Payment protection insurance (PPI) was not only sold to cover illness, accident and redundancy risk for mortgages, loans and credit cards - in some cases, mail order customers buying products from catalogues also found they were required to sign up to PPI in order to open an account - and many now wonder if they can reclaim PPI.
Mail order customers fighting for PPI compensation have spoken of payment protection policies being added to their accounts automatically - and it was only when they received a statement that they realised this had happened.
There may be many consumers who have had an account with a mail order catalogue who do not realise that they can reclaim PPI if it was added without their knowledge - or if the company providing the credit facilities for the mail order account did not explain properly what the policy involved or covered.
The Consumer Credit Act 1974 protects consumers against being mis-sold financial products which involve being offered credit terms for payment.
Customers of mail order catalogues who have been mis-sold payment protection can reclaim PPI.
Many consumer protection groups advise that consumers should handle their own claim for PPI compensation rather than seek help from a reputable firm which handles PPI claims.
However, longstanding customers of mail order companies who were allowed credit facilities may find that the extra amount of money they paid in PPI - could easily add up and they need professional help to reclaim PPI from a mail order company.
Mail order using credit to pay over a period of time is generally a more expensive way of buying - but sometimes it is necessary to be able to afford essential items for the home and white goods like washing machines.
If you think you have been mis-sold PPI for a mail order credit account - or are not sure if you can make a claim for PPI compensation on your mail order account - the first thing to do is speak to the lender, starting with customer services.
Once you have found out for sure if you have PPI on your account - and especially if you were not informed of this being added, or the policy was explained to you when it was added - speak to a reputable company dealing in PPI compensation claims about a PPI refund.
If you were unemployed, self-employed or retired when the PPI was added to your mail order account, it is likely that the policy was not suitable and if so, you will be entitled to reclaim PPI.
When you are offered PPI, the seller must also advise you of the options - for example, consumers have the right to shop around for PPI and do not necessarily have to accept the policy a seller offers.
If you were forced to accept PPI in order to obtain a loan or credit facility, then again it is likely you can make a claim for PPI compensation.
Mail order credit accounts can be extremely convenient - but consumers often need them most when they can least afford them and adding PPI can make the situation worse if the customer gets into trouble with keeping up payments on the account and the PPI is not suitable to cover this.
Find out if PPI was added to your account - and then phone a reputable specialist claims company and find out about making a claim for a PPI refund.
Call PPIRefund4me today for free on 0800 044 5196 or visit www.ppirefund4me.co.uk for more information.
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Nik Jones is a professional PPI Advisor at PPI Refund. For any type of PPI refund or PPI claims, Visit us on www.ppirefund4me.co.uk or call for free on 0800 044 5196.
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