Was I missold Payment protection Insurance

Walker34

Hi,
I see a lot of discussion of mis-selling of PPI insurance in the u.k.. I took out a loan 3.5 years ago from Ulster Bank and finished paying it off recently. Am I likely to have been a victim of this hustle?.......and how can I determine if I was. When I got the loan I was given very scant details of the terms and details but dont know if PPI was automatically included. Any info would be appreciated.
Tia, John

BuffyBot

Have you checked the loan agreement documentation - that will tell you if you had PPI and should lay out the costs etc.

Walker34

BuffyBot wrote: »

Have you checked the loan agreement documentation - that will tell you if you had PPI and should lay out the costs etc.

I was never given a formal loan document, I may have gone to the bank to sign something but was surprised at the lack of documentation given. Either way I should be able to get a copy of the original from the bank on request. Was it as rampant here as it appears to have been in the UK.....remember we are talking late 2006 when all was still well in the financial world.

Formal shorts

Walker34 wrote: »

I was never given a formal loan document, I may have gone to the bank to sign something but was surprised at the lack of documentation given. Either way I should be able to get a copy of the original from the bank on request. Was it as rampant here as it appears to have been in the UK.....remember we are talking late 2006 when all was still well in the financial world.

It would have been quite clear on what you signed whether there was PPI on it. The bank can indeed retrieve your old credit agreement and this will show the PPI. Where you might have trouble is that if you had PPI you would have had to sign clearly for this.

You will be entitled to make a complaint (UB have a dedicated PPI complaints team), but you will have to show that if you were sold it, you were unaware of the cost and that it was not clear that it was optional. The main avenue of complaint in Ireland is that people were sold policies that they did not qualify to claim on. If this was the case, you absolutely have a case.

First port of call, contact the branch where you signed for the loan and ask for a copy of your CCA. You'll know then what the story is.

Walker34

Cheers Formal, I was certainly unaware of any policy and will check it out.

Pablo Sanchez

Do you have any reason to believe that you were miss sold the product?

Clearly when you finish paying a loan off and never had to claim on the policy your bound to feel like it was a waste of cash but that does not make for a valid complaint.

unclebill98

Call your branch. There is a dedicated team dealing with such complaints.

Walker34

"There is a dedicated team dealing with such complaints. "......I guess that answers the "was this mis-selling common practice in Ireland" question.

MissFlitworth

Walker34 wrote: »

"There is a dedicated team dealing with such complaints. "......I guess that answers the "was this mis-selling common practice in Ireland" question.

Not really, I think it answers the 'what happens when an ad about getting your money back if you were missold payment protection insurance is aired on Irish tv' question more. I'd say they're run out of it by calls from hopefuls wanting their PPI premiums back

unclebill98

Walker34 wrote: »

"There is a dedicated team dealing with such complaints. "......I guess that answers the "was this mis-selling common practice in Ireland" question.

Kind of missing my point. Front line staff are not fully aware of the whole process and these kind of complaints are not something a branch can start and solve quickly. More complex complaints are dealt with centrally to provide a better service.