Bh pro rata offer help needed please!!

PINKLINT

Have just received an offer letter for two of my BH agreements for they have linked these two loans together for some reason. They state in their letter that the only issue that arose from the sale was that I incurred aditional costs when settling the accounts early!!

They go on to set out their offer which basicially is confusing but part of it states

Loan 1

Paid via repayments £234.00
Paid in Final Payment £385.28
Less payments due if Pro Rata Basis -£296.40 What is this for!!!
Sub total - potential refund of PPI for this loan £322.88

Same for Loan 2

Paid via Repayments £245.50
Paid in final payment £458.51
Less payment due if pro rata basis - £327.12 again why!!

It goes on to state interest
Excess balance and interest (paid via instalments) £51.71
Excess B & I (paid in final payment £302.58
plus Statutory Interest £451.52

total refund £1182.69

Now I understand that when i settled these loans early I would not have paid the full amount of PPI and that I am getting back some of what I overpaid on settling what I don't understand is the amount they are deducting from this over payment and the repayments. Surely I should be getting a full refund of the monthly payments, the overpayment at settlement and the the interest on these amounts:mad:

I have phoned BH the lady on the phone at first tried to fob me off saying it was only pro rata because i settled early so didn't pay all PPI which i understand but and told her this but then asked her why they were make those deductions anyway she put me on hold for ages and came back and said could she have my contact number and one of the complaints team would ring me back to discuss with me.

So just wondering before making a complete fool of myself on the phone am i right in what i am saying that they shouldn't be deducting anything from payments made and overpayment at settlement.

Sorry its long but am mad and ranting!!:o

di3004

Hi

Well done on your offer.

Sorry I am not the one for workings out on calculations and I do hope someone will be along soon to have a look for you.

Maybe you could copy and paste this to the above PPI Reclaim Discussion thread and/or to the thread - How the FOS calculates refunds, where hopefully this will not be missed and dealt with sooner for you with a bit of luck.;)

src007

I'm not 100% sure but it looks like the offers are too low and they shouldn't be making the deductions.

Is that the exact wording of all the calculations?

If they call you, you just need to ask them if the offer is in line with what the Financial Ombudsman Service (FOS) recommend.

If they're not in line with FOS guidelines, I would take the complaints onto the FOS to get a full refund! If you settle the loans early there is a very good chance that the FOS will find in your favour. They will also look negatively on the fact that low offers have been made.

Although, be careful because if the policies were sold in 2003 or 2004 the FOS might not be able to take on the complaints.

PINKLINT

Thank you both for your replies. I will move thread as well.

I thought the offers were a bit low as well not that I am greedy but as far as i can see I shouldn't have had PPI put on so therefore should be entitled to everything back that i paid plus interest. All in all I have four claims in with them they have rejected one made pro rate offers on these two and apparently I am getting a letter offering a full refund of the fourth one. How can there be different outcomes when the circumstances were exactly same for all four!!!

They must be covered by the FOS for these two because they have enclosed the FOS leaflet and told me to go to them if I don't want to accept offer. If I don't get any joy when they phone, which will be tomorrow now cos "Ryan" had gone home! then I will most certainly take it to FOS.

Appreciate your help.

di3004

I have bumped up the other thread for you as well, good luck.;)

PINKLINT

Thanks Di I've got the bit between my teeth on this one and I'm not giving up I'll post tomorrow with the outcome of the phone call x

PPAC

PINKLIT i would strongly advise you to decline this offer and send it to FOS the tactics Blackhorse are using is nothing short of ridiculous. They aren't offering the full refund of any premiums paid and customers are being duped into signing these offers as it states on the letter that there complaint has been 'UPHELD'.

The major point being here is the complaint has not been upheld as you have wrote them a letter advising you felt you were mis-sold the PPI and they have not put you back in a position had you not taken the PPI.

I can't for the life of me see how Blackhorse can possibly get away with this without at least an FSA fine as they still after all the hassle they have caused there customers 'Aren't treating there customers fairly'

PINKLINT

I totally agree!!! I have just had one phone call with one of their advisors who i have to say was very nice and I pointed out to him that I should never have had the PPI put on in the first place I again told him what was on my claim form that in my job I get six months full pay than six months half pay, a death in service benefit and I have £100,000 of life insurane in place why the hell would I need PPI for the loan I also said that if I took it to FOS they would probably uphold my claim based on this alone. He said he could see my point and now that he understand what it was I wanted to know he would go back to the calculations people and call me back in about an hour. So we will see what they say!! But I will not let this go unless I get back every penny they took from me when I was a struggling single parent and they knew this and took advantage well i'm not as young and silly as i was back then!!

When I told my sister about the offer she said "Oh I would just take the thousand pound" and unfortunately i think this is what BH are banking on that people will just take it and be grateful which is outrageous and shows that they certainly haven't changed there ways at all!!:mad:

PPAC

There's worse still PINKLIT i have seen offers that offer full refund plus 8% on one loan but two pro rata refunds on other loans when we called Blackhorse to ask if we could accept full refund but decline two pro rata offers we were adVised would need to take all 3 to FOS even though they have admitted mis-selling on one of them yet again another trick to get customers to sign for thousand of pounds less than what they are due it's terrible customer service from Blackhorse and yet another Rip Off Martin Lewis should look into the practices of Blackhorse and bring it to public attention.

PINKLINT

I am in similar position I have four claims in with them one they have rejected, one they are offering full refund on and these two that they have offered pro rata on. I am baffled at their inconsistency all loans were taken out in same circumstances. Although they haven't said that I have to take all three to FOS but for some reason they are dealing with two of them on their own but have linked the pro rata offer agreements together!!

biondani

I wonder where we stand when we complained about all 3 loans seperately, one was upheld and the other two were pro-rata refunds. As the complaints were seperate then surely we should be able take them to the FOS individually. Even though the payout from BH was around a month ago I still haven't had a breakdown of the calculations so still don't know how much I owe the taxman at the end of the year.

Ian