Missold PPI Complaint Rejected - Next Steps?

[Cushing1967]

Hi all

I was hoping someone could give me some advice on the best course of action to take.

I recently had 2 claims for mis-sold PPI rejected by Black Horse Finance. The reason that I am making a claim that this product was mis-sold is because at the time that I took out the loan I was self employed as a contractor - this was back in 2004. I paid the loan unaware that I actually had PPI and in the times between contracts I used savings etc to pay my commitments.

Anyway, I put in a claim in June (I used a broker as I have quite a bad stammer and didn't necessarily want to have to deal with phonecalls etc) and recently found out that the claims have been rejected on the basis that Black Horse feel that the PPI was sold properly.

I have been self employed throughout the duration of the loans.

The broker is suggesting that I use the FOS but I also know that the Financial Ombudsman Service has a huge back log and I would prefer to see if there was a route that I could take that might settle things in less than the estimated year.

I have recently set up some businesses and any monies that could potentially be owed to me would be very handy. Not that I am counting on it but as self employed start ups can be tough it would be nice to have an extra safety net.

I also want to get this moving as I feel that Black Horse have not investigated the claims as the loan sign up form clearly states that I was self employed and for them to claim that there is no impropriety on their part is a joke.

I am resident in Scotland.

Thanks for reading this and for any and all advice that you can give me

Best regards

[di30]

Re: Missold PPI Complaint Rejected - Next Steps?

Hi and welcome

Have you exhausted the procedures with the business?
They should have provided you with a final decision, and if eligible to complain to the FOS/leaflet details of how to complain.

Or write to them again anyway, take your chance and ask them to reconsider, as you don't feel they have taken your complaint seriously, and to let you know by 14 days, if you've further information to give as well, then do so.

If you hear nothing by 14 days or if they do not change the decision in your favour you could try complaining to the FOS.

I am not sure however though if the business were regulated by the FSA, or GISC when you taken out the policy if not the FOS will not investigate complaints against the business, but may suggest the underwriter/insurer avenue instead.

They will check the liabilities also had when the PPI was sold to you, and these were likely to be regulated by the above.

Hope this helps for now and hopefully you will have other opinions on this shortly too, good luck.

[EXC]

Re: Missold PPI Complaint Rejected - Next Steps?

I don't think you have much choice but to go to the FOS.