Unable to claim PPI??

mazimoo83

I took out two loans with Blackhorse one in 2003 and and one in 2004. Both loans had PPI on which were not explained at the time and i was told that if i did not have the PPI it was unlikely i would get the loans. I have since wrote to Blackhorse asking for the PPI back but they have advised me that at the time when i took the loans out they were not part of the Financial Ombudsman. Does anyone one if i can still claim the money back and if so how do i go about it?

andy_hunk

That's crazy just to clarify when you say PPI do you mean Payment Protection Insurance? if so then I doubt there is alot you can do as effectively you had that insurance just like when you have car insurance you pay a premium and get cover. I would say talk to citizens advice though just to be sure.

Andy

Edit: Just had a quick look into this as I was curious and apparentely you can claim back PPI if it was mis-sold yo you i.e. if they forced you to take it without there being a legal implication.

Payment Protection Insurance (PPI) is offered with nearly every type of credit and if it was mis-sold to you we can claim back every premium previuously paid, which could be thousands of pounds. There are many reasons why you may have a valid claim, when obtaining credit were you:

Self-Employed, Retired, Student or Homemaker?
Told you had to take out the PPI to get the credit?
Pressured into taking PPI?
Told that you could buy PPI from an independent provider (which can be 80% cheaper)?

If you answer yes to any of the above you may have been mis-sold and are therefore entitled to a full refund.

If you have any concern over a potential claim you can call us for a free consultation with no commitment 0800 848 88 10 or 'click' Make A Claim Now.

From Ratio Money.co.uk link: http://www.ratiomoney.co.uk/ppi/?gclid=CNGEg-yQpJQCFQ8nEAodFluvuA

mazimoo83

Thanks for replying and looking into it for me. It was payment protection Insurance. Ive read loads on it and sent a letter asking for the money back but they say that because they weren't part of the Financial Ombudsman Scheme, it wont be a matter that they will deal with. Telling me in a round about way that i wont be able to get the money back. But maybe my best bet is to go to C.A.B and see if they can help me further or if i really cant get the money back???

regularsaver1

i think they mean regulated by the financial services authority which regulated insurance since jan 05

Teza511

mazimoo83 wrote: »

I took out two loans with Blackhorse one in 2003 and and one in 2004. Both loans had PPI on which were not explained at the time and i was told that if i did not have the PPI it was unlikely i would get the loans. I have since wrote to Blackhorse asking for the PPI back but they have advised me that at the time when i took the loans out they were not part of the Financial Ombudsman. Does anyone one if i can still claim the money back and if so how do i go about it?

I have sent 2 letters to blackhorse asking for my money back as the sale person said i have to have the payment protection insurance to get the loan. The first reply was that i signed the ageement so they could not refund. the 2nd reply was we have looked into this & that i have no proof that the policy was mis sold. They if i was not happy i could contact the financial & leasing association. So I've just sent my letter of to the financial ombudsman service with copy's of every letter.

Has any one had any luck with getting money back from blackhorse ?