ellenripley
New member
or is it just if you become unemployed or sick
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Can you claim your PPI back if you are in financial difficulty?
- Thread starter ellenripley
- Start date
Credit Card Write Off
New member
No You cannot
However PPI is a form of insurance. All insurance agreement are contracts of uberrimea fidea (of utmost good faith) Therefore if they were sold in bad faith the insurance is invalid (but you can recover your premiums paid).
To do so you have to show that the insurance was missold
Typical examples are
The Insurance is not valid ie they sold it to you and you are a pensioner or were unemployed
You did not require it ie the salesperson did not fully explain it to you or you had alternative cover
You were forced into it (they said you could not get the underlying loan without PPI)
or they sold it to you without you realising (ie you had to untick a box to stop the policy being added in with the loan)
To recover it I would advise seeing a specialist claims company to determine grounds for recovery
However PPI is a form of insurance. All insurance agreement are contracts of uberrimea fidea (of utmost good faith) Therefore if they were sold in bad faith the insurance is invalid (but you can recover your premiums paid).
To do so you have to show that the insurance was missold
Typical examples are
The Insurance is not valid ie they sold it to you and you are a pensioner or were unemployed
You did not require it ie the salesperson did not fully explain it to you or you had alternative cover
You were forced into it (they said you could not get the underlying loan without PPI)
or they sold it to you without you realising (ie you had to untick a box to stop the policy being added in with the loan)
To recover it I would advise seeing a specialist claims company to determine grounds for recovery
emanwelgwent
New member
1. Whether you can claim *on* the PPI depends on its terms and why you're in financial difficulty. Most policies will only cover involuntary unemployment and non-pre-exisiting illness. Some will also provide life insurance and personal injury insurance.
2. You might be able to *claim back* your PPI if it was missold. A lot of PPI policies were. If you think it was missold you should speak to a solicitor about it (*not* a claims management company...) or have a look on the Consumer Action Group forums. Claiming back PPi would be likely to take some time & effort.
2. You might be able to *claim back* your PPI if it was missold. A lot of PPI policies were. If you think it was missold you should speak to a solicitor about it (*not* a claims management company...) or have a look on the Consumer Action Group forums. Claiming back PPi would be likely to take some time & effort.
emanwelgwent
New member
1. Whether you can claim *on* the PPI depends on its terms and why you're in financial difficulty. Most policies will only cover involuntary unemployment and non-pre-exisiting illness. Some will also provide life insurance and personal injury insurance.
2. You might be able to *claim back* your PPI if it was missold. A lot of PPI policies were. If you think it was missold you should speak to a solicitor about it (*not* a claims management company...) or have a look on the Consumer Action Group forums. Claiming back PPi would be likely to take some time & effort.
2. You might be able to *claim back* your PPI if it was missold. A lot of PPI policies were. If you think it was missold you should speak to a solicitor about it (*not* a claims management company...) or have a look on the Consumer Action Group forums. Claiming back PPi would be likely to take some time & effort.
emanwelgwent
New member
1. Whether you can claim *on* the PPI depends on its terms and why you're in financial difficulty. Most policies will only cover involuntary unemployment and non-pre-exisiting illness. Some will also provide life insurance and personal injury insurance.
2. You might be able to *claim back* your PPI if it was missold. A lot of PPI policies were. If you think it was missold you should speak to a solicitor about it (*not* a claims management company...) or have a look on the Consumer Action Group forums. Claiming back PPi would be likely to take some time & effort.
2. You might be able to *claim back* your PPI if it was missold. A lot of PPI policies were. If you think it was missold you should speak to a solicitor about it (*not* a claims management company...) or have a look on the Consumer Action Group forums. Claiming back PPi would be likely to take some time & effort.
emanwelgwent
New member
1. Whether you can claim *on* the PPI depends on its terms and why you're in financial difficulty. Most policies will only cover involuntary unemployment and non-pre-exisiting illness. Some will also provide life insurance and personal injury insurance.
2. You might be able to *claim back* your PPI if it was missold. A lot of PPI policies were. If you think it was missold you should speak to a solicitor about it (*not* a claims management company...) or have a look on the Consumer Action Group forums. Claiming back PPi would be likely to take some time & effort.
2. You might be able to *claim back* your PPI if it was missold. A lot of PPI policies were. If you think it was missold you should speak to a solicitor about it (*not* a claims management company...) or have a look on the Consumer Action Group forums. Claiming back PPi would be likely to take some time & effort.
I had PPI with Capital One and when I became unemployed in Jan 09 I activated the PPI they have with AXA Insurance, the card limit was only £200 and was at its limit - 7 months later AXA have still not processed the claim, Capital One have added on over £100 on charges, I daily get verbal phone calls from the call centre in the Philippines - I was only unemployed for 12 weeks and was in a position to start paying it and have paid the balance of £200 but I refuse to pay the additional charges, now they say you have to continue paying the monthly payment until the PPI is finalised with AXA - where is the sense in having PPI - Capital One were also find £175,000 2 years ago for selling false PPI? - call your bank or credit card company and ask if you can have reduced payment or is there anything they can do to help.