Claim Black Horse car finance compensation

Black Horse is a motor financing company that offers customers a way to obtain financing for purchasing their dream vehicle. It’s a popular option that allows you to receive the money you need to buy a car and set up an agreement where you pay that loan back over time.

In a growing number of cases, customers haven’t been given proper explanation or financing options from Black Horse, which has resulted in numerous defaulted payments and issues with loan repayments. For many, this falls under the category of irresponsible lending if Black Horse failed to look at your financial situation when setting up the loan. So if you received a loan with a poor credit rating

As a result of this, many Black Horse customers can seek compensation for mis-sold loans. If you believe that this includes you, our team at Claims Bible can help you seek adequate compensation.

Understanding Black Horse Car Finance Loan Claims

Just like with any car financing company, you should understand your rights when it comes to Black Horse Car Financing and its financial products. The Financial Conduct Authority (FCA) sets guidelines for lenders, including the requirement for an affordability assessment to ensure borrowers can make repayments without facing financial hardship. If you believe that your Black Horse car finance loan was mis-sold or that the lender failed to perform adequate credit checks, you may be eligible to claim compensation for the loan.

How Do I Know if I Have a Claim Against Black Horse Car Finance?

To determine if you have a valid claim against Black Horse Car Finance, you’ll want to evaluate specific factors. Our experts at Claims Bible can assist you in assessing your situation and gathering the necessary information to determine the validity of your claim. Consider the following points before proceeding with a complaint against Black Horse Car Finance.

• Did the lender conduct reasonable and proportional financial checks to ensure your ability to repay the loan sustainably?
• Were you required to provide evidence of your financial situation during the loan application process?
• Were you adequately informed about the continuous payment authority and the deductions that would be made from your account?
• Did you face difficulties repaying the loan, leading to extensions or the need to borrow from other sources?
• Did the lender engage a debt collection agency without discussing repayment plans with you?
• Were you provided with clear warnings about the consequences of non-payment in the lender’s advertising?
• Were there instances where the lender should have realised that the loan was placing you under an excessive financial burden?
• Do you believe the lender acted unreasonably or unfairly?
• Did you take out another loan to repay the original loan due to financial difficulties?

How to Make a Claim Against Black Horse Car Financing

If you believe you have a valid claim against Black Horse Car Financing, you can initiate the claims process by directly contacting them through email, telephone, or letters. However, if you are dissatisfied with their response or feel that the offered resolution is insufficient, you have the option to escalate the matter to the Financial Ombudsman Service (FOS)

Time Limit for Making a Claim Against Black Horse Car Financing

You have up to three years from the date of knowledge to make a claim against Black Horse Car Financing. The date of knowledge refers to the moment when you first became aware that you may have a claim against the lender.

Compensation for Mis-Sold Black Horse Car Finance Loans

If your claim against Black Horse Car Financing is successful, you may be entitled to compensation for the mis-sold loan. At Claims Bible, our team works diligently to ensure that you receive a fair refund, including the reimbursement of all charges and interest on the loan. The exact amount of compensation will vary based on factors such as the loan size, term length, and the nature of the complaints made. Compensation can range from hundreds to thousands of pounds. You may be eligible for the following types of compensation:

• Difference between the quoted interest rate and the rate that should have been applied.
• Compensation for mis-selling.
• Reimbursement of any excess charges.
• Refund for any potential savings that could have been made with a more affordable credit agreement elsewhere.

Choose Claims Bible for Your Black Horse Car Finance Loan Claim

Seeking compensation from your Black Horse car finance lender can be a complex and stressful process. Fortunately, our professionals at Claims Bible specialise in handling mis-selling claims, and our experienced team is here to assist you. To get started, simply fill out the form here