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I tried to use PPI (unsuccessfully) can I claim mis-selling?
Lancashire_Knight
Posts: 2 Newbie
I had mortgage PPI with The Chelsea in the 1990s and actually tried to use it. Unfortunately it was a disaster. It turned out that the terms of claiming were not as I was led to believe.
Is this as legitimate a basis for claim, as not realising that you had even bought PPI in the first place?
Is this as legitimate a basis for claim, as not realising that you had even bought PPI in the first place?
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If it would NOT have paid out when you needed it, yes it could be miss-sold but there is a fair chance they will either have no records left if the mortgage was finished more than 6 years ago so you'd need your own records. They could also time-bar it given you knew about it and could have complained back then
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Is this as legitimate a basis for claim, as not realising that you had even bought PPI in the first place?
They should be able to successfully time bar that complaint as you have three years from being reasonably aware of an issue to raise a complaint. So, a complaint about a claim that happened more than 3 years ago could be timebarred.
If the claim was something the policy didnt cover then that is not the fault of the policy. If you were not eligible to be covered then that would be a mis-sale.
A lot of Chelsea business was done via brokers. Was yours?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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