Black Horse PPI Claim

Loan insurance has been sold widely throughout the UK to customers taking out personal loans. Often referred to as sickness, accident and unemployment cover; payment protection insurance or simply PPI the insurances aims to cover the borrower if they involuntarily cannot work and keep up with debt repayments. In essence this type of cover is not bad, but it is not suitable for everyone.

Black Horse PPI Claims have risen significantly in the last five years. The complaints are part of a wider increase of PPI complaints across the financial sector as lenders are accused, in increasing numbers, of mis-selling payment protection cover. It is estimated that in excess of 1.5 million PPI complaints have been submitted since 2005 showing an undeniable issue with the way many lenders approached the selling of the insurance.

Many Black Horse PPI claims and complaints against other lenders centre on the fact customers have been sold the cover despite the fact something about their circumstances may make them ineligible to use the policy. Some examples of this are below:

The customer was over 65 or under 18
Many payment protection insurance policies do not cover customers below 18 or above 65. This is, in part, due to the fact customers in these age ranges are considered to be of a higher insurance risk.
The customer had a pre-existing medical condition
Most payment protection policies do not cover pre-existing medical conditions. This means if a customer had a pre-existing condition and it worsened they would be unable to use their cover. If you suffered from a pre-existing medical condition this may have made you unsuitable for the cover.
The customer was unemployed, in full time education or retired
Payment protection insurance covers the customer for loss of employment. If you were not employed when you were sold the policy you may be paying for something you have no use for.

It is difficult to pinpoint why the mis-selling of PPI became such a widespread issue, but The FSA’s investigation highlighted many instances where lenders had failed to put in place accurate processes to protect customers from mis-sale. Many critics have also pointed to the high rates of commission offered by many lenders to sales staff which, in some cases, led to the use of high-pressure sales techniques and underhanded practices. Whatever the reason, the undeniable fact is that, for many years, lenders made huge profits from the sale of payment protection cover – in fact, it was often more profitable than the interest from the loans to which it was attached.

If you think you may have been mis-sold a payment protection insurance policy which was unsuitable for your needs you could start making your claim today by calling 0207 471 2000. Making a complaint will not affect your credit rating or your relationship with your bank and you could really be entitled to thousands of pounds in compensation. So far, we have helped more than 60,000 customers and recovered in excess of £50 million.

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Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273

Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.

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* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.