central trust & Black Horse finance

[leslieb]

Hi all,

I have sent off letters to both of these companies regarding the mis-selling of single payment protection insurance policies. In total there were three loans all of which were paid off well before there settlement date. All have now responded to my initial complaints with a resounding no! stating that these were not mis-sold this was after a first complaint letter. As I'm aware that single premium policies have now been banned is this just a delaying tactic on their part or is it wort pursuing?

Many thanks for your help with this

regards

leslieb

[Amethyst]

Re: central trust & Black Horse finance

What are your reasons given for believing the policies were missold ?

Companies tend to say no on first letter then roll over quite quick on second....if they still say no after 2nd you can go to the FOS.

[leslieb]

Re: central trust & Black Horse finance

Hi

Thank you for your response.

I believe that they were missold because i was not aware of the true cost of these policies nor was I aware that I could have got a stand alone policy at a far cheaper rate. On one of the loans the amount for the ppi was as much as the original loan amount. The central trust ppi was for five years however, the loan was over 25 years I was not aware that if I'd continued with the loan that I would need to purchase more insurance which intotal would have brought the insurance almost (75%) up to the loan amount. Looking back at all of these policies the amounts seem to be an awful lot of cash.

Many thanks for your help

[pinknico]

Re: central trust & Black Horse finance

Write the companies a second letter saying you don't agree with their findings, repeat why you believe you were mis sold and ask them to send their final response so that you can then proceed to the FOS if they do not reconsider.

What year did you take out these loans?

[leslieb]

Re: central trust & Black Horse finance

Hi

thanks I will do that. They were taken out between 2005 and 2007

best wishes

Leslieb

[leslieb]

Re: central trust & Black Horse finance

Hi All

Black Horse have agreed to refund the insurance payments plus 8% statutory interest as a goodwill gesture, just in time for Christmas. Central Trust are being more difficult but i'll persevere. Many thanks for all your help.

best wishes

Leslie

[pinknico]

Re: central trust & Black Horse finance

Brilliant news Leslie and don't give up with Central Trust.