Thread: Black Horse refuse claim(say its not a matter for FOS)

Hi shirei

Mr Landy and I have four old loans with ltsb which were taken out around 2000-2003 and all paid back early a year or two later. LTSB tried to employ a similar tactic with us on a couple of these so we called the fos who said that the date the loan was taken out is immaterial, it's the mis-selling that counts.

The FOS are now investigating all of these for us. As middenmess says all they want you to do is be put off by what they say and give up - which is the last thing you must do!

Good luck!

Regards,

Landy x

Originally Posted by shirei12

Hi,
Is it true what they have told me in their response to my PPI claim below. The second page briefly says "In the absence of any documentary evidence in support of your claim,I regret to advise that we are unable to uphold your claim." At the time this was taken out jointly with OH in 2003 I was not working and was still under a Oncologist for cancer treatment.
Any help appreciated.

Thank you for your letter received by us on 10 August 2009. I am sorry that you feel the Payment Protection Policy covering your agreement was mis-sold. It is important that we are made aware of any instance where our customers feel dissatisfied and I have, therefore, investigated the issues you have raised.
Firstly, I note that you refer to the Financial Ombudsman Service. Although Black Horse Ltd is now subject to the Financial Ombudsman Scheme for General Insurance activity, this was only from 14th January 2005. As the Policy you refer to was entered into prior to this date, this will not be a matter the Financial Ombudsman can consider should you decide to contact them. Let me, however, respond to your concerns.
There have been comments in the media that single premium policies may not be suitable for some customers if they settle their agreement early and do not receive a refund of part of the single premium. Our product does provide you with a rebate of the premium providing you have not made a successful claim and received the benefit of the Policy. Therefore, we do not consider that the single premium is an issue
When you discussed the loan application and Payment Protection Insurance with a member of our staff, you would have been provided with a leaflet summarising the key benefits and exclusions of the cover. That leaflet also confirmed cover was optional.
Only after you were given the opportunity to read the summary leaflet was the agreement document produced for signature.
I have enclosed a copy of your finance agreement for your ease of reference. The agreement document signed clearly shows that Payment Protection Insurance was purchased when entering into this agreement and shows the full cost of that Policy. By signing this agreement, you confirmed that you had read, understood and accepted the terms and conditions of our agreement and wished to purchase Payment Protection as specified.
Furthermore, following our acceptance of the agreement, the full Policy terms and conditions were automatically sent to you at your home address. As well as confirming the Policy eligibility and exclusions, those terms also stated that if you were not entirely satisfied with the level of cover being provided, it could be cancelled in full and without cost by writing to us

As Middenmess points out this is a load of waffle the fos will actually take on cases prior to 1995 . They are now aware that financial institutions are using this ploy as a way to halt any potential complaint being submitted. My advice bang in a complaint to the FOS. Firstly it will cost Black Horse a £500 fee to be paid to the FOS and the FOS are getting a bit miffed at the financial institutions advising complainants what the FOS can and cannot do.

FOS complaint see this......

our complaints procedure and how to complain

My third complaint to the FOS was submitted today for a Capital One refusal.

aa

Originally Posted by shirei12

Thankyou for your replies on this. I have tody phoned fos and they have confirmed what Black Horse have said "Firstly, I note that you refer to the Financial Ombudsman Service. Although Black Horse Ltd is now subject to the Financial Ombudsman Scheme for General Insurance activity, this was only from 14th January 2005. As the Policy you refer to was entered into prior to this date, this will not be a matter the Financial Ombudsman can consider should you decide to contact them."
Oh well time to go for HFC then

Hi shirei

That's weird then because the FOS told us that our 4 ltsb loans which were taken out between 2000 and 2003 were covered by them. I would have thought that Black Horse being part of LTSB the same would have applied as most banks, I thought, were still regulated by the Financial Services Authority prior to 14th Jan 2005

I'm sure aa will be able to offer you some advice on which way to proceed.

Regards,

Landy x

Originally Posted by shirei12

Apparently its the date we took out the loan Aug 03 that was the problem. Its paid up as of May this year.
Win some lose some . I am about to go for missold PPI with HFC now on two accounts which are active. I am not sure if I should do SAR first,dont think it will provide more than I have already , I have the agreements for them. Not sure how to work out the interest though.
We must have been either stupid or desperate at the time we took the loans out the interest is criminal

Sorry, my last post crossed with your shirei - I must learn to type faster

I still find it strange that the fos said that as we phoned them and explained that our loans were taken out in 2000, 2001 and 2003 (these were all repaid early by 2004 at the latest), yet they told us they could investigate these for us. We filled out the complaint forms in the last month or so and the FOS is currently dealing with them.

Furthermore we have another two ltsb loans (still current) taken out in 2004 and the FOS is investigating these also

I sometimes wonder if the person you get on the other end of the phone at the FOS is fully up to speed with all of this.

As I said in my previous post, aa is the man to help you with this - he has successfully claimed mis-sold PPI on an account dating back to 1998 I believe.

Regards,

Landy x

Sooooooo......Start date 27/11/2000.£49.67 @24.2% =£414.79 Due
£365.12 interest accrued
On one payment??? surely this cant be right