Blackhorse PPI claim
You could be owed £1,000s in PPI compensation if you ever had Car Finance or a Loan with Blackhorse.
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What Is Blackhorse PPI?
Blackhorse payment protection insurance (PPI), was designed to cover the borrower for loan repayments if the borrower was unable to meet loan repayments due to unemployment or sickness and illness. The PPI was sold with as an additional product by Blackhorse for on their loans or car finance products.
Blackhorse PPI normally secured instalments for at least a year or 12 months, this gave the borrower enough time to seek alternative means for meet repaymemts, for example, returning to work.
How Was Blackhorse PPI Mis-Sold to Consumers?
Some Blackhorse PPI arrangements were sold without the buyer being aware that PPI was included onto their credit loan or car finance. In some cases Blackhorse told the borrower that their application for credit would only be approved if they take out the payment protection insurance too. This led to many borrowers being forced to take Black horse PPI to secure the credit despite the fact that they may not of ever need it.
Were You Been Mis-Sold PPI By Blackhorse ?
If any of the statements below are relevant to you at the point of sale, Blackhorse may have mis-sold you PPI:
- Were you unemployed, self-employed or retired when you were sold your PPI policy by Blackhorse?
- If you were unemployed, self-employed or retired when Blackhorse sold you, the PPI policy would have been of no benefit to you as would not have paid out.
- Were you in any way pressured into purchasing the Blackhorse PPI policy?
- A basic evaluation of your personal circumstances to decide whether PPI would benefit you should have been conducted by Blackhorse, without pressurising you.
- Did Blackhorse make you aware of any exclusions or circumstances in which you would not be eligible to make a claim?
- If you weren’t told by Blackhorse about the exclusions, or circumstances in which you couldn’t claim, you may have been mis-sold your Blackhorse PPI policy.
- Did Blackhorse explain the PPI policy exclusions, or circumstances in which the policy would not pay out,
- if the answer is no, you may have been mis-sold your Blackhorse PPI policy.
- Did you know that Blackhorse had added PPI to your agreement?
- If you didn't know PPI had been added to your credit agreement by Blackhorse, it might have been included without your knowledge or consent or you may have mistakenly opted into to purchase the PPI policy during the application process.
- Did Blackhorse explain about your cancellation rights?
- Blackhorse should have made you aware about your right to cancel your PPI policy within the cooling off period usually anywhere between 7-28 days.
- Did Blackhorse PPI policy clearly explain the total cost of the PPI policy to you at the point of sale?
- Blackhorse should have clarified each part of the costs associated with the PPI policy. Inability to do as such would be viewed as a major mis-offering factor.
- Did Blackhorse lead you to believe that purchase of the PPI policy was compulsory to your finance agreement?
- If this was the case Blackhorse should have checked if you had any pre-existing cover elsewhere or made your aware that you had to right to shop around, Blackhorse should not have just sold you another PPI policy.
- Did Blackhorse ask if you already had PPI cover elsewhere that would of covered repayments?
- Blackhorse shoud have inquired as to whether you had prior PPI cover somewhere else as this would have been adequate.
- Did Blackhorse inform you that part of your PPI premiums may have been paid as commission?
- No, under the new Plevin ruling this means that if over 50% of your PPI premiums were paid in commission to Blackhorse, you were mis-sold and so are due a PPI refund of commissions.
- Did Blackhorse check whether your age was above the upper age limit for thier PPI policy?
- If you were above this set upper age limit on the PPI policy at the time of purchase, you would not have been covered so Blackhorse should have checked this before selling you the policy.
- Did you have any pre-existing medical conditions at time you were sold your PPI policy by Blackhorse?
- If you were ever unable to work due to the pre-existing medical condition during the term of your Blackhorse PPI policy , you would not have been covered by the PPI policy.
- Was the term of your Blackhorse PPI cover shorter than the finance agreement term and did Blackhorse tell you that there would be a period of time when you would not be covered?
- If Blackhorse didn't explain that you would be unprotected for a period of time throughout the finance agreement, you have been mis-sold your Blackhorse PPI policy.
What Could You Be Owed From Blackhorse?
If your PPI complaint against Blackhorse is upheld and you manage to get a a full refund PPI from Blackhorse. This would include the total premiums paid pluse any interest charged on the PPI by Blackhorse and a compensation interest of 8% per annum on both of those combined.
How Long Do I Have To Make A PPI Claim With Blackhorse?
The Financial Conduct Authority (FAC) announced a deadline for people to claim compensation for mis-sold PPI. Your Black Horse PPI claim must be made by 29 August 2019.
There have been millions of people who have already made successful claims against banks and lenders however, there are many more still to claim. If claims are not made before the deadline, it will be too late.
How Do I Start My Blackhorse PPI Claim?
We’d like to discuss the details of your case with you, so your complaint can be lodged with Blackhorse Finance on your behalf as quickly as possible.