- Part 1 - PPI Claim Address List for All Banks
- Part 2 - How to Make a PPI Claim against RBS
- Part 3 - How to Make a PPI Claim against Barclays or Barclaycard
- Part 4 - How to Make a PPI Claim against MBNA
- Part 5 - How to Make a PPI Claim against Lloyds TSB
- Part 6 - Most successful reasons for making a PPI claim
- Part 7 - How to make a PPI Claim against Bank of Scotland
- Part 8 - Help – My PPI Claim was Rejected – What to do next
- Part 9 - Why do I pay tax on my PPI refund?
- Part 10 - PPI Calculator
- Part 11 - Deadline looms for new PPI Claims
These are some of the most commonly used and successful reasons for making a PPI claim and these are questions to ask yourself.
When making a PPI claim it is important to assess your own personal circumstances and decide if you have a valid reason for claiming.
It is useful to know what is, and what is not, a valid reason for making a PPI claim.
What age were you when PPI was sold?
PPI can only be sold to people between the ages of 18 and 65, so if you were outside of that age range you should have a valid claim for missold PPI.
Also, some PPI policies have an upper age threshold, above which payouts in the event of a claim would not have been made.
In this case, you could claim back PPI payments you made after the date you exceeded the age threshold, because beyond that date your PPI policy was effectively worthless.
If so, you should have grounds for a claim. PPI which usually includes a clause about becoming unemployed is effectively meaningless if you are already unemployed, self-employed or retired.
People working in a part-time capacity would not have been eligible to take out PPI.
Likewise, people working on a temporary basis, on a short term contract or people who knew that they were likely to become unemployed in the near future, would not have been eligible to take out PPI.
Did you have a pre-existing medical condition when PPI was sold?
If you had a pre-existing medical condition which could ultimately have led to you having to stop work or reduce your hours worked, you should not have been sold PPI.
If you had tried to make a claim on your PPI policy it would have likely been refused if there had been any connection to your pre-existing medical condition, including new medical conditions that developed as a result of the pre-existing medical condition.
So in effect your PPI policy would have been worthless and you should be able to reclaim the payments you made.
If you were not asked about medical conditions and you had a medical condition that would have voided the policy, you should have grounds for a claim.
Did you believe that taking out PPI was a pre-condition for being accepted for the loan/credit card/etc?
Another of the most common reasons for making a PPI claim was that PPI was supposed to be a completely optional extra.
Taking PPI should never have been a pre-condition for having your application for a loan/credit card/etc accepted. Neither should it have been indicated, in any way, that it may increase your likelihood to be accepted for the loan/credit card/etc.
If you feel that PPI was mandatory, or that you were in any way advised, recommended or railroaded towards taking out PPI, you should have grounds for a claim.
Similarly if you felt that you were offered a better deal, like a lower interest rate on a loan, if you took out the PPI, you would have grounds to complain.
Were you told about the full cost of the PPI?
Lenders were supposed to provide full details about the rate at which PPI would be charged and added to your loan/credit card/etc and when payments were expected to be made.
If this did not happen, you may have grounds for a claim.
Did you have alternative insurance cover?
If you already had an insurance policy, either personally or a scheme through your employer, that would have provided some form of income continuation and allowed you to cover payments to your loan/credit card/etc in the event of long term sickness or unemployment, then you likely had no need for an additional PPI policy.
The lender should have taken this into consideration and advised whether or not the PPI would provide any additional benefit.
If there was no additional benefit, the PPI was effectively worthless.
If you applied for your loan/credit card/etc online, was the PPI acceptance tickbox pre-ticked?
Until the FSA raised concerns about the practice, many online loan applications could be found to have the PPI acceptance tickbox pre-ticked.
This meant that customers had to make an active decision to decline PPI and untick the box, rather than deciding they needed and wanted PPI and tick the box. In many cases, this led to customers not even realising that PPI was included and ending up PPI policies that they may not have wanted or needed.
Likewise, if a printed application form had a PPI acceptance tickbox pre-ticked, this is unacceptable behaviour, and you should make a claim for missold PPI. This appears to be one of the most commonly used reasons for making a PPI claim.
Example of a successful PPI Claim on an Abbey National / MBNA credit card which correctly made use of several of the above reasons for making a PPI claim.