PPI claim against Black Horse Finance - Where do I start??

[The Debt Star]

Re: PPI claim against Black Horse Finance - Where do I start??

i always get the PPI Quezzy in to the lender ASAP as a matter of course, gets the 8 week clock running as you say Di plus with the massive delays with the FOS now it all helps.

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

When you say the PPI questionaire, I assume you mean this one:

http://www.financial-ombudsman.org.u...stionnaire.doc

Also, due to some of the specifics asked on the form, should I complete 3 forms, one for each loan?

There will be a lot of information which I can't fill in though, such as Policy Numbers for the PPI, account numbers for the loans etc.

It also asks if I ever missed any payments, well judging by the DD payments on my bank statements then Yes i did miss some payments, although I can clearly remember taking some payment holidays through the duration.

How accurate and specific does this form have to be filled out as without all the details of the loans in hand I feel I will be either leaving quite a few boxes blank or guessing in some cases.

Would it be better to see what the SAR comes back with?

[Turboman]

Re: PPI claim against Black Horse Finance - Where do I start??

Hi Deller----list out the dates of the DD's for us for each loan with the Date Paid anyway and I'll enter into our sums spreadsheets anyway

THEN--Di and Debt Star can then suggest what we do-----BUT we need to get some sort of draft claim in before end of AUGUST anyway---as that is atrigger date for firms to process and pay out--otherwise itsDecember (I think)

When you say the PPI questionaire, I assume you mean this one:

http://www.financial-ombudsman.org.u...stionnaire.doc

Also, due to some of the specifics asked on the form, should I complete 3 forms, one for each loan?

There will be a lot of information which I can't fill in though, such as Policy Numbers for the PPI, account numbers for the loans etc.

It also asks if I ever missed any payments, well judging by the DD payments on my bank statements then Yes i did miss some payments, although I can clearly remember taking some payment holidays through the duration.

How accurate and specific does this form have to be filled out as without all the details of the loans in hand I feel I will be either leaving quite a few boxes blank or guessing in some cases.

Would it be better to see what the SAR comes back with?

[The Debt Star]

Re: PPI claim against Black Horse Finance - Where do I start??

When you say the PPI questionaire, I assume you mean this one:

http://www.financial-ombudsman.org.u...stionnaire.doc

Also, due to some of the specifics asked on the form, should I complete 3 forms, one for each loan?

There will be a lot of information which I can't fill in though, such as Policy Numbers for the PPI, account numbers for the loans etc.

It also asks if I ever missed any payments, well judging by the DD payments on my bank statements then Yes i did miss some payments, although I can clearly remember taking some payment holidays through the duration.

How accurate and specific does this form have to be filled out as without all the details of the loans in hand I feel I will be either leaving quite a few boxes blank or guessing in some cases.

Would it be better to see what the SAR comes back with?

Yes thats the one mate.

Be as accurate as possible. If I don't know the data I personally leave that blank and update it later with an amended PPI Quezzy. I did this recently with First Direct who accepted the updated form (admittedly not necesarilly the claim yet!).

Di may think differently to me on leaving blanks in the PPI Quezzy so follow HER advice!! FWIW I would have thought it best to say "TBA" or left blank than put in incorrect data.

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

Yes thats the one mate.

Be as accurate as possible. If I don't know the data I personally leave that blank and update it later with an amended PPI Quezzy. I did this recently with First Direct who accepted the updated form (admittedly not necesarilly the claim yet!).

Di may think differently to me on leaving blanks in the PPI Quezzy so follow HER advice!! FWIW I would have thought it best to say "TBA" or left blank than put in incorrect data.

Cheers DS

Would you suggest I fill out 3 forms, one for each loan?

[Turboman]

Re: PPI claim against Black Horse Finance - Where do I start??

Most definitely 3 forms Deller imo as each is different circumstances ----probabably


Yes----I need the info from your bank statements

Date Paid and amount and then I can look at interest considerations for missed payments and payment holidays

REPEAT Dellear-lol----Which firm was it?

