Can You Make A PPI Claim?
If you have a credit agreement in place and where not made aware by the advisor of the following terms when you took out your payment protection insurance then there is the distinct possibility that the PPI you have could have been misold to you:
If you have a credit agreement in place, be it a credit card or mortgage agreement, and you took out PPI then you should have been made aware o the following terms. If you were not made aware of the following terms at the time of taking out the PPI then it is likely that you have a case of mis sold PPI and can then escalate this to a PPI Claim.
Your advisor should have made you aware of the following information:
The advisor should also make you aware of any policy exclusions and then check whether any of these exclusions apply to you.
The advisor should also make you aware of any policy exclusions and then check whether any of these exclusions apply to you.
The advisor should make it clear whether the PPI is optional or not
If the policy was a single premium policy, then the advisor should have made you aware that the cost of the policy would then be added to the loan or finance agreement and that interest would then be applicable on the policy.
The advisor should make it clear whether the PPI is optional or not
The rules set by the FSA are very clear. They state that you must be given enough information at the time of purchasing the insurance so that you are fully able to make an informed choice as to whether the policy is right for you. After all, if you were not informed about interest costs you cannot fully calculate the costs of repayments and so you may not actually be able to afford them.
You will also need to know the exclusion and exemptions associated with the agreement so that you arein a position to fully understand what you are agreeing to. If at any point the advisor has failed to mention any of these points than you have a case of mis-selling a policy.
There are many experts out there to help you Reclaim PPI contact Donns LLP to Claimback PPI.