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Blackhorse PPI - mis-sold to pensioner?


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Hi, This is on behalf of my Great-Uncle aged 74....who can't understand why people are angry with the banks!!!!!!

Here's why, he had a loan over 12 months in 2002 for £1000.The very nice man from Blackhorse said they even provided the PPI so he (my G-Uncle) needn't worry if he got ill as it would cover his repayments.

 

The PPI wasn't expensive £3.50 per month 2.53% interest (APR 34.9%) but is this something I can help him get back as he was almost 70 when he took this loan.He had stopped work at 62 due to a stroke.

He assures me he told the bank this and besides, his disability income is paid into the bank.So it's not like they could plead ignorance.

 

Less than 6 months into the loan the same very nice man from blackhorse rang him and said he could have a bigger loan £4500. There was no PPI on this.But, with each monthly payment of £117 the interest charged ranged between £65-£70.

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Hi, This is on behalf of my Great-Uncle aged 74....who can't understand why people are angry with the banks!!!!!!

Here's why, he had a loan over 12 months in 2002 for £1000.The very nice man from Blackhorse said they even provided the PPI so he (my G-Uncle) needn't worry if he got ill as it would cover his repayments.

 

The PPI wasn't expensive £3.50 per month 2.53% interest (APR 34.9%) but is this something I can help him get back as he was almost 70 when he took this loan.He had stopped work at 62 due to a stroke.

He assures me he told the bank this and besides, his disability income is paid into the bank.So it's not like they could plead ignorance.

 

Less than 6 months into the loan the same very nice man from blackhorse rang him and said he could have a bigger loan £4500. There was no PPI on this.But, with each monthly payment of £117 the interest charged ranged between £65-£70.

 

Hi as far as I am aware the first requirement for PPI is that applicant is in full time employment.

 

so I would say claim back with interest, goodluck dpick:mad:

cannot find it A to Z

 

http://www.consumeractiongroup.co.uk/forum/consumer-forums-website-questions/53182-cant-find-what-youre.html

 

 

Halifax :D

Paid in full £2295

 

MBNA:mad: 20/03/2008 settled in full out of court

 

Capital One:D

07/07/2007 Capital one charges paid in full £1666

19/01/2008 recovered PPI £2216 + costs

 

Littlewoods :-D

12/08/2007 write off £1176.10 debt.

 

JD Williams charges refunded in full £640

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Hi, This is on behalf of my Great-Uncle aged 74....who can't understand why people are angry with the banks!!!!!!

Here's why, he had a loan over 12 months in 2002 for £1000.The very nice man from Blackhorse said they even provided the PPI so he (my G-Uncle) needn't worry if he got ill as it would cover his repayments.

 

The PPI wasn't expensive £3.50 per month 2.53% interest (APR 34.9%) but is this something I can help him get back as he was almost 70 when he took this loan.He had stopped work at 62 due to a stroke.

He assures me he told the bank this and besides, his disability income is paid into the bank.So it's not like they could plead ignorance.

 

Less than 6 months into the loan the same very nice man from blackhorse rang him and said he could have a bigger loan £4500. There was no PPI on this.But, with each monthly payment of £117 the interest charged ranged between £65-£70.

 

Hello and welcome,

 

These financial institutes are really disgusting.:-x I believe that your G Uncle was mis-sold the ppi and it should be reclaimed.

 

If you look at this information PPI - Some Notes for Claimants. It tells you reasons for mis-selling.

 

Age,(nearly 70):eek: pre-existing medical conditions(previous stroke):eek: and employment(retired):eek:

 

There is also some good template letters on there as well to send to them, so go and get them to pay it back.

 

Sorry did he take out the larger loan with them. If he did it does seem a lot of interest to pay. If he did I would send them a SAR and get all of the information about this.

 

Keep us posted and if you need help or advise just ask.:D

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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Hi HHNF.

Yes, he did take the loan for £4500 and without PPI. He says they rang him after 4 months offering this.(my suspicious mind tells me they may have spotted the flaws re the PPI) It was this loan that with each repayment of £117 he was being charged between £65-£70 interest.

I have 4 pages of payment printouts.

 

One year after this loan(now 2003) He says they rang him again now offering a further loan of £7,500.Repayments of £207 p.m and his interest is now £135-£142 p.m. (Absolutely disgusting)

 

I can see from these printouts he started struggling with these repayments after 16 months and looks like he was making half payments.

