Can you reclaim PPI off Hire Purchase?

skintmumof2

Asking for my OH
I was just telling him about the PPi stuff on here when he mentioned about his car loan he had when we first met. He took it out in sept 2003 over 4 years and paid it all off in full. Around £13,000 in total. A portion of this being PPI.
He was self employed at the time. My understanding is that self employed ppl dont need ppi?
Can anyone clarify this?
How would we get the account details as we no longer have them. Could we contact his bank for his old standing order details? It was to close motor finance.
Thank You

di3004

Hiya

Some policies will cover for self employment and others do not, so worth checking on the policy details if you have them, or contact them, and they should send them in the post, even on settled accounts I think.

Yes try the bank, or call in for the details, or check old banking statements, the loan acc number is normally shown next to the loan monthly repayment, if you bank online, this may allow you to go back about 7 maybe 8 years.

The other way is to SAR the bank.
https://forums.moneysavingexpert.com/discussion/1475553
For this just add your bank acc number (if the loan was with the bank then they should send all data of everything taken out with them).

Hope you find them, good luck.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

~Brock~

Unless self employed people somehow are immune from ever having accidents or falling ill then of course they need PPI. Unless good cover is already in existence elsewhere, it is likely that such occurances would have a more catastrophic effect than someone who enjoyes the in service sickness benefits of a large employer. What they dont sometimes need is the unemployment element of the cover, becuase this is difficult for self employed people to claim on.

Some of the more compliant providers did split out the cover and offer just the accident and sickness elements of PPI to self employed people, at an approrpriately reduced cost.