PPI on closed loan account

dancingqueen_4

I've seen the thread about cancelling PPI on active accounts but just wanted to see if anybody has had success reclaiming PPI costs on a closed account?

Basically OH took out a secured loan (doh!) to pay of ex's credit cards. Buried head in sand after making a number of payments and losing job so they took court action against him to secure a charging order.

We've now paid off the loan to get the charge lifted (it was scaring me) but apart from claiming back the unlawful returned payment fees, etc I wanted to see if there was anyway we could claim back any PPI. They told him they wouldn't pay when he lost his job and he can't recall why he had it in the first place (pre meeting me....)!

Astaroth

Why wouldnt they pay him when he lost his job?

The only way you can get it retrospectively cancelled is by proving it was mis-sold to you. If it wasnt mis-sold but (for example) he took voluntary redundancy or was out of work due to a pre-existing medical condition then there would be no grounds for a complaint - you simply werent covered for the occurances that did happen but would have been covered if he had been made redundant (rather than voluntary), similiar to if you had TPFT motor insurance then complaining they wouldnt fix your vehicle because you dont have comprehensive insurance.

dancingqueen_4

Hmmm, I think I need him to be a bit clearer about it all. Basically the job he was in at the time was permanent but then became redundant in that the company no longer needed him but the silly man decided to 'be honourable' and resign rather than have them make him redundant. Stupid I know but hey, he got a good reference.... Problem was that he then refused to sign on as unemployed as he doesn't believe in taking benefits (he was living off family income) and because of that then he had no documents to prove unemployment, etc.

I actually think he has just been stupid and will have to swallow this but I don't believe he should have taken it in the first place as he was told to.

Thanks again.

Astaroth

Why do you think he shouldnt have taken it in the first place? just dont believe it isnt value for money or were most the covered risks not applicable to him for some reason?

Certainly resignation would invalidate the claim as it is voluntary. As to not claiming benefit (I know it is after the horse has bolted but...), it is possible to (at least with my employers) to claim unemployement on our PPI cover without signing on to JSA (some people arent eligable for it for example). When my missus used to deal with PPI claims they would accept copies of job applications & responses from companies in cases where JSA wasnt there.

regularsaver1

some companies put it in their conditions that you must be say out of work for 30 days and registered for job seeking

Old_iron_balls

gotta be worth a try ?
what have you got to loose apart from a tiny bit of printer ink and a 1st class stamp