mis-sold PPI ?

chrispbug

Sorry if this sort of thing has been posted before but...
I took out a loan about 4 years ago from my bank HSBC. A condition of being accepted for this loan was that I HAD to take out a PPI policy of £106.37 per month. The company I work for gives me full pay for the first 6 months then 1/2 pay for the next 6 months if I'm off work ill, a fact I made known to HSBC when I took out the loan.
I've recently had to take 2 months off work and it seems to me, because of my employer's pay attitude, I can't claim on this PPI policy.
Any ideas on what to do next ?

di3004

chrispbug wrote: »

Sorry if this sort of thing has been posted before but...
I took out a loan about 4 years ago from my bank HSBC. A condition of being accepted for this loan was that I HAD to take out a PPI policy of £106.37 per month. The company I work for gives me full pay for the first 6 months then 1/2 pay for the next 6 months if I'm off work ill, a fact I made known to HSBC when I took out the loan.
I've recently had to take 2 months off work and it seems to me, because of my employer's pay attitude, I can't claim on this PPI policy.
Any ideas on what to do next ?

Hi there

I take it that the loan insurer required the details from your employer when trying to make a claim, and you have taken time off work, and for what you had time off for, does not cover you with the PPI, is that correct?

chrispbug

No. I've assumed because of my employer paying me, I can't claim on the PPI

di3004

chrispbug wrote: »

No. I've assumed because of my employer paying me, I can't claim on the PPI

Arh yes, now I got you.;)
The PPI is possibly worthless to you in this respect then, however it's up to you if you want to keep it going, depending on what else it protects you with.

You can if you feel this is worthless and/or mis sold try to reclaim on what you have paid in PPI and the interest.

Check this link here below for more info, a checklist of mis selling reasons and templates, if you require any help, give us a yell.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance