The year 2018 was a pivotal moment in one of the largest financial mis-selling scandals in UK history. With the final deadline for Payment Protection Insurance (PPI) claims looming, thousands of consumers scrambled to check their old credit agreements and loans. For customers of Black Horse, a major player in motor finance, this period was filled with uncertainty, paperwork, and for many, eventual triumph. The Black Horse Ppi Success Stories 2018 became a source of hope for those who felt they had been wronged, proving that it was possible to reclaim money that was rightfully theirs. This was the year when ordinary people took on a financial giant and, in many cases, won.
The Great PPI Rush of 2018
To truly appreciate the success stories of 2018, it’s essential to understand the climate of the time. The Financial Conduct Authority (FCA) had set a firm deadline of August 29, 2019, for all PPI claims to be submitted. This announcement, coupled with a high-profile advertising campaign featuring Arnold Schwarzenegger, created an unprecedented surge in claims. People were digging through old filing cabinets and contacting lenders about agreements that were years, or even decades, old.
Black Horse, as part of the Lloyds Banking Group, was at the center of this storm. They had sold countless PPI policies alongside their car loans and other finance products. The insurance was often presented as a necessary safety net, but the reality was far more complex. Many policies were mis-sold to individuals who would never have been able to claim on them, were pressured into buying them, or were never even told they had them in the first place. The year 2018 was the last full year for people to get their claims in order, and the pressure was on.
Real-Life Black Horse PPI Success Stories from 2018
While every case was unique, the successful claims against Black Horse in 2018 often shared common themes of persistence and discovery. These stories are not just about financial windfalls; they are about achieving justice.
Case Study 1: The Compulsory Add-On
David, a teacher from Birmingham, had taken out a car loan with Black Horse back in 2009. He remembered the salesperson being very insistent about an insurance policy that would cover his payments if he fell ill. “I was told it was part of the standard package, and it would be foolish not to take it,” David recalled. For years, he paid it without a second thought.
After seeing the FCA adverts in 2018, he decided to investigate. He no longer had the original paperwork, but he remembered the loan details. He contacted Black Horse to start the claims process. Initially, his claim was met with resistance, stating that he had willingly signed the agreement. Undeterred, David explained that he was a full-time, tenured teacher with a comprehensive sick pay scheme from his employer, making the PPI policy largely redundant for him. He argued he was never asked about his employment benefits and was led to believe the policy was mandatory. After an eight-week wait, Black Horse agreed and offered him a settlement of £2,800, which included the premiums paid plus interest.
Case Study 2: A Win Through the ‘Plevin’ Rule
Maria, a nurse from Liverpool, had her PPI claim rejected by Black Horse in late 2017. The bank argued that there was no evidence of a pressured sale and that she had signed the documents. Disheartened, she almost gave up. However, in early 2018, she read about the ‘Plevin’ ruling on a consumer advice forum. This legal precedent established that if an undisclosed commission on a PPI policy made up more than 50% of the premium, the policy was sold unfairly. The customer was then entitled to a refund of the commission over that 50% threshold, plus interest.
This was a game-changer. It didn’t matter if the policy was suitable or if the sale was pressured; the claim was based purely on the hidden, excessive commission. Maria decided to try again, this time escalating her case directly to the Financial Ombudsman Service (FOS) and citing the Plevin ruling. The FOS investigated on her behalf and found that the commission on her Black Horse PPI policy was a staggering 70%. Several months later, the FOS ruled in her favor. Black Horse was instructed to pay her back the excess commission and interest, resulting in a payment of over £1,500. For Maria, this was one of the most satisfying black horse ppi success stories 2018 because it relied on a legal technicality that the banks couldn’t argue with.
The Keys to Winning a Claim Against Black Horse
What did successful claimants in 2018 have in common? While luck played a part, a few key strategies consistently proved effective in securing a payout from Black Horse.
- Identifying the Mis-Selling: The strongest claims came from those who could clearly articulate why they were mis-sold. Common winning arguments included:
- Being told the PPI was compulsory to get the loan.
- The salesperson adding it without a clear explanation.
- Having a pre-existing medical condition that was excluded by the policy.
- Being self-employed or a contract worker, which often made claiming impossible.
- Leveraging the Plevin Ruling: As Maria’s story shows, the Plevin rule was a powerful tool. It opened the door for millions of people who couldn’t prove they were pressured but had unknowingly paid a huge hidden fee.
- Persistence is Crucial: Banks initially rejected a high percentage of claims. The most successful claimants were those who didn’t take “no” for an answer and were prepared to escalate their case.
- The Power of the Financial Ombudsman Service (FOS): The FOS was the free, independent body that claimants could turn to if Black Horse rejected their claim or didn’t respond within eight weeks. In 2018, the FOS was overturning a significant number of the banks’ decisions in favor of the consumer.
What Happened When Black Horse Rejected a Claim?
Receiving a rejection letter from Black Horse was a common experience for claimants in 2018. However, this was often just the first step in the process, not the end of the road. The next, and most critical, move was to escalate the complaint to the Financial Ombudsman Service.
The FOS would act as an impartial referee. They would request all the evidence from both the claimant and Black Horse and make a judgment based on the rules and common industry practices at the time of the sale. Their decision was binding on Black Horse. Many of the celebrated black horse ppi success stories 2018 were born from FOS interventions, where an initial rejection from the bank was completely overturned, leading to a full payout.
A symbolic image of a signed document from the Financial Ombudsman Service ruling in favor of a consumer against a bank in 2018
Frequently Asked Questions About 2018 PPI Claims
How long did a Black Horse PPI claim take in 2018?
The timeframe varied significantly. If Black Horse agreed to the claim immediately, it could be settled within 8-12 weeks. However, if the case was escalated to the Financial Ombudsman Service, it could easily take over a year to reach a resolution due to the immense backlog of cases they were handling.
Did I need the original paperwork to make a claim?
No. While having the original loan agreement and account numbers was helpful, it was not a requirement. Claimants could still proceed by providing as much information as they could remember, such as the approximate date of the loan, their address at the time, and the type of finance taken out.
What exactly was the ‘Plevin’ rule for PPI?
The Plevin rule stemmed from a 2014 Supreme Court case. It established that a PPI policy was mis-sold if the customer was not informed about the large amount of commission included in their premium. If the commission was over 50% of the cost, the lender had to refund the difference.
Was Black Horse part of Lloyds Banking Group for PPI claims?
Yes. Black Horse is a subsidiary of Lloyds Banking Group. The group set aside billions of pounds to handle PPI claims across all its brands, including Lloyds Bank, Halifax, Bank of Scotland, and Black Horse.
What was the final deadline for all PPI claims?
The final deadline for submitting a new PPI complaint to a lender was August 29, 2019. This deadline has now passed, and it is no longer possible to make a new claim except in very limited and exceptional circumstances.
The Enduring Legacy of the 2018 Claims
The year 2018 was more than just a period of financial reclamation; it was a testament to consumer power. The wave of successful claims against major institutions like Black Horse served as a powerful reminder that individuals have recourse against unfair financial practices. The stories of ordinary people who took the time to check their old agreements, fill out the forms, and challenge rejections created a ripple effect, encouraging countless others to do the same before the 2019 deadline. The black horse ppi success stories 2018 remain a significant chapter in UK consumer history, highlighting a moment when the scales of financial justice tipped back, however slightly, in favor of the customer.