In Nov 2006 looks like there was a settlement with a collection fee of £250 and a new loan created for £5,050 with repayments now of £101 p.m

 

My G-Aunt showed me all these loan agreements/statements whilst he was in hospital 4 weeks ago, I tried to explain how I believe they have been treated appallingly because of their vulnerability. But,as I mentioned earlier, my G-Uncle thinks they have been nice with him!!

 

I sent DPA letter and the 4 printouts are what have been sent.

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Hi HHNF.

Yes, he did take the loan for £4500 and without PPI. He says they rang him after 4 months offering this.(my suspicious mind tells me they may have spotted the flaws re the PPI) It was this loan that with each repayment of £117 he was being charged between £65-£70 interest.

I have 4 pages of payment printouts.

 

One year after this loan(now 2003) He says they rang him again now offering a further loan of £7,500.Repayments of £207 p.m and his interest is now £135-£142 p.m. (Absolutely disgusting)

 

I can see from these printouts he started struggling with these repayments after 16 months and looks like he was making half payments.

In Nov 2006 looks like there was a settlement with a collection fee of £250 and a new loan created for £5,050 with repayments now of £101 p.m

 

My G-Aunt showed me all these loan agreements/statements whilst he was in hospital 4 weeks ago, I tried to explain how I believe they have been treated appallingly because of their vulnerability. But,as I mentioned earlier, my G-Uncle thinks they have been nice with him!!

 

I sent DPA letter and the 4 printouts are what have been sent.

 

Have they sent the original true copies of the credit agreement, those will state as to whether ppi was applied to all the loans

 

what he had signed for. They should have or they have not complied with your DPA. Maybe send them a CCA costs a £1

Chase it up and go after them for full refunds of this ppi.

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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HHNF

Thanks for the response. I have all the original agreements and statements of repayments courtesy of my G-Uncles meticulous hoarding of paperwork!

 

Blackhorse sent 4 pages of printout repayments/statements of account.Each one relating to the four different loans. Everything seems in order,it's the huge amounts of interest that concerns me.I take it there's not a lot I can do regarding this????

 

The PPI is only on the very first loan of £1000 in 2002. As said in my first post, it's not huge (£3.50 p.m-interest @ 34.9%) it's the principle under which they sold it for all the reasons you mention.

 

I will be getting a letter off to them demanding a refund for this. I would like to get a very strong letter together regarding their sales pitch to someone of 74 years old. He's quite articulate but doesn't grasp details too well.He is aware of what I'm going to do but doesn't want me to upset the bank..............................As if??????????

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HHNF

Thanks for the response. I have all the original agreements and statements of repayments courtesy of my G-Uncles meticulous hoarding of paperwork!

 

Blackhorse sent 4 pages of printout repayments/statements of account.Each one relating to the four different loans. Everything seems in order,it's the huge amounts of interest that concerns me.I take it there's not a lot I can do regarding this????

 

The PPI is only on the very first loan of £1000 in 2002. As said in my first post, it's not huge (£3.50 p.m-interest @ 34.9%) it's the principle under which they sold it for all the reasons you mention.

 

I will be getting a letter off to them demanding a refund for this. I would like to get a very strong letter together regarding their sales pitch to someone of 74 years old. He's quite articulate but doesn't grasp details too well.He is aware of what I'm going to do but doesn't want me to upset the bank..............................As if??????????

 

Hello,

 

I totally agree, they prey on the vunerable, just to reach targets and get commission. You have stated that they have sent you 4 print-outs regarding the repayments. Maybe they have sent you what they want you to see. I always treat what they tell me with great suspicision, because it is not in their interest to tell you everything.

 

The reason I ask about the true credit agreements and obtaining copies of them. If you get them you can see what he signed for and the APR of interest. Lok at this loan repayment calculator, you can mess about with the find the interest rate the applied to the loan Mortgage Calculator, Loan Repayment Calculator, Currency Converter, Mortgage Affordability | This is Money

OOps:eek: sorry you have previously stated that you have all the original agreements.

 

But do the bank:-D If you sent a CCA request, you will find it in the sticky Creditors and DCAs - Letter Templates & Budget Planner. letter N. costs a £1. When you read the letter you may understand what I am getting at. :wink: I call it payback time. Hopefully:-D if they can't produce it.

 

Sorry I always have to have the last word with these shysters:-D

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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