Ppi dummy!!!!!

mikewardley8

Hi everyone, I have read through about half a dozen times what the procedure is to reclaim PPI but I can't get my head around it?

I think what is puzzling me is what proof is there that I have been mis-sold the PPI, surely it would just me my word against theirs??

I know that isnt the case because of how success stories there are, I am just baffled by it?!?!

can anyone help?
cheers

di3004

mikewardley8 wrote: »

Hi everyone, I have read through about half a dozen times what the procedure is to reclaim PPI but I can't get my head around it?

I think what is puzzling me is what proof is there that I have been mis-sold the PPI, surely it would just me my word against theirs??

I know that isnt the case because of how success stories there are, I am just baffled by it?!?!

can anyone help?
cheers

Hi and welcome

Check the check list on Martin's guidelines, if you think you have a case of being mis sold, they will investigate on what you send and on what info they have of the sale of the policy.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

magpiecottage

Why do you think you have been missold?

Were you charged a single premium that was added to the loan?

Were you ineligible to claim because of existing medical conditions?

Did somebody advise you to take it out - or tell you that doing so was either a requirement of the loan or would increase your chances of getting it?

roonaldo

First of all, if you say mis-sold to the firm, you need to tell them why.

Since Dec 10, firms must look at the PPI sales under the FSA's PS10/12 guidlines, the lenders must look at the whole sale and check that it was suitable for you and you were eligible for it, along with other aspects of the sale. It also depends on if its a monthly (good) or single (bad) premium policy.

Your allegations will be looked at, but be careful and truthful.

It also depends on when you took it out, sales of PPI were generally better post Jan 05 as regulation came in but single premiums were still being sold.

mumofjanda

It also depends on if its a monthly (good) or single (bad) premium policy.

My husband had a loan which had PPI added at the beginning so that he then paid interest on both the money lent and the PPI. Is this what you mean by a 'bad' premium? He didn't need the PPI as he would be paid by work and then we had a policy for unemployment, critical illness, death etc. so we are putting in a complaint. In our niavity at the time we accepted PPI as being part and parcel of getting the loan. If it is a 'bad' premium does this add to our mis-selling argument.?
Will we need to provide evidence of the other policy that we had. We have changed companies since this loan finished so I will have to do some digging around to get policy details, will start looking now if they will be needed!
Another question, please!! Is it worth mentioning that my husband works for the company owned by a very close family member and from experience he would continue to pay my husband full pay longer than the period written into his contract, in the event of sickness.
TIA for any guidance.:)