Black Horse PPI

bear1975

Looking for some advice on my loan that I have with black horse, after hearing of people claiming for PPI
I have been having a look through the policy paperwork and have noticed that there is a figure under other financial information for optional payment protection, I took the loan in sept 08, but was basicaly told that the loan would not got through if I did not take the insurance even though I explained to them that I get sick pay etc if I am off my work ill,
having looked at the figures I have noticed that I am paying £4212.54 for payment protection credit and another £2143.26 for credit charge giving a total of £6355.80 in insurance
The loan was for £12200 over 5 years.
I am not overly clued up on claiming (just being honest) and have looked through the claim forms but am struggling to figure out how to go about trying to claim this back or if I will even have a case.
Anyone who can help send me in the right direction I would be very gratefull
Thanks in advance

di3004

bear1975 wrote: »

Looking for some advice on my loan that I have with black horse, after hearing of people claiming for PPI
I have been having a look through the policy paperwork and have noticed that there is a figure under other financial information for optional payment protection, I took the loan in sept 08, but was basicaly told that the loan would not got through if I did not take the insurance even though I explained to them that I get sick pay etc if I am off my work ill,
having looked at the figures I have noticed that I am paying £4212.54 for payment protection credit and another £2143.26 for credit charge giving a total of £6355.80 in insurance
The loan was for £12200 over 5 years.
I am not overly clued up on claiming (just being honest) and have looked through the claim forms but am struggling to figure out how to go about trying to claim this back or if I will even have a case.
Anyone who can help send me in the right direction I would be very gratefull
Thanks in advance

Hi there

Well I think you should defo give it a go, and recently many have been successful as well with these, so now is the right time to act on this.

I think you have great reasons here, so below you will find the link to the guidelines of reclaiming, check this through, and there is also template letters as well, they have 8 weeks in full and it recommended to post by recorded delivery for your proof of posting.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck and please keep us posted and ask for help when required.;)

gerryscot

bear1975 wrote: »

Looking for some advice on my loan that I have with black horse, after hearing of people claiming for PPI
I have been having a look through the policy paperwork and have noticed that there is a figure under other financial information for optional payment protection, I took the loan in sept 08, but was basicaly told that the loan would not got through if I did not take the insurance even though I explained to them that I get sick pay etc if I am off my work ill,
having looked at the figures I have noticed that I am paying £4212.54 for payment protection credit and another £2143.26 for credit charge giving a total of £6355.80 in insurance
The loan was for £12200 over 5 years.
I am not overly clued up on claiming (just being honest) and have looked through the claim forms but am struggling to figure out how to go about trying to claim this back or if I will even have a case.
Anyone who can help send me in the right direction I would be very gratefull
Thanks in advance

Hello there bear1975,

Just wanted to give you a few words of encouragement and let you know I
was recently successful with a PPI claim with Black Horse for £2700. Got the
cheque within a few weeks, I was delighted. :j:j

So my advice is go for it, the letters are here ready for you to download which is a great help, as I wouldn’t have known what to say or where to start with the process.

Wish you the very best of luck, if I can help in any way feel free to give me a shout. :beer: :beer:

Its your money, go get it back from them.

Gerry x x

bear1975

Thanks for the encouragement and advice to get going folks,
1st letter going in the post in the morning

dorien

Go for it, I just won a claim against Lloyds/black horse finance for single premium ppi on Business Loans (went through the Ombudsmen) just waiting for the cheque to arrive, could be up to 12 weeks wait though..as they are so busy..

marshallka

dorien wrote: »

Go for it, I just won a claim against Lloyds/black horse finance for single premium ppi on Business Loans (went through the Ombudsmen) just waiting for the cheque to arrive, could be up to 12 weeks wait though..as they are so busy..

Well done to you. :T

Melaniep101

Just to give you some more encouragement, I've just had a reply from Black Horse to say that they will refund the PPI on all 3 of the loans I've had with them. I wrote to them last year but got a flat no, but thought I would give it another go using the standard template letter. I got an answer within a week of sending it off to say that I'll be refunded all premiums and 8% interest! :j

A total of £2691!

