PPI Mis-Selling Claim - Can I Claim PPI Compensation?
Have I got a valid claim for PPI mis-selling?
First of all, and silly as it sounds you need to establish if you have Payment Protection Insurance 630-006(other wise known as PPI). Whilst it was heavily mis-sold not every loan was sold with it, but you may have the insurance without knowing.
So you need to establish what loans, mortgages or credit cards you may have taken out PPI on. In the case of a credit card you should be able to see any payments taken for PPI in your credit card statement.
However in the case of a loan it may not be obvious on your statement as itmay have been put on as a lump sum and added to your loan at the start and so may not show as an individual item on your statement. If this is the case you should contact your lender to find out if you have it.
The most obvious cases of people being mis-sold PPI are those where customers were sold policies where they simply had no chance of claiming on it. Examples of this are shown below: -
If you were unemployed,630-008 self-employed or retired at the time of taking out the policy there will be no possibility of you making a valid PPI claim.
When you took out the policy, you already had an ongoing medical problem that could have kept you from working then you would have no chance of claiming had this medical condition later been exposed as pre-existing. If it this was not explained by the loan advisor then you have a viable claim.
When you took out a loan and were sold a single premium PPI policy. This is whereby the whole cost of the PPI premium was paid for up front with this PPI fee being borrowed at the same interest rate as the loan.
When you took out the loan, if the entire cost of the PPI was not explained to you, or the loan quotation only showed the cost of the loan with the PPI attached, then you have a valid PPI mis-selling claim.
Whilst not a comprehensive list, this demonstrates how easy it is to make a claim for PPI mis-selling. For more details on how easy it is to claim and how muchCPSM1 you may win then please read the authors signature below.
First of all, and silly as it sounds you need to establish if you have Payment Protection Insurance 630-006(other wise known as PPI). Whilst it was heavily mis-sold not every loan was sold with it, but you may have the insurance without knowing.
So you need to establish what loans, mortgages or credit cards you may have taken out PPI on. In the case of a credit card you should be able to see any payments taken for PPI in your credit card statement.
However in the case of a loan it may not be obvious on your statement as itmay have been put on as a lump sum and added to your loan at the start and so may not show as an individual item on your statement. If this is the case you should contact your lender to find out if you have it.
The most obvious cases of people being mis-sold PPI are those where customers were sold policies where they simply had no chance of claiming on it. Examples of this are shown below: -
If you were unemployed,630-008 self-employed or retired at the time of taking out the policy there will be no possibility of you making a valid PPI claim.
When you took out the policy, you already had an ongoing medical problem that could have kept you from working then you would have no chance of claiming had this medical condition later been exposed as pre-existing. If it this was not explained by the loan advisor then you have a viable claim.
When you took out a loan and were sold a single premium PPI policy. This is whereby the whole cost of the PPI premium was paid for up front with this PPI fee being borrowed at the same interest rate as the loan.
When you took out the loan, if the entire cost of the PPI was not explained to you, or the loan quotation only showed the cost of the loan with the PPI attached, then you have a valid PPI mis-selling claim.
Whilst not a comprehensive list, this demonstrates how easy it is to make a claim for PPI mis-selling. For more details on how easy it is to claim and how muchCPSM1 you may win then please read the authors signature below.
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