Blakhorse mis-sold ppi as self-employed

[hellhasnofury]

Hello Loukim.

 

I am smiling:D for you, I am so pleased for you.

 

Well done:D

[lizzy40]

Hi Lou,

 

Just been catching up on your thread what fab news. The FOS have worked really quickly for you just shows you not to take no as the final answer. Its also good news that the FOS have told them to add 8% interest on top thats what i'm still waiting for so it looks like that these companys should be paying this extra interest to cover the loss which you have had over the months that they had your money.

 

How do they get away with this, why didn't they agree at the very beginning you where mis sold putting you through all this stress doesn't seem right..

 

Anyway happy new year lets hope we all have lots of good news...

 

Lizzy

[loukim]

Well still no news from blackhorse but then again for every day they make me wait is just more interest they have got to pay me:p

[debt_mountain]

did the fos give a time limit for any payout? He it has passed phone the fos to escalate it. Or raise court papers on them.

[loukim]

did the fos give a time limit for any payout? He it has passed phone the fos to escalate it. Or raise court papers on them.

 

yes they have got till the 30th january....

[tonycee]

yes they have got till the 30th january....

 

Personally, i would be preparing a polite reminder, to be sent off by the end of the week.

[loukim]

Personally, i would be preparing a polite reminder, to be sent off by the end of the week.

FOS said if i did not hear anything from blackhorse within 14 days then to give the FOS a call so they will call blackhorse to see whats happerning, but did stress they should settle with 28 days.....

will ring Fos tomorrow :-|

[loukim]

Phoned FOS was told they have 28days so to call Blackhorse to give them a nudge.

I requsted a breakdown of how my first loan was was broke down when paid in full to restart a new loan as i had never received anything to explain what funds and fees cost ect, and after i had spoken to the FOS they said i should have received a breakdown of this.

 

Well it turns out my PPIcost £4,411.00 not including interest and they refunded me £2411.00 of this but it was taken of my new loan back in 2005:-x and i not knowing anything about it or was it every discussed with me was not given any choose:-x surley this should have been brought to my attention and upto me how this refund was payed either to me or off my loan.

Has anybody got any advice on this can i demund they also pay this back.

[lizzy40]

Hi Lou,

 

Just need to go over some details with you so as everyone understands where your at.

 

We know you have won your mis sold claim but to check the amount you should get back is proving more complex.

 

Are you claiming being mis sold from your first loan as well as second loan.

 

Was the first loan paid up when you took the second loan?

 

If you paid your first loan up early and then the surplus ppi should have been refunded to you not taken off your second loan.

 

Perhaps someone with more knowledge in this field can advise.

 

When I have taken a second loan out with same company and money is still outstanding on first loan the second loan pays back the first loan. As you had ppi on the first loan the amount that they paid you back needs to be checked. I didn't have that problem with mine as I didn't have ppi on my first loan.

 

Although I got my refund for being mis sold I'm still trying to get the interest which they failed to refund its very time comsumming!

 

By the way I also didn't get a break down on the final refund figure until they sent the cheque. They are so crafty!

[loukim]

Hi Lizzy

Yes FOS have told blackhorse they have mis-sold me of 2 loans the first loan was paid back in full with the second loan (first loan for £10,000 only run for 10months and the second loan for £5,000) so really had a new loan set up for £15,000.00 with a new PPI so 1st loan was cleared with new loan i hope that makes sence.

But not once was we ever given any break down or even told the PPi money would be refunded or given any choose about the matter......

To be honest it never even crossed my mind as what would happen with the PPi money as i had not got a clue that the PPI was added to the loan never explanned to me assumed it was abit like a car insurance you only paid for it while it was in use not all paid upfront.

 

Have spoke to FOS and they have said i should have received a full break down when loan account was closed and i would have been made aware.

[lizzy40]

hi lou,

 

So after your second loan taken out and £2411.00 ppi refunded leaves £2000.00 still outstanding to you on first loan. 8% interest which the fos said you can claim should be worked out from the date first loan taken out to the date it was paid up. Not sure if thats 100% correct may be someone can add to that.

 

On the second loan the total ppi plus again the 8% interest from date loan started to the date they decide to refund you.

 

However something don't seem right as £2411.00 that they refunded towards your second loan your paying interest again on, how crafty!

 

Hope someone with the knowledge of figures can advise you lou they shouldn't be allowed to get away with this.

[loukim]

Well spoke to blackhorse yesterday and asked why i was never given a full breakdown as i should of when the first loan account was closed, and the refund from the PPi on the loan was never discussed with me or was i ever told there was a refund which then took away my rights as to how i wanted this refund......he then replied with would you of rather had the money as it makes sence to pay it of your new loan making your monthly payments lower i said i have never missed a payment with this loan or anyother loan i have had with you, he replied well why would you want this refund i told him i did'nt need to answer that question but i want a reply in writting to why i was never given a break down or even told a refund was to come back from the PPI and how did i want this refund made to myself or off my new loan

I had requested a full break down 3 times since October for ths loan, he then informed me as i had signed an agreement with the FOS this matter could not be taken up as i have agreed to this matter to be closed. WRONG as i have proof that i requested this 3 times and that the information was withheld from me until i had signed the form from the FOS and so i was not aware of this at that time and that they still have not given me any refund or have we agreed to the sum that is due to me.

