PPi Mis Sell Help

Mars_1

Hello All,

Newbie...I have started to complete the consumer questionnaire today to try & reclaim PPi which i believe was mis sold.
I am having difficulty filling out why it was mis sold.
Personal Loan taken out in 2006 with HSBC. I have a couple of questions.
Can anyone tell me if my Personal Income Protection plan would have covered me for my loan in the event of not being able to work ?
Is it sufficient enough to explain that I was told i needed to take out the policy to be eligible for the loan.
Sorry if it's a little long winded, but i need to get my facts straight before proceeding. Funny how filling a form out can make you so nervous.:rotfl:

di3004

Mars_1 wrote: »

Hello All,

Newbie...I have started to complete the consumer questionnaire today to try & reclaim PPi which i believe was mis sold.
I am having difficulty filling out why it was mis sold.
Personal Loan taken out in 2006 with HSBC. I have a couple of questions.
Can anyone tell me if my Personal Income Protection plan would have covered me for my loan in the event of not being able to work ?
Is it sufficient enough to explain that I was told i needed to take out the policy to be eligible for the loan.
Sorry if it's a little long winded, but i need to get my facts straight before proceeding. Funny how filling a form out can make you so nervous.:rotfl:

Hi and welcome

If you were told that you needed to take out the policy to be eligible for the loan, then that is wrong, so you will need to put this into the application form and other reasons that may also apply to you.
Everyone's circumstances differ on the protection side of it, so if it would have protected you would have depending on your own circumstances, if you worked I think less that either 18 or 16 hours, some policies may even state 24 hours a week, so worth checking on this just in case, then if this is the case the policy if making a claim for unemployment would not protect you.

Complete to the best of your knowledge, also remember to keep a copy for yourself as well and allow 8 weeks for a decision, however they may ask for more time as they have a backlog and have been given permission to have more time to deal with complaints.

Good luck.

Mars_1

Thanks for your reply di3004,
So basically if I worked more than these hours (42hrs pw) the pip plan would have covered me & therefore could be grounds for missold ppi ?
I had personal insurance protection before on a prevoius loan aswell but it was never explained properly that i could use this as cover.

di3004

Mars_1 wrote: »

Thanks for your reply di3004,
So basically if I worked more than these hours (42hrs pw) the pip plan would have covered me & therefore could be grounds for missold ppi ?
I had personal insurance protection before on a prevoius loan aswell but it was never explained properly that i could use this as cover.

Your welcome

I would if you can try to get hold of the policy details as they may differ from one business to another, where some will others won't, if you no longer have these you can request for them free of charge.

If you think you were also mis sold on the previous loan ppi, then you can also make a reclaim on that as well, so if with the same business you can make the reclaim on the same questionnaire, if you do this make sure you enclose both loan account numbers that apply, but if you prefer you can do these separately, I personally think separately if the reasons slightly differed on the mis selling reasons.;)

dunstonh

Can anyone tell me if my Personal Income Protection plan would have covered me for my loan in the event of not being able to work ?

Depends on your income protection. Not all plans are the same and the terms you set them up under will vary.

Is it sufficient enough to explain that I was told i needed to take out the policy to be eligible for the loan.

No. Whilst it can be a valid reason for complaint, its one that is difficult to prove and if you have no evidence to support your accusation and the they have nothing at their end that supports your accusation then its not enough by itself. Your normally need another reason to cement it.

However, some banks are now refunding cases without a fight whilst others are not.