At a time when mis-sold PPI haven been consistently hitting the headlines, most people are suspicious of almost of loans and credit payments made in the past. Was I mis-sold PPI? It has been a common concern in this decade. At least 15 million complaints have been handled in the past, and it is believed there are millions of pounds that are yet to be claimed. With all the negative news on this otherwise necessary insurance policies, here are criteria that could help you determine if your plan qualifies to be regarded as mis-sold.
If you do not remember being offered PPI
This might seem simple, but if you do not remember discussing PPI, there is a real chance that you are a victim of mis-sold PPI. As such, if you do not recall your lender, bank, or broker mentioning something about it at the point of sale, there is a high chance this policy was sneaked to your loan without your consent.
If you were not eligible for PPI
Not everyone is eligible for PPI. To qualify for this policy, you should fit within a particular criterion. Failure to meet the qualification makes you ineligible for any benefits. However, some lenders or brokers sold these policies to individuals that were not eligible. Different types of people were/are eligible for PPI. If you paid for PPI when you were self-employed, younger than 18 years, you did not have a full-time job, you had a pre-existing medical condition, or if you are past the retirement age, you might have been mis-sold PPI.
If you were already covered
If you are already covered in an another type of pre-insurance policy, chances are that you already have an active PPI. As such, having a PPI Policy on a loan or some credit agreement is not only unnecessary but illegal. If you are convinced that this has happened to you in the past, you are a victim of mis-sold PPI and you are entitled to compensation.
If your situation is covered here, you can determine whether or not you are a victim of mis-sold PPI. In case you situation is not covered here or you are not sure, it is advisable to reach out to a ppi claim company. The good thing about working with a reputable company is that they not only help you get your money back, they can also evaluate and give recommendations about your case without charging anything.