Is there a law which states PPI is not compulsory

[Buzzybee]

Hi

 

I am in the process of taking my bank to court as they missold me PPI (the court has cashed my cheque now and I am getting all my documents together for my day in court!).

 

I wanted to know where abouts in English law it states that payment protection insurance is not compulsory and I should be given the opportunity by my bank to shop around for a cheaper policy.

 

Is there anything mentioned in the Consumer Credit Act to say it is not compulsory?

 

Could anyone help please?

 

Thanks

Edited December 11, 2009 by Buzzybee

[postggj]

interesting question

 

you have to agree to ppi

 

you sign a form for this to be legal

 

no signature, no ppi

 

is the bank saying its compulsory and is it in writing

[dx100uk]

..urm.

 

me thinks you need to do some reading in the ppi forum

 

it is most def NOT compulsory!!

 

dx

[Buzzybee]

I know it's not compulsory but I wanted the part in law/consumer credit act which states that it isn't compulsory so I can present it to the Judge.

[dx100uk]

it will be on the agreement you signed

 

dx

[Buzzybee]

Thanks, I have that agreement. If that's the part of the consumer credit act it relates to then I'll have a read of the act.

[ieuanMr]

There is no law, not in English law, that says or does not say PPI is or is not compulsory.

Som epeople claim PPI is not fair or rather is unfair under the consumer Credit Act 1974 because often with prepaid PPI (that is PPI that is paid first and the interest is added) because:

1, IT is the most expensive way to pay for PPI

2. usually the terms of the PPI are not explained in detail so that we do not know that the limits are onerous. i.e. the repayments for redundency are only for 30 payments in a 60 payment term

3. sometimes the sickness benefit will be paid only for a period of 12 months in a 60 month contract so it s not much use

4. You need to read the contract carefully to see if they have breached any of the terms

5 It is their duty to advice you of the suitablility of the PPI and even sign point you to other types if need be see OFT854 online

6. If it breaches the Unfair Terms in Contract Reglations for instance if the contract is pre printed and not individiauly negotiated you can claim it is unfair, although you will have to prove itis unfair.

 

You need to send off a SAR with £10 and try and get a copy of the original agreement signed by both parties, not a copy but an original. If they don't send the original you are entitled to ask to see it at some bank or solicitor's office.

 

When you get the original agreement signed by both parties then you need study it carefully and see if the terms were properly explained to you, if they were not then you may have a claim.

 

You must persever and this site usaually advices people to get a SAR before they do anything else.

 

regards

 

 

Ieuan