Black Horse Success!

dippynina

I wondered if anyone could advise me on this - I will try and cut a long story short!

Last year I started pursuing BH for PPI which I believe had been mis-sold to me. My claim was unsuccessful so I contacted FOS. They were unable to help as BH were not covered by them at point of sale. FOS suggested contacting underwriters, which proved unsuccessful, and underwriters suggested I contact Black Horse again. To be honest, I didn't see the point but wrote a letter again saying FOS and underwriters were unable to help and could they look into this again. (This was about 4 weeks ago).

(I should also tell you that this loan was passed to a debt collectors years ago but then paid in full shortly afterwards.)

Imagine my surprise when I received a letter this morning from BH stating they would give me a full refund!!!!!!!! BUT in the part it says 'Redress Due to You' - It states

'We will deduct the following from any refund that is due - The outstanding balance on the first schedule (loan only) part of the agreement at the point that we closed the agreement.'

(I will be entitled to 8% interest though.)

I called them to query this and they said that the agreement is closed when it was passed to Debt Collectors, and this balance will be deducted from our refund. I pointed out that it was paid in full at Debt collectors. The very helpful man said he would look into this, he came back and said they would contact the Debt collectors and confirm this and it would be taken into consideration in our final amount. My concern is that this is not what it says on my acceptance form and if I sign it and send it back I am basically agreeing to what they have said above.

Don't get me wrong I am absolutely delighted to get this letter and anything I get back from them will be a bonus but I just wondered if anyone had been in a similar situation.

Thanks for taking the time to read this.

di3004

dippynina wrote: »

I wondered if anyone could advise me on this - I will try and cut a long story short!

Last year I started pursuing BH for PPI which I believe had been mis-sold to me. My claim was unsuccessful so I contacted FOS. They were unable to help as BH were not covered by them at point of sale. FOS suggested contacting underwriters, which proved unsuccessful, and underwriters suggested I contact Black Horse again. To be honest, I didn't see the point but wrote a letter again saying FOS and underwriters were unable to help and could they look into this again. (This was about 4 weeks ago).

(I should also tell you that this loan was passed to a debt collectors years ago but then paid in full shortly afterwards.)

Imagine my surprise when I received a letter this morning from BH stating they would give me a full refund!!!!!!!! BUT in the part it says 'Redress Due to You' - It states

'We will deduct the following from any refund that is due - The outstanding balance on the first schedule (loan only) part of the agreement at the point that we closed the agreement.'

(I will be entitled to 8% interest though.)

I called them to query this and they said that the agreement is closed when it was passed to Debt Collectors, and this balance will be deducted from our refund. I pointed out that it was paid in full at Debt collectors. The very helpful man said he would look into this, he came back and said they would contact the Debt collectors and confirm this and it would be taken into consideration in our final amount. My concern is that this is not what it says on my acceptance form and if I sign it and send it back I am basically agreeing to what they have said above.

Don't get me wrong I am absolutely delighted to get this letter and anything I get back from them will be a bonus but I just wondered if anyone had been in a similar situation.

Thanks for taking the time to read this.

Wow what a result, Congratulations!:beer:

I would contact them in writing and explain your situation here, ask them if they can send an updated acceptance form to what they have offered.

Good luck.;)

amersall

dippynina wrote: »

I wondered if anyone could advise me on this - I will try and cut a long story short!

Last year I started pursuing BH for PPI which I believe had been mis-sold to me. My claim was unsuccessful so I contacted FOS. They were unable to help as BH were not covered by them at point of sale. FOS suggested contacting underwriters, which proved unsuccessful, and underwriters suggested I contact Black Horse again. To be honest, I didn't see the point but wrote a letter again saying FOS and underwriters were unable to help and could they look into this again. (This was about 4 weeks ago).

(I should also tell you that this loan was passed to a debt collectors years ago but then paid in full shortly afterwards.)

Imagine my surprise when I received a letter this morning from BH stating they would give me a full refund!!!!!!!! BUT in the part it says 'Redress Due to You' - It states

'We will deduct the following from any refund that is due - The outstanding balance on the first schedule (loan only) part of the agreement at the point that we closed the agreement.'

(I will be entitled to 8% interest though.)

I called them to query this and they said that the agreement is closed when it was passed to Debt Collectors, and this balance will be deducted from our refund. I pointed out that it was paid in full at Debt collectors. The very helpful man said he would look into this, he came back and said they would contact the Debt collectors and confirm this and it would be taken into consideration in our final amount. My concern is that this is not what it says on my acceptance form and if I sign it and send it back I am basically agreeing to what they have said above.

Don't get me wrong I am absolutely delighted to get this letter and anything I get back from them will be a bonus but I just wondered if anyone had been in a similar situation.

Thanks for taking the time to read this.

:money::money: WELL DONE :beer::beer: Do as di says and you wont go far wrong.x