Refund from Black Horse due to contract

Luke_Alderson

A family member has had a letter this morning saying that basically blackhorse finance are giving them a refund of interest due to them not notifying her of the right to voluntarily terminate her contract before completion. It is on a car she had which is now fully paid off.

It says as a result they are not entitled to this interest and will be sending a cheque. Now it all looks legit and a quick search online shows other cases.

Thing is is it possible they owe her more and they are just hoping she accepts it without question, and why are they owning up?

Just a bit sceptical of banks in our family thats all.

Luke_Alderson

yes she expects a full repayment of the whole loan and compensation! Obviously not.

Really? All i was asking was do they provide a smaller amount and hope you accept it without questioning when really they owe alot more.

It was their mistake not hers so not sure why your making comments like "do you expect them to pay your family member for borrowing their money".

rizla_king

No they probably are offering what they think should be paid. Doesnt mean there cant be more owed as there could be other error not brought to light, but with the FOS breathing down their neck on this I doubt they will try a deliberate fast one.

Luke_Alderson

rizla_king wrote: »

No they probably are offering what they think should be paid. Doesnt mean there cant be more owed as there could be other error not brought to light, but with the FOS breathing down their neck on this I doubt they will try a deliberate fast one.

Okay thanks for the advice.

stator

Yes it's very common these past few months there are lots of threads on this board, many people have had the same letters.

You can try and work out how much interest was due on the loan and how much they should be refunding, but their calculations should be correct.

Leicester123

Sorry if this is a little bit "off thread" but does anybody know if their HP agreements were similarly affected?

I had one with them (arranged through a Toyota dealership) from 2007 to 2011 but have moved twice since then. Not sure how much effort they would make to trace people if they had been impacted but had since moved house?

Thanks

jonesMUFCforever

Leicester123 wrote: »

Sorry if this is a little bit "off thread" but does anybody know if their HP agreements were similarly affected?

I had one with them (arranged through a Toyota dealership) from 2007 to 2011 but have moved twice since then. Not sure how much effort they would make to trace people if they had been impacted but had since moved house?

Thanks

Why not contact the lender yourself?
Worst thing is that the paperwork was in perfect order and you won't get anything.

Leicester123

i did a few weeks back but didn't get a totally clear response.

Unfortunately I no longer have any documentation for the agreement and therefore don't know the agreement number. My bank don't have it either as I made all payments by direct debit and they only retain direct debit details for 12 months after an agreement ends.

I still tried BH, the 1st person I spoke to I asked to get hold of my agreement number for me but they said they couldn't locate me in the system (having initially said that they would be able to find it). Having been unsuccessful they asked why I wanted it, when I told them they said i could try a different dept.

Speaking to that department they said I wasn't due anything. I asked if they had managed to find my details on the system and they said no, but because they couldn't match my details to a list of people due a payout I wouldnt be due a refund.....however if my details can't be found on their main system then i am guessing it is possible that they may have incorrect details for me on their system.

I could pursue further but I guessed that somebody would know if HP agreements were affected before I try other avenues for obtaining the agreement number.

Anyway, don't worry about replying if you don't know the answer to a question, otherwise you will end up being one of these people who end up making thousands of pointless posts......oh, hang on a minute!

jonesMUFCforever

''Anyway, don't worry about replying if you don't know the answer to a question, otherwise you will end up being one of these people who end up making thousands of pointless posts......oh, hang on a minute!''

You are a really nice person - good luck with your claim.
I could tell you now a 100% way of getting your BH loan agreement number but won't bother you.

bigbadwolf500

Is there a template letter anywhere on here that one can use to contact the bank to query errors in loan documentation? Thanks

[Deleted User]

You shouldn't need a template. Just write to them, saying what you think the error is.