‘PPI rejected’ was not what you were expecting to see on the letter from your lender. You did your research, you applied for a claim and now they are saying ‘sorry, you don’t have a claim, goodbye!’
Let’s have a look at some examples of how and why PPI may have been mis-sold to you. If you believe you fit into one of these categories and you have still had a rejected claim, you should consider appealing as it’s very likely you would eventually be successful.
So why might my’ PPI rejected’ outcome be incorrect?
Employment Status – When you took out the borrowing were you asked about your employment status? Many policies included unemployment cover, which was great, if you were in work. But if you were retired, unemployed or self-employed at the time then this cover wasn’t suitable – If the PPI wasn’t suitable, you may have a claim.
Your health – were you asked about pre-existing conditions? Most policies would not have paid out in the event of a claim based on a medical condition you already had. You may therefore have been mis-sold the policy. Another no-no and another reason why your rejected claim may in fact be valid.
Were you given a choice? If your lender implied or stated that PPI was compulsory, or that by you declining the cover it may have adversely affected their loan application, or you felt pressured in anyway. You may have a claim. Just because your letter says PPI rejected, doesn’t mean they are right.
Didn’t know you had PPI – For some people, PPI was added to their loan agreement without them even knowing, let alone agreeing to it. If you discovered after the start of your loan that PPI had been added and you thought ‘Hmm I don’t remember that’ then chances are you were mis-sold.
If you have a rejected claim, don’t be disheartened, you may still have a claim if you appeal. PPI rejected may simply be the blanket response your lender is sending out in the hope that claimants will give up. As your first action right back and explain why you feel your claim is correct and threaten them with The Financial Ombudsman involvement.
Read more articles on PPI
PPI rejected? – PPI claims can be appealed and won!
Rejected PPI claim? –Find your Claimspower!
Why was my legitimate claim for PPI rejected?