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

Turbo, here are the DD and Credit details in full:-

15/11/2001 Credit £1000
18/12/2001 DD £67.94
18/01/2002 DD £67.94
18/02/2002 DD £67.94
18/03/2002 DD £67.94
18/04/2002 DD £67.94 (this payment is an assumption as the statement is missing)
20/05/2002 DD £67.94
18/06/2002 DD £67.94
18/07/2002 DD £67.94
12/08/2002 Credit £688.48
18/11/2002 DD £77.99
03/12/2002 Credit £2979.28
18/02/2003 DD £201.07
22/04/2003 DD £201.07
19/05/2003 DD £201.07
18/06/2003 DD £201.07
18/07/2003 DD £201.07
18/08/2003 DD £201.07
18/09/2003 DD £201.07
20/10/2003 DD £201.07
18/11/2003 DD £201.07
18/12/2003 DD £201.07
19/01/2004 DD £201.07
18/02/2004 DD £201.07
19/04/2004 DD £201.07
18/05/2004 DD £201.07
18/06/2004 DD £201.07
19/07/2004 DD £201.07
18/08/2004 DD £201.07
20/09/2004 DD £201.07
18/10/2004 DD £201.07
18/11/2004 DD £201.07
18/01/2005 DD £201.07
18/02/2005 DD £201.07
18/03/2005 DD £201.07

You may notice some gaps in DD payments made, this would have been when I took payment breaks - from memory I was allowed 1 per year! I have had to make the assumption that I did make a payment on April 2002, unfortunately this is the only statement page I have missing.

I'll let you guys work your magic.

Thanks so much
------------------------------- merged -------------------------------

REPEAT Dellear-lol----Which firm was it?

Black Horse Finance (as stated in the thread title) LOL msl:

[The Debt Star]

Re: PPI claim against Black Horse Finance - Where do I start??

Delete this post Deller and PM it to Turbs. The bank will identify you from this data!

Too late!

[Turboman]

Re: PPI claim against Black Horse Finance - Where do I start??

Turbo, here are the DD and Credit details in full:-

15/11/2001 Credit £1000
18/12/2001 DD £67.94
18/01/2002 DD £67.94
18/02/2002 DD £67.94
18/03/2002 DD £67.94
18/04/2002 DD £67.94 (this payment is an assumption as the statement is missing)
20/05/2002 DD £67.94
18/06/2002 DD £67.94
18/07/2002 DD £67.94
12/08/2002 Credit £688.48
18/11/2002 DD £77.99
03/12/2002 Credit £2979.28
18/02/2003 DD £201.07
22/04/2003 DD £201.07
19/05/2003 DD £201.07
18/06/2003 DD £201.07
18/07/2003 DD £201.07
18/08/2003 DD £201.07
18/09/2003 DD £201.07
20/10/2003 DD £201.07
18/11/2003 DD £201.07
18/12/2003 DD £201.07
19/01/2004 DD £201.07
18/02/2004 DD £201.07
19/04/2004 DD £201.07
18/05/2004 DD £201.07
18/06/2004 DD £201.07
19/07/2004 DD £201.07
18/08/2004 DD £201.07
20/09/2004 DD £201.07
18/10/2004 DD £201.07
18/11/2004 DD £201.07
18/01/2005 DD £201.07
18/02/2005 DD £201.07
18/03/2005 DD £201.07

You may notice some gaps in DD payments made, this would have been when I took payment breaks - from memory I was allowed 1 per year! I have had to make the assumption that I didd make a payment on April 2002, unfortunately this is the only statement page I have missing.

I'll let you guys work your magic.

Thanks so much

Cheers-----theres no prolonged arrears through missed payments at all

[di30]

Re: PPI claim against Black Horse Finance - Where do I start??

When you say the PPI questionaire, I assume you mean this one:

http://www.financial-ombudsman.org.u...stionnaire.doc

Also, due to some of the specifics asked on the form, should I complete 3 forms, one for each loan?

There will be a lot of information which I can't fill in though, such as Policy Numbers for the PPI, account numbers for the loans etc.

It also asks if I ever missed any payments, well judging by the DD payments on my bank statements then Yes i did miss some payments, although I can clearly remember taking some payment holidays through the duration.

How accurate and specific does this form have to be filled out as without all the details of the loans in hand I feel I will be either leaving quite a few boxes blank or guessing in some cases.

Would it be better to see what the SAR comes back with?

Hi

Personally I would complete separate forms for each as they may confuse, although your able to complete on the same form if you want to, then you would have to make sure you enclose all account numbers that apply.

How long ago was this loan taken out now (to save me going back on posts)?
The loan is that of the account number you require, but if you still bank with the same bank now where your loan monthly repayments came out of, and bank online, this should allow you to go back to around 2002, the loan account number is normally shown next to the monthly repayment, or call into the bank and speak to the branch manager who may search the details on request, and of course the loan account number is the same number as that of PPI.

I would try to complete all you can and all you can remember, and in regards of the missing payments, unless you want to wait for the SAR, otherwise write in N/A for Not applicable.

Basically though if you prefer to wait for the SAR that is up to you of course, there is no harm in still making a start on the areas on what you do know.

[Deller]

Re: PPI claim against Black Horse Finance - Where do I start??

