What next ,Blackhorse reclaim....

thomas83uk

Rookie here guys,
looking for a little guidance to help me along with my ppi reclaim please.
so first off i was basically told when i got my £5000 loan some 4.5 years ago that it would greatly increase my chance of getting the loan if i took out the ppi.(i assume this is mis-selling??) im pretty sure if my memory is correct the lady said she would try and give me the loan without then told me it didn't work then tried it with the ppi and low and behold it worked.
this was my first ever time trying to get finance face to face with a company, i had had credit cards etc through the net and this was the purpose of the loan.
anyway i was asked the basic question but i wasn't asked if i couldnt pay my payments on time was there anyone else who could help pay them?is this a standard question you should be asked?
what ive done so far is filled in the PPI Reclaiming Questionnaire and sent it off to black horse who this morning have replied with a letter saying the following:

Thank you for contacting us about your complaint. i am sorry this situation has occured and i appreciate you taking the time to bring this to my attention.

My understanding of your complaint is thatyou are concerened about the way you were sold you payment protection insurance on your Black Horse loan agreement.

please find enclosed details of our complaints procedure which ecplains our commitment to resolving you complaint as quickly as possible.

it then goes on about who i should write to etc
am i right in saying i now should write a letter?
what should i put in the letter?
any help here would be great and much appreciated
thanks guys and gals
thomas83uk

di3004

thomas83uk wrote: »

Rookie here guys,
looking for a little guidance to help me along with my ppi reclaim please.
so first off i was basically told when i got my £5000 loan some 4.5 years ago that it would greatly increase my chance of getting the loan if i took out the ppi.(i assume this is mis-selling??) im pretty sure if my memory is correct the lady said she would try and give me the loan without then told me it didn't work then tried it with the ppi and low and behold it worked.
this was my first ever time trying to get finance face to face with a company, i had had credit cards etc through the net and this was the purpose of the loan.
anyway i was asked the basic question but i wasn't asked if i couldnt pay my payments on time was there anyone else who could help pay them?is this a standard question you should be asked?
what ive done so far is filled in the PPI Reclaiming Questionnaire and sent it off to black horse who this morning have replied with a letter saying the following:

Thank you for contacting us about your complaint. i am sorry this situation has occured and i appreciate you taking the time to bring this to my attention.

My understanding of your complaint is thatyou are concerened about the way you were sold you payment protection insurance on your Black Horse loan agreement.

please find enclosed details of our complaints procedure which ecplains our commitment to resolving you complaint as quickly as possible.

it then goes on about who i should write to etc
am i right in saying i now should write a letter?
what should i put in the letter?
any help here would be great and much appreciated
thanks guys and gals
thomas83uk

Hi there

what you received is a standard confirmation letter, and now they will be investigating.
So no further letter is required, the reclaim questionnaire is that of the complaint and should cover it all, if they require further information - they will let you know.

Good luck on your reclaiming.;)

thomas83uk

hi di thanks for your reply. the letter seemed to me as if i should be writing another letter to their complaints dept. this part in particular
please find enclosed details of our complaints procedure which explains our commitment to resolving you complaint as quickly as possible.
im hoping the questionnaire is all thats needed but ifi have to write another letter imjust wondering what the contents should be
thanks again

DrSqueeze

It's a standard letter, you don't need to write anything else at this stage. The leaflet is simply for information, to help people understand how complaints are dealt with.

If they need any clarification they'll write to you with specific questions.

thomas83uk

so got the knock back letter last week. does anyone know if this is a standard letter heres how it starts....
''I am writing to you today in relation to your complaint about your payment protection insurance policy.

after considering the information and documentation available to us, i have now reached a decision on your complaint. Having done so, i have not found grounds to support your allegations that the policy was mis-sold. As such, i am unable to uphold your complaint.''

Heres how it ends after her review

''as a result of this review i am satisfied that there were no issues with the sale of the ppi attached to your personal loan.

i trust that i have clearly explained the reasons for my decision. however if you should wish to contact me directly my contact details are at the top of this letter. if i do not hear from you i will close your complaint and consider it resolved.
in the event that you remain unhappy with my decision you have the right yo refer your complaint to the financial ombudsman service. any referal to FOS must be made within six months of the date of this letter. i enclose a copy of the FOS'S leaflet about the service''
sorry if this is too long.
im really bad with things like this so im looking for a little guidance.

• where do i go now?
• if i need to write a letter what should the content be?
• do i go straight to the FOS?

sorry forgot to add this. i am currently still paying my PPI and loan, and it comes off the same lump sum as my loan its not a seperate payment should it be? 2 payments -one for the loan and one for the PPI?? i would have cancelled it if i had seen i was still paying it after seeing the con that it is.
thanks for all you help you guys
thomas

thomas83uk

anyone get this letter and follow it up?

PINKLINT

Think its quite a generic fob off letter I got a very similar one last week. My next plan of action is to send a very strongly worded letter to them asking that they recosider and setting out the reasons why i think they should reconsider and give them 14 days to reply to me and then i will take it from there.

If you search my posts i got some good advice from people on here on what to say to BH in my letter.

Hope it helps:)

thomas83uk

hi guys just a small update wrote back to blackhorse telling them that i found their letter impersonal to my situation and after research on the internet i found it to be a generic letter many people have had regardless of their complaint. i also asked them to look at my complaint again and let me know it their decision was final so i could escalate it. well i never heard back from BH so filled out the forms on the FOS website, put copies of all the info i had into the envelope too and sent it away however i copied everything i sent to the FOS and sent it to BH too. well within 3 days of BH receiveing it i got another letter saying they have reviewed my situation and still find nothing wrong with their sale of PPI to me. They say that i gave them new information, which was in my original complaint, of me being told taking the PPI would greatly increase my chances of obtaining a loan from them as it had been rejected elsewhere they say however they stand by their original decision and if they don't hear from me witihin 14 days they'll close my case!!! Should i just let them know i only wrote to them this time to notify them that i have already escalted it the FOS or just leave it with the FOS?
Thanks guys and gals

thomas83uk

Hi guys its been a while but I've been sitting tight.
So i referred the above to the ombudsman and on the 26/03 i received a letter telling me that black horse want to make a ''goodwill offer, with no admission of liability, to settle my complaint.'' it goes on to outline how black horse will contact me with the precise terms of its proposal however it will be based on the general approach that the F.O takes when they decide a consumer has been mis-sold a PPI policy.
At the end of the letter it informs me that if i accept this offer i don't need to take any action and the F.O will contact Black horse to let them know within 14 days.
This part is where im lost, by offer do they mean i accept a goodwill offer even thought i have no idea how much? Black horse haven't contacted me since so i have no idea how much they are offering. I paid £2080.20 in PPI on a £7500 loan to them ''to greatly increase my chance of getting a loan''

Thanks for any help from someone who has experience in this.
cheers Thomas

-taff

It means you'll get back what you would have got if they had upheld your complaint.
You'll get what you paid, plus the interest, plus 8%

thomas83uk

Does anyone know how long it takes these companies to send you an offer after them telling the FOS that they are going to? Ive been waiting from the end of March this year to receive any correspondence from Black Horse.
cheers