The FOS have said they can't get involved with this ??? but still agree they have got to pay me back everything else that has been requested by the 31st of this month.

Blackhorse said that due to me signing a form with the FOS i can't take any court action for this other matter either ?

To me this is a new issue to take up with them as they have taken away my rights and that refund was my money and for me to decide how i wanted it.

I feel such a fool you put your trust in these high street banks for them to treat you like this where is their code of conduct ??

Anybody got a clue about this.

[loukim]

Well blackhorse should of paid up yesterday as given 28 days by the FOS, well got phone call yesterday to say that only 1 of my PPI claims had been sorted and a cheque would be sent to me for the refund, but as for the other PPI refund this was taken longer as the loan was still running

Blackhorse said they had spoken to the FOS who was happy to give them a further 14 days ( bloody cheeck)

I asked why was i receiving a cheque anyway as i had requested the refund to be paid in to my bank account "o we don't do that :o

I asked how much my rebate cheque was for and he said i don't know......

Blackhorse have been rude and unhelpful from the word go anybody would think they man dealing with my case was paying me back from his own pocket!!!!!

 

So what should i do fax them a letter to say that if i do not receive a cheque for settlement for the second PPI within 10 working days i will be sendind them a N1 with out further notice ??????

[lizzy40]

Personally I think you should give them the extra 14 days the FOS have allowed them. My ppi claim took just over a month to get refunded but I only had the one policy to sort out.

 

Blackhorse haven't been helpful all the way they probably still think they are right and don't want to pay you. You have the FOS on your side. I would give them the benifit of doubt and see if they pay up in 14 days.

 

Its still not straight forward because they haven't told you how much the refund is going to be, exactly what happened to me, my refund was without interest so I'm still presueing that side off it; crafty of them really. So just be aware in case the same happpens to you. I kept asking for a refund figure but nothing was forth coming.

 

Anyway thats what I think it might not be the best answer but its what I would do. Someone else my give a different side to it. Good luck!

[loukim]

Blackhorse phoned me on 30/01/08 to say a cheque has been posted to me for one of my PPI'S refunds, Well still no cheque from Blackhorse

 

Phoned FOS yesterday and ask what was going on it turn's out that the FOS have given Blackhorse not 14days extra on the 2nd PPI but 28 day's:mad: but i should still receive a cheque for the refund on my first PPi as they had only agreed an extra 28 day's on 2nd PPI.

What's the point of setting dates for these banks to deal with these claims when they just set there own time scale, makes me so angry w*****s

[lizzy40]

Hi Lou hopefully the first ppi refund will come in todays post lets hope it does and your happy with the total paid back.

 

What else can you do about the second ppi - one positive point is the longer they take the more interest should accumulate so its in there interest to pay it back as quick as possible. The FOS have told them they have to include 8% interest haven't they?

 

What I did with mine because it again was taking so long for them to refund my money and like yours it was also an active loan which I was still paying. It would work out that with the refund this would clear my loan so therefore I wouldn't owe them any more monthly payments. So I cancelled my direct debit that made them pull there socks up. On saying this I wouldn't recommemed you doing this as I don't no your circumstances and you need to be sure the refund will clear your outstanding loan.

[loukim]

well as todate still not received a penny spoke to blackhorse yesterday was given a figure over the phone for refund on first PPI, i asked why this did not include the payments i had mad for the ppi monthly coversation got a bit heated and the man from blackhorse was just coming out with all different figures, i have requested a full breakdown AGAIN phoned FOS (as much use as a fart in the wind) thay cannot get involved with the settlement figure and said the best thing to do would be for an accountant to have a look at the figures (more money) but they did agree that i should be refunded every payment i have made forthis ppi

[babygirl10873]

Hi Lizzy

 

have e-mailed you catch up later:-D

 

i agree with you 100% they are just trying their luck.....

trust me its no error because if it is im looking at the same error now i went into the office and spoke at great length about being self employed and in the top box it says life accident sickness invol employment the name and level of cover none but in the second scedule box under payment protection there is a high figure and below intrest so if there is no level of cover what the hell are they charging for. i agree they have tried to make you pay for something you could not use and not even sure if you look closely at the rest of the cover they may find a loophole not to pay you there as well. they know what they have done and trying to cover it up. thank god for a site like this because only by you pointing it out i have noticed the same error system must be still down. i had this policy with my partner. on back in very small print it says read clauses before signing. I have noticed on the other three policies he has had after this they drop the employment thing and just mention critical accident and life. but i rearly want to get my hands on a copy of what it includes some companies dont pay out for 60 days or 6 months i want to know hes still not being ripped off and what you are charged for employment and then all 3 together because should be able to esablish if they did set up i bet they charged to the full amount and figures included that part of protection. I am just starting my self this first loan we paid of think we had it for about 2 years and the end payment was almost 1000 more than we borrowed after making 2 years of payments. early penilites or something sent of for a SAR want to be sure what i paid for now. i did read if you pay it off early they charge you the full intrest for the full period of the loan you cant say thats right. i dont know what an lab is either but this be watching this thred as need to know also what to do next. i thought because banks have incurred fines they would be a bit more repectfull not wanted the same treatment.