Deffo give it a go and dont give up!

Good luck

Mel

marshallka

Melaniep101 wrote: »

Just to give you some more encouragement, I've just had a reply from Black Horse to say that they will refund the PPI on all 3 of the loans I've had with them. I wrote to them last year but got a flat no, but thought I would give it another go using the standard template letter. I got an answer within a week of sending it off to say that I'll be refunded all premiums and 8% interest! :j

A total of £2691!

Deffo give it a go and dont give up!

Good luck

Mel

Brilliant Mel and thanks for posting.:T

di3004

Melaniep101 wrote: »

Just to give you some more encouragement, I've just had a reply from Black Horse to say that they will refund the PPI on all 3 of the loans I've had with them. I wrote to them last year but got a flat no, but thought I would give it another go using the standard template letter. I got an answer within a week of sending it off to say that I'll be refunded all premiums and 8% interest! :j

A total of £2691!

Deffo give it a go and dont give up!

Good luck

Mel

Well done to you MEL, so happy for you.:beer::j:T:beer:
What a lovely amount, Congratulations.
:xmassign::snow_grin:xmastree:

bear1975

bear1975 wrote: »

Looking for some advice on my loan that I have with black horse, after hearing of people claiming for PPI
I have been having a look through the policy paperwork and have noticed that there is a figure under other financial information for optional payment protection, I took the loan in sept 08, but was basicaly told that the loan would not got through if I did not take the insurance even though I explained to them that I get sick pay etc if I am off my work ill,
having looked at the figures I have noticed that I am paying £4212.54 for payment protection credit and another £2143.26 for credit charge giving a total of £6355.80 in insurance
The loan was for £12200 over 5 years.
I am not overly clued up on claiming (just being honest) and have looked through the claim forms but am struggling to figure out how to go about trying to claim this back or if I will even have a case.
Anyone who can help send me in the right direction I would be very gratefull
Thanks in advance

Hi folks,
Have recieved a letter in the post from Black Horse this morning, here is a shortened version,
"Thanks for your letter,
Before entering into this agreement we completed a demands and needs questionaire to establish wheter there was a need for ppi, we recomended that ppi was taken.
After completing the questionaire we handed over a leaflet which summerised the benifits and exclusions of the cover, this leaflet also confirmed that the cover was optional, the agreement document was produced for signature,
Taking into account the Information that you have provided and the points that are detailed above we do not accept that the policy was mis-sold"

I assume this part is a standard reply.

They included a copy of the signed document then stated in the letter that I had 30 days at the start of the agreement to cancel the policy, they have checked and I did not cancel.

It then goes on to say how there are media comments about single premium policies where customers do not recieve a rebate if they cancel their insurance, however they do provide a rebate unless you have made a claim.

This is where the letter got more interesting

They then go on to say.

" In the intrest of bringing this matter to a conclusion we are willing to cancel the policy and to apply a more favourable rebate than that which is normally offered. As a guide if the policy were to be cancelled today the rebate that we would be prepared to offer is £3209.52 which has been calculated on a pro rata basis and with effect from the date on which we recieved the initial complaint.
" If the policy is no longer required please sign and retur the slip below and we will then cancel the policy and credit the agreement with the rebate amount. The future monthly repayments will be adjusted as appropriate and we will issue a refund if the account is in credit"
"This letter is our final response, the claim may be reffered to the financial ombudsman"

Does this sound like a good response or am I still being taken for a dummy???
as usual any advice is greatly recieved

di3004

Hi there

Thanks for your update.;)

Yes your right, its all basic and standard.

Depending on how much the PPI originally is then its up to you if you want to accept this or not.
If your not happy, you can either tell them despite their decision, you still strongly believe you were mis sold, with the reasons you given, and you stand by them, and requesting they reconsider, or
ask them for another offer to consider, maybe something not far off you were expecting.

Keep at them until your satisifed with the decision, but remember its up to you, you do what you feel your happy with.

Well done by the way anyway.:D:beer:;)