,

Thanks for your reply. I sent a letter off yeaterday via recorded delivery, requesting my PPI to be repaid which amounts to over £2500 to date including interest.

Just a thought, if they do repay me. I would still like to pay the full £267 per month to pay the loan off quickly. Any idea how long it would take to pay off the loan if i was to pay an extra £98 per month. As of today, i have 36 payments of £267 left (£168 loan / £98 PPI).

Thanks & regards
Glenn