Black horse finance

sweetness26

Hi would be greatful for any advice. sorry if this has already been discussed im a new user.

Ive previously had 2 loans with BH.

Loan 1 = 2004, cash loan 2193.03 35%apr. ppi 429.17 35.9% apr charge for credit on ppi 235.75 total ppi payable 664.92


loan 2 = 2005, cash loan 750.00 44.9%apr. ppi 39.67 44.9%apr


I was a student when i took out both these loans and was basically told that i had to have the ppi.
i filled out a questionnare that stated that i was unempolyed, however was still sold ppi.

I used the template letters and had a response within a week.

Response reguarding loan 1. they said that although i refer to the financial ombudsman service black horse was not subject to this scheme when i took out the loan so the ombudsman will not take on my case. anyone no if this is true? they also said that i was given a leaflet summarising ppi and had 30 days to cancel at the time which i did not. They basically said that they are not giving me a refund. i did not realise that the ppi was optional and on the credit agreement it states the cash price for ppi, it does not say optional ppi.


loan 2. in this response they talk about the questionnaire i did which i stated i was unemployed but i was recommended cover and it clearly stated that i purchased the RECOMMENDED cover.
how do i now move forward. i do apologise for the length of this. any help appreciated.

di3004

sweetness26 wrote: »

Hi would be greatful for any advice. sorry if this has already been discussed im a new user.

Ive previously had 2 loans with BH.

Loan 1 = 2004, cash loan 2193.03 35%apr. ppi 429.17 35.9% apr charge for credit on ppi 235.75 total ppi payable 664.92


loan 2 = 2005, cash loan 750.00 44.9%apr. ppi 39.67 44.9%apr


I was a student when i took out both these loans and was basically told that i had to have the ppi.
i filled out a questionnare that stated that i was unempolyed, however was still sold ppi.

I used the template letters and had a response within a week.

Response reguarding loan 1. they said that although i refer to the financial ombudsman service black horse was not subject to this scheme when i took out the loan so the ombudsman will not take on my case. anyone no if this is true? they also said that i was given a leaflet summarising ppi and had 30 days to cancel at the time which i did not. They basically said that they are not giving me a refund. i did not realise that the ppi was optional and on the credit agreement it states the cash price for ppi, it does not say optional ppi.


loan 2. in this response they talk about the questionnaire i did which i stated i was unemployed but i was recommended cover and it clearly stated that i purchased the RECOMMENDED cover.
how do i now move forward. i do apologise for the length of this. any help appreciated.

Hello and welcome.;)

I would even though they have said the FOS will not investigate, I would contact them anyway, as some have actually had cases re-submitted, who have actually been in the same situation as you.

Explain to them what you have on your post, and ask is there anyway you can pursue this, if you can't with them, ask if you can write to the actual insurer/underwrite instead.
Some are already doing this but in your individual case give them a ring and see what they have to say.
http://www.financial-ombudsman.org.uk/contact/index.html

Going back to BH, ask them to post you the copy of the questionnaire, for your proof.;)
It does not mean they did not mis sell, its just one of their standard replies.

sweetness26

ok thanx for advice. should i send second letter to bh anyway or just contact fos?

di3004

sweetness26 wrote: »

ok thanx for advice. should i send second letter to bh anyway or just contact fos?

Your welcome.
If they did not give you a final decision you can try by writing to them again, to ask them to reconsider if you want to, or otherwise yes, contact the FOS first to make sure they can help with this, if they say no about BH, ask them about the underwriter instead.;)