unaware of ppi on credit card & when it was needed, put on min repayment plan

lje81

Hi this is my first post, hopefully it's in the right place. My partner agreed to a company finding out if he had ppi as he didn't think he'd ever had it. Turned out he had ppi on a credit card - he realised during the time he had it he had an accident and wasn't able to work or repay the card, when he informed credit card company they put him on min repayment plan which ruined his credit rating. At no time did they activate or tell him about the ppi he had!! The company who are claiming the ppi back had never heard of this situation before. Is he/ppi company able to claim back the money he paid on the repayment plan (about £2000) and any compensation for this happening & ruined credit rating?

magpiecottage

It is not clear what you mean. If the policy paid the minimum repayment and that is what the bank arranged then they would seem to have done nothing wrong in that regard.

lje81

Sorry it wasn't clear. The credit card company put my partner on a repayment plan which he had to find the money for. He wasn't aware he had ppi as he didn't ask for it or agree to it when he took out the card.

dunstonh

The company who are claiming the ppi back had never heard of this situation before.

That is bad for a CMC as there is FOS have published examples of this before. You would expect any decent CMC to have an awareness of FOS decisions and published info. In these cases, the FOS would check to see if the insurer would consider a claim on the policy is the suitable option.

Is he/ppi company able to claim back the money he paid on the repayment plan (about £2000) and any compensation for this happening & ruined credit rating?

Would it have made any difference? i.e. if the PPI paid the minimum level each month for 12 months, he would still have had to find the balance at some point.