Blackhorse....LONG STORY

[sugg1]

Blackhorse are taking us to court on the 21st of oct for repossession for a loan that we took at for £19,000.

 

Let me go back to the start and explain everything and see what advice can be given.

Both my hubby and myself had personnal loans with blackhorse and where paying out over £500 between us for the two loans.

 

Well my hubby was diagnosed with a heart condition and we phoned blackhorse to claim on the PPI and they said we could not claim for the first 2 years ,anyway a few weeks later they contacted us again and said they could take both are loans and combine them together and give us a a couple of thousand ,which at the time we thought we could use to pay of some other credit.

so we went in and seen them and they did all the paper work ect and they set up the PPI saying we had to have it as part of the loan even after my hubby said that he could be losing his job in the armed forces later that year and was told thats ok the PPI will pay the loan for you.

so they combined them together ect and made it a secured loan on the house.

About 10-11 months later my hubby was forced to leave the armed forces due to his heart condition ,anyway we phoned the insurance company to put a claim in and they said sorry you can`t clain for losing your job due to have a exsiting health problem when signing for the loan (which we both understand).

The insurance company said to my hubby that they had noticed that we had ,had 2 personnal loan and asked why we did not claim on them at the time as they would have been paid out as his heart condition arose after taking out the loans ,my hubby explain that blackhorse had informed him that he could not claim on them for the first 2 years and was told by the insurance company that was RUBBISH!!,and that if we had put a claim in at the time it would have paid out on the 2 personnal loans.

Because of this we asked blackhorse to cancel the PPI and they said we could not as it was after the first 30 days again we spoke to the insurance company who said yes of course you can cancel any time as the policy was of not use because of my hubbys condition.

Blackhorse were not happy about this,anyway we thought great least it will now reduce payments by £174 amonth ( the amount we were paying for PPI) ,NO we where wrong it only reduced it by £110 ,i phoned blackhorse regarding this and was informed it had only reduced by that much as they had to rework out our loan as the PPI had been cancelled.

I don`t know if this is the normal way ,so advice on that would be good.

 

 

The next thing was the other day we where looking at the statement for the whole 2 years and we noticed that on 16 occasions they claim they had requested a payment DD payment recieved and the line under says DDR lack of funds and we have proof that on those 16 occasions there was more then enough money in the bank account to pay them.

so on 16 diffrent times they had said we had paid then said we had`nt and the interest go`s up on the account.

We also noticed that it had never gone threw the bank as we never had returned DD at the time and like i say we had money to cover payments ,as my hubby had been paid off from the armed forces.

 

so now the loans stands at £31,541.09 and to pay it off in full by the 10th september would have been £27,204.42

 

so do we have a case against them for what has happened.

Any advice would be great as we are so worried at the moment with this and capstone

 

SORRY IT WAS SO LONG.

[OLIVE.FAMILY]

Hi there sugg1 I think you do have a case or two there. Firstly you can go for misselling of PPI on hubbys first loan as he did not realise that he could claim and when you found out you could it was too late. I have a similar case at the mo with the FOS.

 

Secondly I would go for the charges. are these all the charges that are owed or do you not know.

 

Also you say that black horse are going for repo, does this mean it you have amortgage as well with them or is this a charging order?

 

Olives xx

[sugg1]

sorry me again

 

One more thing that my hubby has pointed out is that on the paperwork they have send for the repossession.

 

There is a page saying what the following pages are.

 

Exhibit 1 Mortgage date is the 31st January 2006 ,but that has been crossed out and in pencil above it says 20th January 2005 with someones intials next to it

 

Exhibit 2 credit agreement 31st january 2006

 

Exhibit 1 Mortgage date is the 31st January 2006 ,but that has been crossed out and in pencil above it says 20th January 2005 with someones intials next to it

 

Exhibit 1 is signed by our friends as witnesses for a top up on one of our personnal loans not the secured loan and it clearly shows the date as 20/01/2005.

But we never took out the secured loan until 2006 and it clearly shows on the credit agrement as 31/01/2006.

