BH - Confused?

louisemay08

I'm a lurker and have been reading these posts for a while now.
Anyway, during 2004 I took out 2 personal unsecured loans for £5k. One with Co-op and the other with BH. This was over the phone.
I only took the loans out as 1. I was getting married and 2. I needed a car!

My husband is an accountant, but these loans were not in joint names, or joint accounts (We were only engaged at the time!) and the onus was on me 'to get it right'. I have never missed any payments in my life and my credit rating is excellent.

Anyway, when the paper work came, I noticed that PPI had been pre-filled with no option to cancel. This applied to both loans. I wondered what this was but thought it was compulsary. I never had a loan before.
I accepted the monthly charges and that was that.

Anyway, when it came to light that PPI was mis-sold, I realised that I was definately one of those customers. I had never been sold it, PPI was automatically added.

The PPI was added as a single premium on top of the loan and where I was paying interest at same rate as the loan.

I requested documentation from both firms (using letter on MSE website), which I got and then complained. Co-op upheld my complaint in less than a month and I got almost £2k back.:T

But BH have sent one of their famous fob off letters, full of 'would haves' which I was annoyed about. Because they are making assumptions which in my view is wrong, esp at a time when PPI was known for being mis-sold. Saying I signed the agreement etc.

Anyway, writing a letter of dispute, I notice 2 things about the docs that BH sent me 2 months ago to prove I had known about the insurance...

1. The terms and conditions , do not relate to my loan...i.e. I noticed in the t's and c's that it goes on about optional and how the payments will be single payments paid monthly...
It also mentions about Lloyd banking group, but doing research, I notice that they did not form this group until 2009...
So where are the original t's and c's?

2. The policy document say cover was provided by Lloyds TSB General Insurance which is a GISC member...but again, according to some, at the time I took out the insurance, BH was not a member??

I'm really confused, do I mention this or will I end up shooting myself in the foot?

I really didnt need the cover as I worked for British Airways at the time and got excellent redundancy, death in service and sick pay benefits. I had never been unemployed...and my credit rating was excellent. I would have said no if asked.

I dont know where to go...the loan was taken out in May 2004.

di3004

Hi there

First of all well done on your success!:beer:

Before the FSA taken over, some companies were optionally registered with GISC, it was not compulsory.
It seems that BH was not then?

I am not sure if the FOS will investigate the complaint if this is the case, as they would have had to been regulated by the above, although BH could have still have upheld, it seems they didn't do so because they assume you cannot take this any further.

So you could either write back and ask them to reconsider, tell them your not happy with being rejected with genuine mis selling reasons, and point them out again, and tell them as a valued customer of BH surely they could consider your complaint with your reasons, ask them to get back by 14 days, if they don't or do not change the decision, tell them as well you will still consider further action on this account.

If they don't change the decision in your favour, or if you hear nothing by 14 days, you can still contact the FOS, explain your situation, they may possibly suggest the underwriter/insurer direction of the policy, as these would highly likely to be regulated.

Give it a go, good luck.