PPI & Self Employeed, Did i make a boo boo?

jamesmp

Hi,

I was self employeed and have since ceased trading because of big debts.
I have registered as unemployed and awaiting for confirmation from my job centre.

What i want to know is when i took my loan out i took out a PPI plan, it mentions "The policey will cover you if you are self-employed and you have involuntarily stopped trading"

At a guess this plan won't offer me any protection at a guess, would there be any way to either reclaim the money from that plan or to use the plan?

di3004

Hi there

Have you actually tried making a claim anyway to see if they will pay out for unemployment?
Maybe rule this out and if they are unable to, then make a reclaim due to these reasons.
Good luck.

Premier_2

PPI usually covers more than unemployment. Self employment therefore does not necessarily make the sale of PPI the subject of mis-selling.

Did you stop trading voluntarily or unvoluntarily? The PPI says it still covers you in the event of ceasing trading unvoluntarily (though you need to read all the terms & conditions regarding this)

jamesmp

Premier wrote: »

PPI usually covers more than unemployment. Self employment therefore does not necessarily make the sale of PPI the subject of mis-selling.

Did you stop trading voluntarily or unvoluntarily? The PPI says it still covers you in the event of ceasing trading unvoluntarily (though you need to read all the terms & conditions regarding this)

We ceased trading because the company wasn't working any more really. So if it carried on we'd only get into more debt. That would be classed as volentry wouldn't it. Genworth are the company doing the PPI on the Alliance & Leicester Loan, i've phoned them up this morning and they're sending me a claim form.