Thread: Picture Finance do I have a Claim

Took out a loan with Picture finance in December 2005 80k loan with an additional 19k added for the PPI with the 50% no claims giving me £9.5k back after 5 years, dont think it was explained to me that it was for 5 years only cover but its in the nice booklet they sent me, same goes for there being interest on the payments think the focus in the conversation was on the no claims as I was reluctant to take the cover.

However I dont think I could claim on the unemployment part of policy anyway. It has in the booklet I am self employed, which to a point is true I work as a contractor but its through a Limited Company of which I am also a director and shareholder as well as getting paid via the payroll. They are aware of this as I had to send in company accounts. My partner is also on the policy and loan and she was the other shareholder in the business (although she now isnt).

Within the policy though there is a clause that states

'We will Not pay unemployment benefit;

If before your redundancy you were employed by a limited partnership which You or your family was a director and/or shareholder unless that company ceases trading totally and permanantley to trade as a direct result an inability to pay its debts as they were due, as a consequence of which and immediatley after which you suffer redundancy'

Does this seem like a case of miselling and if so how should I approach as the PPI and loan is still live. Should I cancel the policy first then claim miselling or do it all in one go asking for

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