Chances are that you might have looked into your mortgage or credit card statement and found that you have been charged for PPI. If you do not remember buying one, chances are that you have been mis-sold PPI. You could have been mis-sold PPI in a number of different ways. If you have tried to claim your PPI compensation by filling up their online form or writing to them and has been rejected, you should not just give up.
Here are some of the ways you can know if your PPI claim rejection was incorrect –
- When you took the loan, were you asked about your employment status? If you were retired, unemployed or self-employed during that time, this cover was not suitable for you and you were still told to purchase it. If Ppi was unsuitable, you have a claim.
- If you were not asked about any pre-existing medical condition during the time you took the loan, you might have been mis-sold PPI. Most of these policies will not way in the event of a claim which is based on a medical condition that you already have.
- If you were not given an option of purchasing the PPI and were told that PPI was compulsory or were told that that not taking the PPI would affect your loan application. Thus, just because the lender rejected the claim doesn’t mean that they are right.
- If you had no idea for years that you have a PPI attached to your loan agreement, then you have a valid claim from the lender.
PPI was designed to help borrowers in the event that they are not able to make their payments, but because of a number of reasons these were forced onto people along with the loans and credit cards. If you feel that your PPI compensation claims was rejected falsely, you have the option of claiming it again. But, make sure that you collect all the information that you can about your PPI so that you can answer all questions raised by the lender and get your money that you deserve.