Blackhorse reclaim received response saying they require an extended eight weeks
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Foraant
Posts: 24 Forumite
Hi all
Just a bit of a background,
I called Blackhorse on the 23rd December 2018 to check whether I had any PPI on loans that I took out many years ago. The first and most relevant was taken out in 1987 as I recently found out from them. They found I had three within 87 and 91. They didn’t indicate or tell me whether or not there was PPI on any of my agreements and instead sent out a complaint form and explain to them why I was misold any of the policies attached to each loan. I had no paperwork at the time of calling.
A week later I sent back the form and gave the reasons why each were misold. The reasons were that having been self employed all my working life and not being told of the policy’s unemployment restrictions and also not being told the single premium policy would be applied to the loan and attract interest.
Before doing this I called Blackhorse again and requested a copy each credit agreement agreement they hold on file which they said ok but still fill out the form and send it back which I did.
2 weeks after sending of the form, instead of receiving credit agreements, I was sent each loans running Statements from the opening payments right up until the last. 2 do not show an indication of PPI. But the largest and earliest loan clearly stated PPI £1637 included in a total amount of £15,387 to repay back. This is on the first page of the statement.
The Final response date I was given was 18th February. But I received a letter today stating they need at least another 8 weeks to fully respond to the complaint.
It’s quite frustrating that they are not providing a final response. The reason they have provided for this responses is that they are busy and it hasn’t gone to the relevant departments yet.
I’ve mentioned to them that I’m going through hardship at the moment as I’m now disabled and require funds for a needed private operation and the money would come in very handy at the right time.
Is this common practice or is there something more to it? Would it be wise to take the complaint to the ombudsman?
Any advice or experience anyone has with dealing with Blackhorse PPI dpt is very welcome and I look forward to receiving everyone’s responses on how to best get a reasonable response in a reasonable time.
Thank you
Just a bit of a background,
I called Blackhorse on the 23rd December 2018 to check whether I had any PPI on loans that I took out many years ago. The first and most relevant was taken out in 1987 as I recently found out from them. They found I had three within 87 and 91. They didn’t indicate or tell me whether or not there was PPI on any of my agreements and instead sent out a complaint form and explain to them why I was misold any of the policies attached to each loan. I had no paperwork at the time of calling.
A week later I sent back the form and gave the reasons why each were misold. The reasons were that having been self employed all my working life and not being told of the policy’s unemployment restrictions and also not being told the single premium policy would be applied to the loan and attract interest.
Before doing this I called Blackhorse again and requested a copy each credit agreement agreement they hold on file which they said ok but still fill out the form and send it back which I did.
2 weeks after sending of the form, instead of receiving credit agreements, I was sent each loans running Statements from the opening payments right up until the last. 2 do not show an indication of PPI. But the largest and earliest loan clearly stated PPI £1637 included in a total amount of £15,387 to repay back. This is on the first page of the statement.
The Final response date I was given was 18th February. But I received a letter today stating they need at least another 8 weeks to fully respond to the complaint.
It’s quite frustrating that they are not providing a final response. The reason they have provided for this responses is that they are busy and it hasn’t gone to the relevant departments yet.
I’ve mentioned to them that I’m going through hardship at the moment as I’m now disabled and require funds for a needed private operation and the money would come in very handy at the right time.
Is this common practice or is there something more to it? Would it be wise to take the complaint to the ombudsman?
Any advice or experience anyone has with dealing with Blackhorse PPI dpt is very welcome and I look forward to receiving everyone’s responses on how to best get a reasonable response in a reasonable time.
Thank you
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Comments
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But also quite understandable. After all, many of their loans were not sold by themselves but by car dealers and brokers. Black Horse only have liability for the ones they sold themselves. They have to find information going back 30 years and then see if it was one they sold or a dealer/broker sold. That is not quick.It’s quite frustrating that they are not providing a final response.Is this common practice or is there something more to it?
Nothing more to it. You are expecting a lot for something that happened over 30 years ago.Would it be wise to take the complaint to the ombudsman?
You have the right but you will just enter a new queue and it won't speed things up. Also, you may not have access to the FOS as the sale pre-dates financial services regulation. Whilst the banks agreed to consider pre-regulation sales, most others did not.
Once they have worked out they have liability, they will deal with your complaint. If they find they dont have liability and its a car dealer or broker, they will tell you to complain to them.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
No this one is directly from them. It wasn’t car loan. In fact, the statement says for bedroom furniture and carpets0
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If it was a dealer or someone else who sold the policy, wouldn’t they answer straight away to save time?
Wouldn’t they of stated who their dealer was on the statements?0 -
If it was a dealer or someone else who sold the policy, wouldn’t they answer straight away to save time?
They have to find that out. They are not going to know until they can find the records.Wouldn’t they of stated who their dealer was on the statements?
No.
So, this could be a retailer that sold it then?In fact, the statement says for bedroom furniture and carpetsI am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
No it wasn’t a retailer. I remember it was in a Blackhorse branch in crouch end where I used to own and run a restaurant. The bank manager was in fact my customer and I took out other loans with his help. I was moving to my new home in 87 and I remember asking for funds in order to purchase furniture my wife was keen on buying nearby.
To support this there own response they provided was when they recently sent out the statements the letter said ‘I can confirm we no longer hold copies of the agreements. However we are able to provide a statement of account, a copy of which is enclosed’.0 -
What if they can’t find any record? Are they liable then and would they decide?0
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They would not be "liable" simply because there are no records, but there clearly are (very comprehensive) records or you wouldn't have received the documentation you have.What if they can’t find any record? Are they liable then and would they decide?
Incidentally, did you really complain about finance in which you actually had no PPI? How could you complain it was single premium without knowing this was actually the case?
Lucky for you, one of the loans does appear to have PPI otherwise you would certainly have had egg all over your face. Are you absolutely certain that what you think is PPI actually is PPI?
It's always a wise idea to do some research prior to actually complaining...0 -
You have misunderstood what you are doing and what the process is. You make a complaint that the PPI has been missold, you are not claiming back anything.What if they can’t find any record? Are they liable then and would they decide?
If they have no records that it was sold by them, they pass you back to whoever it was that did.
They are not obliged to keep full records, so there may only be the agreement that's left and no record of payments, in which case, they do not have to give you anything.
FSA recommends keeping data for 6 years or as ong as necessary. 30 years is way over what would be necessary because you no longer have any open credit with them. Data gets destroyed piecemeal, not all at once, so they may have records that you had a loan, but not if you paid that loan.
And if you have no records, the complaint is over.Shampoo? No thanks, I'll have real poo...0 -
What else does PPI stand for in a credit agreement apart from Payment Protection Insurance?
I really would be intrigued to know please0 -
How could I know?I really would be intrigued to know please
I don't work for a bank.
https://forums.moneysavingexpert.com/showthread.php?p=754292110
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