PPI Claim Checklist – Do You Have A Case?

Making a PPI claim can be a complex operation, with so many different factors to consider. When selling PPI it is up to the salesperson to advise the customer exactly what they are paying for and whether it is applicable to them.

This means that whatever information the salesperson (or online form for that matter) conveyed during the sale of a separate financial product, is vital. Here is a handy checklist which you can go through to see whether or not you could be entitled to thousands in PPI compensation. If your experience matches one or more of these then you will probably be entitled to a PPI refund:

1. Were you advised that PPI was compulsory?

One of the most common complaints is that consumers have often been informed that they must buy a PPI policy from the same provider (and therefore aren’t able to shop around) or else they would not be accepted for the product.

This is a form of mis selling as a company cannot insist that you buy an insurance product from it. Within this form of mis selling, the salesperson may also have: failed to tell you that the policy was optional and that there was a cooling off period; suggested that the overall cost would be more expensive if you didn’t take out the insurance; advised that taking out a policy would help your application; been very pushy when selling the product; and threatened to cancel your application if you didn’t take out the insurance.

2. Have you been paying for PPI without knowing it?

Many people only realise that they have been paying for PPI years after applying for a loan, credit card or mortgage. The reason why PPI often went un-noticed is because pre-July 2007, agreements included pre-ticked boxes meaning borrowers had to opt-out of add-ons rather than opt-in. Such practice is considered to be mis selling and is no longer used.

3. Were you sold PPI unnecessarily?

If you already had similar cover through your employment, were self-employed, unemployed or retired at the time of the application then you should never have been offered PPI in the first place, let alone sold it. As it stands, the PPI would be worthless as you would never have been able to use it in the event of a claim.

Further cases of mis sold PPI are when the policy was not what you agreed to, the insurance finished before your loan, or if turned out to be a policy just for yourself and not your partner too. You're unlikely to be covered for any medical problems you've had in the past, a fact that should have been brought to your attention.

4. Has your provider already been found guilty of mis selling PPI?

The FSA, has already fined a number of major providers, saying that it wants to see better practice. If your provider is one of them, then it's very likely you've a case.

If any of the above applies to you then call our 24/7 hotline, 0800 043 2027, to request a PPI reclaim pack.