black horse ppi

caspurr

Hi guys nice to meet you all and i hope some one can help.
I took out a joint loan in 2004 to clear all debts and took out Payment protection cover with black horse,my husband went in to hospital in feb a for an operation and tried to claim on PPI and was told couldn't as he was now self employed,they were made aware of this 2 years prior and asked if this would make a difference,we were told no ,there fore asked to cancel insurance.I was put through to the insurance company who is different to black horse, this made me re check our paper work and talking to the insurance company they told this would only reduce our monthly payments by £60 as it was set up as a single payment loan where they pay out the full loan amount and interest to black horse. theycharge interest over the 10 years term and that we would still have to pay £60 a month due to interset to the cover loan,so we are paying basicallty for nothing.I have looked at the paper work and through our lack of knowledge we thought the amount calculated as what we would pay not that is was another loan on top of the one we signed for and we could cancel anytime.we were not explained this fully.I understand this is through not reading the small print but can anyone helps us as to get payment protection elsewhere it can cost us less than £20 n0t £120 a month and my husband is not even covered.i would be grateful for any assistance as they dont seem to helpful and i'm drowning.Thank you

marshallka

caspurr wrote: »

Hi guys nice to meet you all and i hope some one can help.
I took out a joint loan in 2004 to clear all debts and took out Payment protection cover with black horse,my husband went in to hospital in feb a for an operation and tried to claim on PPI and was told couldn't as he was now self employed,they were made aware of this 2 years prior and asked if this would make a difference,we were told no ,there fore asked to cancel insurance.I was put through to the insurance company who is different to black horse, this made me re check our paper work and talking to the insurance company they told this would only reduce our monthly payments by £60 as it was set up as a single payment loan where they pay out the full loan amount and interest to black horse. theycharge interest over the 10 years term and that we would still have to pay £60 a month due to interset to the cover loan,so we are paying basicallty for nothing.I have looked at the paper work and through our lack of knowledge we thought the amount calculated as what we would pay not that is was another loan on top of the one we signed for and we could cancel anytime.we were not explained this fully.I understand this is through not reading the small print but can anyone helps us as to get payment protection elsewhere it can cost us less than £20 n0t £120 a month and my husband is not even covered.i would be grateful for any assistance as they dont seem to helpful and i'm drowning.Thank you

Please post on the PPI reclaiming discussion thread and there will be lots of advice for you on there.