Hi

Personally I would complete separate forms for each as they may confuse, although your able to complete on the same form if you want to, then you would have to make sure you enclose all account numbers that apply.

How long ago was this loan taken out now (to save me going back on posts)?
The loan is that of the account number you require, but if you still bank with the same bank now where your loan monthly repayments came out of, and bank online, this should allow you to go back to around 2002, the loan account number is normally shown next to the monthly repayment, or call into the bank and speak to the branch manager who may search the details on request, and of course the loan account number is the same number as that of PPI.

I would try to complete all you can and all you can remember, and in regards of the missing payments, unless you want to wait for the SAR, otherwise write in N/A for Not applicable.

Basically though if you prefer to wait for the SAR that is up to you of course, there is no harm in still making a start on the areas on what you do know.

Thanks Di,

Yes the account the DD payments came from is still active. I have checked my online banking and the statements don't quite go back far enough for the start of the initial loan, it does pick up some of the later DD payments but they don't specify any loan agreement numbers, they merely show exactly what I have on my paper statements.

I think like you say though, it's got to be worth a shout at popping into the Branch and seeing if they can give me any further clarification on the details.

The initial loan was taken out Nov 2001 BTW

[di30]

Re: PPI claim against Black Horse Finance - Where do I start??

Thanks Di,

Yes the account the DD payments came from is still active. I have checked my online banking and the statements don't quite go back far enough for the start of the initial loan, it does pick up some of the later DD payments but they don't specify any loan agreement numbers, they merely show exactly what I have on my paper statements.

I think like you say though, it's got to be worth a shout at popping into the Branch and seeing if they can give me any further clarification on the details.

The initial loan was taken out Nov 2001 BTW

Hiya

Not a problem, and yes do call into the branch then see what they can help with.
Shame the online banking does not go back far enough in regards of the loan account numbers, hopefully the bank will be able to track the info down for you.

Defo worth a shot.

[Turboman]

Re: PPI claim against Black Horse Finance - Where do I start??

OMG---Black Horse Finance as in title---lol--anybody got experience of what typical PPI to Total ratio is for previous Black Horse discussions?

Not one of my better observations Deller (dont let Bill know-he'll think I'm going senile)

Got a bit of time now---studying the figures now

Any idea btw why Loans 2 & 3 are such odd amounts with "pence" ?

[Turboman]

Re: PPI claim against Black Horse Finance - Where do I start??

Just studied someone else's agreement for Black Horse and they appear to be a low to middle of the road company in adding PPI

18% of cash loan added as PPI
making ratio of PPI to Total loan of 15%----quite low
apr 8.9%---reasonable

SOOOOOO--i'm still playing with your figures-but it does seem like the credit report is wrong

Can you remember if Loan 3 was a 6 year loan Deller?

[Turboman]

Re: PPI claim against Black Horse Finance - Where do I start??

Right Deller---been playing a bit----I must stress these are very very rough with some assumtions but this could be possible. I've worked by trial and error on an Amortization scheduler.

Loan 1

• £1000 @ 8% over 18 months at £68 pm
• PPI added at around 18% = £180-
• -Total Loan taken of £1,180
• After 8 payments --balance outstanding around £673
• Add (say) 2 months interest so Settlement figure would be £683-ish
• Stewart Rule of 78 calculator confirms in right parish--£670

Loan 2

• So you need £680-ish to settle + £688 in cash (credit) = £1370-ish
• Assume you now getting penalised-PPI extra now at 25% = £330
• Total Loan now needed = £1700
• Also a slight rise in apr to 9%
• So I deduce it is a 24 month loan at £77.99pm
• After 1 payment-balance outstanding around £1636
• Add 2 months interest so Settlement Figure around £1662
• Stewart Rule of 78 Calculator confirms at £1661

Loan 3

• So you need £1661-ish to settle plus cash(credit) of £2979 = £4640
• Assume PPI extra still 25% = £1160
• Total Loan now needed = £5800
• They now jack up your apr (say) to 15%
• So I deduce a 36 month loan (NOT 70) at £201.70
• After 23 payments and with missed payments (extra interest) outstanding balance around £2500
• Add 2 months interest-Settlement figure around £2580
• Stewart Rule of 78 calculator confirms in right parish of £2470

So---

• you have paid in DD £5246
• you have paid £4840 in Settlement fees
• you have paid in total £10,086
• You have reeived £4667 in cash (credits)

I'm very rusty still at moment so will appreciate others looking at my theory above

Deller---I aint going to project any refunds for you yet---theres too many unknowns---we can do that when we got the 3 Loan Agreements in our hands

Hope this helps a bit

Turbs