PPI reclaim plans for Egg and others

ford_prefect_3

Having looked at the whole PPI reclaiming issue I realise that I am in an odd position.

At the time I took out my original egg card I was both employed and self employed.

I dont see how the cover offered could have worked for me as loss of employment would have still left me with the self employed issue that your never technically unemployed until you claim benefits which you cant do for x months either.

I dont ever recall having to answer the question about having dual employment status and with the second egg card they sent me I think PPI was just chucked on automatically.

What are my options? My account with them is so old the CCA is not viewable online so I assume its a paper one and if it has the electronically ticked PPI box where do I stand?

Thanks for any advice.

beaujolais-nouveau

ford_prefect wrote: »

Having looked at the whole PPI reclaiming issue I realise that I am in an odd position.

At the time I took out my original egg card I was both employed and self employed.

I dont see how the cover offered could have worked for me as loss of employment would have still left me with the self employed issue that your never technically unemployed until you claim benefits which you cant do for x months either.

I am/was in the same position as you and am trying to gather the energy to start the reclaiming process. In 2004, after I had been made redundant for the second time in two years, I thought I'd claim on the PPI to relieve the pressure on my finances. Egg told me that I would have to shut down my limited company first and sign on the dole. (But if I had done that, I'd have let down the clients I still had and I would have been seen to have made myself "deliberately unemployed" so might not qualify for dole ever.)

ford_prefect_3

Thats how I recall it as well.

Additionally I dont think you had to shut down the company but the company had to be technically insolvent as well so triply in the soup before you liquidated it. Something like the company not able to meet its financial obligationsand going into administration.

If I recall, if you voluntarily liquidated then the PPI wouldnt pay out either, it had to be a forced administration.

di3004

Hi there

I would give it a go on reclaiming the PPI, however with some self employment they do still pay out, so if you've not got the policy I would contact the lender to request they send you a copy, then check out the terms and conds of the policy.

It may also be worthwhile requesting a SAR (Subject access Request), there is a cost of £10 postal order or cheque payment for this request, where they have up to 40 days to send all the information they hold on your account(s), if they don't have anything on data/microfiche they must return your payment with a letter to explain why they cannot provide the information.
There is a SAR template on the link below with details, and if you decide to do this, its best to post by recorded delivery, this is your proof of posting.
http://forums.moneysavingexpert.com/showthread.html?t=1475553

More info on PPI reclaiming with guidelines on the link below.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Just as long as you have an account number you can continue to reclaim.

Good luck and ask for help anytime.;)

ford_prefect_3

letter writing here we come then!

If anyone has had success under similar circs would be good to know the approach taken.

My feeling is mis sold due to unsuitability and pre ticked boxes (this was when egg first started!) but if anyone else has any other reasons please add them.

I am sure Constable Savage would have a few choice words about Egg to put in the letters!

di3004

ford_prefect wrote: »

letter writing here we come then!

If anyone has had success under similar circs would be good to know the approach taken.

My feeling is mis sold due to unsuitability and pre ticked boxes (this was when egg first started!) but if anyone else has any other reasons please add them.

I am sure Constable Savage would have a few choice words about Egg to put in the letters!

Go for it, keep a them, basically you need to keep at them until the final response, so if this fails, you can then try by writing to the actual insurer of EGG, so exhaust this avenue first until your happy with the outcome of the final decision, and take it from there.

In the SAR there should be details of the insurer/underwriter.
This is the next step if the above fails, hope this helps.:beer: