BlackHorse Complaints not upheld

richie007

I have had 3 BH complaints turned down within the last two weeks. As follows.

One loan was for £12,669.00 for goods plus £1583.59 cash price for insurance, all listed on loan agreement as cash price total £14,252.69.

Then the interest on both is listed as one amount of £3125.21. Giving a total amount of £17,377.80. The APR is 8.4%. Spread out over 58 months This loan was taken out in 2003.

The other loan was taken out in 2004. Amount borrowed £6000.00 total charge for credit £1501.80.Total payable £7501.80. The insurance is in a different column as, cash price for the insurance £1248.89, total charge for credit £290.71, total payable £1539.60 APR 8.9% spread over 60 months.

The final loan was taken out 2005. Amount borrowed £9000.00, total charge for credit was £3802.20.Total amount £12802.20. The insurance again in a separate column amount of credit £2329.59 total charge for credit £984.21, total amount payable £3313.80. Apr 15.9% over 60 months.

I have had the standard response from BH..judging by the comments on here. I had explained to BH in my original complaint in May this year, that I had already taken out a seperate policy in 2002 to cover my salary for ASU with a company called Swiss Life. I asked them also if they required any further information and the responded that they had sufficient documentation for their investigation. Any help would be appreciated as I am a little stuck as what I should do next. ps. I have sadi that I disagree with their findings, so the claims are not closed.

kittiej

Hi, I too am having trouble with BH on behalf of my DH.

I have written back to them to say I am not happy with their response and want them to reconsider ( repeating what I put in the original form and saying DH could back up co sick pay with payslips etc)

I said they haven't even offered to alter the loan by taking the PPI off - which would have been something.

I then went on to ask if their advisors were paid commission for selling these products. I also said that whilst they have said the complaint could go to FOS I also have the option to take BH to court where this question will be something I might ask.

They are hoping people will go away but you have to keep on with your complaint. Don't let them think you're going to be a pushover

magpiecottage

richie007 wrote: »

The final loan was taken out 2005. Amount borrowed £9000.00, total charge for credit was £3802.20.Total amount £12802.20. The insurance again in a separate column amount of credit £2329.59 total charge for credit £984.21, total amount payable £3313.80. Apr 15.9% over 60 months.

You can take this to FOS - BH is going to find it very difficult to persuade FOS that PPI paid by a single premium added to the loan was suitable.

richie007

Thanks Magpie..do you think the same will be said for the larger amount as well as this looks like a single premium added to the loan..thanks

biondani

BH upheld one of my complaints but rejected two others and all were single premium policies. They grouped all 3 together on the final response so I either accepted all 3 or rejected the upheld complaint. Due to the backlog at the FOS I decided to accept but I am sure they are doing this as they know most people will just accept rather than wait the 2 years or so for the FOS to look at cases. To be honest, one lot of money in the bank now will be a lot better for me than waiting 2 years and possibly losing all of the cases.

Seems as though BH are using the FOS backlog to their own advantage and it isn't right.

Ian

buff40

i made claim for mis sold ppi from blackhorse,they then said they had no record of me and i would have to provide my account number to get my account number?. eventualy after months of calls they sudenly had my records and sent me a form to complete. 8 weeks went by no acknowledgement, so i called to say they had no record of a complaint. I was able to prove i had complained and they then said they had to send forms again, just as i received form , a day later they sent letter saying they had upheld my complaints in full and 8 percent intrest and repaying over£6500 and these were loans taken in 2003 and 2004. so dont give up:D