Blackhorse PPI Claims
Blackhorse is one of the UK’s leading vehicle finance providers working with dealerships across the UK to provide finance deals on cars, motorbikes and caravans.
If you took out vehicle finance through Blackhorse up to July 2010 it is likely that you were sold PPI or other insurance products alongside your loan.
Some of the product names Blackhorse used for this type of insurance include Payment Protection Plan, Payment Care Gold, Payment Care Silver, Payment Care Bronze, Payment Care Plus, Payment Care Select, Payment Care Foundation, Payment Care, and Payment Protection Insurance.
If you were sold PPI you might be eligible for PPI+ compensation because Blackhorse formed an unfair contractual relationship with you. You can seek redress for this even if you’ve already made a PPI claim against Blackhorse.
Plevin vs Paragon
For years we have been hearing about the mis-selling of PPI on loans, credit cards and mortgages, and the Financial Conduct Authority (FCA) recently launched a deadline of 29th August 2019 for PPI mis-selling claims to be made.
In 2014 a new type of PPI mis-selling emerged: Unfair Contractual Relationships, also known as Plevin.
What is a Plevin case?
Susan Plevin is a retired college lecturer who took legal action against Paragon Personal Finance after she had PPI added to a loan.
During her claim for mis-sold PPI, she also discovered that 71.8 percent of her PPI premium was taken as commission by the PPI provider, Paragon’s credit broker and Paragon itself. Susan Plevin argued that Paragon’s failure to disclose this commission amounted to an unfair contractual relationship and therefore she should be eligible for significant levels of compensation. The Supreme Court ruled in Plevin’s favour.
The FCA subsequently published guidance that if a lender or broker paid commission that amounted to over 50 percent of a PPI premium, this would constitute an unfair contractual relationship.