Misselling?

Mamohau

Is this a case of misselling or misadventure (not interpreting the policy correctly)?

I took out a bank loan for £6k in 2006 and at the same time the bank asked/advised (I'm not sure now) me to have PPI. I agreed not knowing the conditions; sometime later (perhaps on here?) I discovered that the PPI doesn't cover unemployment where it could be foreseen. I had been working as a temporary administrator, ie I could foresee an end to contracts. As I'd just completed the loan forms and the bank adviser knew my employment status fully I took her on trust (stupid, I know) after all, she's the money person not me. In January this year I had a contract until April, or longer but a few weeks into it I left, having a small breakdown. Anyway, my agency hasn't so far been able to find me (and many of my fellow temps) any more work so I'm unemployed, and in a deep muddy place. I claimed on the PPI whereby I was told that this unemployment was foreseen, but actually it wasn't - I didn't know I would be leaving after a few weeks, not a few months, and I didn't know that I wouldn't get more work (I had a good record of almost solid work for 3 years).

So can I claim missold?

Thanks very much.

di3004

Mamohau wrote: »

Is this a case of misselling or misadventure (not interpreting the policy correctly)?

I took out a bank loan for £6k in 2006 and at the same time the bank asked/advised (I'm not sure now) me to have PPI. I agreed not knowing the conditions; sometime later (perhaps on here?) I discovered that the PPI doesn't cover unemployment where it could be foreseen. I had been working as a temporary administrator, ie I could foresee an end to contracts. As I'd just completed the loan forms and the bank adviser knew my employment status fully I took her on trust (stupid, I know) after all, she's the money person not me. In January this year I had a contract until April, or longer but a few weeks into it I left, having a small breakdown. Anyway, my agency hasn't so far been able to find me (and many of my fellow temps) any more work so I'm unemployed, and in a deep muddy place. I claimed on the PPI whereby I was told that this unemployment was foreseen, but actually it wasn't - I didn't know I would be leaving after a few weeks, not a few months, and I didn't know that I wouldn't get more work (I had a good record of almost solid work for 3 years).

So can I claim missold?

Thanks very much.

Hi there

I would most certainly try.

More info here and templates:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Follow the reclaiming procedures, keep on at them, the final response should give details of the Financial ombudsman service (FOS) if eligible and not satisfied with the outcome of your reclaim complaint.

Good luck and please ask for help in this matter when needed.;)