Black Horse/Skye Charges

[francoe]

Hi

I have recently finished paying a loan, originally with Black Horse now with Skye.

I have made all contractual payments under this agreement. (well actually I overpaid by 1 instalment)

 

90 payments of 278.26 for agreement

91 payments of 278.26 made

 

The balance of this account is now stands at 775.04

This amount derives from 15 charges of 25.00 & 7 charges of 30.00

A charge of 15.00 to change the date of the repayments.

Also now a charge of 12.00 from Skye in March this year for an alleged instalment payment missed.

All information is obtained from a SAR sent to Black Horse in February 2016.

 

Skye took over receiving payments for this account in June 2015.At that point I had 7 payments to make, although due to a communication error with my other half 8 were made. All these payments made in full and on time.

So as far as I was concerned this loan was finished, but was aware account had incurred charges during a bad period for us 2009-2011.

 

I have never accepted these charges & made Black Horse aware of this & of our financial problems at that time hence paying for a date change in repayments to try and rectify problem but didn’t work & I continued to be charged.

I have recently received a letter from Skye quoting that I have missed a payment of 278.26 in March and have subsequently been charged 12.00.

 

Against better judgement a phoned Skye and asked how can I have missed payments when all contractual payments had been made +1. They hadn’t a clue what anything was as they had only received a balance figure from Black Horse & said they would look into it.

Another telephone call to Skye now reveals that this balance is made up of charges & interest. Some of the interest occurred from the start of the loan (draw down of funds in July 2008 & the 1st installment being paid in August 2008) and it was then pointed out that the amount owed now 775.04 is now capital. I repeated that I did not agree with the charges and would not be paying them and that I would be taken action to reclaim these charges & would send a letter this weekend.

 

The only problem is what letter would I use to address this situation, it’s been quite some time since I tackled anything like this & I know things have changed somewhat as regarding reclaiming charges. I spent a little time looking at COBS(unfairness) is this a route to take & do I take up this fight with the original lender as I have read a post from Bankfodder regarding all duties still remain with them even if sold on. The reason I ask this is Skye told me to deal only with them and not with Black Horse.

 

I work away from home during the week and can only deal with this at the weekend and as we all know these amounts soon start to get out of control so I need to deal with this as quickly as possible.

 

If any info is required I have all letters statements and telephone transcripts.

Any information or guidance is much appreciated.

Thanks

[francoe]

Hi

Further to post a letter received during the whilst away.

As advised by Skye charges have been reassigned to capital.

[SabreSheep]

Ok first thing you need to do is get all your paperwork in order. You say you have all the statements so that is a good start. It is worth sending the original creditor a full subject access request. Cost 10 quid should give you everything.

 

This helps reduce chances that they can pull things out of the Woodwork. Also may highlight things like ppi as well.

 

You need to prepare a preliminary letter of claim. To do that you need to use our interest calculators on those charges to get your claim figure. Im on my phone atm so cannot link to it. Look under our cag library for now.

 

Once you have done that you are ready for your next step.

[francoe]

Ok first thing you need to do is get all your paperwork in order. You say you have all the statements so that is a good start. It is worth sending the original creditor a full subject access request. Cost 10 quid should give you everything.

 

This helps reduce chances that they can pull things out of the Woodwork. Also may highlight things like ppi as well.

 

Firstly, thanks for taking the time to have a look & replying, much appreciated.

 

I sent Black Horse a SAR in January & they complied and sent me statements,letters & telephone transcripts as well, a fair bit really.

 

Also I m pretty sure ppi is not involved, sure it would be highlighted somewhere within the paperwork?

 

I have found the letter and will start work on this shortly.

Thanks again for your direction.

 

Hi ss

If you get time can you post me a link to letter & calculator.

Have gone through library can only find this letter that may be of use,is this correct?

http://www.consumeractiongroup.co.uk/forum/showthread.php?390026-Mortgages-Reclaiming-Charges-**Correct-as-at-October-2013**

Thanks R

[martin2006]

Just edit that letter to suit your situation and the spreadsheets are in the link below

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?330996-Latest-Spreadsheets-PPI-Claims-and-Charges-Claims-Dec-2011&p=4273920#post4273920

[francoe]

Thanks also Martin

I am trying to get this sorted today I have re-typed letter but I do have a few more questions which hopefully I can get posted today.

Thanks

 

Ok

Just finally sat down to have a look at the spreadsheets.

 

Right I believe I am to use the CIS Version for my claim.

Fine.

 

My be sounding like a plum here but where would I get the APR from a Black Statement or the original contract?

 

Also referring back to my original post I have made an extra installment payment how does this fit into the equation?

 

Just a few more things to iron out on the letter.

 

1.This was a joint account with my wife,do I word the letter in the plural, as I am doing the letters I keep using the singular.

