Credit cards and ppi

bigdec

I have looked into my credit history and found that I have had credit cards that I had PPI, and at the time I made a claim on the insurance successfully under the redundancy cover and which paid out. My question is that as the PPI has paid out to me am I able to make claim on the miss selling on the insurance.

Dollymix12

I would have thought if you successfully claimed on your policy then it was suitible and you needed it. If it wasn't you wouldn't have been able to claim. I would think the likelihood of you making a sucessfull complaint is slim because of this

societys_child

Cake and eat it . .

In what way was it miss sold?

dunstonh

My question is that as the PPI has paid out to me am I able to make claim on the miss selling on the insurance.

Yes, rather daftly, the firm is still required to consider any complaint you make about it being mis-sold if you have claimed on the policy.

However, thankfully a bit of common sense does apply. If your complaint is successful, they deduct the amount paid out on the claim from the redress. This frequently sees no refund payable where the amount paid out was greater than the premiums paid.

Plus, having made a claim on the policy, it verifies that you knew about the policy, had a need for it and were eligible. So, you cannot complain using those reasons.

brown1950

If its any help i complained to both Barclays Bank and M&S for miss sold PPI on credit cards and despite claiming on the policy for redundancy both companies
settled my compaints well in excess of the money claimed for redundancy. So yes
you can put in a complaint.

WatchMan

dunstonh wrote: »

Plus, having made a claim on the policy, it verifies that you knew about the policy, had a need for it and were eligible. So, you cannot complain using those reasons.

Eligible yes.

Had a need for it and aware of its existence not so much.

Just because a claim was made sometime down the line does not necessarily show that the consumer needed the policy at the time of sale. Their circumstances may have changed years later.

On a similar note, a consumer may not be aware of the policy until they were told to use it when they advised their bank of a change in circumstance - such as being made unemployed.

dunstonh

Eligible yes.

Had a need for it and aware of its existence not so much.

They claimed on the policy. So, cant say they didnt know about it. Need is more to do with advised cases and most cc PPI sales are not advised.

On a similar note, a consumer may not be aware of the policy until they were told to use it when they advised their bank of a change in circumstance - such as being made unemployed.

But proving it is a different matter.