STORE CARD PPI
Many people unknowingly had PPI added on when they took out a store card. If you think you’re one of them, don’t miss the PPI Deadline!
What is PPI?
How to check if you had PPI?If you’ve had a loan or credit product but aren’t sure whether you had PPI policy with them, you can ask your provider or choose to pay a claims management company to do so on your behalf. All you need to get started is your name, date of birth and previous addresses. If you do decide to use a claims management company (CMC) you should check if the company is authorised and listed on the Authorised Business Register from the Financial Conduct Authority . Whilst having paperwork is not essential to check if you had PPI, it will help to speed up the process. Look for ‘PPI’, or the product names listed below, on original documents, credit agreements, more recent statements, and the terms and conditions for each agreement. Information about the PPI policy and any payments you made may appear next to repayments sometimes shown as an additional charge.
Which product names to look for in your paperworkAs explained above, PPI policies were usually sold with other products like a loan, credit card, store card, mortgage, overdraft or with a car finance agreement. As well as ‘PPI’ or ‘payment protection insurance’, many other names were often used for PPI or similar products. So your paperwork might include other names for PPI and similar products, such as:
- account cover
- credit insurance
- loan protection
- accident, sickness and unemployment (ASU) insurance
- credit protection
- payment cover
- loan care
- loan insurance
- loan repayment insurance
- income protection plan
How PPI was Mis-sold?If you find that you had PPI policy and are unhappy with how it was sold, you can complain about it to the bank or other provider concerned and claim back any money you’ve paid with interest. Find out about mis-selling of PPI and why you might be eligible to claim a refund. It is likely you were mis-sold PPI if you experienced any of the following:
- You were pressured into buying PPI or told you must have PPI by the bank or other finance provider
- The bank or finance provider promised you a cheaper rate on your finance if you bought a PPI policy
- I was told your loan or credit application was more likely to be accepted if you bought PPI
- PPI was added to your finance agreement without your knowledge
- you were advised to buy PPI even though it did not suit your personal circumstances or needs
- You were self-employed, unemployed or retired but was still advised to buy PPI
- I had pre-existing medical condition(s) at the time of buying PPI but was not advised that the PPI policy would not cover these or you were advised that a pre-existing medical condition was included in your PPI policy (or advised that it wasn’t included)
- It wasn't made clear to me that interest was also applicable on the PPI if it was added to my loan
- The bank or provider did not make it clear that the PPI would end before the loan or credit was repaid
Other reasons why you were mis-sold PPIIf you had PPI there is now another reason why you may be eligible to claim back money you’ve paid for the policy. If the bank or other provider earned a high level of commission from the sale of PPI, but didn’t disclose you this information when you purchased the PPI policy.
What to do after you've checked?If you find or remember that you did have PPI and you’re unhappy with how it was sold to you, we can assist you with making a claim before the PPI deadline of 29th August 2019. Please note : It can take up to 8 weeks for your PPI check to be completed. Time is running out so we urge you to act sooner rather than later to allow you enough time to check if you had PPI and to decide whether you have a valid complaint against your bank or other provider
Stores that Missold PPI
© 2019. StorecardsPPI.com is a trading style of Money Management Team which is authorised and regulated by the Financial Conduct Authority in respect of regulated claims management activities FRN: 836618. The registered address is Railex Business Centre, Crossens Way, Marine Drive, Southport, Merseyside, PR9 9LY. Registered as a company in England and Wales (company number 08290403) Vat Number: 180 9825 79 | Tel: 0800 103 2631 ICO number: ZA029120. *Free Check with our Claims Service. Outcome is lender specific and may result in a complaint being investigated. If you agree to the claim service, the fees are 20% + VAT = 24% for any successful claim.