blackhorse ppi

katie1

Hi all ,
I have had a letter today from Blackhorse regarding a complaint i sent them for mis selling of ppi . It state they did agree we were mi sold ppi as we had 10 days cooling off period (due to it being a sercured loan ). and they gave us full details of ppi to be paid etc......blur blur

Then they write
" There have been comments in the media about single premium polices where customers do not recieve a rebate if they settle their agreement early . It should be noted that our product does provide a rebate provided that the customer has not made a successfull claim and recieved benefit under the policy. when This agrrement was settled we did not apply a rebate of insurance as a succesfull claim had been made , however in the ibtrest of bringing this matter to a conclution, we would now be willing to offer a pro rata rebate of the insurance with effect from the date on which the agreement was settled. the rebate that we would be prepared to offer is £442.58

However as a succesfull claim had been made under the policy we will deduct the total amount that has been paid out under the policy from the refund that is due to be paid. The amount claimedunder the policy is £376.22 so taking this into account the refund due would be £ 66.36.

This is our final response howerver if you can give us additional information that may olter our decistion please send it to the adddress above. if you have no further information and the offer is not acceptable write to FOS ."

what do you think i should do as i was told before it doesnt matter if a claim had been made . The full ppi i paid on this policy was £2009.80 .

HELP AND ADVICE needed please .

maxdp

I think what they are doing here is putting you back in a position as if you had never claimed, so they are paying you back the rebate you would have got if you did not claim and taken out what you have been paid when you claimed. You cannot have it both ways I suppose really. It seems ok to me. Good Luck

roonaldo

katie1 wrote: »

Hi all ,
I have had a letter today from Blackhorse regarding a complaint i sent them for mis selling of ppi . It state they did agree we were mi sold ppi as we had 10 days cooling off period (due to it being a sercured loan ). and they gave us full details of ppi to be paid etc......blur blur

Then they write
" There have been comments in the media about single premium polices where customers do not recieve a rebate if they settle their agreement early . It should be noted that our product does provide a rebate provided that the customer has not made a successfull claim and recieved benefit under the policy. when This agrrement was settled we did not apply a rebate of insurance as a succesfull claim had been made , however in the ibtrest of bringing this matter to a conclution, we would now be willing to offer a pro rata rebate of the insurance with effect from the date on which the agreement was settled. the rebate that we would be prepared to offer is £442.58

However as a succesfull claim had been made under the policy we will deduct the total amount that has been paid out under the policy from the refund that is due to be paid. The amount claimedunder the policy is £376.22 so taking this into account the refund due would be £ 66.36.

This is our final response howerver if you can give us additional information that may olter our decistion please send it to the adddress above. if you have no further information and the offer is not acceptable write to FOS ."

what do you think i should do as i was told before it doesnt matter if a claim had been made . The full ppi i paid on this policy was £2009.80 .

HELP AND ADVICE needed please .

the thing is you have benefited from the policy, you were eligible for the PPI and the PPI served its purpose. its is usual for them to deduct any succesful claim amount from the redress due to you.

marshallka

katie1 wrote: »

Hi all ,
I have had a letter today from Blackhorse regarding a complaint i sent them for mis selling of ppi . It state they did agree we were mi sold ppi as we had 10 days cooling off period (due to it being a sercured loan ). and they gave us full details of ppi to be paid etc......blur blur

Then they write
" There have been comments in the media about single premium polices where customers do not recieve a rebate if they settle their agreement early . It should be noted that our product does provide a rebate provided that the customer has not made a successfull claim and recieved benefit under the policy. when This agrrement was settled we did not apply a rebate of insurance as a succesfull claim had been made , however in the ibtrest of bringing this matter to a conclution, we would now be willing to offer a pro rata rebate of the insurance with effect from the date on which the agreement was settled. the rebate that we would be prepared to offer is £442.58

However as a succesfull claim had been made under the policy we will deduct the total amount that has been paid out under the policy from the refund that is due to be paid. The amount claimedunder the policy is £376.22 so taking this into account the refund due would be £ 66.36.

This is our final response howerver if you can give us additional information that may olter our decistion please send it to the adddress above. if you have no further information and the offer is not acceptable write to FOS ."

what do you think i should do as i was told before it doesnt matter if a claim had been made . The full ppi i paid on this policy was £2009.80 .

HELP AND ADVICE needed please .

Hi, what they have offered if a rebate against the insurance which they obviously did not give when you settled but as you claimed on the insurance they are taking this amount off. This is not a addressing your complaint for a missale and if you are not happy then you can take this to FOS (who would still take the successful amount you claimed off any redress) BUT if you won misselling then it would be off the total amount of the redress. You would be put back into the position as if you never had the PPI with the claim amount deducted. It really is up to you.

Good luck

katie1

roonaldo wrote: »

the thing is you have benefited from the policy, you were eligible for the PPI and the PPI served its purpose. its is usual for them to deduct any succesful claim amount from the redress due to you.

yes my husband did claim1 month through the policy but if BH would have asked for previous medical historywhen selling PPI they would have known my husband wouldnt have been fully covered due to his medical conditio and they could have advised us of this. His medical condition lead him to potential exclusions.

This PPI policy was no doubt misssold regardless of weather we had a claim or not .