PPI Question

[Region3]

Whenever I've had credit in the past I've always said no when asked about PPI so when it all kicked off I didn't think it affected me.

I noticed last night on my bank statement that we have a PPI charge every month on the bank account.

From what I remember from years ago, all we were asked was if we were ok with changing our account type because the one we had was being discontinued.
If we knew we had PPI protection we would have tried to use it when I was out of work for 3 months, but we didn't.

Any experts have an opinion on this?

Thanks.

 

[Rooter]

phone the bank and ask them would be the first step. If they confirm that it is payment protection insurance and you were not made aware it was there, they will advise what you need to do next.

PPI on a current account though, thats the bit i dont get.. what payment are you protecting??

 

[full_throttle]

Gary, IMO it would be best go into the bank and enquire at the customer service desk. If it is a PPI payment then you should ask for a direct number for the claims department. By doing it this way it will only cost you your time and one phone call.

 

[One Planer]

Whenever I've had credit in the past I've always said no when asked about PPI so when it all kicked off I didn't think it affected me.

I noticed last night on my bank statement that we have a PPI charge every month on the bank account.

From what I remember from years ago, all we were asked was if we were ok with changing our account type because the one we had was being discontinued.
If we knew we had PPI protection we would have tried to use it when I was out of work for 3 months, but we didn't.

Any experts have an opinion on this?

Thanks.

I had something similar with mine Gary, but mine was with a loan.

When all the PPI malarky kicked off I went through my loan documents. All of which said PPI was not included.

When I rang to enquire about a PPI claim, just chancing my arm, they confirmed that on 2 of the 3 loans I'd taken PPI had been applied.

They launched an investigation and within 7 weeks I was paid out..... Hence my new shineys.

Top and bottom of it is this. If you have had PPI added to your payment without your express knowledge and the payments being explained fully then the "should" be liable.

I would just drop them a telephone call and explain the situation and see what comes of it. I did my claim myself as I didn't want somw faceless company taking 1/4 of anything I was awarded.

Easy enough process. Just make sure you have your agreement numbers and any relevant paperwork.

 

[Colin L]

Good advice and help here: http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

 

[Khamelion]

HID did the PPI claim manually, she printed off the forms, filled in the blanks and a couple of months later she (we ) got a couple of grand back. I'm now doing the same on my credit cards, loans and our first mortgage all of which had PPI on them.

Confirm with the back that you are able to claim PPI, then do a search online, download and print the forms and fill in yourself, why pay £360 pound of your £1,000 (36%) to a claim company, I mean that's a new driver they're taking of you

 

[Region3]

Thanks for the replies so far.

Missus going into the bank later to ask about it.

The least we want is for the damn thing to be cancelled so she's going to do that and enquire about claiming back at the same time.
She's been looking through statements this morning, and on statements from 2010 the description is "overdraft protection" and now it says "payment protection".

The daftest thing - like I said before - is that if we'd know we had it we would have claimed when I lost my job!