was PPI needed and miss-sold in my circs?

ILGPink

I'm looking for some help as I'm a little confused by PPI.

Back in 2007 I took out a Loan for a car (young and stupid learnt the hard way to save my pennies and then buy! but a whole other story!!!)

Anyhow the loan was with Halifax and whilst I sat with the lady she asked me a series of q's about my circs and I remember she typed the answers on the computer and proclaimed that they would reccomend I took PPI protection.

I took this as I was concerned with the whole how would you manage to pay if you were out of work or sick scenario she posed to me.

However looking back at the time I was living at home with parents with no other outgoings and my job gave full pay for 6months if off sick and redundancy back then was very very very unlikly (NHS Job); plus i know that if i had of lost my job ect my folks would have helped me out till i could find summat else.

I'm really at a loss if I was misssold PPI; the lady did tell me about it but never once said that I could get this elsewhere. Get the feeling to be honest she saw me coming - young naive, never had a loan b4 and didnt really understand

thanks in advance for any help and advice x

di3004

ILGPink wrote: »

I'm looking for some help as I'm a little confused by PPI.

Back in 2007 I took out a Loan for a car (young and stupid learnt the hard way to save my pennies and then buy! but a whole other story!!!)

Anyhow the loan was with Halifax and whilst I sat with the lady she asked me a series of q's about my circs and I remember she typed the answers on the computer and proclaimed that they would reccomend I took PPI protection.

I took this as I was concerned with the whole how would you manage to pay if you were out of work or sick scenario she posed to me.

However looking back at the time I was living at home with parents with no other outgoings and my job gave full pay for 6months if off sick and redundancy back then was very very very unlikly (NHS Job); plus i know that if i had of lost my job ect my folks would have helped me out till i could find summat else.

I'm really at a loss if I was misssold PPI; the lady did tell me about it but never once said that I could get this elsewhere. Get the feeling to be honest she saw me coming - young naive, never had a loan b4 and didnt really understand

thanks in advance for any help and advice x

Hi there

I assumed working for the NHS then you would have been protected anyway, and they should have discussed the policy with you to have made sure of other ways you could have paid if the worse was to happen.
I'm not sure if they would have dismissed the fact that your parents would have helped though, but still it should have still been made your choice anyway.

If you want to make a reclaim on the ppi, then you pursue the ones who set the policy up for you, you can do this by either writing a letter in your own words, you do this by requesting they refund you the ppi paid into the account and interest, give your reasons of why you were mis sold.
Write that you expect to hear of a decision by 8 weeks and confirm if you do not receive a response to your satisfaction you will therefore consider taking your complaint to the financial ombudsman service (FOS).

Or, you can complete the FOS questionnaire (not to get this confused with the FOS complaints form), but complete and send to whoever responsible, and save a copy for yourself in case you need to refer to it at some point, the said questionnaire is shown on the link below, further down the page as stage one;
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Or do both of the above.

Hope this helps, good luck.;)

dunstonh

redundancy back then was very very very unlikly (NHS Job);

Of course it was. The economy was in growth. Its a very different story in recession. We have NHS jobs going all over the place now.

never once said that I could get this elsewhere.

They dont have to. Their remit is to sell their own products. Not someone elese's

Get the feeling to be honest she saw me coming - young naive, never had a loan b4 and didnt really understand

Almost certainly. However, that doesnt make it a mis-sale.

You could have said no. They are allowed to sell it and you should expect a sales process. They have to sell it compliantly.

Anyhow the loan was with Halifax and whilst I sat with the lady she asked me a series of q's about my circs and I remember she typed the answers on the computer and proclaimed that they would reccomend I took PPI protection.

I took this as I was concerned with the whole how would you manage to pay if you were out of work or sick scenario she posed to me.

That sounds like it was done correctly as you knew it was optional.

I'm not making any judgement on your potential complaint. Just highlighting a couple of things that could work against you

ILGPink

thank you both for the help and advice. I agree that I did know that PPI was taken out but it's more the case that my job would have coverd me for 6months full pay and then 6months half pay and I feel that in the circs I may have been miss-sold as not once was this touched upon.

Thanks again