 

2.The loan was originally taken with Black Horse and was a secured loan,

Skye now call it a Mortgage.Do I use the word secured loan or mortgage

 

3.Do I send this letter to Black Horse(the original lender) or Skye Loans (the new owner) or both.

 

Hopefully this is the last of my questions, may seem trivial but want to get this right from the start and get this letter sent out.

 

Thanks for your replies and time.

3

[martin2006]

Use the CISheet if you are claiming interest in restitution at the rate they were charging you, otherwise use the statintsheet and use 8% s69 interest

 

I currently have a claim for mortgage charges which was a joint mortgage with my now ex wife, i have claimed as a sole claimant but will obtain a declaration from her to that effect, otherwise you can go solo, you may need to add her as a joint claimant, or just make a joint claim, see cpr 19 for more info.

 

Refer to it as a secured loan, now a mortgage and reference it as "the account"

 

Send it to skye and add the last overpayment to the spreadsheet

[francoe]

ok thanks will re-word letter to suit.I am using the ci spread.If I come across anything else will ask.

Thanks

[francoe]

Ok

I have managed to sit down and sort letter.

Trying to fit this in between everything else.

 

have attached my letter ,

how does this look?

 

The total amount of charges is 597 + over payment of 278.26 making total of 875.26

 

CI is 629.22 based on the original loan agreement of 15.9%

 

Making a total of 1504.48.

 

As you will see I have not included the interest in my letter , is this correct?

[martin2006]

2nd to last paragraph you may want to change to give them 14 days ir they will have 8 weeks before you can send the LBA, which will be almost identical other than its headed "Letter Before Action". include a copy of the spreadsheet with it and send it recorded delivery or at least obtain proof of posting from the PO

Edited May 5, 2016 by martin2006

[francoe]

ok martin

 

wow quick reply.

 

So I have to incorporate 14 day timeline.ok,will re-word that then.

Is it correct otherwise?

I mean,not including interest in the charges amount?

 

Will re-word and re-post tomorrow.

Thanks for quick reply

[martin2006]

The spreadsheet should have calculated interest in restitution to date, you should state the amount claimed plus interest to date as per the CISheet for now, if and when you issue a claim, the interest changes from the issue date to s69 interest at 8%.

If you read other threads for charges claims, youll get the picture

[francoe]

Thanks for reply Martin

 

I came across some old letters on a memory stick, could I merge this one with mine.In regards to the 14 day timeline and also the reference to the credit file?

 

Apologies trying again

 

Ok hows this read.

Any alterations

[martin2006]

I wouldnt reference FOS, just give them 14 days to respond then if no refund, issue the Letter Before Action giving a further 14 days, then you issue the claim via mcol

[francoe]

Ok thanks Martin

But all reads ok with the way charges & interest have been written?

This is my main concern that this is right from the start.

Will amend FOS part & get this sent off Monday.

Thanks again

[martin2006]

Yes ok other than that, include a copy of the spreadsheet and keep copies for your own files

[francoe]

OK

Letter was away yesterday.

Will post back when or if I receive a reply.

Thanks for all help.

[francoe]

As said a reply yesterday from Skye Loans

 

This doesn't do much really except passing it back to Black Horse the original lender.

 

How do I stand now with time lines and the like.

 

 

Do I just wait for Black Horse or should I now be doing something else

or do I take it that Skye hasn't really handled my complaint stick to the 14 day timeline and send an LBA.

 

Thanks

[martin2006]

Stick to YOUR timelines

[francoe]

Thanks for the reply Martin.

Will continue as is then.

Will post up if anything does appear from Black Horse in the meantime.

 

Thanks

[francoe]

Hi Martin & all

Nothing up since last post.

14 days finished on Wednesday just past.

I need to get LBA sent could you possibly link me to a template if you are around.I Cant find it.

Do not think I m lazy its just i dont have much time.I am a shopfitter by trade and my hours are very demanding leaving me very little time to sort things.I am home from London tonight & then have to leave for London again tomorrow at 5.30 ,a good 3 hr trip so could do with penning a letter tonight.

Also regarding my previous post,I carry on with sending the LBA to Skye and completely ignore Black Horse.

 

Thanks Rob

[martin2006]

You dont need a template, its basically the same as your preliminary letter but with "Letter Before Action" heading

 

If you dont get a result in 14 days time, issue a claim via MCOL

 

We can help with the POC when that time comes

[francoe]

Ok thanks Martin

Back at work now so Mrs will have to type up & send

Will post up update as soon as

Thanks again

[francoe]

Unfortunately letter had to wait for me to get home.

 

I have drafted LBA ready to post out tomorrow.

 

the only question I have to ask is who am I sending it too,

 

Black Horse or Skye.

 

Reason for asking is that I received this letter yesterday.

 

Thanks

[martin2006]

As skye have passed the complaint to black horse then BH have recd the preliminary, so the lba must now go to black horse aswell