Do I have a claim?

sick2death

Hi folks, just trying to get a bit of advice as to whether I fall into the mis-sold catagory or not.

Basically, I took out a loan with Egg (dates are approx as I dont have paperwork to hand) around 2002. This was then "topped up" in 2003, and again in 2004 to clear Egg card balance.

I cant be certain of when I started paying PPI. It may of been the duration of the loan, although on one of my "top up" applications, I remember being told I would have to take out PPI in order to be approved for the loan - although from reading other threads this doesnt seem to be enough to be classed as miss-sold.

At the time I took out the loan I was full time employed by a plc company, with a comprehensive sick pay scheme.

Things get a little more complicated. In 2008 I changed job, and was unfortunatley made redundant after only 6 months with my new employer. I started to struggle to pay the monthly premiums, and eventually defaulted on the account. The account was in arrears for about 9 months, until I finally pulled my head out the sand, and sorted my finances out, which resulted in me clearing the loan with Egg, at a slightly reduced rate in full and final settlement.

I honestly doubt I would be classed as miss-sold, due to the fact I was made redundant. Being told explicitly I HAD to have PPI, was obviously misleading to say the least, but not enough to base a claim on, so I'm led to believe.

Any advice welcomed.

Thanks.

ALIBOBSY

People are and have been claiming even if they claimed on the ppi, but be aware any payments made under the policy are knocked off the settlement.
You could do a SAR to see exactly what is on the account-this enables you to check any offers they make are fair. Or just bang a claim in (use the fos questionare) and hope they are fair when they work it out. Unless that is you have all the documents and statements in which case you can do the calculation yourself.
If they refuse the claim you can either take them to court-quicker but alot more work/initial costs and you have to be prepared for the fact they may go all the way and you will have to argue in court, or put if before the fos where it may take up to 2 years, but is free and they do most of the work/chasing etc. If you go to the fos and don't like their decision you can still go to court, but if the court goes against you thats it.
You have at least 2 reasons for the miss sale, told it was compulsary and the good sick pay/redundancy package you had at work, you could add not told you could take insurance elsewhere and no suitability discussions.

good luck

ali x

magpiecottage

You have not really told us enough.

Did you pay a single premium that was added to the loan (which will almost certainly result in a complaint being upheld)?

Otherwise the issue of sick pay provision by your employer would depend on what was said at the time and whether or not the policies would pay even though you were receiving sick pay.

Common_Sense_2

ALIBOBSY wrote: »

you could add not told you could take insurance elsewhere

not a miss-sale reason