HELP reclaiming ppi

STANTHEGANDER

I just speak gobbledegook

STANTHEGANDER

I just speak gobbledegook

di3004

STANTHEGANDER wrote: »

so do you think id be able to claim on the ppi di? by saying i was self employed?
thanks again

Well I was listening to Martin's link yesterday, will post this below, and he mentioned that its unlikely the policy would protect if self employed, but I would give it a go if you want to and see what they come back with.;)
http://www.itv.com/daybreak/money/paymentprotectioninsurance/

This is what our amersall posted up yesterday on another thread, but also read Martin's checklist as well, which may help.;)

Were you self-employed, unemployed or retired?

If you were unemployed or retired, then check if the policy included unemployment cover. If it did, the unemployment cover is worthless and this should’ve been pointed out to you.
If you were self-employed you need to check whether you were eligible for a payout if your business went bust (usually not) and if not, and it wasn’t pointed out, you may have a case.
Does this apply to you? Expand the full Missold unemployment cover briefing.



Have you been paying for a policy which includes ‘unemployment’? If you don’t need unemployment cover, perhaps because you don’t work or are self-employed, and mentioned this when you took out the policy, or were never asked about your employment status at all, a reclaim may be possible.
Is the policy suitable?
The unemployment element of PPI is only suitable for people who were ‘working’ at the time they took out the policy, therefore you should have been asked about this at the time of application.
Example question: Are you in permanent employment, self-employment or contract employment for more than 16 hours a week?
Of course, if your policy only covers accident and sickness, with no unemployment element, this section doesn’t apply to you.
What is classed as ‘working’?
Providers have different definitions, so it’s important to examine your policy in detail.
If you’re self-employed, check whether your specific set-up is covered. As the ‘unemployment’ element is a substantial part of the insurance cost, many who are self-employed have been paying for a semi-useless policy and this could’ve meant a huge waste of money.
Those who were unemployed at the start of the policy (including students and stay at home parents), were almost definitely missold the insurance as, obviously, you wouldn’t be covered for losing your job. The same applies if you knew you were going to become redundant or retire when you purchased the policy.

If it isn’t suitable, were you missold?

Assuming the policy isn’t suitable, we must establish whether the salesperson bothered to check. Remember, it’s the situation you were in at the time you got the cover that counts, so if you were an employee then, but are now self-employed, that’s not their fault - unless you’ve subsequently asked if the cover was still suitable and been misinformed.
It’s likely you were missold if either:
A. You made the salesperson aware of your situation and they suggested you get it anyway.
B. You weren’t asked about your employment status at all.
Age is an issue too
Most polices have an upper age limit of 65 or 70, after which you’re not covered for anything. If you were older than this when you took out your policy, you were definitely missold. If you have passed the age limit since taking out the policy, your cover and therefore payments should have stopped, but if they haven’t for any reason you’ll at least be entitled to a refund of payments made since passing the age limit.
This situation is rare, as providers’ records should flag up someone’s age being too high from their date of birth, but do check.
What to do if you were missold?
Read the other categories to check there aren’t more reasons to complain and then write a letter to your lender. Full details and template letters in the How to reclaim section.
Read More
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#checklist

STANTHEGANDER

I just speak gobbledegook

di3004

STANTHEGANDER wrote: »

thanks di
i was self employed at the time of both policies and i still am at the end of the day if i were to go bust the loan and policy wouldnt really matter anyway would they?or would they?
thanks again

Hi and your welcome.

If the policy says it would pay out if the business went bust then this ppi would then cover you, but otherwise not according to the write up.

But as you can see on the checklist there are lots of reasons for being mis sold and any of them may also apply to you.:)

STANTHEGANDER

I just speak gobbledegook

di3004

STANTHEGANDER wrote: »

hi again di
what do you think the best route would be for me to take , as i was self employed i wouldnt be entitled to the accident and sickness cover ?am i right in thinking this?
thanks again
rob

Hi Rob
I would give it a try on that basis, because it looks like it varies, some do and some do not by the looks of it.
If we could make sure though and try to get hold of the policy in that year it was taken out - it would help, its possible they will send this to you on request though free.;)

amersall

STANTHEGANDER wrote: »

also am did you take out the ppi?
thanks again

Yes i did and won mis sell last year.If i were you i would put your letter in as i said before, and put about the employed/self employed part, as you would not have been able to claim from either, especially as with the fb you were not guaranteed 16 hours each week.

amersall

STANTHEGANDER wrote: »

thanks di
i was self employed at the time of both policies and i still am at the end of the day if i were to go bust the loan and policy wouldnt really matter anyway would they?or would they?
thanks again

Hi, you could not claim on this policy, as you will still be employed even if your company went bust as you have the fb job, this to me is a no win ever situation. Put your letter in for mis sell, you were not helped in making a informed decision about this ppi, i would say (as a lay woman :rotfl:)
that had you known you would not be covered, as you were in effect in 2 employments, and 1 with few hours, then no one in their right mind would take cover that they could not claim the unemployment part on.Give it a go as you have nothing to lose, if you get a knockback you will not be in a worse position than you are right now.x