multiple loans with BH, now cant afford any of them

[bluegal]

I am so sorry if this is the wrong section

but I joined today as Im at my wits end,

 

 

My Husband and I took a secured loan out with Black Horse 18 months ago

this was done very quickly, so much so I was dazzed at the speed,

 

 

the sum was for £20,000 over period of 10yrs,

but out of the we got £11,000 as we had to clear the exsisting loan which was not secured,

 

 

in all I have had 9 Loans from Black Horse over a period of time.

This one for £20,000 we were okay with for a few months,

but I suffered a collasped lung and lost my work,

 

 

We tried to keep up payments but was unable to do so,

I wrote to Black Horse Several times to ask for a reduction on monthly payments as income was very low,

they refused, there was no mention of PPI,

 

 

My Husband then became seriously ill in October Last Year, I was still trying to get a response from Black Horse about a reduction

but was passed from one person to another,

 

 

In January Black Horse contacted me and offered me another Loan to clear this one completely,

I refused and informed them that I had lost my work and my Husband had suspected Cancer,

 

 

I was then told I had PPI and to contact them but doubt they would make any payments

as they will not back date them, so I was getting deeper in debt,

 

 

My last results was to sell our Home,

I told them I shall pay this Loan as I have to sell our home to do so as I have had no help from them at all,

 

 

We did make some payments but not many and our Balance was £17,000

 

 

,Also in the paper work it states before a quarter has lasped to pay £17,000.

 

 

We had to let our home go at rock bottom price and

I know in the area where I live you would be lucky to get a 1 bedroom flat for the price we let our home a 3 bed house for 26yrs go for,

 

 

The Black Horse has charged us £28,435 with the knowledge that we could not sell the house till they were paid, out of the sale of our home we were left with £83,

Yes £83,

 

 

I have asked the Black Horse what the £28,435 was for excatly, as we owed £17,000 and with interest £20,000,

which I felt Okay we will pay this,

 

 

But they wanted £28,435,

 

 

all I got from them when I caledl was being past from one person to another,

and the reason they have charged us the extra £8,000 is Interest on the Interest,

 

 

I am very baffled as to how a Bank can charge £4,000 per year Interest?

Am I able to get any of this money back at all?

I could not claim when I lost my job as I did not know we were covered as everything was done so fast,

 

 

Also when I was told we could claim on my Husband as Full cover was put on this Loan

, I was also told they would not back date that either,

and that resulted in the only option we had left open to us the sale of our home,

 

 

I am heart broken over this and also we do not even have enough to place a deposit on a rental accomendation,

we are staying at a friends at the moment and my disabled son at his Brothers.

 

 

Please forgive me if you have trouble understanding this, but any help would be so welcomed,

I have applied for the refund of PPI, its the £8,000 extra they have taken I am so concerned about.

Thank You for reading this ,

Bluegal x

[jdes26]

I've flagged up ur case and someone will be here to help.... I'm sorry to hear of your situation. U say u had 9 loans that got put in to one? The ppi is correct you can claim that and any charges?? Try not to worry this is the best site on the web and the cag will help that's a promise

[jdes26]

U need a breakdown of all charges and interest and a copy of all loan ageements. You can do a sar request this will give you all the info u need I'm posting from phone but later more advice and help will come.. I suspect black horse have acted very badly so I'm positive there will be monies to be returned

[42man]

What a shocking story....can you make this clear ? So you HAD PPI, but despite all that was happening they didn't pay out on a policy that you had specifically to cover you in these types of events ?.....Do you have access to any legal advice at all ? Once it is found that the PPI was missold it brings the whole agreement into question....your first step is to try and seek some legal advice if possible, get a meeting with your MP too...you must start the SAR process started ASAP.....You say you have applied for a refund of the PPI ? how ? if it is directly to the bank, then in my friends case they (the bank) gave a flippant and frankly dire reply, refusing to refund the PPI, and it was taken by him to the FOS...who immediately ruled in his favour.....but in your case I think there are possibly wider implications....

[jdes26]

Thanks 42man for posting..... This is a terrible case and who drove this situation in black horse ahold be jailed

[bluegal]

Hi, Yes I had PPI on this Loan,

But I did not know this till January when BH phoned me to ask me to take another Loan out with them,

 

 

Since I lost my work I was in consent contact with BH and not one person mentioned I had PPI,

not even when they refused a reduction in the monthly payments as I asked for a payment book so I could pay them what I could afford

, not even when I told them my Husband was ill,

 

 

I never knew till January when I received a call from BH,

the person I spoke to said The new Loan would help to clear this one and start afresh,

I told him that was not a good idea as I can not afford it,

due to my unemployment and my Husbands illness,

 

 

Thats when he told me that I had PPI, and I was given the number to call,

 

 

But was also told that they will NOT back date a claim at all so really in short "Im wasting my time".

 

 

Then I was told that they are going for a procession order as they want the property,

so all I could do as I could not see a way out was to sell my Home,

 

 

I took a £100,000 reduction on my home for a quick sale, to get BH off my back,

the House nx door was sold for £250,00, Yes I let mine go for £146,000 as I did not want to see BH with it.

 

 

All BH will say to me about the £8,435.00 is that it is Interest on the Interest of the Payments,

 

 

I feel that BH has tried to get my home with the knowledge as they had full knowledge that we were struggling

and not once did they mention PPI to me, not until January when they wanted me to take another Loan,

and as I refused I was informed that they were going to issue a procession order and that PPI would NOT be back dated if we claimed,

 

 

the PPI on this Loan was £11,435.00 on the Loan I owed BH £17,000 but they took £28,435.00 out of the sale of our home of 27yrs we got £83.00,

 

 

What is baffling me is what we owed and the cost of the PPI is the correct total of what they took,

 

 

But they are saying its all Interest?

 

 

I have really tried to get somewhere with them but I just get push from one to another,

 

 

I wish I could just get some of the money back to help put a roof over my son and my husbands head

 

 

, this is making my husband feel like he has let us down and making his condition worse.

Bluegal x

[bluegal]

Sorry I need to add, over a period of 5yrs we have had 9 seperate Loans from the BH and all of them were cleared early no later than 12mths, and I have just found out all of the Loans had PPI on them, so the Loan for £7,000 was cleared in 12mths for us to take another for £10,000, as you can not have 2 Loans at the same time with the BH the last Loan was the £20,000 which was secured on our home.

 

Bluegal x

[jdes26]

U need to write down every loan u had account number/every info needed on each one. Then u MUST sar blackhorse on every piece of info they have on you. When you make your request you need to have to is all letters/ telephone recordings/ copies of all agreements. I can't stress this ENOUGH ....... You need all info. Once you have we can list ppi/charges for a refund. then we need to find out WHY this has happened..... This is very serious and heads have got to roll. You need to be lookin at a major compensation claim for undervaluing the sale of your home. You need to involve the fos and and ur gona need a solicitor. With cag help u can win this war. But you need to act swift and fast

[jdes26]

can u please let me know how your getting on im interested in your position and want to help

[mills1]

Sorry to hear about your situation, puts many of our cases into perspective.

I am wondering, Black Horse are part of Lloyds Tsb?

If so, and you have not already done so, an email off to [email protected]

 

People have had a mixed bag of responses, personally this seemed to do the trick.

Best of luck to the both of you.

[bluegal]

I have all the Loan agreement Numbers for every Loan I have had from them,

I was told dates etc they are unable to give me and any other information,

 

 

I have contacted a company that claims they are able to get the PPI back on every one of the Loans,

I am also currently going through all our paper work for every agreement we have had from BH

I have found 3 so far,

 

 

I have been passed from pillar to post on the £20,000 one,

they still maintain that the amount they took was for the loan itself,

the remaining balance of £17,000 plus interest on the payments missed,

and interest on the Loan for the period of 18mths, which amounts to an extra £11,345.00 so total was £28,345.00.

 

 

I have asked for a Break down on this as I find it very strange that they can charge interest twice?

and do not understand how they got to the figure of £11,345.00.

Plus I have a court hearing date from them now for the 7th of july? for reprocession of the House?

 

 

I am now more confused as the Loan was Paid when the House was sold,

Maybe that will be cancled when they relise the error,

I am going to ask in writing for all information they hold on my Husband and Myself to be forward to us,

everything since our 1st Loan with them, As I feel we are entitled to this at least,

 

 

So all I can do now is wait to see what they forward to me.

 

 

So really I feel that I have tried to get somewhere but no where fast, the only positive I have received is a court hearing date?

 

 

I know I should contact them and ask why this has been done as we owe them nothing

, but theres a side of me that says NO dont do it, lets see if they go ahead with it.

 

 

I shall send an email to whom you suggested mills1,

all I know whatever I do will never get our Home back.

Bluegal x

[Craigbadger]

bluegal you are clearly at a very advanced stage.

I'd recommend you post up a thread here, you will get a lot more hits and there are people with real knowledge.

 

Debt Collection Industry - The Consumer Forums

[42man]

Bluegal....I will move this thread to the legal section. I think in the first instance you should write a really strongly worded letter to the Chairman of LLoyds Bank, stating EXACTLY what has happened. In the meantime it may even be worth getting in a claim, but at this stage I would avoid a claim company....do you have access to a solicitor ? legal aid ? at all......

[42man]

Lloyds bank seem to be the worst of all of them !! - Lloyds Group tops ombudsman complaints table | Money | The Guardian

[pompeyfaith]

offering you another loan when it is clear you are struggling with one already is a no no and im sure this would be classed as unfair and thus come under the UTCCR

[pompeyfaith]

I agree with 42man in that a CMC is not the way to go as there is loads of issues with your case and they would just complicate matters further what you need is a solicitor

[pompeyfaith]

i would be calling the community legal advice line they can put you in touch with a solicitor and see if you qualify for legal aid

[bluegal]

Thank You everyone, I shall go to the citizen advice and see if I can get legal aid, and I shall put pen to paper stating what has happened to my Husband and Myself with this Loan, I gather that is the Link an Mr J Eric Danials I contact?, I shall also send an email that way he should have 2 from me. I am so grateful for all your help, I do so much want to mention the court hearing to them, pointing out the error, I am not certain wether to or not, as the hearing is for the Loan. Yes I know they had full knowledge of us struggling and still offered us another Loan, I am still in shock of only getting after the sale of our home £83.00, all those years my Husband worked its Heart Breaking. I feel that BH have destroyed us.

bluegal.

[pompeyfaith]

Bluegal,

 

The important thing is you are in good company now and with forum members help you can get this sorted.

 

I and many other members know full well what black horse are like as many have had to go though there wrath.

 

To help at the CAB it maybe a good idea to spend sometime writing down the points of your case as that will help you to stay focused.

 

Take with you any documentary evidence you have although this will be limit I understand until you get the S.A.R sent off.

 

Good luck and keep us undated so we can help you along the way.

 

Regards

 

PF

[bluegal]

Hi, Just to update a little,

 

 

I attended court today with the full knowledge that BH has had all what they wanted paid to them,

They did not cancle it, nor turn up,

 

 

the judge was very angry that my time and theirs has been wasted considering they had the Money since last month

and had ample of time to stop this.

 

 

The judge also steered me into a direction in connection with what BH has done to us,

I have an appointment tomorrow to see if any sense can be made of what BH has charged us with a Person that was at the Court,

 

 

I have had NO break down on the Money they took, all I got was a Figure they wanted paid to them,

But this person says that what I have paid is with the payments they have had, does count up to the Loan going the Full 10yrs,

NOT the 18mths we had it for, and They seemed to have over charged us,

 

 

But till he looks at what I have and that is tomorrow morning I do not have much more to add,

Only that I left the Judge in a wonderful Foal mood over BH by wasting Myself and their time and the Courts time.

 

 

I shall let you all know how I get on tomorrow,

I have also heard about the PPI's we had on the Loans that we have had over the years,

BH has agreed to pay out on 5 of them but the 4 Big ones they are not willing to,

so I understand this shall be argued,

 

 

I also told the Judge how I felt that BH forced me to sell my Home esp when they offered me another Loan in January

with the knowledge that we were Struggling.

Update you all tomorrow on this

Thank You

Bluegal

[jdes26]

Your doing good! Hope u get just compensation.

[mills1]

Bluegal good luck with your case keep us updated.

[bluegal]

Hi Everyone.

I emailed Eric Daniels and put everything BH has done, I got a Reply the Following Day stating that they are now Investigating this for me and shall contact me within the next 10 Days and also I shall get all the Information I have asked for in Relation that they hold on My Husband and Myself since 1995. I even put that when I try and Telephone BH all my calls are redirected and none are Accepted by BH only to a Solicitor that works on their behalf and all I get from him is Insults and Rudeness.

I am really hoping that Mr Daniels is able to shed some Light on this for us.

 

Bluegal.

[Docman]

Hi bluegal

 

What has happened to you is a disgrace and I'm glad that you have had a response from Lloyds top brass. That alone means it is on someone's radar and can't 'disappear'.

 

That said, you should be aware that your email will be passed to the bank's complaint's team. Such complaints used to be dealt with quickly and within a MAXIMUM of 8 weeks. Regretably, most banks just meet that deadline these days. Post again when you get a proper response and we'll see if we can help you make sense of the woffle they will come back with in response.

 

Doc

[jdes26]

What I would do is claim all outstanding charges and refunds and put the money together contact a good solicitor and sue there sad asses!!!!!!