Ppi should i have been told to take it by my bank?i took out a loan with my bank for 5 thousand pounds i am disabled and i was getting the low rate of mobility middle rate care ,and severe disability allowance ,i have an ongoing illness ,my bank told me i should take out ppi protective insurance ,which i did .i had some financial problems and was having problems... |
Hiya, I read this recently which will hopefully be of some help to you
http://www.moneysavingexpert.com/reclaim...
my friend eventually received a refund of almost £3000, although during her initial phones call to her bank they told her she hadn`t been mis sold the ppi. She then checked through her paperwork and found that she had been, phoned the bank again who confirmed it and was asked if she wanted the refund taken off the balance of her loan or refunded.
The PPI was clearly mis sold. There are a number of firms advertising on the TV at the moment. However, as you have already received payment from it, the case is a bit complicated.
What will have happened as per FSA requirments the lender will have asked you a series of questions like can you afford the repayments if you are unemployed etc etc then after they would recommend or not recommend it depending on your answers. Everyone who sold this insurance had to do this. It would only have been missold if these questions were NOT asked! Dont be litigious..
