Halfords Store Cards PPI
What is Halfords store card PPI?
Halfords payment protection insurance (PPI) may also be known as credit insurance, credit protection or loan repayment insurance among other terms on your documentation.
PPI is an insurance that helps someone who has taken out any form of finance to meet their repayments if they become sick, injured or redundant.
There is often confusion between PPI and income protection insurance. The two products are very different. PPI is a short-term policy, usually 12 months, sold with a loan and other credit products. This gives the borrower time to look for a new job or to return to work, if appropriate. Successful PPI payouts are made directly to the loan provider, not the policyholder.
On the other hand income protection insurance covers 70% of the policyholder's income if they are unable to work due to an accident or sickness. This protection is long-term and can cover the policyholder until retirement if they are unable to work again.
Halfords sold many PPI policies that were added to loans, credit/store cards, mortgages or overdrafts.
FREE PPI CHECK*
What Happens Next?
How was Halfords PPI mis-sold?
Halfords PPI was added to some customers' loans without their knowledge. Other borrowers say that Halfords told them their loan, mortgage or credit application may not be approved if they didn't have Halfords PPI. This resulted in borrowers taking out Halfords PPI to avoid losing the deal, regardless of if they needed the policy or not.
Could you have been mis-sold PPI by Halfords?
If any of the following situations occurred at the point of sale, you may have been mis-sold PPI by Halfords:
- At the time Halfords sold you the PPI policy, were you unemployed, self-employed or retired?
- If you were unemployed, self-employed or retired when Halfords sold you your PPI policy, you would not have been covered so would not have received any benefit from it.
- Were you aware Halfords had added PPI to your agreement?
- If you unaware Halfords had added PPI to your agreement, it was done without your consent. Alternatively it could have been an opt-out box that wasn't clearly visible.
- Were you told what the total cost of Halfords PPI was at the time of sale?
- Halfords should have explained all costings relating to the PPI. This will be a major mis-selling factor if it wasn't done.
- Did Halfords make it known that some of the PPI premium may have been paid as commission?
- If more than 50% of your PPI premium was paid as commission to Halfords, this is classed as high commission under the Plevin rule. You were mis-sold and due a PPI refund.
- Was it made clear to you by Halfords that you could cancel the PPI policy?
- Halfords should have notified you of your right to cancel the PPI policy within the cooling off period.
- Did Halfords bring to your attention any of the circumstances or exclusions where you would not be successful in making a claim?
- If Halfords had not made clear any exclusions or circumstances that would prevent you from claiming, you may have been mis-sold Halfords PPI policy.
- Did Halfords check to see if you had other PPI arrangements that would cover repayments?
- Halfords has a responsibility to find out if you had sufficient PPI cover elsewhere.
- Was there any pressure by Halfords into purchasing the PPI policy?
- Halfords should have looked at your personal situation to assess if you would benefit from having PPI without any pressure or hard-sell.
- When taking out the PPI policy with Halfords, did you have any pre-existing medical conditions at that time?
- If this was the case and you could not have worked for the duration of the Halfords PPI term, you would not be covered by the Halfords PPI policy.
- Was it inferred to you that Halfords PPI was necessary to get the finance?
- If the finance sought was such that required a PPI policy, Halfords should have let you know that you could shop around to find and compare PPI cover or if you already had PPI in place, Halfords should not have sold you their PPI policy.
- Did Halfords PPI have an upper age limit, if so, were you older than it?
- If Halfords PPI specified an age limit for cover and you were older than this, you would not be covered by the policy.
- What was the term of Halfords PPI, was it was less than the term of finance agreement? Also, did Halfords advise that there would also be a period of no cover towards the end of the finance agreement?
- If Halfords didn't explain that you would have a period of no protection during the term of the finance agreement, your Halfords PPI policy was mis-sold to you.
What you could claim from Halfords
If your claim against Halfords is upheld, you may receive a full refund of PPI paid to Halfords, this includes any interest charged on the PPI. Statutory interest of 8% per year is also payable on the premiums and any interest charged.
How to lodge a PPI complaint with Halfords?
A deadline of 29 August 2019 has been set by The Financial Conduct Authority (FCA), by which time all PPI complaints will need to have been submitted. After which time, customers will lose the right to have their complaint assessed by us, or the Financial Ombudsman Service.
If you have been sent a letter from Halfords outlining potential concerns about the way PPI may have been sold to you, you may have less time. It is important to act as soon as possible.
Please be assured, when checking or complaining about PPI to Halfords, your relationship with, or your credit score will not be adversely affected.
We understand consumers may require different levels of assistance and are committed to making your free PPI check* and claim process as straightforward as possible. Our process is designed to make it as easy as possible for anyone wishing to make a complaint.
We’d like to discuss the details of your case with you so your complaint can be lodged as quickly as possible with Halfords to find out if you had any PPI charges on your loan or finance agreement.
How do I start a Free PPI Check on my Halfords Store Card?
You can Start your FREE check PPI process by using our online form above and completing your contact information.
Other Retailers Facing Mis-Sold PPI Claims
© 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. *The free PPI check is a stand-alone, no obligation service. If you agree to the claim service, the fees are 20% + VAT = 24% for any successful claim.