PPI Claim

Nathanvtr

Hi there,

hoping someone may be able to steer me in the right direction on the best course of action.

Previously have used PPI claims companies but of the belief I'm more than capable of doing it this time round myself.

The circumstances are in 2002 I took out a hire purchase loan without PPI with BLACKHORSE which concluded in around 2007.

In around 2012 I discovered that although my hire purchase agreement was signed refusing PPI it appears as though PPI was setup following my loan commencing but with a a third party company and it ran for the duration of my loan.

I did not sign anything authorising PPI to be setup by the 3rd party company which have since gone through the process of liquidation and now brought out by GENWORTH FINANCIAL.

I have spoken to BLACKHORSE who have maintained I never agreed to PPI and I also how a carbon copy of my hire purchase agreement confirming this.

I have spoken to GENWORTH FINANCIAL who have written back basically stating that they do hold the information of an account relating to me and can confirm that PPI had been setup however as it wasn't sold by them they are unable to comment further.

I previously read an article online somewhere which suggested that even if a company didn't originally sell the PPI they may well still be liable to remburse mis-sold PPI.

I'm questioning now whether or not I was actually the victim of a fraud following the setup of my loan. The reasons I didn't take PPI out with BLACKHORSE is because I couldn't afford the additional payments at the time which is how I know I didn't take it out elsewhere.

Do I have a claim with GENWORTH FINANCIAL or should I walk away and accept the loss?

dunstonh

I have spoken to BLACKHORSE who have maintained I never agreed to PPI and I also how a carbon copy of my hire purchase agreement confirming this.

Black Horse would only know if you bought PPI via them. Not if you arranged it via a third party.

I previously read an article online somewhere which suggested that even if a company didn't originally sell the PPI they may well still be liable to remburse mis-sold PPI.

The seller has liability unless it is a pre-regulation case and then the insurer may have liability if they were members of the ABI or GISC. Although that applies when the loan and insurance are linked. Yours is not linked.

I'm questioning now whether or not I was actually the victim of a fraud following the setup of my loan.

The limitation act would put paid to that allegation. Plus, you would need to take it up with the seller and it sounds like they no longer exist (as you would have complained to them).

Do I have a claim with GENWORTH FINANCIAL or should I walk away and accept the loss?

Genworth have no liability as they didnt sell it.

Nathanvtr

Thanks for that I will do some digging.

The PPI was commenced at the same time as my loan to run for its duration, however it was setup with the absence of my signature.

In essence what i'm saying is someone has set it up using my details however I never signed anything with the third party that has provided the cover and never discussed taking it out elsewhere when signing my BLACKHORSE agreement. The PPI is definitely linked to my loan as GENWORTH have provided a screengrab with a matching reference to my loan and I have paperwork declining PPI offered at the point of sale.

It genuinely looks as though someone has set it up without my consent.

dunstonh

however it was setup with the absence of my signature.

Signatures are not necessary.

In essence what i'm saying is someone has set it up using my details however I never signed anything with the third party that has provided the cover and never discussed taking it out elsewhere when signing my BLACKHORSE agreement.

If it was built into the loan then you would have signed it on the credit agreement. If it was standalone then no signatures are required.

The PPI is definitely linked to my loan as GENWORTH have provided a screengrab with a matching reference to my loan and I have paperwork declining PPI offered at the point of sale.

Linked as in built into the debt and not standalone?

-taff

So who did you take the HP lon out with?

Nathanvtr

-taff wrote: »

So who did you take the HP lon out with?

The hire purchase loan was with BLACKHORSE.

-taff

Only if you were sold the loan by a representative of Black Horse would you have a case. Because if you took the HP agreement out with a third party, they are the ones who are liable.

Black Horse would have been covered by the GISC so if you did take the loan out directly with them and they have agreed that you didn't ask for the PPI, they would have upheld your complaint without question.