|Investment Property Worldwide.com||
There are many reasons why you may have been the victim of payment protection insurance (PPI) mis-selling. If you have been mis-sold PPI you could be entitled to claim compensation. To help you find out if you are a victim I have produced a quick checklist so you can see if you may have a claim.
First, you need to check if you had PPI on any credit cards or personal loans during the past six years, even if you have since paid them off. If you did have PPI then run through the checklist below your bank or lender had a responsibility to ensure the PPI was suitable for you at the time it was sold to you.
· Did your bank or lender tell you that you must have the PPI as part of the deal to get the credit card or loan? If so, that’s wrong. Having PPI is entirely optional.
· Was the PPI added to your credit card or personal loan without your knowledge? For most people it is not immediately apparent they are paying for PPI because its cost is merged into the loan repayments. The terms and cost of the insurance should have been explained and checked for suitability.
· Were you unemployed, self-employed, redundant, a student or retired? If so and you were sold employment cover as part of the PPI policy then it’s often worthless. You should have been made aware of this.
· Did you have any pre-existing medical conditions? Your bank or lender should have checked this as any pre-existing medical conditions are likely to be excluded from the PPI cover. You should have been made aware of this.
· Did you already have existing cover through benefits available from your employer? If so, your bank or lender should have checked this.
If one or more of these points apply to your circumstances at the time the PPI policy was sold to you, then it’s likely you are the victim of mis-selling.
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