Are you planning to make a Barclays PPI claim? If yes, there are some reasons for making the claim and ensure that you succeed. Before you make the claim, it is it is necessary that you make assessment of your own personal situations and find out if your reasons for making the claim are valid. You must understand what a valid reason is and what is not a valid to make the claim. Here are some questions you need to ask yourself.
How old were you when the PPI was sold?
You need to understand that PPI can be sold only for those people between eighteen and sixty fives years of age. This means that if you are outside this age limit, you need to have a valid reason to file the claim. It is also good to note that PPI policies have an upper age limit, about which in case there are payouts in the event of a claim it should not be made. In this case, you should claim back PPI payments that you made after the date that that you went over the age limit. This is because after the date that you exceeded the years, your PPI policy became worthless.
What was your financial status when PPI was sold?
You should also consider if you were self employed, unemployed, working for less that sixteen years a week, working casually or under contract when the PPI was sold. If this is the case, then you have a valid reason to make a claim. PPI that has a clause about becoming unemployed does not have any meaning in case you are already unemployed, retired or self employed. If you are working on part time basis, you would not be permitted to take out PPI.
Were you having a pre existing condition when PPI was sold?
In case you had a pre-existing medical condition that would have made you to stop working or reduce your working hours, you were not eligible to be sold PPI. If you tried to make a claim, then there are high chances for it being refused in case it has any connection to your pre-existing medical problem. This includes new health conditions that arose as a result of the pre existing medical condition. In this case, your PPI policy would not be worth and you should be allowed to reclaim all the payments you have made.
Were you informed about the total cost of PPI?
You were supposed to be given all the details about the rate at which PPI should be charged and added to your credit card or loan. You should also have been informed as to when the payments should be made. In case you were not informed, you may have valid reasons to make a claim.
Did you have any other insurance cover?
If you had an alternative insurance cover, either individually or a scheme through your employer, that would have offered some kind of income continuation and allowed you cover payments to your credit card or loan in case of unemployment or long term sickness, then there was no need for any other PPI policy. If there was no extra benefit the Barclays PPI was worthless and this should have been considered.