Help with response from Black Horse please

hullstorage

Hi all,

I have had a response from a letter to Black Horse requested to pay back my PPI as at the time of the loan i was told that i would probably be unable to get the loan without PPI.

At the time the loan was taken out i was in quite a desprate position and agreed to take out the PPI.

I took the loan out back in December 2003 and the insurance cost 1036.80 which was broken down to 48 payments at 21.60 + 17.9%.

Here is there response in brief:

Firstly, I note that you refer to the Financial Ombudsman Service. Although Black Horse Ltd is now subject to the Financial Ombudsman Scheme for General Insurance activity, this was only from 14th Janurary 2005. As the Policy you refer to was entered into prior to this date, this will not be a matter the Financial Ombudsman can consider should you decide to contact them, Let me know, however, respond to your concerns.

When you attended our local office and discussed your application and Payment Protection Insurance with a member of staff, you would have been provided with a leaflet summarising the key benefits and exclusions of the cover. The leaflet also confirmed cover was optional.

Only after you were given the opportunity to read the summary leaflet was the agreement document produced for your signature.
( this was untrue )

And basically continues to say that i have signed for the PPI and that this could have been cancelled etc.etc..

Could somebody tell me where i stand with this.

Thanks all

Simon

marshallka

What reasons did you state for misselling? You say "you probably" would not have been able to take the loan without the insurance, is this what you were told? Did they make you feel like without the PPI you would not get it? Just need to know what you wrote to them.

As regard BH saying about not being regulated at the time of the sale then I do know lots have won just recently and FOS is looking at SOME complaints against BH from before 2005 so I would always give it a go. If you have the opportunity to get back to BH now (ie not had final response) then I would now write back and reiterate your complaint again and say that you will now (after their final response) take this matter further with the Ombudsman.

hullstorage

Yes i was told by them "if i did not take out the PPI this would probably effect my chances of taking out the loan" as i stated i did not need the PPI.

My partner was present at the time and witnessed this.

hullstorage

Yes i was told by them "if i did not take out the PPI this would probably effect my chances of taking out the loan" as i stated i did not need the PPI.

My partner was present at the time and witnessed this.

marshallka

hullstorage wrote: »

Yes i was told by them "if i did not take out the PPI this would probably effect my chances of taking out the loan" as i stated i did not need the PPI.

My partner was present at the time and witnessed this.

Then its entirely up to you whether to carry the complaint on or not. I would if this was definately sold as compulsory. You need to ask for a final response and then get onto FOS.
Good luck

hullstorage

thanks

i will give it a go!

di3004

hullstorage wrote: »

thanks

i will give it a go!

Good luck.;)