Had reply-no luck where next

tommy44

Hi everyone

I have today received a reply back from Black Horse. They state that having investigated the claims made, (however they are addressing me as somebody acting on behalf of the client)(me)???.

They first note that I refer to the FOS. Although Black Horse Ltd is now subject to the FOS for General Insurance activity, this was only from 14 Jan 2005. As my policy was entered into prior to that date, April 2004, my complaint will not be a matter for the FOS to consider should I decide to contact them.

It continues, that as my agreement is secured by way of a mortgage over my property, (secured loan), an advance copy of the agreement document was sent to their client (me), that showed the amount borrowed, the interest payable together with the cost of optional PP policy they had elected to purchase. With this they said that they sent a leaflet and gave us a cooling off period of 10 days so that we could seek independent advice on the implications of entering into this agreement.

We obviously signed and sent it off with our signature. By doing so they claim that we understood and accepted the conditions of the agreement and continued with the PPI as stated on the agreement document. As well as confirming the policy eligibility and exclusions, it could be cancelled in full within 30 days of the agreement. Having checked their records there was no letter from us saying that we wished to cancel.

They then end the letter by saying in the absence of any documentary evidence in support of your clients claim, (no idea why they keep saying this) that they regret that they are unable to uphold our claim that the PPI was mis-sold.

So, should I call it quits. Or send the 2nd letter off, as although they can say all this and it be true, I still don't ever remember being told that the policy was only for 5 yrs and that I would have to pay for it for the full 300 months of the loan.

Any and all advice very much appreciated.

Thank you in advance.

petermb_2

tommy44 wrote: »

Hi everyone

I have today received a reply back from Black Horse. They state that having investigated the claims made, (however they are addressing me as somebody acting on behalf of the client)(me)???.

They first note that I refer to the FOS. Although Black Horse Ltd is now subject to the FOS for General Insurance activity, this was only from 14 Jan 2005. As my policy was entered into prior to that date, April 2004, my complaint will not be a matter for the FOS to consider should I decide to contact them.

It continues, that as my agreement is secured by way of a mortgage over my property, (secured loan), an advance copy of the agreement document was sent to their client (me), that showed the amount borrowed, the interest payable together with the cost of optional PP policy they had elected to purchase. With this they said that they sent a leaflet and gave us a cooling off period of 10 days so that we could seek independent advice on the implications of entering into this agreement.

We obviously signed and sent it off with our signature. By doing so they claim that we understood and accepted the conditions of the agreement and continued with the PPI as stated on the agreement document. As well as confirming the policy eligibility and exclusions, it could be cancelled in full within 30 days of the agreement. Having checked their records there was no letter from us saying that we wished to cancel.

They then end the letter by saying in the absence of any documentary evidence in support of your clients claim, (no idea why they keep saying this) that they regret that they are unable to uphold our claim that the PPI was mis-sold.

So, should I call it quits. Or send the 2nd letter off, as although they can say all this and it be true, I still don't ever remember being told that the policy was only for 5 yrs and that I would have to pay for it for the full 300 months of the loan.

Any and all advice very much appreciated.

Thank you in advance.

black horse are lovely people arent they?
To advise i need the following info
I have the start date. April 04
How much did you borrow?
How much was the PPI?
Did you use a broker or car deealer to get the loan?

tommy44

Hi Peter

Here's the info you have requested regarding a loan I took out 4 years ago, via Norton finance. The loan was secure and for the sum of £15.000 for 300 months. The agreement was signed on the 30.03.04, (not April as first thought).

The interest per month was 0.759% APR 9.5
monthly payment 126.99. Over 300 months

Along with the loan I was asked if I would like protection, which I obviously must have agreed to. This amount was for £2550.00.

Interest per month 0.759% APR 9.5%
monthly repayment 21.59. Over 300 months.

Combined monthly payment of £148.58. This amount has increased twice since 2004 and I am now paying 170.44 per month.

I am not sure if I dealt with Norton Finance directly, or they gave me a contact number at Black Horse. But I made my initial enquiries to Norton Finance, who said that we could get the best deal with Black Horse. My other half was also on Mat leave at the time, and I think I told them that too.

Can you help.

Regards

petermb_2

tommy44 wrote: »

Hi Peter

Here's the info you have requested regarding a loan I took out 4 years ago, via Norton finance. The loan was secure and for the sum of £15.000 for 300 months. The agreement was signed on the 30.03.04, (not April as first thought).

The interest per month was 0.759% APR 9.5
monthly payment 126.99. Over 300 months

Along with the loan I was asked if I would like protection, which I obviously must have agreed to. This amount was for £2550.00.

Interest per month 0.759% APR 9.5%
monthly repayment 21.59. Over 300 months.

Combined monthly payment of £148.58. This amount has increased twice since 2004 and I am now paying 170.44 per month.

I am not sure if I dealt with Norton Finance directly, or they gave me a contact number at Black Horse. But I made my initial enquiries to Norton Finance, who said that we could get the best deal with Black Horse. My other half was also on Mat leave at the time, and I think I told them that too.

Can you help.

Regards

Yes free help is available.

tommy44

By Whom Peter?

petermb_2

tommy44 wrote: »

By Whom Peter?

Have sent you a PM with details.

tommy44

Thanks Peter. Got your e-mail. Will reply.

Thanks