Help please black horse ppi claim rejected

evos1

Hi

I put a claim in for mis-sold PPI in june. I got a detailed letter (about three sides of A4) expalining that the claim had been rejected, stating you had 30 days to cancel, the adviser would have explained eveything to you.

Now there may well have been a 30 day cooling off period, but from what i can remember the adviser didnt expalin things as clearly as the letter made out, and if anything implied that if it wasnt taken out then i wouldnt have got the loan.

The loan was taken out in 2007 for ten years, but i have paid it off by last year. I have noticed on the forum that Black Horse seem to have rejected a few claims, are they just rejecting most of these first time and making people go through the FOS? This is what they advised if i wanted to take it any further. I assume this is now my only avenue, but is there much success down this route. Any advice and help would be very much appreciated.

di3004

Write back and ask them to reconsider by 14 days, tell them you don't believe your complaint have been investigated properly and your reasons have not been taken into account.

Did they say if this was the final decision and enclose details of the FOS?
If so you could make the complaint now to the Financial Ombudsman Service (FOS), or give it another go first by giving them 14 days, if no joy by then, then complain to the FOS.

Good luck and keep at them, give them any further info you may have.;)

magpiecottage

evos1 wrote: »

stating you had 30 days to cancel, the adviser would have explained eveything to you.

I do not usually suggest involving senior management but on this occasion, I suggest you write to Mrs Alison Hewitt, the compliance officer, and complain that your complaint was rejected on the grounds that you did not exercise the right to cancel when her staff know, or should know, that FSA rule DISP App 3.3.6 says, "The firm should not reject a complaint because the complainant failed to exercise the right to cancel the policy."

Say that if you do not get a satisfactory response within 14 days you will go to FOS.

Because you have identified a very specific failure to comply to her, she will have to get it addressed or risk the matter being reported to the FSA by FOS and being personally held to account.

evos1

Thanks for the replies. They seemed very final and stated that as far as they were concerned the case was closed and to take it up with FOS if i didnt agree.

Magpie i dont think that was the only reason they rejected it according to the letter but it was definately one of them. Do you think it is still worth taking it up with the compliance officer? If so do you have any contact details? It seems they are just playing hardball.

If i do take it up with the FOS what is the procedure? Again thanks in advance for any help, this is very frustrating!

magpiecottage

evos1 wrote: »

i dont think that was the only reason they rejected it according to the letter but it was definately one of them. Do you think it is still worth taking it up with the compliance officer?

Maybe, maybe not - I do not know what they actually said.

If so do you have any contact details?

I would go for the registered address:

BLACK HORSE LIMITED
25 GRESHAM STREET
LONDON
EC2V 7HN

If i do take it up with the FOS what is the procedure?

Easiest is to ring them on 0800 023 4567 (from a landline or Giffgaff) or 0300 123 9 123 (if you want to use free minutes from another mobile operator). Explain that you have had a final response from Black Horse and want to make a complaint. They will fill in the form over the phone, pop it into the post, you then sign it and send it back.

Simples.

kittiej

Black Horse said this in the rejection letter my DH received so it seems to be a standard reply atm.

Interesting info magpie thanks.

src007

evos1 wrote: »

The loan was taken out in 2007 for ten years, but i have paid it off by last year. I have noticed on the forum that Black Horse seem to have rejected a few claims, are they just rejecting most of these first time and making people go through the FOS?

If you settled the loan early they charged you unfairly for the PPI. This is because the PPI makes the settlement balance much higher than it would have been without the PPI.

This makes your complaint really strong at the FOS, so you may want to go back to Blackhorse as others on here suggest however (if Blackhorse ignore you) make sure you get it to FOS within 6 months from the date they sent the last letter.

Do you know how much they charged you for the PPI? Blackhorse PPI can be crazily expensive.

magpiecottage

I suggest KittieJ and Evos 1 both send the letters I have suggested (along with anybody else who gets a similar response).

Doing this brings a possible generic failure to the compliance officer's attention. If she does nothing her career is on the line. It is an approach that would be undermined if everybody did it all the time because the genuine problems would be diluted by the frivolous and vexatious ones, which is why I would not normally advocate it but it is just possible that she is unaware of her underlings' misdemeanours.

If so, then you are doing her a favour by bringing the issue to her attention and hopefully it will be repaid.

mr_tazz

I got something similar - about 3 sides of A4 saying that I had not been coerced or forced into taking out the PPI, that the advisor had told me it was optional etc......how did they know this unless our conversation had been recorded without my consent??? :mad:

I was told at the time that I would have a better chance of obtaining the finance if I took out PPI, no mention of 30 days cancellation and we were pushed to complete the paperwork as the office was closing.

Looking back through the original forms it's obvious I don't need PPI as my employer would carry on paying me for 6 months if sick and redundancy payout would cover the loan if I lost my job!

Going to take it up with the ombudsman I think.....

ALIBOBSY

Pretty much all the banks are trying to fob people off at the first stage, was told on another forum that an advisor let slip over the phone that they have targets for the max amount of settlements per day at one of the big 3 banks.

Remember for every person that could claim only a low percentage do and for the banks if they refuse and say 10% don't bother with the FOS or court action and leave it there thats more saved. Even once they settle the banks are holding onto the money for weeks in many cases, remember the longer they keep the money the more they make on it before the finally hand it over. Definately get that claim off to the FOS.

Ali x

magpiecottage

ALIBOBSY wrote: »

Even once they settle the banks are holding onto the money for weeks in many cases, remember the longer they keep the money the more they make on it before the finally hand it over.

Probably not. They have to pay 8% p.a. interest on it. Although they lend at a higher rate the costs associated with doing so would make profitability difficult.