Blackhorse Finance - PLEASE HELP!!

kaykar2003 · 21st November 2007, 22:13

Hello!
I really hope someone will be able to help!!

I sent the first letter to Blackhorse Finance last week to claim back my PPI payments, as I believe I was mis sold the policy. When taking out a loan 3 years ago we were told that PPI was a requirement of us being accepted for the loan.
I have received a letter from Blackhorse today, stating that we signed the agreement (they enclosed copies) etc etc. They state we were not mis sold and that unless we can give documentary evidence, they consider the matter closed. (thats the letter in a nut shell anyway!!).

What should I do now?!! They seem to have me in a bit of a corner, as I can not give any documentation to support my arguement! I explained to them when taking out the loan that my husband had a good level of cover through work...and she just kept repeating that unless we took out the PPI we would not be able to get the loan!

Not really sure where to go now!! Can someone help?

Karen x

Jaynekul · 22nd November 2007, 10:19

I am in exactly the same position. I have written back telling them that I have reported them to the FOS. Im not sure your loan is governed by them but it is certainly worth you writing back to BH telling them you are not satisfied and are intending to take the matter further. They try the fob off with everyone

ChloeJane · 22nd November 2007, 10:48

Hi there,

Mis sold PPI by Blackhorse is an issue and I fought sucessfully to get mine back.

Under the FSA there is a legal responsability to ensure that what is being sold is to a persons needs. For example, when you buy a car on finance by law the FSA has a series of questions that must be asked so you are not mis sold insurance or cover not needed.

The same applies with Blackhorse. PPI was never a term of the Loan unless stated and is then a conditional loan and you would have grounds or recourse for unfair contract terms.

So....you need to write Blackhorse and be demanding. A letter must state that it was sold as conditional to the loan and mis sold. State what cover was available from your partners work, i.e sick pay etc and that you were at no time given full particulars of the PPI and told it was a condition of the loan not an option nor offered as part of the FSA terms. Give them 14 days to reply.

Once you receive a full written response, you can then begin the process like claiming bank charges, with a letter before action. Blackhorse know PPI was mis sold to millions! So hold your ground. If you can't find a template to send to Blackhorse to get you started, post back!

CJ

kaykar2003 · 23rd November 2007, 11:07

Thank you so much for your replies.
When I opened the letter from Blackhorse it seemed pretty final, but reading other peoples posts it seems that the letter is fairly standard!
So...today I will write another letter and see what happens!
Will keep you updated! Thanks again!!
Karen x

ChloeJane · 23rd November 2007, 11:11

Hi there,

I just posted on this subject as I did get back my PPI.

The link to what I wrote is here

http://www.consumeractiongroup.co.uk...-sold-ppi.html

if you need help with the letter, post back.

CJ

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