Any advice welcome.

carolannjo

Recently I have been reviewing my finances. I have a loan from Bank of Scotland taken out in 2008 which has Critical Illness Cover on it.
When I was sold it I believed it was being sold a stand alone policy, however on review it has been added to the loan!! Obviously I should have noticed this in 2008 but didnt. Is there anything I can do about it now or am I stuck with it!

di3004

carolannjo wrote: »

Recently I have been reviewing my finances. I have a loan from Bank of Scotland taken out in 2008 which has Critical Illness Cover on it.
When I was sold it I believed it was being sold a stand alone policy, however on review it has been added to the loan!! Obviously I should have noticed this in 2008 but didnt. Is there anything I can do about it now or am I stuck with it!

Hi there

Its a possible reclaim, and with it being sold to you in 2008 the policy should have been discussed with you, how was you sold the policy?
Was it direct with the bank, on the phone, internet etc?
If on the internet they would have expected customers to make sure the policy was suitable for you and it should have given you an option, and if sold over the phone it maybe worth you writing to request for a copy of the phone recordings.
These may help your case.

Meanwhile though, check the link below for more details and if you believe it was mis sold with the reasons you have, give it a go, by completing the reclaim questionnaire as shown on stage one of the reclaiming, remember to keep copies of everything in case you need to refer your complaint to the FOS etc later on.

And send the completed questionnaire to whoever sold you the loan, if they have a complaints dept then send to them or otherwise their head office.

As you may be aware they have 8 weeks to give a decision, they will or should keep you informed of the progress of your complaint, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance