ppi with black horse

[katie11]

hi everyone,
could i have some help on what to do next please.
i sent a letter to black horse finance who i had a loan with.i asked them to look into me being mis-sold ppi. the reply is as follows:

I enclose for your attention a copy of the finance agreements that were submitted at the agreement inception. as well as your signature, you will see that there is an additional section entitled " PAYMENT PROTECTION PLAN "we design all of our finance agreements in this way to allow cutomers to see the true cost of the policy they have brought to protect their repayments and also to clearly indicate that a payment peotection policy is included.

whilst you ailege that our staff indicated that the payment protectin policy was a compulsory aspect of the application , i cannot see anywhere on the legally binding paperwork that suggest such malpractice took place. indeed, the signed finance agreement document includes your signature for both the loan and the optional peyment protection policy.

you were adviced at point of salse you had a 30 - day cooling off period blur blur blur


how do i reply to that ?
i did sign the protection plan but feel i was misold it . i felt that my loan would be turned down if protection was not taken out .

thanks katie11

[enaid]

Re: ppi with black horse

I think first off Katie your should get a copy of your T&C's if you have not already got them and you should have been supplied these with your loan. If you have not got them then write to the insurer and request them, making sure you quote the dates you took out your loan, as you will need the T&C's that correspond to this date.
If when you get these there is anything in there that would make a claim void then that would be your best chance of the policy being mis sold.
The fact that you feel you would have been turned down for the loan if you didn't take the PPI is a reason for mis selling but not that easy to prove IMHO. Hope this helps Enaid x

[thephoenix]

Re: ppi with black horse

Was the application done over the phone? if so, did they tell you, the loan and PPI application was successful?

[katie11]

Re: ppi with black horse

no it wasnt i rang up and asked for loan and then went in office to fill in paper work etc...

[thephoenix]

Re: ppi with black horse

When you went to branch to sign paper work, Had the loan application already been accepted? and the signing of paperwork just a formality?

OR was the telephone conversation with bank, just an inquiry into the loan. You then went to branch to complete the application, in person, and then you were informed, several days later, that the application was successful?

[katie11]

Re: ppi with black horse

the second one inquiry first and signed papers and then waited so many days cos loan was sercured against house .

[thephoenix]

Re: ppi with black horse

oh right. the reason I asked is because, as Enaid said, It can be difficult to prove miss-selling of PPI without actual evidence to support a claim.

If the Point of Sale was over the phone, then you could request a copy of the telephone conversation to back up a claim.

[katie11]

Re: ppi with black horse

i wrote to the fos about this case and today got a reply. thay say that they can't look into my complaint cos blackhorse were not members or there service when i took my loan out ..

does anyone have any ideas what i do next?

[enaid]

Re: ppi with black horse

You could go the court route but it would be down to you to prove the policy was indeed mis sold.
Have you now cancelled the PPI?

[katie11]

Re: ppi with black horse

i no longer have this loan i paid it early. but yes i can proof it was mis-sold.juat hoped i could write to someone rarher than go court i too scared for that.

[enaid]

Re: ppi with black horse

Well if you can prove it was mis sold then I would write to them with this info giving them 14 days to pay back the PPI plus all the interest. Tell them you have already complained to the FOS and if your complaint is not dealt with as soon as, you will have no alternative other than go the court route.