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Archive for tag: PPI Paperwork

PPI and the Case of the Missing Paperwork

This is a story being played out across the UK but Payment Protection Scotland would like to change the ending...

"Mary and Bill retired some years ago. They had invested in pensions, their lifestyle can now be described as comfortable. They are doting grandparents to many grandchildren. They have a daughter in Australia, married with 3 grown children.

Mary and Bill received the dreadful news a few years ago that there had been a dreadful accident in Australia. Their daughter was incredibly ill. Mary needed to go but they did not have enough funds to get her out there immediately.

With an insurance policy due to mature in 6 months, Bill decided to act quickly; he applied for a small loan with his bank, with whom he had banked for the last 33 years. Being emotional, with his mind on his daughter's plight, he signed everything he was asked. The money came through and Mary flew to Australia.

Bill followed shortly after but their daughter pulled through and all was well. They flew home.

Time passed and the PPI debacle hit the headlines. Mary tutted and commented on the seriousness of the situation but Bill mulled over the loan he had taken out 2 years. It was paid off now; he had used some of the money from the insurance policy that had matured 6 months after their Australia visit.

"I wonder if PPI was added to our loan? Too late know though, no idea where the paperwork for it all is..." And Bill did no more about it.

What Payment Protection Scotland would like to happen!

  1. They would like Bill to contact them to discuss the full circumstances at the time they took out the loan! Neither Bill nor Mary were working, they were retired. The likelihood is that they would not be covered under the PPI policy.
  2. They would contact Bill's bank on his behalf to ask for copies of the loan agreement to check if there was PPI on the loan. If there was, there is a potential PPI compensation claim.
  3. If there was PPI on the loan, Payment Protection Scotland would advise Bill and Mary to submit a claim for PPI compensation on the following grounds;

i. The sale was unfair; Bill's mind was clearly distracted at the time he signed the loan papers.

ii. PPI would not cover them as they are retired

iii. PPI would still not have covered them if Bill had been working; his pre-existing angina means if he had not been able to work due to it getting worse, they would not have made the loan repayments on his behalf

iv. PPI compensation is due and we would give the bank our calculations as to what we think Bill should be due

v. If the bank declined Bill's PPI compensation claim, we would take the case to the Financial Ombudsman Service (with Bill's permission)

Don't let missing paperwork stop you making a PPI compensation claim! Call Payment Protection Scotland today!