 

Exhibit 2 states on the page stating the following pages that the credit agrement is for 2006.

 

Seems they have messed up some where ,so does this help us

[sugg1]

Also you say that black horse are going for repo, does this mean it you have amortgage as well with them or is this a charging order?

 

we had the 2 personnal loans and they combined them together and made it a SECURED LOAN and thats why they are going for repo on the house

 

Firstly you can go for misselling of PPI on hubbys first loan

Would i have to mention this to the judge on the 21st oct

 

Secondly I would go for the charges. are these all the charges that are owed or do you not know.

 

I am totally unsure of what charges there is i do have a complete statment for the account going back to when the secured loan started.

so maybe you can help me work out what charges i can claim..

 

when we were making payments of £456 it looks like they were taking £326 in interest

[sugg1]

a example is this...

 

01/03/2006

account balance is 31846.73

payment made 8/03/2006 £456.03

31/03/2006 £326.11 was charged to the account

bring the account balance to £31716.81

 

= £129.92 was coming off the balance every month froma payment of £456.03

 

The £456.03 is made up from amount of credit a)£19,500

Charge for credit b)£14,332.80 a)+b)=£281.94 PM

Insurance PPI c)£20,890.80 c) £174.09 PM

[sugg1]

Is anyone able to advice ?

 

I need to take the paper work to court tomorrow for our defence regarding the repo ,and would really like some help asap.

 

i am going back out to work again for the rest of the day in the next hr and won`t be home till 10ish

[OLIVE.FAMILY]

Hi there sugg1,

 

For the mis selling PPI you can say to the judge that you think this may be the case and you can also expalin what happened in the begginig to get to this point, as to whether or not the judge will deem this a relevant to the repo it is hard to say.

 

Yes charges I can help you calculate. Look through the statement and you will most probably find a monthly arrears fee added as well as solicitors costs and agents costs. I am just going by what my lender charges me.

 

The interest is high on a secured loan I am afraid it is just like a mortagae that is why it takes so very long to pay off.

 

Unfortunately any case you try to fight will take some time. My advise to you is try to put this to one side and just concentrate on keeping ypour house. Yes explain what has happened but hand in the paeperwork and see what time you have between no and court.

 

I hope this helps.

 

olives xx

[Ell-enn]

PPI claims are notoriously difficult to win - as I said to you earlier, you need to get the repossession claim settled first so that your home is safe.

 

Kind Regards

 

Ell-enn

[sugg1]

Hi Ell-enn

 

took in the paper work today for the court and the statement you did for us ,thank you very much.

we will sort out PPI /charges after we get to keep the house.

 

I just want to bring up a post i made that i don`t think was picked up on the other day ,and i feel it is a important part for the court date.

 

 

 

One more thing that my hubby has pointed out is that on the paperwork they have send for the repossession.

 

There is a page saying what the following pages are.

 

Exhibit 1 Mortgage date is the 31st January 2006 ,but that has been crossed out and in pencil above it says 20th January 2005 with someones intials next to it

 

Exhibit 2 credit agreement 31st january 2006

 

Quote:

Exhibit 1 Mortgage date is the 31st January 2006 ,but that has been crossed out and in pencil above it says 20th January 2005 with someones intials next to it

Exhibit 1 is signed by our friends as witnesses for a top up on one of our personnal loans not the secured loan and it clearly shows the date as 20/01/2005.

But we never took out the secured loan until 2006 and it clearly shows on the credit agrement as 31/01/2006.

 

Exhibit 2 states on the page stating the following pages that the credit agrement is for 2006.

 

Seems they have messed up some where ,so does this help us

 

will it make a diffrence ,i would think it would as they have put down 2005 and not 2006 ,will the judge throw it out until they sort the paper work out and give us another date or still go ahead with the hearing.

[Ell-enn]

Hi there, we can do a statement for you to take to court on the day to bring this to the judge's attention.

 

Ell-enn

[sugg1]

Hi Sorry have not been online been really busy with work.

Anyway just wanted to let you know how we got on in court.

