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Archive for tag: Do You Have a Valid PPI Compensation Claim?alid

Do You Have a Valid PPI Compensation Claim?

If you are in the processes of claiming your money back, you need to tell the bank why you believe you were mis-sold the PPI policy in the first place. There are some common reasons why PPI could have been mis-sold to you but there are also some lesser known ones too. In this list, we look at some of the reasons given why PPI was mis-sold to some of our customers.

Validation

The customer already had a suitable insurance policy in place

We are dealing with many cases in which customers are claiming their money back because they already had a suitable policy or benefit in place that meant PPI was a duplication.

There have been cases in which customers were told they had to buy insurance - this is not a mis-selling reason in itself - but when the bank says that it must be their PPI, then this constitutes mis-selling.

PPI was expensive and offered a poor level of cover. By shopping around, a customer would have no doubt come across a better policy, with better cover and at a lower monthly or annual premium. But the banks didn't want this hence, if they told you your insurance cover was not good enough nor acceptable, you may have a claim for PPI compensation.

You may need to prove you had an insurance policy in place that covered your debt or income in the event you lost your job etc. We can help with this too.

If you were:

  • unemployed
  • OR working less than 16 hours a week
  • OR retired
  • OR employed on a temporary basis
  • OR working a temporary contract
  • OR you were retired when PPI was sold to you, you have a valid claim for compensation

The terms and conditions under the PPI were strict and stringent - the customer had to be working full time on a permanent basis - and did not include any of the situations covered above.

This means if you tick at least one of theseat the time the PPI policy was sold to you, you have a valid claim for PPI compensation.

Pre-acceptance for a PPI policy

This is where the box for opting in for PPI was already ticked. In other words, there was no opportunity to discuss the pros and cons of the policy, whether it was suitable for you or not.

In most cases, this opt-in box was at the bottom of a very long set of terms and conditions, and wasn't very noticeable to the customer.  

At Payment Protection Scotland, we can help you make a claim for PPI compensation. Call our friendly team today!