Help with Black Horse PPI claim

magiciansgirl

Hi, would really appreciate some advice. My partner has a car loan with Black Horse and we want to reclaim the PPI as we believe it was mis-sold. I have several questions - forgive my ignorance:

1. Car loan arranged at the dealership. Amount of credit (PPI) £4165.84 repayment over 60 months at £87.14. Can't work out if this is this a single premium or not? APR 9.7%
2. Can we try and reclaim the charge for credit on PPI - £604.56
3. Included with the agreement is a 'Demands and Needs Statement' headed:

'Decline to recommend' which says that 'the ppi being offered to you is not suitable for your particular demands and needs' and which my partner signed. It goes on to refer to the PPI as optional (and says the insurance is 'single premium').

My partner says he was then passed at high speed to another guy who on the contrary indicated that the PPI was necessary to secure the loan and speed up the process.

SO I'm really not sure whether to state that he was initially advised against purchasing PPI and then persuaded to?
He was also on a fixed-term contract at the time so we think we have additional grounds.

Any help much appreciated,

Kind regards,

MG

di3004

magiciansgirl wrote: »

Hi, would really appreciate some advice. My partner has a car loan with Black Horse and we want to reclaim the PPI as we believe it was mis-sold. I have several questions - forgive my ignorance:

1. Car loan arranged at the dealership. Amount of credit (PPI) £4165.84 repayment over 60 months at £87.14. Can't work out if this is this a single premium or not? APR 9.7%
2. Can we try and reclaim the charge for credit on PPI - £604.56
3. Included with the agreement is a 'Demands and Needs Statement' headed:

'Decline to recommend' which says that 'the ppi being offered to you is not suitable for your particular demands and needs' and which my partner signed. It goes on to refer to the PPI as optional (and says the insurance is 'single premium').

My partner says he was then passed at high speed to another guy who on the contrary indicated that the PPI was necessary to secure the loan and speed up the process.

SO I'm really not sure whether to state that he was initially advised against purchasing PPI and then persuaded to?
He was also on a fixed-term contract at the time so we think we have additional grounds.

Any help much appreciated,

Kind regards,

MG

Hi MG

For your reasons I would give it a go.
And for being told that it was neccessary to take out the ppi to speed up the process that is mis leading.

What you do is pursue the actual company that sold and set up this policy, by either writing a letter in your own words, the first template on this site was not long ago replaced by the FOS questionnaire, but if you prefer to write to them instead to make a reclaim, then its best to in your own words.

Just write you want to request a PPI refund, plus interest.
Give your reasons for making the reclaim.
Ask they comply by 8 weeks.
Then confirm you will consider making a complaint to the FOS if you don't receive a favourable response.

Or

Complete the said questionnaire (not to confuse this with the FOS complaints form) this is nothing to do with that one, but the FOS questionnaire you need to complete is on the link posted below, further on down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You can do either of the above or both if you want to cover your ground.

Good luck with this, please keep us posted. Cheers.

magiciansgirl

Thanks very much.

Bw, MG