 

The judge was brillant and was totally on our side about the PPI ,he adjourned the hearing until our solictor has got all the info ready to present to him about the mis-selling of PPI.

The solictor for Blackhorse was totally lost for words and was not happy ,he said to the judge that he knew he was hot on mis-selling of PPI`s.

 

The judge even said we did not not have to make payments to blackhorse unless we wanted to.

 

He adjourned the hearing for 6 weeks and said he would put it in his personnal diary to see him in 6 weeks time.

 

We got the date today which will now be the 9th dec.

[Ell-enn]

Excellent news! a judge with common sense Well done for being so brave and taking them on! Did you get a solicitor to represent you in the end?

 

 

Ell-enn

[sugg1]

Hi Ell-enn

 

Yes we have a solictor who is representing us ,but he could not make it on the day we went to court.

But like i say the judge was brillant and we had no worries.

 

a judge with common sense

he sure has that ,a really nice judge

 

Well done for being so brave and taking them on!

Thanks i was so worried before we went in to see him i thought i was going to have kittens,thought we would have another horrible judge like the last time.

But came out feeling great.

 

Now we wait to see what happens on the 9th fingers tightly crossed.

[jansus]

Well done so far. Just a quick question had you thought about the actual mis-selling of the combined loan secured on your home( not just the PPI) when the bank knew your husband had a heart condition ?

 

At a time of hardship does not seem to me that they had onsidered your position at all?

[sugg1]

Hi Jansus

 

Yes we have and this is part of the point the solictor is making.

We had the 2 personnal loans that should have been paid off on the PPI ,but blackhorse said we could not claim for the first 2 years ,a few months later they contacted us to say they had a good deal on their interest rate and we could save some money.

We thought it was a good idea as we knew that hubby would lose his job in the armed forces later that year.

 

so we went into the local office and they combined the 2 personnal loans into the secured loan ,we informed the lady that hubby had heart condition and would lose his job later that year and she don`t worry the PPI on the secured loan would cover it.

 

6 mts later when hubby was forced to leave his job due to his heart we phoned Lloydstsb insurance and not blackhorse them selfs ,they said we could not claim on the secured loan as hubby had pre-exsiting condition when he signed the agreement ,BUT the insurance lady asked why hubby had not claimed on the 2 personnal loans as they would have paid out ,we told them blackhorse had said we could not claim for the first 2 years and Lloydstsb insurance said thats rubbish ,she said we would have been covered from when we signed the paper work.

But because the 2 loans were now combined into a secured loan we could not claim on the old loans.

 

so we have struggled to keep up payments and have waited for the day to come for blackhorse to take us to court ,as hubby said we will have are day in court and let the judge know what they have done.

 

Are solictor is going to claim back all moneys paid ect + 8% interest and said he might be able to get the loan wiped out ,but he said he could not promise that would be the out come,but at least get us some money back.

 

so really its not just about the PPI but about the whole loan that really should not exsitied .

 

Like i say we now wait for the 9th dec and see what the judge has to say ,but he was not impressed one bit with blackhorse and even their solictor said i know your very hot on PPI`s and the judge replied saying yes i am ,plus i don`t like ex armed forces members being treated like this ,so i am feeling good but not building my hopes up to much as you never know lol.

[gemspan]

Hi there

 

This is absolutely outrageous!!!!! You had PPI on the first unsecured loans which would have paid your payments and they said you couldnt claim for 2 years!!! I have never heard anything so ridiculous in my life. They then mis-sold you another "secured" loan with PPI that actually cost you more than the amount you borrowed. They lied to you about the cover because they get commission and obviously had to meet their monthly targets.

 

I know Blackhorse do this because they did it to me. They offered me a lower rate of interest if I took PPI and they didnt explain it properly to me either. Why did they have to "recalculate" your loan after paying off the PPI? The PPI should have been cancelled and ALL monies you had paid returned to you.

 

Your argument is simple here. You should never have had to take a second loan because the first 2 loans would have been covered by the PPI to repay your instalments. That's what PPI is for!!! Heaven forbid!!! IMHO the whole of the secured loan should be wiped out as it has been mis-sold and I would also be looking for compensation for the worry and distress this has caused you.

