PPI advice needed

Yorkeipudding

After watching the tonight programe it prompted me to look at my PPI which I have on a securred loan/mortage I stupidly took out at a reduculous rate. The PPI was over £3K lump sum on the loan so I am paying interest on it throuout the 10 year loan. I was never asked if I had any existing medical conditions at the time and was never told I had the option of finding setting up my owe if preferred. The paperwork came with ithis amount already set out and included. When I actually read the paperwork to my HORROR I realised that the insurance is only for 5 years but my loan is for 10 years and I'm paying interest on this amount throughout the 10 years. Therefor this insurance runs out in May 08. The problem I have is that I have made one claim on the insurance and been declined for two others as pre- exisitng. So my question is do I stand any chance of claiming any of this back or taking it further as being miss sold. If it hadn't have been for the tonight programe after May 08 I would have still continued to think I was covered. Please Help

Toni49

I have just sent a letter off making a formal complaint to my Bank First Direct who sold us a PPI 7 years ago. We have a complaint on a number of points. 1. They did not ask about pre-existing medical information, 2. It was implied it would help our application, 3. The sales person was pushy, even though we already had cover for sickness, 4. They did not inform us that we could seek alternative insurance, nor did they say it was optional.

Therefore I think you should make a complaint to the company who sold you the loan.

We expect to get knocked back, but intend to go all the way with this one, I will let you know the banks response.

Toni49

I forgot, I also complained that the person who sold us the load, did not have the required financial experience to be able to meet our requirements or needs and therefore was not fit to sell me the appropriate product based on my needs. I think you should also complain on that one, as you did not know this was only going to cover you for part of the term of the loan, a cruicial error in my view.