Claiming on a used policy

aidy06

Hi, I had 2 PPI on a loan and a car. I got miss sold these as at the time I got told in order to have the loan I had to take out the PPI or I wouldn't get it and the car finance place told me I'd have to take it out when signing up and it had to be with them. They were both around £30-40pm, I got made redundant in 2010 and claimed on both policies for 12 months. Got a new job shortly after they'd finished paying out and cancelled both policies, didn't think I could claim as I'd used them but a friend told me I can. Wondering If anybody can give me any further information on this please? Thanks in advance

withabix

You might be able to, but I suspect that you would have to repay the money that has been paid out, seeing as you did actually benefit from being 'mis-sold' the policies.

On the other hand, the policies were not unsuitable, as they did what they were supposed to do...

aidy06

withabix wrote: »

You might be able to, but I suspect that you would have to repay the money that has been paid out, seeing as you did actually benefit form being 'mis-sold' the policies.

On the other hand, the policies were not unsuitable, as they did what they were supposed to do...

Yeah I thought as much, just double checking as the person who told me was adamant that I could reclaim but as you mentioned I thought if I was successful in doing so that I would then have to pay back what they'd paid me already. Thanks for the reply

roonaldo

aidy06 wrote: »

Yeah I thought as much, just double checking as the person who told me was adamant that I could reclaim but as you mentioned I thought if I was successful in doing so that I would then have to pay back what they'd paid me already. Thanks for the reply

it can be mis-sold. but you claimed on it, so the policy was suitable, you were eligible for it and it was fit for purpose. so what on earth was wrong with the insurance?

in the unlikely event you were mis-sold it, the amount you claimed would be taken off the money owed to you. which could mean little or none.

sounds like you want a free ride.

dunstonh

just double checking as the person who told me was adamant that I could reclaim

Do you actually have reasons for complaint or is some "individual" trying to encourage you to complain for financial gain (yours or theirs)?

[Deleted User]

withabix wrote: »

I suspect that you would have to repay the money that has been paid out

Not quite, but any redress awarded would be minus the earlier claim amount.
There are no circumstances where the complainant would have to "re-pay" their earlier claim.

aidy06

roonaldo wrote: »

it can be mis-sold. but you claimed on it, so the policy was suitable, you were eligible for it and it was fit for purpose. so what on earth was wrong with the insurance?

in the unlikely event you were mis-sold it, the amount you claimed would be taken off the money owed to you. which could mean little or none.

sounds like you want a free ride.

Free ride? I was just asking the question, a friend was adamant I could still claim and I wasn't. Thought I'd get a second opinion as its always nice to have one, no need to be so rude

aidy06

dunstonh wrote: »

Do you actually have reasons for complaint or is some "individual" trying to encourage you to complain for financial gain (yours or theirs)?

I do believe I was mis-sold the PPI but as I've used it then in my eyes thats it as it has done what it was meant to do, a friend kept telling me I could still claim so I thought I'd get a second opinion on here which I now have and I'm satisfied with the info I've got back

magpiecottage

You say you were told you "had to" have the policy but I doubt there is any evidence to support that assertion.

As you have made a successful claim, the policy seems to be suitable.

As you paid monthly, the only other basis for a complaint to be upheld - a single premium added to the loan - seems to fall away.

Your friend does not seem to know what he is talking about.

roonaldo

aidy06 wrote: »

Free ride? I was just asking the question, a friend was adamant I could still claim and I wasn't. Thought I'd get a second opinion as its always nice to have one, no need to be so rude

sorry to be rude. its just that you used the policy as intended, but now you want your money back, which just seems wrong.

aidy06

roonaldo wrote: »

sorry to be rude. its just that you used the policy as intended, but now you want your money back, which just seems wrong.

I don't want my money back, like I said in the OP a friend said I could reclaim money back even though I had used the policy. I didn't think that I could but he was adamant so I asked on here, it didn't even cross my mind to try and claim back as I'd used the policies and they paid out but with him going on and on about it to me I just thought I'd ask.