…………….Or £3000. Or £10’000. Or £50’000. It’s not the amount that’s important.

Today I’m showing you how to tell if you could be a PPI victim – in 10 minutes.

I’m leaving as much detail out as I can, so you can read and decide within the 10 minutes taken to read this.

It’s in the form of a checklist, with just seven – 7 – bullet points, one for each day of the week. If a week has eight days in it.

If you can say yes to even JUST ONE of these points, the simple message is; you may have been mis-sold!

And then?

It’s YOUR NEXT ACTION that is absolutely VITAL to clarifying if that £5000 (or whatever amount) is due to you! Make contact (www.maplefinancial.co.uk).

It really is that simple.

So well done on taking 5 minutes or so to read this.

Let’s crack on then. The 8 points;

1)    You felt pressured.

2)    Your profession. Self-Employed? Unemployed? Retired? NHS staff? Teacher? And others.

3)    Your health. Pre-existing medical condition (including ‘vulnerable’ condition)?

4)    The advice.

  • You were advised to take it; told it would help loan acceptance; told you had to take it with the loan.
  • Even if you were allowed to think you were less likely to have your loan or credit card application approved if you didn’t take the PPI.
  • Or NOT told that PPI had a cooling off period.

5)    Your circumstances.

6)    You STILL haven’t checked (come on!).

7)    You didn’t know you had it.

8)    You ‘rolled a loan over’.

If any of those could apply to you – make contact right now!

If you feel they don’t but you still feel as though you were mis-sold PPI, you may still have grounds to reclaim your money anyway – make contact right now!

Here’s some detail on the points.

1     You felt pressurised.

There are so many ways this could have happened. 10, 20, 100. Whatever – if you felt pressurised you should make contact and take it from there. Easy.

2.    Your profession.

Self-Employed, Unemployed, Retired, NHS (Doctor, Nurse, etc). Teacher. Many more. Example 1) Unemployment cover was already provided for in so many ways in NHS employment, making that part of PPI is effectively worthless. Example 2) Retired – most PPI policies have an upper age limit beyond which they will not pay out. Any of these professions or examples – again, make contact and we’ll clarify

3.    Your Health.

Pre-existing medical conditions are among the standard exclusions made under a vast array of insurance policies – basically, very few types of cover will pay out a claim on an illness you’ve suffered before. Or even a condition that could be related to a former sickness. Likewise, if there are exclusions in the terms and conditions that you weren’t told about, or given incorrect information about. If you weren’t asked about your health when you were sold PPI, get in touch.

4.    The advice.

If you were advised to take it; or told that PPI would help loan acceptance; or that you had to take PPI alongside the loan. Explicitly – even if you were allowed to think you were less likely to have your loan or credit card application approved if you didn’t take the PPI.

Be clear on this; If it wasn’t made clear to you that your PPI policy was optional or that it had a cooling off period, or any of the other examples, you know the drill – make contact.

If you bought PPI after 14 January 2005 and were told it was ‘strongly recommended’ or similar, this counts as an ‘advised sale’. Unless you were issued a ‘demands and needs statement’ that sets out why your particular policy was recommended as suitable for you, you should check.

5.    Circumstances.

Simply – if it didn’t suit your circumstances.

Until May 2009, most PPI policies were sold as ‘single premium’ cover, where the cost of the insurance was added onto your loan or finance agreement and you were forced to pay interest on this as well as the sum you had borrowed.

Most single premium PPI policies were set up to last for a standard five years – so if your loan or credit agreement was for longer than this, were you told you would not be covered throughout the whole period? If not, the same mantra – make contact and we’ll check @ www.maplefinancial.co.uk.

If you took out a loan in joint names but only one person is covered in the PPI, again, contact us.

It’s entirely likely you already had some insurance cover in place – and that can be an employer’s income protection insurance policy WHICH YOU MAY NOT HAVE BEEN AWARE OF EVEN UNTIL RIGHT THIS MINUTE – and if so, contact and check (www.maplefinancial.co.uk).

6          You still haven’t checked.

What? What are you waiting for!

7          You didn’t know you had it.

Easy one, this. Easy, because it’s easy for anyone to have bought PPI without even knowing it!

Believe it or not, some old policy agreements used pre-ticked boxes that required consumers to request NOT to have PPI with loans or credit agreements. This is explicitly unfair.

It was also often added, and often deliberately, because people made money from you taking PPI. So it could be added during the sale without you knowing; and after the sale too… as the next point will show….

Contact (www.maplefinancial.co.uk) and let’s get it checked!

8          You ‘rolled a loan over’.

‘Rolling over a loan’ is when you go back to the bank and re-do the loan, whether adding another sum on or whatever. Not so important.

But this next bit is really, really important.

On the original loan agreement where PPI is NOT present – there is a nasty habit for it to pop up on a ‘rollover’ or repeat agreement, and suddenly BE PRESENT after a ‘rollover’.

It’s nasty, dishonest, and even now with all the mis-selling that the banks did they get awfully offended at suggesting they did this. But they did, and it wasn’t at all unusual. At some point during a ‘rollover’ somebody thought it clever to add the PPI on.

They don’t get you the first time, the best time to get you is the next time, right?

If you ever rolled over ANY loans, get them all checked, including at every rollover stage (if you rolled a loan over more than once – lots of people did this).

And you know where you can come – (www.maplefinancial.co.uk)!

Happy checking!

 

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Rachel Swinney

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