There are a wide range of people in the UK today who may be eligible to claim back PPI despite the fact that they are completely unaware of the fact! However,working out whether you’re part of the group eligible to claim can be hard work, as there are quite a lot of particulars involved. However, we’ve put together this article as a general guide – if any of the below points are applicable to your own circumstances, it’s well worth enquiring with the ombudsman as to whether or not you’re eligible.
One of the most telling factors is the most obvious one – that you were informed about the payment insurance when you were purchasing a credit card. Many of those who were sought out to be customers were told that PPI was a non-negotiable purchase if you required a credit card. Since that period of selling, it has become apparent that this was not the case, so make sure that if you were quoted it as being compulsory, you check your eligibility for a claim.
Secondly, it’s worth inspecting any financial agreements you entered into if you were self-employed. Rather despicably, many of the sales of PPI were made to people who weren’t actually eligible to claim on the policy should they have been put in the position to do so. This was especially the case with those who were self-employed, but it’s worth also looking if you’re a pensioner or anyone else who is not in full time work.
Finally, anyone who obtained a mortgage between the years that PPI was being sold should check out their finances, as they may also have been sold the policy as part of their agreement. One of the most common methods of mis-selling PPI was to attach it as part of a mortgage, making a possible claim available to anyone who has one.