Have you been mis sold PPI?

The mis-selling of payment protection insurance has been highlighted in recent times and more people are succeeding when they reclaim PPI.  There have been clear guidelines set out for finance companies to ensure that they sell these policies correctly and consumers are well informed before they sign up.  However if you already have payment protection how can you tell if you’ve already been mis sold PPI? Read through the list of pointers below and if you answer ‘no’ to any of them then you can reclaim PPI:

•Where the PPI was optional to take out, did the adviser make this clear to you?

•Were you informed about the many ‘get out clauses’ that are contained under the policy?  A good example is that you will not get an insurance pay out if you have a medical condition that was in existence before you signed up

•When taking out a finance agreement or loan was it made clear to you that you have to pay for the PPI in a one-off upfront payment?

•If PPI was paid for in a single payment was it also advised that the cost of insurance would be added to your loan and you would also pay interest on it?

•A single premium PPI is typically only for 5 years.  Did the adviser inform you that if your finance agreement or loan was over a longer period than this you would not be covered for the remainder of the loan term?  Moreover, you should also have been advised that you will continue to pay interest on the PPI insurance after its cover period has expired

If you answered no to any of the above you may have a case to reclaim PPI that was sold to you.  At Empire Claims we have experience in helping customers to reclaim bank charges, PPI and credit card charges.

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