PPI Claim - Question about Employment Status at time of taking loan

[racerboy]

Hi, I was wondering if I could get some advice on this - I took a secured loan in 2006 with First Plus, at the time I was self employed and was for a period of three to four years after the loan was started. I didn't realise the situation with regard to PPI specifically the exclusions around self employment status. The loan is still trundling along now and I would like to know if anyone believes this would substantiate a PPI claim against FP, for the reason above - I dont ever recall being asked around employment status at the time. Any thoughts around this very welcome.

[dj1971]

Hi Racerboy,

 

In my opinion, that in itself would surely be grounds for a mis sold claim.

 

DJ

[racerboy]

Thanks - I've got several that fall into this category.

[postggj]

2006 loan

 

the ppi should have a statement of means done at point of sale to see if the ppi was sutable at time of sale

 

ask for a copy of this statement of means

 

its a legal requirement

 

def missold

 

claim it back with contractual interest

[racerboy]

Does it make any difference if i am now employed (and not self employed as I was at the time of the loan being set-up) ?

[dj1971]

No difference what so ever.

 

Get reclaiming.

 

DJ

[racerboy]

Do you think the recent announcement regarding Judicial Review will delay claims for a long period. Mine are now in and the clock is ticking, but it looks ominous.

[dj1971]

Quite possibly Racerboy.

 

However as the banks have been ordered to process claims as usual, if after 8 weeks you have not had a response you can go straight to the financial Ombudsman Service, as per usual.

 

So in effect shouldn't really effect the process in reality.

 

DJ