PPI Horrors! - Failed Promises
A survey from the Citizens Advice Bureaux (CAB), printed in September 2005 identified that 85% of the
that had attempted to utilize their PPI policy had been defeated and had their request declined. Even
though perhaps not typical or representative of the broader picture the CAB findings make salutary
Mrs T from Birmingham said that she was recommended to take out when she took out a mortgage
When she hesitated over this the 'helpful' counselor advised it might be a great idea 'just in the event'.
Today she's pregnant and unsurprisingly, is not covered for maternity leave.
Mrs V from Essex made her loan cover claim after being made redundant from her properly paid job
having made payments for 36 months. She properly authorized on with all the Work centre as a state of
her insurance even though she thought it unrealistic that she would look for a job as her previous
position as well compensated. This ended up being the case and after three months her Career centre
adviser insisted she take a place as a Filing Clerk. Mrs V deemed this type of employment intolerable and
unsurprisingly ceased visiting the task center and was thus incapable to pursue her claim.
Mister S from Eastbourne and his spouse had mortgage insurance on a 200,000 loan. Mr S lost his job
but was not able to be eligible for Job seekers allowance because his assets were too high. Having paid
60 each month for safety which didn't materialise, Mr S said he felt conned.
When new work dried up for him he attempted to claim, just to be told he would have to declare
himself insolvent before he would qualify. Mr T took away a mortgage in 1989 and as a self - employed
partner in business his broker arranged PPI with the lending company for him. Mt T specifically asked if
he'd be covered as a self-employed person and was told yes. The business failed, he tried to make a
claim but was informed the small print stated it just protected people who have been claiming
unemployment benefit. Those seeking a PPI refund or already holding PPI cover might find the
preceding examples of use in aid with evaluating the viability of cover and the risks of both deliberate or
accidental non - compliance with the tiny printing! To gain additional information, and to learn more,