PPI on Defaulted accounts

Fisherman123 · 1 June 2015 at 10:52AM

Hi,
Back in 2000, I was a silly boy and got myself sacked from work. At that point I was heavily in debt which wasn't great as I had to go to Citizens Advice as all my banks and credit cards who had sold me PPI had failed to mention that PPI didn't cover getting sacked. So I defaulted on my accounts as I had no choice. Since then I have had a successful claim with MBNA on a loan that was from 2006. What I need to know is that on the basis of my default accounts back in 2000, if I make a claim can the banks/credit cards/store card people ask me to pay the money I owed back or can I get the PPI back without any fear of repercussions?
Thanks

magpiecottage · 1 June 2015 at 12:01PM

PPI, like most other insurances, is intended to protect against unforeseen misfortune.

Sacking, as opposed to simple redundancy, suggests misconduct and, as such, would be seen as a "self-inflicted" misfortune.

That the policy was not missold but you would have to show it was missold.

You also say you were in debt. If a complaint was upheld and the business you claimed against had been forced to write off part of a debt you owed it, it could use any redress toward that.

Even then, yu would be reliant on FOS to pursue such a complaint. If the business was not subject to the jurisdiction of an Ombudsman scheme when the policy was taken out, FOS could not help you and the business could simply dismiss it.

So the odds are against you.

Fisherman123 · 1 June 2015 at 12:44PM

Thanks for your help, Ill let sleeping dogs lie.

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