Wording in Credit Agreement

[Deleted User]

mon£ycat wrote: »

I would welcome any thoughts on whether I should make a claim and best ways to approach as Sainsbury's claim on their site that anyone who took a loan before Feb 2009 might have cause to make a claim.

There is no point complaining about PPI unless you have valid reasons for doing so. You cannot complain simply because you had PPI or (in this case) simply because you took it out before February 2009.

mon£ycat

Thank you to both dunstonh and moneyineptitude (great name and avatar by the way) for your comments and advice.

I suppose my real concern is that I could have been sold insurance for things that were already covered by my employer. The exact same scenarios: unable to work due to illness i.e: critical health or life insurance or that I would get above basic redundancy payment upon my role being made redundant. The insurance I have appears to cover those same things and this was not made clear to me at the time I applied for the loan. That and I felt pressure to get insurance to get the loan. Ironically my role was made redundant about 18 months after I took the loan out and since I've been self employed, so I suppose the insurance probably wouldn't work now.

The 2009 comment I found odd on the Sainsbury's web site is why I mentioned it. It has little to do with my feeling I was mis-sold PPI on the loan due to date. I just wasn't sure why they would use that particular date as a cut off - supposed maybe it had something to do with legislation or the banks loosing their appeal.

Thanks again to you both, I will continue to investigate. Sainsbury's are actually really nice to deal with.

-taff

If you were made redundant, were stil paying the loan, and iddn't use the PPI to claim for the payments, then I would mention that in your complaint too, as you were obviously unaware of the exact nature of the product.

[Deleted User]

mon£ycat wrote: »

The 2009 comment I found odd on the Sainsbury's web site is why I mentioned it. It has little to do with my feeling I was mis-sold PPI on the loan due to date. I just wasn't sure why they would use that particular date as a cut off

It's obviously just to discourage anyone complaining who has had PPI in the more recent past. By 2009, there were far more robust selling procedures in place and mis-selling was much less likely.

mon£ycat

thank you to you all for the information! I really really appreciate it. I've never even considered I could have been mis-sold insurance until I read this web site. Having help from Forum members is awesome.