Why Can You Reclaim Ppi?

Across the UK, There are thousands of Mis sold PPI policies that have been sold to owners of Loans

, Credit Cards and Mortgages; many of them don't even know they have them! But if you have been mis sold a PPI policy in certain circumstances, then you have the right to reclaim PPI from your bank or building society.

There are certain situations were PPI has been sold to customers and it is just not appropriate for that customers needs - If one of the situations below applies to you then you should start to take action immediately:

*Unemployed - What was your employment situation when you took out your loan, if you weren't in employment then the vast majority of PPI policies will not cover you - after all PPI is designed to protect your payments when you are unemployed , but if you were already in this situation then you had no income to protect. Most policies class being employed as being in a permanent position for more than 16 hrs a week.

*Retired - As a retired person, your income doesn't rely on employment. Your income is your pension, and as such you will never lose it by not working. It doesn't matter if you get ill and you have no job to lose - because of this your PPI is protecting you from a situation you can never actually get, therefore you are paying for a useless policy!

*Self Employed - As a general rule, PPI will not cover you if you are self employed, Most PPI Policies specifically exclude self employed people from being covered. Check your policy, if your bank sold you a PPI policy whilst you were self employed you've been mis sold and can reclaim PPI.

*Pre - Existing Medical Problems - This is an exclusion clause that can be a real problem with PPI insurance. If you have a pre-existing medical condition, anything from cancer to diabetes and you don't declare it then your policy could be invalid and it won't pay out. This is particularly unfair as being ill is one of the reasons you purchase PPI in the first place! If you weren't advised of this you should take action to claim back your mis sold PPI today.

by: James Alton

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