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Miss-sold overdraft protection.
Pujie
Posts: 2 Newbie
I've just realised that my overdraft protection doesn't cover me because I'm self employed. I was never asked the question when the policy was sold to me by Barclays. Can I claim it back on the grounds it was miss-sold?
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I have also got overdraft protection with barclays i have been paying it monthly for about 6 years now they take £0.80 per £100 that i am overdrawn and with a £1600 overdraft its quite a lot of money, i am self employed too and im sure nothing was mentioned to me either about it not covering me and as i no longer have the terms and conditions that i was given im to unsure as to wheather i can claim or not, any advise would be grateful0
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self employed are usually covered but the criteria is different to an employed person. Are you sure you are not covered or are you guessing or misreading the criteria?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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I am just going by what i have read up on the internet, how can i get a copy of the terms and conditions and whats to say they havent changed them from 6 years ago0
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I am just going by what i have read up on the internet, how can i get a copy of the terms and conditions and whats to say they havent changed them from 6 years ago
Making assumptions from the internet is never a good idea. Whilst there is a lot of useful information there is more misinformation and myth. The problem with payment protections is that there are many different types and some dont cover self employed but many do.
You can ask the provider for a copy of the terms and conditions if you dont have them. Overdraft protection plans tend to be reviewable so its only the current terms that matter.
For reference, I hate these style payment protections. When you compare the cost against real income protection, these overdraft/loan plans are very bad value and usually low quality.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Hi there
Just a suggestion, maybe you could also post this issue over at the PPI reclaiming thread, where someone may be able to help in this case, although I, myself have not come across this actual issue of overdraft mis selling, but maybe others over the reclaiming thread might have, good luck.The one and only "Dizzy Di"
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Thanks alot for the advise i will get in touch with my bank and get a copy and go from there CHEERS0
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