 

I am so sorry to hear this type of story but unfortunately it happens all the time. How worrying for you and your husband. Not only do you have your hubby's health to contend with but you have this hanging over your head as well. That's absolutely appalling treatment. I take my hat off to the judge for recognising this.

 

I do hope all goes well with you at your next hearing and I also hope that your solicitor is on the ball in trying to get the second loan wiped out, all payments you made refunded to you - loan repayments and PPI payments, and gets you substantial compensation for the anguish Black horse has caused.

 

Take care

Kind regards

Gemspan

[jansus]

I will be watching with interest.If there is any justice you should get a favourable result. So far so good.

[sugg1]

Hi,

 

Why did they have to "recalculate" your loan after paying off the PPI? The PPI should have been cancelled and ALL monies you had paid returned to you.

 

Their excuse was that they had to rework the loan because the PPI was cancelled and they had to take that off the total of the loan.

We were paying £175 amonth for the PPI alone and when they reworked the loan and it was reduced by £105 so still paying £70 more amonth because they had reworked it.

We have never recieved any money back from them from what we had paid for the PPI.

 

You should never have had to take a second loan because the first 2 loans would have been covered by the PPI to repay your instalments. That's what PPI is for!!!

Yes totally agree ,but they said other wise and we were stupid enought to believe what they said,including not being able to claim for the first 2 years,we did not know any diffirent as we had never put in for a claim before with anything.

 

I do hope all goes well with you at your next hearing

Yes me to ,i am living in hope that we do win and get something back would be really nice,hubby said he would be happy to just have the loan wiped out even if we did`nt get any money back.

 

We had a really nice judge and he really sided with us at the last hearing ,so fingers crossed everything go`s alright on the day,as we have the next date with him too.

 

what made me laught at the last hearing was he said to the blackhorse solictor if they don`t want to pay they don`t have to and i am not going to force them to ,its totally up to them LOL

[sugg1]

Went to court this morning and we saw another judge for some reason but he was nice enought.

 

We had all the paper work needed by the judge sent in from our solictor and also another run down of the whole suituation send in by our barrister.

 

The blackhorse solictor was a baby just out of training by the looks of things.

 

Anyway the judge again refused repo and also said we were not to pay until this was resolved.

He also refused to let blackhorse charge us the court cost and said they were reserved ,which means they are all kept in a pot till we find out who wins then the loser pays the lot.

The judge said that blackhorse have now got to come back with their defence ,he said he wanted it sorted by the 23rd of this month but blackhorse said no it was not enough time ,the judge looked shocked and said really as he smiled at us ,so he has gave them until the 7th january to come back with their defence.

 

He said that on the next date it should be resolved and that it was looking like a large payout so hopefully some time in january we will have our next court date and that we win ,our soilctor is very sure we will and the fact that 2 judges have refused blackhorse repo or payments is in our favour.

 

will keep you all update

[Ell-enn]

Brilliant!! fingers crossed for you in January - sounds like you've got an excellent chance of winning

[sugg1]

sounds like you've got an excellent chance of winning

 

Yes it sure does and fingers are tighly crossed ,thank you for your help and advice with all this Ell-enn

[jansus]

Well done - hopefully you can now relax a little as the ball is in their court so to speak.

[sugg1]

Hi jansus ,yes feeling relaxed about it.

 

Like you say the ball is in their court now and with the statement the barrister did i can`t see them wiggling out of it but you never know ,but time will tell.

[sugg1]

We recieved a letter from blackhorse solictors today saying the next court date is the 23rd january.

Have not recieved anything from the court as yet to confirm this and we are awaiting to hear from our solictor.

 

so hopefully its only a matter of a couple of weeks away.

[jansus]

Hi

 

just wishing you all the best and hope your ordeal will be settled soon.

 

Is your solicitor going to bring up about the times when the DD were not taken when there were sufficient funds? this has obviously caused extra interest to be charged on the loan as well? Mind you if there is any justice the whole loan should be wiped off anyway!